Test Your Home. Protect Your Health.
The Environmental Protection Agency (EPA) has designated January as National Radon Action Month. As part of this safety campaign, American’s are urged to protect their health by testing their homes for radon.
Dan M. Molyneaux, Jr., CPCU, ARM, CRIS
Chief Executive Officer
Many of our clients, regardless of industry, are being impacted by market changes in the insurance market. A clean loss record may help mitigate some of the impact, but it does not spare clients from these market actions.
This is a big picture trend in the insurance industry.
Allow me to explain what is happening.
Winter weather is tough on nearly everything, including your roof. Harsh winds, the stress of freeze-thaw cycles, and the weight of the snow can affect a roof’s structural integrity. The damage can range from a leak to a roof collapse.
As the temperature drops, pipes exposed to the cold are prone to freeze. This is especially true for pipes located in unheated areas like basements, crawl spaces, attics, and garages. Pipes that run along poorly insulated exterior walls can also be affected by the extremes in temperature.
The continued freezing and thawing of these pipes can cause the material to become weak and break. When this happens, water fills the room, causing significant damage. A crack measuring as little as three millimeters can send as much as 250 gallons of water a day into the house or building.
Because your home or building is a valuable asset, it’s critical to take preventive steps to avoid major inconveniences, high repair costs, and higher insurance costs.
In the course of doing business, you may sometimes find yourself entering into contracts requiring that your business be named as an additional insured on another party's insurance policies.
This is often done to protect your business from losses for which you may be legally liable as a result of the business relationship you have with the other party, but that are not due to your own business's direct negligence.
An additional insured is defined as an individual or entity that not automatically included as an insured under the policy of another, but for whom the named insured's policy provides a certain degree of protection.
When stores lease real estate spaces or construction firms win jobs, the party on the other end usually has a particular set of requirements.
One of the requirements is that the tenant, contractor, or borrower show proof that he or she has adequate insurance.
Copies of insurance documents may be sufficient. But, not all companies want copies sitting around. A suitable substitute for document copies is a certificate of insurance.
Business owners who form a corporation or a limited liability company (LLC) may question the need for the business to carry insurance. A significant benefit of these forms of business organization is that they shield the owners' personal assets. Because of this, they may believe insurance is unnecessary.
Many businesses that produce some type of pollutant throughout the course of daily operations don't know they are doing so.
Those businesses that know they are producing pollutants have processes and safeguards in place to reduce their release into the environment. However, it’s important to understand that a business can be held liable for some very costly damages when these byproducts pollute another property or harm another individual.
People often worry about fires damaging their homes and commercial buildings. While fires are dangerous and can cause extensive damage to property, they are rare compared to another element that is in the home or building every minute of every day: Water.
In October and November of 2011, floods inundated large parts of central Thailand, including thousands of factories that made everything from automotive parts and hard disk drives to eyeglass lenses and air conditioners. In addition to the human and economic cost in Thailand, the disaster affected businesses around the world.