Claims issues to watch in 2023
As we venture into 2023, here are several issues our news team will be watching that could have an impact on the insurance claims space. While none of these are new, per se, they are definitely evolving and some are taking on more significance as lawsuits and larger claims come into play. Cybersecurity — This a constantly […]
Fire safety tips offered this holiday season
Many hallmarks of the holiday season, including Christmas trees, holiday decorations, and festive meals, present potential fire hazards that contribute to an annual increase in U.S. home fires at this time of year. According to the National Fire Protection Association (NFPA), Christmas Day and Christmas Eve are among the leading days of the year for […]
Federal agencies look to crack down on telemedicine fraud
Both healthcare providers and insurers should be aware of the potential for abuse of telemedicine services as well as the ramifications. At the same time, the opportunities for fraud have increased. Unscrupulous international and domestic telemarketing call centers, staffing companies, marketers, brokers, and practitioners, among other individuals and entities, have recognized the potential to line […]
Storm surge, tide surge or rainwater flood?
Hurricanes produce strong, powerful winds, but it’s actually the water that causes most of the destruction, accounting for nearly 90% of fatalities. The standard ISO property, homeowners, and dwelling coverage forms each contain a water exclusion that extends to exclude loss caused by storm surge. It seems that recent hurricane paths have come further inland […]
Protecting your home against the leading causes of fire
Local fire departments in the United States responded to around 1.35 million fires in 2021, according to a September 2022 report from the National Fire Protection Association (NFPA). These fires killed an estimated 3,800 civilians and injured around 14,700 while causing nearly $16 billion in damage. House fires made up around 20% of fires in 2021, but […]
Now is the time to update your insured property values
Rising inflation, labor shortages, and supply chain issues can wreak havoc with replacement costs and insurance valuations. Risk managers planning their next property insurance renewals should start the process this year with a thorough assessment of their insured values — not only of their real estate portfolios but also with respect to their equipment and […]
Rising rates accompany growing demand for active assailant coverage
Demand is up more than 50% and rates for higher-risk businesses are up double-digits in the past 12 months. As the number of mass shooting incidents continues to rise in the U.S., the demand for active assailant, deadly weapon protection, workplace violence and similar coverages is growing. The Gun Violence Archive reports there have been at least […]
LEADERS OF THE SATMAR COMMUNITY ANNOUNCE FINAL NUMBERS OF ITS FIRST EVER BUSINESS EXPO
More Than 5000 Participants Attended the Event in Edison, NJ Over 300 Entrepreneurs from the Satmar Community Had Booths Showing How They Employ Thousands of People, Serving Customers Worldwide With an Economic Footprint Reaching Hundreds of Millions of Dollars EDISON, N.J., July 25, 2022 /PRNewswire/ — Leaders of New York and New Jersey’s Satmar community today announced […]
How to Make Sure You’re Insured for Summer Activities
Summer is a time for gathering with friends and family, but with more activity and travel comes increased risk of accident and injury. Some of these incidents could cost you thousands of dollars if you don’t have the right insurance coverage. Here’s how to make sure you’re properly covered for some common summer scenarios so […]
New cyber risk targets small businesses
Companies with weak or non-existent cybersecurity are easy targets for hackers. With names like AstraLocker, RedAlert, CheckMate and Maui, today’s ransomware programs sound more like video games than programs that will shut down a network, steal customer information and disrupt a business for weeks or longer. According to CFC, a specialist insurance provider, you can add […]