JULY 15TH, 2010
By RISKFIREWALL
Everyone wants to know how to save money while retaining the best insurance coverage. Patti Clement of HUB International’s Private Client Advisors Group was recently featured in a white paper released by ACE Private Risk Services on opportunities to maximize the value of your personal insurance. Some interesting findings that came out of the survey of 600 agents and brokers include:
Mind the Gap in Coverage: Umbrella policies are a great tool for protection, but be mindful of the gap in coverage between your other policies and the Umbrella policy. If your auto policy caps at $100,000 and your Umbrella doesn’t take effect until $300,000, you may be responsible for that financial difference.
Don’t Trust Other Drivers: A 2009 study from the Insurance Research Council (IRC) notes that as many as 1 in 6 drivers in the US are uninsured. If you find yourself on the side of the road after a collision with one of these drivers, they won’t be able to afford the necessary automotive repair and/or medical care you require.
Raise Your Deductible: The typical homeowner files a claim only once every 11 years. Raising your deductible from $500 to $2,500 can result in premium savings of up to $900 per year, or $9,900 over the course of 11 years, which easily covers the $2,000 difference.
Take your Prevention Credits: Almost every house has a fire alarm, burglar alarm, electrical back-up, automatic water shut-off or gas leak detection system. Make sure you tell your agent, as you may be eligible for savings on your premium exceeding 30%.
Protect Against the Big Lawsuits: The 2008 data from Jury Verdict Research indicates that 14% of personal injury awards exceed $1 million and 4% exceed $5 million. It is therefore a cause for real concern that most policies are capped at around $500,000 particularly for an affluent individual who is more often the likely target of these large suits.
For a copy of the ACE Private Risk Services study, please click here.
Unlike most major holidays, which we all associate with airport delays, July 4th is more often celebrated closer to home with barbeques, fireworks and friendly neighbors. The proximity to home keeps everyone feeling safe and at ease, but it is important to be on the look out for local dangers that can result in injury, death and possibly a lawsuit.
Watch for Intoxicated Drivers: Normally-sober drivers feel confident that they will arrive home safely because of the short distance. Unfortunately, many of them underestimate the influence alcohol can have Read more »
JUNE 10TH, 2010
By RISKFIREWALL
Every day, businesses are threatened by Cyber criminals looking for money, trade secrets and the thrill of bypassing complex firewall systems. For their May 2010 issue, Printing Industries of America: The Magazine asked HUB International Northeast’s own Michael Zeldes to share his expertise on the Top 5 IT Threats of 2010.
Click here to view the article from the Printing Industries of America: The Magazine.
MAY 26TH, 2010
By RISKFIREWALL
When considering pollution risks, people usually think about the deteriorating ozone layer, oil spills and smog, not the contaminants found in our offices. And yet, there is risk of pollution conditions such as mold, bacterial outbreaks, fumes from cleaning products, dumpsters, fuel tanks and carbon monoxide released from heating systems.
An environmental policy is designed to Read more »
MAY 8TH, 2010
By RISKFIREWALL
All over the world, wine is drunk in celebration, in religious ceremonies, after a stressful day and to accompany a fine meal. Most people enjoy the flavor, the history and the rarity of a bottle, and many horde bottles of prized vintage for upcoming events and as an investment in the future. Yet, few can tell if they are drinking a true 1944 Pinot Noir or a counterfeit 1994.
Recently the Bordeaux Index and the Wine and Spirit Trade Association (WSTA) issued warnings Read more »
MAY 7TH, 2010
By RISKFIREWALL
Everyone knows it is a Buyer’s Market in the world of Real Estate, but few realize it is also a Buyer’s Market for insurance. Because of this market change, many insurance companies are reducing premiums and offering more comprehensive coverage.
Premium reductions and better coverage put you in control of Read more »
APRIL 15TH, 2010
By RISKFIREWALL
HUB International Northeast, Your Firewall Against Risk, has been sought out as a voice of insurance authority by The New York Times.
On April 2nd, The New York Times published an article titled “Protect Your Art With More Than a Handshake”, in which the leader of HUB International Northeast’s Fine Arts and Special Risks department was quoted on his extensive experience insuring fine art collections, galleries and purchase agreements.
Click here to view the article from The New York Times.
MARCH 25TH, 2010
By RISKFIREWALL
Companies can install security systems to try and keep out hackers. They can ask employees to sign non-compete clauses to keep them from stealing their trade secrets. But businesses likely aren’t protecting themselves against perhaps the most damaging threats of all, the “15 minutes of fame” phenomenon sweeping the world.
Facebook, MySpace, Twitter, LinkedIn all appeal to the ego. Nothing is more satisfying to a disgruntled employee than receiving INSTANT recognition by seeing confidential information he or she provided plastered anonymously all over the Internet. Read more »
AUGUST 21ST, 2009
By RISKFIREWALL
If you think that the “Inc.” in your corporate name protects your personal assets from attack – think again. As a small business owner whose personal assets are depleting, it is tempting to use your business funds to pay your personal bills – writing checks from your business account to pay your family expenses. Before long, you may realize that your business has become undercapitalized and is hurdling towards insolvency. In such a situation, you leave yourself especially vulnerable to a creditor who wants repayment for his or her goods or services. Read more »
JULY 24TH, 2009
By RISKFIREWALL
If you’re like most of us, the privacy you treasure is no longer private at all. We were all recently bombarded with media coverage spotlighting privacy breaches committed against institutions like Goldman Sachs, the New York Stock Exchange, and federal agencies—institutions that are supposed to be cyber-security fortresses. If the security of these institutions can be breached, how is there any hope for the small business owner who does not have the monetary resources for such security measures? Read more »
