Electronic Signatures May 16, 2012
Check this out - Interesting way to “sign” a document on-line.
http://www.echosign.com/public/static/solutions.jsp?rs=Google_AW&rc=echosign_SiteLinks_About&gclid=CIS4k5bHg7ACFQjf4Aodfi82jw
News Year's Resolution List Dec 28, 2011
Has looking into Long-Term Care Insurance been on your New Year’s Resolution list?
One thing most people put off is planning for long-term care. They don’t plan for themselves, a spouse, or aging parents. We would like to help even though we do not write the coverage directly. A local agent, Mark King, specializes in this type of coverage. He is a great resource and you might want to call him if you are interested in learning more. Here are some other useful resources:
We hope that this referral and websites are useful to you.
HAPPY NEW YEAR!
Home Insurance - increased costs and changes on the horizon Aug 31, 2011
Sorry, friends - haven't been on for a while. We have all had one heck of a spring and summer weather wise - one storm after another. Since our business is insurance - it has caused many of our policyholders’ hardship when they see their homes damaged by wind, hail and water. An insurance company adjuster mentioned that since the beginning of the year there has been one catastrophic event every seven days from wind, hail or tornado and let’s not forgets the water back-up from our sewer systems that just can't take all the rain. With respect to sewer water backing up into the home from heavy rains, many homeowners have experienced two and three events in one year! Homes that NEVER had water before had water in their homes. Many homeowners didn’t have the coverage to help them pay for the clean up or replace their property. The coverage needed would be "Water back-up from sewer and drains" an added endorsement to the home policy.
Let me interject here... Home policies do not automatically cover for Water Backup. Home policies do not protect against earthquake (but, it may be added) it is very likely that your home policy DOES NOT have earthquake. And, NO home policy offers FLOOD Insurance. We hope that you would agree that it is better to know what your policy covers and doesn't cover before the claim - knowing after a claim is a bad surprise.
The insurance companies can't seem to cut a break either..... Who will pay? Yep, that would be us! Most insurance companies are paying 1.30 to 1.80 for every dollar taken in in premium. A business can't continue to pay out more than they take in and that estimate is before expenses.
Insurance is really no more than monies being pooled together to help each other. And when there is less money coming in than going out - solutions are few. Florida is a good example - home/property policies are much more expensive and more restrictive. Options might be.... raise the deductible in the policy so everyone has more skin in the game ($500 deductible just isn't enough). Reduce the amount of coverage that is paid on specific perils like 'hail and wind' to roofs. The industry has started writing home policies with a percentage deductible 1 - 2% vs. a set dollar amount. Some carriers are adding Actual Cash Value endorsements for roofs when they know the roof is 15 years or older. And, lastly - raise the cost of the product.
The roofing contractors have discovered the home insurance policy as a source of income and opportunity. Don't be surprised when a roofing contractor knocks at your door the next time a wind blows through encouraging you and submit a claim to your home insurance carrier. The truth may be that your roof is at the end of its life, you may have slotted to replace the roof this year or next - no matter.... your new roofing friend will help you get a new roof from your insurance company. Some claims are legitimate - many more are questionable.
In my 40 years (this year) in the business, I have never seen the number of homeowner claims as I have seen in the last two - three years. It is unprecedented.
I believe, the insurance industry needs to take responsibility as they have marketed the "homeowner" product to be the cure all end all - and that is NOT the right message nor is it an accurate message. I'll leave it at that for now..... More of my views later.
