Many people in the insurance industry will agree that umbrellas are one of the most misunderstood lines of insurance coverage in existence. Of course, it’s easy to understand why when you look up the definition of “umbrella” and get explanations that include:
Over the past several years, the IRS actions against tax identity fraud were successful in driving down the rate of tax fraud. Then the COVID-19 pandemic happened. The IRS extended due dates and become bogged down trying to process returns while keeping their employees safe. Additionally, U.S. stimulus payments were administered as tax refunds and the Federal government enhanced state unemployment benefits. Identity thieves had more financial incentive than ever before to commit tax and benefits fraud.
It’s snowin’ and blowin’ everywhere in Ohio right now and in much of the U.S., but like my grandma says, “It’s that time of year!” There are times when we have to venture out, even during and after winter weather events. When there are snow and ice on the ground, it can be dangerous for people walking in and out of homes, workplaces, stores, and restaurants.Read More
As if a global pandemic isn’t bad enough, fraudsters are trying to take advantage of this tragedy by scamming the general public. Former Acting Attorney General Jeffrey Rosen said in regards to these scams, “A pandemic is a time when people should come together to pursue the common good, but sadly there are some who instead use it as an opportunity to deceive and thieve.”
Winter is in full force and the potential for claims resulting from ice dams is on the rise! While most of the damage caused by a winter storm is immediate, ice dams losses usually don’t occur until several days after.
Just what is an ice dam? As the heat from inside your house rises and melts the snow on your roof, the water will flow down the slope until it reaches a portion of your roof where the temperature is freezing. The water will refreeze and a ridge of ice will form.
“I want to work in insurance when I grow up!” – No One Ever
There aren’t a lot of people working for insurance carriers or agents who grew up thinking that’s where their career would take them. Unless insurance was a family business, most people have other dreams. Even if one goes to college to study business or finance, a job in insurance is usually not what one has in mind.
Tax season is upon us. As consumers wait for tax-related documents to be delivered to their mailboxes, thieves are lying in wait, ready to intercept. According to the Federal Trade Commission, tax identity theft is one of the top types of ID theft reported. Using stolen personal information, which can be found on tax-related forms, identity thieves can file phony tax returns and collect the refund.
When I’m completing a risk management review for one of our commercial partners, the most common area of losses we discuss are fleet claims. Whether your company has one vehicle or 100, having drivers out on the roadway poses a constant risk to your vehicles and employees.
As a small business owner, you have a lot on your plate. Dealing with COVID while trying to make a profit and keep your business growing are of paramount concern. In addition, there’s making payroll, staying competitive, complying with state and local regulations, etc., etc. It’s easy to overlook important changes that may have occurred in your business and need to be accounted for on your insurance policy. Your annual policy renewal is a great time to consult with your independent agent and make sure you are properly protected. Exposures can change quickly in your business and it’s easy to forget that your insurance needs to adapt to these changes. Let’s look at a few areas to consider:
With the continued adoption of Smart Home products, many homeowners welcome devices that promote energy efficiency, cost savings benefits, and added security. These protected homes may present a lower risk for insurers and reduce claims expenses, but are insurers optimizing how that data is being extracted and used to mitigate risk?
myCentral is a convenient and secure option for managing your insurance information, anytime, anywhere. In addition to reporting a claim, accessing ID cards and roadside assistance information, viewing your policy, and finding resources for your home or business, myCentral offers a variety of options to manage and pay your bill.