Insurance Incorporated

Heavy rain overwhelmed Southern California this past President’s Day weekend. When heavy rain falls, so is the chance of water and flood damage to your home! You want to make sure you are prepared as flooding is the nation’s leading nautral disaster.

The National Flood Insurance Program (NFIP) is a Federal program enabling property owners in participating communities to purchase insurance as a protection against flood losses. Participating in the NFIP is based on an agreement between communities and the Federal Government. The program is administered by the Federal Emergency Management Agency (FEMA) and provides flood insurance protection to property owners, renters, and business owners in communities that participate in the program. The House subcommittee on Insurance, Housing, and Community Opportunity will hold a hearing on the future of the National Flood Insurance Program (NFIP) on Wednesday, March 9.

FLOOD INSURANCE COVERAGE

In general, coverage is provided for direct physical loss to the property from a flood which is described as:

A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:

a. Overflow of inland or tidal waters
b. Unusual and rapid accumulation or runoff of surface waters from any source
c. Mudflow – defined as a river of liquid and flowing mud on the surfaces of normally dry land areas such as when earth is carried by a current of water. Landslide, slope failures, or saturated soil moving down a slope are not mudflows.

In general, the policy excludes losses caused by:

Earth movement, even if the earth movement is caused by flood. Examples of excluded earth movement include:

Earthquake;
Landslide;
Land subsidence;
Sinkholes;
Destabilization or movement of land resulting from accumulation of water;
Gradual erosion;

The maximum limits available are:

Residential – $250,000 for the structure and $100,000 for the personal property

Commercial- $500,000 for the structure and $500,000 for the contents

Act Before March 1^st to get Lower Premiums for the Health Care Your Children May Need!!

Due to many employers cutting back on employers health insurance, more families are resorting to purchasing insurance on their own for their child or family. That being said, Californians need to start shopping around in these “individual markets” to find the right protection. However, it can be expensive. The California Department of Insurance had announced new health care options for uninsured children. Keep these in mind when you are shopping around:

• No More Denials for “Pre-Existing Conditions”
  Because of the new federal health care law, all children must be offered health coverage if they apply. Insurance companies can no longer deny kids coverage because of a “pre-existing condition” like asthma or diabetes.
• Apply Before March 1^st to Avoid Much Higher Costs
  If you wait and apply after the “open enrollment period” ends on March 1^st, you could face much higher premium costs since there are no limits on premiums outside the open enrollment period. After March 1st, the next “open enrollment period” is the month your child was born. For example, if your child’s birthday is August 8^th, you can apply during the entire month of August, without facing significantly higher premiums. (There are other open enrollment periods based on changes in family circumstances such as a birth, divorce, job loss, or loss of public coverage.)
• Keep Your Children Insured to Avoid Higher Costs
  You may face a significant penalty premium increase (20 percent) if you let your child’s coverage end and then apply again, so keep your children insured.
• You Have Protections if Your Child is Denied Coverage
  Remember, the health care law means that no child should be denied insurance for health reasons. If your child is denied coverage for any reason, call the state health insurance hotline at 1-888-466-2219.

You’re probably wondering how Superbowl Sunday has anything to do with insurance. However, a major part of the pizza industry has to deal with insurance:pizza delivery.

According to Pizza Today, Americans will consumer 30 million slices of pizza on Sunday, making Super Bowl Sunday one of the busiest day of the year for pizza chains. Papa Johns, the official sponsor of Superbowl XLV, expects to sell more than 900,000 pizzas at its 2,800 U.S. restaurants.

That’s a lot of pizzas being delivered. Of course, the vehicles making those deliveries need commercial auto insurance. Having all these pizzas delivered, in addition to the time guarantee that most pizza chain implement, there is an increase of risks and claims.

Having a safer workplace can have a siginicant impact on your employee productivity, but most importantly, your costs. When practicing a safe work environment, it could help control the cost of workers comepensation. When there are fewer losses and claims, it ultimately leads to a lower experience modifcation, or ex-mod, which could save you a ton of money! For example, another business in the same category, or class code, as you could be paying more or less depending on the ex-mod. It could be either a credit or a debit (Ex. 1.20 or .80) which is multiplied by the total premium on the policy.

Here are some tips for you to help create a safe work environment:

1. Define Measureable Program Objectives

Align all executives with key program metrics such as frequency and severity reduction, while requiring unilateral commitment to the safety program.

2. Provide Appropriate Employee Training

Initiate formal training at the top of the organization before filtering it down to the front line employee level.

3. Determine Roles & Responsibilities

While training remains on-going, assign specific safety enforcement tasks to each level of management including senior executives, managers and supervisors.

4. Enforce and Reward Program Performance

Require constant and consistent enforcement of safety rules, while incorporating performance of these tasks into formal reviews and reward programs.

5. Establish Loss Control Plans

Following a loss, help employees feel productive as quickly as possible through formal Return to Work programs, while establishing an open and honest dialogue with the injured worker and claims examiner. This is important!

Keep in mind, in the State of California, failing to have workers’ compensation coverage is a criminal offense. According to Section 3700.5 of the California Labor Code makes it a misdemeanor punishable by either a fine of up to $10,000 or imprisonment in the county jail for up to one year, or both.

Here at Insurance Incorporated, we want to help promote a safe work environment for you and your employees. Visit our website for more details or give us a call at our office today!