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Monthly Archives

January 2014

ROAD-TEST EMPLOYEES, AS WELL AS VEHICLES

By Construction Insurance Bulletin

Chances are that you’d never buy a new truck or front-end loader without trying it out to make sure it could do the job. Do you do the same for the vehicle’s operators?

Safety experts recommend that any employee who will be driving a truck should receive a road test of his or her driving skills before being hired. The examiner should be fully qualified to operate the vehicle, and familiar with the prospective operator’s past experience. The test should include all the necessary skills:

  • use of all controls; traffic operations (including backing, parking, slowing, stopping, passing, and turning)
  • general driving habits, such as alertness, stamina, and patience
  • driving rules and regulations pertaining to the vehicle
  • handling the necessary actions/equipment for loading and unloading the vehicle

For each skill or knowledge area, the applicant should receive a pass/fail grade. Each area of weakness should lead to further training or a corresponding limitation in the scope of the operator’s approved activities. Keep records and scores of these tests as documentation in the event of an accident or claim resulting from a driver’s actions.

For more suggestions on the format or content of driver exams, contact your trade association, state department of motor vehicles. Don’t forget the benefits of a solid driver training and testing program in keeping your Commercial Auto insurance rates under control.

Your drivers are taking your vehicles and your insurance coverage on the road every time they get behind the wheel. Wouldn’t it be a good idea to make sure that they’re capable of protecting both?

For more information, feel free to get in touch with or one of our agency’s risk management professionals.

NEW TECHNOLOGIES HELP CONTRACTORS MANAGE RISK

By Construction Insurance Bulletin

More and more construction contractors are using mobile and Web-based software solutions to qualify subcontractors, keep workers safe, and manage their vehicles and equipment.

For example, Weitz Co. (Des Moines, IA) uses a centralized electronic project bid and prequalification submission database for its subcontractors that has significantly reduced the labor and time needed to process submissions. Says Vice President of Risk Management Maria Matamoros, “We’re already seeing enhanced consistency in our pre-qualifications, and it’s helping us generate a high-quality subcontractor pool.”

Hoar Construction (Birmingham, AL) has a Web-based portal through which managers use their company-issued iPads to file state and federal inspection site inspection forms and access subcontractor evaluation reports, as well as a digital library of safety manuals and tutorials, “More importantly, it has allowed us to keep our superintendents and our project managers in the field,” according to Hoar Corporate Safety Director Bart Wilder, “which gives them more time to evaluate and find ways of mitigating risk.”

Goodfellow Brothers Inc. (Kihei, HI) upgraded its fleet with wireless handheld transmitters that operators use to submit daily inspection reports on their vehicles. During the two years since the upgrade, the company slashed its Auto Liability losses by more than 70%.

However, contractors need to make sure that new risk management technologies are compatible with their operations and workforce. “One size certainly does not fit all,” warns the Weitz Co.’s Matamoros. Goodfellow President Chad Goodfellow describes the new system as “a challenge for some of our people and for our management, because we want to demonstrate that we do trust our employees, but at the same time, we have to trust and verify.”

To learn more, please give us a call.

WELLNESS TIPS FOR FLU PREVENTION

By Life and Health

We’re in the depths of flu season – which makes it more important than ever for you and your family to stay as healthy as possible.

Although your first step should be to get immunized for influenza, you should also focus on keeping your immune system strong. Dr. Bruce Underwood, a certified nutrition and preventive care specialist with Healthy Futures, Inc., recommends these “best practices” for maintaining wellness:

  • Get enough rest. To keep your immune system as robust as possible, experts recommend six to eight hours a night of sound sleep.
  • Exercise regularly, but don’t overdo it. The Surgeon General urges adults to walk at least 10,000 steps, or about four miles a day. However, Underwood notes that both lack of exercise and over-exercising can weaken the immune system – so exercise common sense.
  • Make sure you get the right amount of essential nutrients. These include: 1) about 1,000 milligrams a day of vitamin C (from fruits vegetables, and certain cuts of meat) to counteract such toxins as cigarette smoke and air pollution, and the physical and psychological effects of stress; 2) 10 to 40 milligrams a day of zinc (from meats, seafood, dairy products, nuts, legumes, and whole grains) can help maintain a healthy immune system, however, taking more than 100 milligrams a day can lead to fever, fatigue, and other problems; and 3) 440 milligrams a day of fatty acids, especially omega-three acids of the EPA and DPH types (from fish, fish oil, and flax) for overall health, according to the International Society for the Study of Fatty Acids and Lipids.

