August 26, 2020
Please call Lee from USAsurance & Calle Financial. 954-270-7966, Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer
Stay safe to all??????????????????????????????????
https://www.insurancejournal.com/news/southeast/2020/08/26/580363.htm
August 20, 2020
Please call Lee from USAsurance & Calle Financial. 954-270-7966, Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer
August 20, 2020
Please call Lee from USAsurance & Calle Financial. 954-270-7966, Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer
Lawsuits over denial of coverage for business interruptions due to COVID-19 are piling up in New Jersey courts, but some experts expect the plaintiffs will have a difficult time recovering.
The District of New Jersey saw 20 COVID-19 business interruption suits filed or removed from state court in July alone. A similar pattern is taking place across the nation, and a proposal before the Judicial Panel on Multidistrict Litigation to consolidate those suits could create the largest MDL ever.
Insurance carriers typically say that claims for closures related to COVID-19 are not eligible for business interruption coverage because of a lack of damages to the premises. The plight of businesses whose claims for coverage were turned down has been a high-profile issue, with lawmakers in New Jersey and elsewhere weighing various measures that would mandate coverage under some circumstances.
A bill that would require insurance companies to cover business interruption claims related to the COVID-19 emergency declaration was introduced earlier this year in New Jersey’s Legislature, where it stalled. The Assembly gave the bill a second reading on March 16 but it never reached a floor vote because of discussions over amending it. The measure never made it to the Senate floor as part of a group of bills that made up a COVID-19 emergency package.
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August 12, 2020
Please call Lee from USAsurance & Calle Financial. 954-270-7966, Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer
Odds are, motorists are bound to get ticketed for some kind of moving violation at some point. How much that ticket will cost can be minimal, but its impact on insurance premiums can be significant.
Overall, the more a driver puts themselves and others at risk, the costlier their insurance policy will be.
For instance, drivers who get ticketed for forgetting to turn on their lights pay an average of $68 more per year for car insurance than drivers without any violations on their record, according to The Zebra. Drivers who get a ticket for speeding in a school zone will see an average insurance increase of $342 per year.
The riskiest violations, however, can more than double an existing auto premium. Depending on the state or city, the same offense could increase rates by 36% or by 383%. Moreover, high-cost penalties hit drivers twice as hard in low-income states, The Zebra researchers said.
Focusing on the greatest threats to insureds, six violations cost drivers over $1,000 a year in rate hikes and have the biggest impact on auto insurance premiums.
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August 7, 2020
Please call Lee from USAsurance & Calle Financial. 954-270-7966, Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer
If you want this coverage, now it will cost so much more. The existing coverage requires property damage to have occurred like a fire or Hurricane. This coverage was always available at a higher premium, but most never want to pay for it till needed.
The insurance industry has notched another victory in its defense of its commercial insurance policies against claims for business interruption due to the coronavirus.
In a case brought by the owner of several restaurants against its insurer over business interruption due to the coronavirus shutdown ordered by the mayor, a District of Columbia Superior Court judge has sided with the insurer, ruling that the restaurant’s insurance policy is not triggered because the shutdown did not amount to direct physical loss.
Finding that the plaintiff restaurants failed to prove there was any direct physical loss, Associate Judge Kelly Higashi on Thursday granted a summary judgment in the suit in favor of Erie Insurance Exchange.
In March, D.C. Mayor Muriel Bowser issued several orders. They included a ban on indoor dining, the closing of all non-essential businesses, and an order for residents to shelter-in-place. Rose 1 had to close its restaurants as a result.
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https://www.insurancejournal.com/news/national/2020/08/07/578232.htm
August 6, 2020
Please call Lee from USAsurance & Calle Financial. 954-270-7966, Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to the employer.
As hurricane season heats up, a growing number of properties located outside of FEMA-designated high-risk flood zones are already flooding. The problem is especially bad in the urban areas of America’s cities. A national survey shows nearly 85% report experiencing urban flooding. Insurance claims are on the rise, too.
“Urban flooding is kind of this hidden danger among all flood risks in the United States,” according to Dr. Sam Brody of Texas A&M University and Director of the Center for Texas Beaches and Shores.
It occurs mostly in high growth areas, where development brings rain impervious surfaces, such as roads, driveways, and parking lots, which change the natural drainage pattern of the land.
“It’s bringing flood impacts to unexpected areas, sometimes miles outside of the FEMA-designated 100-year flood plain.”
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https://www.insurancejournal.com/news/southeast/2020/08/06/578090.htm
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