Homeowners insurance premiums are increasing by rates that exceed inflation. Insurance companies are proposing double-digit rate increases at some state insurance departments. The leading factors include the increased reconstruction cost value of homes, along with increasing values driven by suburbanization. The impact of weather events in these areas of concentrated… [Read More]
Best Practices for Cybercrime and Ransomware Defense
Human Vulnerabilities are the Leading Cause of Cybercrime and Ransomware affecting Individuals and Businesses A prominent cause of cyber fraud and hacking incidents that result in interruption or loss for individuals and businesses begins with Compromised User Credentials triggered by a user’s response to an email that looks like it... [Read More]
Careful Planning Makes Yacht Lay-up a “Layup”
When laying up your vessel for the season, allow for time and prepare a plan which considers the following maintenance suggestions: Winterize all systems including the draining of all plumbing, air conditioning, engine, sanitation, and domestic water systems. Ensure the holding tank is empty. Inspect all seacocks. Most importantly, don’t… [Read More]
Considerations for Worldwide Travelers
Insurance for travel calls to mind trip cancellation or accident insurance. There are other risk factors in travel which should be considered, particularly for international travel. The best way to contemplate travel risk is to differentiate liability, which is the risk of liability or similar suits from third parties, from… [Read More]
AssetSure Names Ted Karlunas Practice Leader of Personal Insurance
New hire to be responsible for personal insurance operations as company expands AssetSure, an independent insurance agency working with leading financial services professionals to protect the financial well-being of clients, announced today the hiring of Ted Karlunas as Vice President, Personal Insurance Practice Leader. In this role, Karlunas will lead… [Read More]
Construction Projects, Renovations and New Construction – Tips for Site Owners
While a new or renovation construction project is in the planning phases, it is important to emphasize the need for the site owner to recognize that while some liability can be transferred through indemnification provisions within contracts and certain contractual wording within insurance policies, there is also a need for… [Read More]
Personal Liability in the Homeowners Form
A homeowner’s policy contains primary home liability which can be extended to other owned locations. It is important to note that an insurance policy is a conditional contract and attention must be paid to title and use of property. Without the correct insurance policy or applicable endorsement(s) there is a… [Read More]
Titles, Ownership and Named Insured – An Insurance Perspective
Real Estate Investments: In the instance whereby there is a transfer of property from personal name to Limited Liability Corporation, or a grant deed recorded, for example a land trust, the insurance company should be notified and an endorsement should be issued on the policy specifying the name of the… [Read More]
Auto, The Private Client Difference
Auto insurance is like homeowner’s insurance in that there are many insuring carriers competing for the right to insure high end property, however, policy coverage varies by insuring carrier and policy form options within a carrier’s offerings. There are many differences between the mass market auto policy and a private… [Read More]
Auto Insurance Basics
Auto policies consist of two types of liability coverages, bodily injury and property damage. The bodily injury coverage is split into a per person and per occurrence limit. When named as a defendant in a lawsuit, the insuring carrier has a duty to defend the insured. When there is a… [Read More]
