E-Bike Fires: A Guide for New York’s Insured In the rapidly evolving landscape of electric bicycles (E-Bikes), also known as Micro Mobility Devices (MMD) across New York State, safety standards have emerged as a pivotal concern, especially given the massive influx of these devices. In 2021 alone, almost 900,000 E-Bikes were imported into New York…
Business Extender for SMP, BOP and Commercial Fire Our Business Extender can give the insured that little bit extra that can really make the difference during a claim. For an additional premium (SMP/CF $275 and BOP $225 or about $9-$11 per coverage) twenty-five additional coverages are offered. The extender coverage applies in excess over other…
The first payment for a new insurance policy, also known as a down payment, is many times the most important. The payment is calculated as 25% of the total annual premium, plus any applicable New York State Fire Fees in full, plus a full installment fee. If the payment plan selected is Annual, the full…
Many homeowners may surprisingly answer this as “YES”. Choosing or verifying a building limit is an important part of issuing or renewing an insurance policy. If a loss occurs, it will be essential that the limit is high enough to indemnify the insured for a loss. The value of your home can increase for several…
Slips, trips and falls are among the greatest workers’ compensation and general liability exposures. Two of the most common causes for slips and falls are slippery and uneven walking surfaces. It is important to take the time to evaluate every area of your facility and find where these risks could arise, specifically high-traffic areas. Best…
Trim the fat: Flare ups usually happen because of excess fat, sauces or oily marinades. Trim off some of the fat without sacrificing flavor. Keep the lip open: When searing fatty foods, leave the grill lip open Avoid wind: Try to keep your grill away from windy areas. Wind forces oxygen between the grates which…
Are you the owner of a building with residential tenants? Good, let’s talk! As a residential building owner, you’ve likely gone through all the hard work – made sure your building is safe and sound, handled all your city/state code requirements, and obtained the proper building insurance coverage. And then life happens! Disaster strikes, and…
Our Statewide underwriters are eager partners ready to help your agency grow its book of business. A complete underwriting submission helps your underwriters quickly and efficiently rate your new business resulting in faster turnaround on quotes. Missing information on Statewide or ACORD applications significantly delays the underwriting process and causes additional efforts by all parties….
There is no “I” in Team yet. . . there is “me” in team. The “me” in team is about the importance of what you do that makes your team the best it can be. This “me” first mindset focuses on doing your part, first, to do all you can do, be all you can…
When binding a policy under a business entity name, please use a bank account associated with the entity to ensure that you can deposit a check as the payee. The bound entity name on the policy is the same name that a refund will be issued to. An incorrect theory regarding issuing refund checks, the…
We are always being told that “Change is constant.” Twenty years ago, I personally added to this phrase – “Change is constant; only the velocity varies.” Actually, “velocity varies” implies there is a possibility that the rate of change might slow down. This is not true, it only accelerates. The telephone was invented in 1876,…
The prevalence of cyber-attacks is almost unavoidable. Some cyber-attacks are so large or significant that they can make the TV news but if you are anything like me you have had your friends tell you their Facebook account was hacked, or you have received a data breach notification email from some website to which you…
Drift = Do It Right The First Time! We are all so busy trying to service our clients up to their satisfaction. Sometimes it seems like there is not enough hours in our days to take care of the things that need to be taken care of. Our tendency is then to “rush” to get…
No one wants to return from a vacation to find that something has gone wrong back home. An empty house or structure is unfortunately an ideal target for criminals. Here are a few preventative measures to ensure a situation like this does not ruin your trip!
All of us are busy and like to be able to get the next “task” at hand done as quickly as possible. None of us like to feel like things are taking longer than they need to get the information we need, or our situation resolved. When contacting Statewide Underwriting Services (SWUS) providing basic information…
As public health officials urge everyone to help stave off the coronavirus by cleaning surfaces with disinfecting wipes, water officials have seen an increase in the number of people flushing wipes, paper towels, and facial tissue down the toilet. With all the excess, plumbing pipes, sewer systems, and wastewater treatment plants are being overwhelmed. It is causing additional problems for homeowners, renters, businesses, other government and private entities, and the environment.
Slips, trips, and falls are among the most significant workers’ compensation and general liability exposures. Two of the most common causes for slips and falls are slippery and uneven walking surfaces. It is essential to take the time to evaluate every area of your facility and find where these risks could arise, specifically high-traffic areas.
Many factors and variables are driving the change in cycles. They include Available investment capital, investment returns, cash flow, claim losses- especially large CAT events, claim costs, underwriting standards, and most certainly reinsurance cost and availability. When several of these factors begin to align together, they trigger a change in the cycle. Over the past several months, we have started to see the cycle change to a hard market for property and casualty business lines. Every insurance company is having negotiations with their reinsurers and pricing is increasing like many other
product insurances that are subject to supply and demand. The cost is then passed on to the retail consumer, our policyholder.
f your small business customers are new to e-sales, they need to know a few things to avoid a sales tax trap. Here are some ways you can help them…
Frozen pipes continue to be one of the most prevalent issues for Insured’s and Insurers alike during the winter and early spring months. Do not leave yourself exposed to the costly repairs and damage that could result from a burst pipe. Many people tend to overlook the damage that a winter cold spell or storm can cause.