An ounce of prevention!

UNCLE SAM BEEFS UP MENTAL HEALTH, ADDICTION COVERAGE

By Life and Health

New federal regulations under the Affordable Health Care Act (ACA) require insurance companies and health care providers to treat mental illness and addiction in the same way as physical ailments. That’s good news for everyone with health insurance.

The ACA prohibits denying coverage or charging higher premiums to due pre-existing conditions, which include mental illness, while expanding coverage for screening and behavioral assessments and eliminating co-payments or out-of-pocket fees.

The rules beef up the Mental Health Parity and Addiction Equity Act (MHPAEA) of 2008 by closing loopholes and setting implementation guidelines– an advance that Secretary of Health and Human Services (HHS) Kathleen Sebelius calls “the largest expansion of behavioral health coverage in a generation.” Under the regulations, mental health benefits must match those for medical and surgical treatment, including copayments, deductibles, number of visits to providers, residential treatment, and outpatient services.

The regulations could affect 62 million people, including 23 million substance abuse addicts. Administration officials called the new rules a response to the need to help the mentally ill get help before they commit such violent acts as the massacres in Aurora, DO and Newtown, CT.

Cynthia Moreno Tuohy, Executive Director of the National Association of Alcoholism and Drug Abuse Counselors, and American Psychiatric Association President Jeffrey Lieberman praise the rules for providing expanded care.

“Health plans have supported MHPAEA and worked to implement these requirements in a manner that’s affordable, safe and effective,” adds Karen Ignagni, President of America’s Health Insurance Plans, a trade group of health insurance companies. “The new regulations enable patients with mental and behavioral health conditions to keep benefitting from the innovative programs and services that health plans have pioneered.”

To learn more about how these rules will apply to your health insurance, feel free to get in touch with us.

DON’T STICK YOUR LOVED ONES WITH STUDENT DEBT

By Life and Health

College students are graduating deeper in debt than ever, as tuition and fees keep escalating while family incomes stagnate. The average student debt jumped to nearly $30,000 for the Class of 2012, compared to $26,000 in 2011, according to the Project on Student Debt at The Institute for College Access and Success. Average student loans in 2012 were even higher for newly minted physicians ($167,000), veterinarians ($152,000), and attorneys ($125,000).

If you’re a young professional with debts on this scale, you might well find it difficult to pay off these loans during the early years of your career, before you earn enough to build up savings. If you died before paying your loans, who would be responsible for the balance? Although federally financed student debts are forgiven in case of the borrower’s death, the burden of payment for a private loan would fall on your family or the guarantor (co-signer) of the loan – most likely your parents.

Not to worry. A term life insurance policy can cover this risk, so your loved ones won’t take a financial hit when they’re already reeling from grief. The policy will cover you for a fixed period, such as 10, 15, 20 or 30 years. You can either buy coverage for as long as the loans are likely to be paid off, or have a co-signer (for example, your mother) purchase a policy on your life, with herself as the beneficiary.

You can obtain this financial peace of mind for pennies a day. A 20-year, $250,000 term life policy for a healthy 30-year-old costs only about $150 a year, according to LIMRA, a life insurance trade group.

For more information, just give us a call. We’re always here to help.

LIFE INSURANCE AND CHRONIC ILLNESS: REALITY CHECK

By Life and Health

Just because you have a pre-existing medical condition doesn’t mean you can’t afford life insurance.

A nationwide survey by Genworth Financial concluded that many Americans fail to buy life coverage because they have a chronic illness that they believe will make insurance unaffordable. The study of 24,000 adults found that between 39% and 54% of those aged 18 and 64 with common, self-reported pre-existing conditions don’t have a life policy. (Overall, more than 118 million American adults went without life insurance in 2012, continuing a trend of fewer people buying less coverage).

However, recent advances in medicine and wellness care are making it easier for people to manage chronic conditions. At the same time, the insurance industry is using more sophisticated underwriting practices to provide preferred rates to people with less-than-perfect health, allowing companies to balance the need the need to price policies competitively with their ability to pay claims.

