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FEMA Unveils Changes to the National Flood Insurance Program

The Federal Emergency Management Agency (FEMA) announced that it will be updating the National Flood Insurance Program (NFIP) pricing methodology through a new risk rating system. According to FEMA, this system—which is being referred to as “Risk Rating 2.0”—will leverage additional information and variables to help communicate policyholders’ flood risks more clearly, as well as […]

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Avoiding Contractor Fraud

The average homeowner isn’t likely to know much when it comes to the costs of materials and labor put into home repairs. As a result, it’s important to stay informed when dealing with contractors so you don’t end up paying for repairs you don’t need. It’s often said that if something seems too good to […]

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Life Insurance Basics

If you are married, it’s important for both spouses to have a life insurance policy. If both people bring in an income, a death can be a difficult financial loss. Also, if a stay-at-home parent should pass away, expenses such as childcare and other domestic items can create financial hardship, too.  There are two basic […]

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Factors Driving a Hard Insurance Market and How to Respond

From an insurance buyer’s perspective, it can sometimes feel as if premium prices change on a whim. But the truth is that the insurance market is cyclical in nature, fluctuating between soft and hard markets: Soft markets—A soft market, which is sometimes called a buyer’s market, is characterized by stable premiums, broader terms of coverage, […]

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Will my auto insurance cover a rental car?

When renting a car, the rental company will typically ask if you’d like to purchase insurance coverage for the vehicle. It’s at this point when you have to ask yourself: Do my personal insurance policies provide the coverage I need, or should I purchase insurance through the rental car company? Although standard auto insurance policies […]

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How does recoverable depreciation work?

Recoverable depreciation is an important, and often misunderstood, concept in the insurance industry. If you’re currently in the process of making an insurance claim, or, if you own insured property and assets that are subject to future claims, then it’s important you understand how recoverable depreciation works. Under most insurance policies, claim reimbursement starts with […]

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Hurricane Preparedness for Businesses

Hurricanes generate a series of threats to lives and property. The most obvious is the threat posed to buildings, equipment, and people by the high winds which characterize such storms.

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Advanced Business Planning for Natural Disasters

Of all businesses that close down following a disaster, more than 25 percent never open their doors again. While there’s no way to lower the risk of a natural disaster from hurricanes, there are critical measures that can be taken to protect your company’s bottom line from nature’s fury. A disaster plan and adequate insurance […]

Protecting you and your family before, during and after a hurricane

Hurricanes are capable of producing winds in excess of 155 miles per hour and causing catastrophic damage to coastlines and several hundred miles inland. Additionally, hurricanes can also lead to storm surges along the coast and cause extensive damage from heavy rainfall. All Atlantic and Gulf of Mexico coastal areas are subject to hurricanes. Parts […]

Personal Automobiles for Business Use

According to the U.S. Census Bureau, there are more than 240 million registered motor vehicles in the United States, and an estimated one-fourth of those are used for business in some way. If you have employees who use personal vehicles for business use, you could be exposing your business to a significant liability risk. Even […]