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Homeowner's Insurance

Home Improvement Alert: Are You Properly Insured?

As homeowners embark on major renovation projects, they may unknowingly expose themselves to significant financial risks by not updating their insurance policies. A recent survey by Nationwide highlights this growing concern, revealing that many homeowners complete substantial upgrades without adjusting their coverage. Key Findings: Popular Projects and Costs: Financial Implications: Empty nesters, in particular, are pouring more resources into high-value upgrades. For example: Expert Insight: Casey Kempton, President of Nationwide’s P&C Personal Lines, emphasizes the importance of revisiting insurance coverage:“Every homeowner should review their home insurance coverage with their independent insurance agent regularly to avoid potential gaps.” Protect Your Investment: At Skyscraper Insurance, we understand the complexities of home improvements and their impact on insurance. Whether you’re adding a new room or upgrading your kitchen, our experts can help ensure you’re fully covered. Don’t leave your dream home unprotected! Contact us today for a free consultation to safeguard your renovations and future.#SkyscraperInsurance #HomeRenovations #StayCovered #RiskManagement

Workers' Comp

Captive Insurer Alleges Fraudulent Construction Accidents in New York

A recent lawsuit filed by Ionian Re LLC, a captive insurer for New York’s construction sector, exposes an alleged scheme to exploit workers’ compensation and labor law protections through staged accidents. The complaint, lodged in the U.S. District Court for Eastern New York, implicates multiple contractors, law firms, and individuals in orchestrating fraudulent claims. Key Allegations: The lawsuit underscores the financial and reputational risks posed by fraudulent claims in the construction industry, highlighting the importance of robust risk management and compliance measures to safeguard businesses.

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