“We need to redefine the word ‘healthy’ in the context of life insurance eligibility,” says Janet Deskins, Genworth Senior Vice President for Product Development. “For adults with conditions such as anxiety, asthma, depression, high cholesterol, and sleep apnea, life insurance can still be an affordable part of their overall financial plan, especially if they’re actively taking steps to manage their condition.”

Eric Tyson, author of Let’s Get Real About Money and Personal Finance for Dummies, points out that not all insurance companies gauge risk the same way; “Some companies have a better understanding of certain medical conditions. You may be able to get much better rate that you expect. The key is managing your condition well.”

Even if you’re not in the best of health, the professionals at our agency would be happy to help you find quality life insurance coverage at an affordable rate.

RENTERS NEED INSURANCE, TOO

By Personal Perspective

If you’re renting a home and think that Homeowners insurance will pay for loss or damage to your belongings, think again.

A Homeowners policy covers the structure of a dwelling and lot, not the contents of the home. As a renter, you’ll need Renters insurance to cover your possessions.

Here are more tips about this coverage:

  • Because your possessions are worth only a fraction of a building’s structure, a Renters policy will cost much less than homeowners insurance.
  • If you have a roommate who carries a Renters policy, find out if it covers your belongings.. Chances are that you’ll need to buy your own insurance.
  • When you’re considering the amount of coverage, be sure list everything you have: appliances, rugs, and furniture (even hand-me-downs) Replacing a flat screen TV, refrigerator or bed. can get pricey.
  • Don’t assume that you can avoid a natural disaster Remember, anything can happen to anyone at any time. It’s far better –and less expensive — to be safe than sorry.

We’d be happy to provide you with help (including a sample inventory of household contents) to choose a policy that can protect your precious possessions, at a price you can afford.

WILL YOU BE TRAVELING IN THE NEW YEAR?

By Personal Perspective

Imagine, you’re getting away from the cold weather for a nice Caribbean cruise. You’ve been planning this trip for more than six months. Your bags are packed and ready. then a major snow storm strikes. cancelling all flights out of your local airport.

Let’s say you’re on safari in the African plains when you start feeling ill. You’re hundreds of miles from a hospital. Your guide is driving as fast he can, but it will take hours before you get to medical care, and you’re fading rapidly. To save your life, the guide has to call in a medevac copter.

Under these scenarios, you’d be out thousands of dollars — unless you have Travel insurance! This invaluable “peace of mind” coverage can provide total reimbursement for a trip that’s cancelled, as well as access to quality hospitals, pharmacies, and health care providers in case of death or illness (as well as other travel-related expense.

Don’t leave home without Travel insurance! For more information, feel free to get in touch with us.

DO YOU NEED R.V. INSURANCE?

By Personal Perspective

If you’ve just bought a recreational vehicle. and can’t wait to get on the road. will Auto insurance protect your pride and joy?

That depends. You might want to get an endorsement to your Auto policy that would provide coverage. However, since your R. means so much more to you than just transportation, it’s best to get specialized insurance that a typical Auto policy won’t cover. Recreational Vehicle insurance combines Auto, Homeowners, Renters, and Travel coverages into a single policy that will also insure generators, water pumps and refrigerators – items that standard Auto or Homeowners policies would not cover.

The amount of coverage will depend on the value of the RV and its contents, as well as your driving record.

Before you hit the open road, give us a call our office for a comprehensive policy on your vehicle so that you can get behind the wheel with peace of mind.

Happy trails!

THE ABCS OF INSURING YOUR CAR

By Personal Perspective

It’s become common practice for states to require that drivers carry a minimum amount of Auto coverage, with the amount varying by state.

The amount of insurance you buy depends on two basic questions:. 1) How high a premium can you afford? and 2) How much could an accident cost you?

Which coverages should you choose? Liability insurance will pay for damage that you cause to another motorist’s vehicle, and their medical expenses, if applicable. Each state sets a minimum amount for coverage.

Comprehensive Insurance will cover damage to your vehicle, including fire, theft, vandalism, and contact with falling objects, ,people, or animals.

Collision insurance is optional, however it is always a good idea to carry it. Collision insurance will pick up the tab for damage to your vehicle from objects such as telephone poles, buildings or fences. Although this coverage is optional, it’s almost always a good idea to carry it.

For a complimentary, comprehensive review of your Auto policy, feel free to contact our office at any time. As insurance professionals, it’s our obligation to make sure that you have the coverage you need to protect yourself.