October 2012

Scary Lawsuits: Halloween More About Tricks than Treats

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October 29th, 2012

Trick-or-treating, costume parties, bonfires, and visiting haunted houses, are all part of Halloween traditions; typically all are done in lighthearted, fun fashion.  As we all know, accidents happen we least expect.  Propertycasualty360.com has compiled a list of “5 Bizarre Halloween Lawsuits” – you may think you are reading the script of a horror film except» Read Full Article

Buildings More Than 70% Vacant Are Most Likely Not Covered, Unless…

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October 25th, 2012

All commercial insurance policies have some type of vacancy clause limitation.  These clauses kick in when 70% or more of the building is vacant.  If the vacancy clause is applied to a location that has a loss it could mean a reduction in the claim payment by 15% or more or in the case of some» Read Full Article

How Is An Insurance Policy Like A Loan?

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October 23rd, 2012

Insurance companies and banks are often compared to one another. Both need to underwrite a customer. Banks underwrite to fund capital or access to capital. Insurance companies do the same when there is loss that needs to be funded. Thus, the insurance company is often called a crisis banker. Another similarity is that losses/profits for» Read Full Article

Surviving An Active Shooter Event: RUN…HIDE…FIGHT!

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October 22nd, 2012

Our hearts are heavy with yet another active shooter event in Milwaukee at Azana Spa in Brookfield, WI. Our thoughts and prayers go out to the families of the victims, and our wishes for a speedy recovery for the survivors. Unfortunately, violent attacks are becoming more prevalent in our schools and workplaces.  Being able to protect» Read Full Article

Real Life: Client Reaps Benefit of Umbrella Policy After Tragic Accident

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October 17th, 2012

A “real life” example from one of our clients comes from an unfortunate accident involving their son and his girlfriend.  Despite the tragic nature of the story, there was one less thing to worry about because they had proper insurance coverage. One of our insured’s 18 year old son was driving the insured’s car for» Read Full Article

Top 10 Scams Targeting Consumers

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October 17th, 2012

The Better Business Bureau compiled a list of the top 10 scams targeting people and we’re shocked that we haven’t heard of them! Scammers are getting more creative which means people need to continue to take addtional precautions. 10:  The job scam. An apparent employer, with a professional web site, conducts a phone interview and» Read Full Article

Preventing Catalytic Converter Theft

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October 16th, 2012

Catalytic converters can be stolen in less than a minute. The current prices for precious metals are fueling this demand and converters contain precious metals. Rhodium sells for roughly $9,500 an ounce, while platinum pays at about $2,000. If sold for scrap, stolen catalytic converters go for around $100 to $150. What Thieves Look For» Read Full Article

Real Life: Why Shouldn’t I Just Buy My Insurance Online?

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October 16th, 2012

With so many “name your own price” online insurance companies these days, we are often asked “why should I work with R&R Insurance when I can just buy my insurance online?” We had a gentleman approach one of our agents asking to review his current homeowners policy.  He believed he was paying too much with his» Read Full Article

CFO.com Insurance Rate Outlook: From Flat to Soaring

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October 15th, 2012

Great explanation from CFO.com about rates increasing for 2013 renewals and why now,  more than ever, it’s important to have your “house” in order. CFO.com recent article: Insurance Rate Outlook: From Flat to Soaring describes the current concerns CFOs have regarding their insurance premiums and the tightening restrictions from insurance carriers. Related Articles: 3 Ways to Improve» Read Full Article

How to Keep Your Flat Work Comp Dividend

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October 11th, 2012

Don’t be surprised if your renewal comes through with a significantly reduced dividend or none at all. The insurance market is changing. The soft market and other external financial factors warranted workers compensation carriers to offer large flat dividends to their commercial insureds. Those days are numbered. (See CFO.com September 18, 2012: Insurance Rate Outlook: From» Read Full Article