At the onset of the COVID-19 outbreak in the U.S. we wrote to let you know the steps we were taking to protect our employees, while keeping our commitment to serve the insurance needs of our clients.
It has been two weeks since our agency took the unprecedented step of moving our front-line employees to a remote working environment and limiting all client activity within the office. While we look forward to a return to normalcy, the dedication of our employees and our agency’s investment in technology has allowed us to not miss a step in our transition to a remote service model.
We have learned valuable lessons along the way in implementing this structure, but it has only strengthened our ability to serve our customers regardless of the circumstances. We will continue to improve our processes as we go. Our employees are accessible by email during business hours and our main phone number 860-582-8161 is staffed by a live receptionist weekdays between 8:30 am and 5 pm as usual. Our full team of Sales Executives and Account Managers are ready to assist in any way necessary.
We continue to be in constant communication with our Insurance Company partners. If the current COVID-19 pandemic has impacted your ability to pay your insurance premiums, please let us know and we will advise if alternate arrangements can be made.
There are a few homeowner insurance coverages that almost everybody has but very few think about. Personal liability is one of those coverages and even lower on the totem pole is medical payments coverage. However, that doesn’t mean it isn’t important (especially this time of year).
For starters, let’s clarify what it is along with what it isn’t. It’s a coverage that covers medical expenses to others. It isn’t a coverage that applies to you or the regular residents of your household.
Side note: many insurance companies, including Central Mutual, clarify this on their policy declarations pages by titling this coverage “medical payments to others.” However, there are still insurance companies out there that don’t specify this on the declarations page, so I wanted to point this out.
Let’s get back to what the coverage is. It will pay for reasonable charges for medical, surgical, x-ray, dental, ambulance, hospital, professional nursing, prosthetic devices, and funeral services sustained by someone as a result of an accident causing bodily injury. Typically, injuries caused by animals owned by the insured will also be covered.
However, if my five-year-old son would have sustained some sort of injury by accidentally swallowing his loose tooth (true story that happened a few weeks ago), there would not have been coverage since he’s a resident of my household.
There are also limitations and exclusions in the homeowner policy pertaining to injuries that are sustained away from the insured location as well as anyone who is eligible to receive benefits under workers compensation, non-occupational disability, or occupational disability.
I mentioned earlier that this coverage is important this time of year. The reason that was brought up is that the most common type of medical payments claim we see is of the slip and fall variety. Unlike personal liability coverage, a homeowner does not have to be legally liable for an accident in order for medical payments coverage to kick in. Therefore, icy and/or snowy conditions create a perfect recipe for medical payments claims.
With this in mind, take a look at the medical payments limit on your homeowner insurance policy and consider whether or not you feel the limit is adequate. It’s quite common to see a $5,000 limit for this insurance coverage and we still run across situations where someone has $1,000 as the limit. Typically, you can increase the medical payments limit from $5,000 to $10,000 for just a few dollars a year, so it might be worth it to provide yourself with a little extra protection in case a guest at your house slips on snow, ice, or a loose tooth.
The coverages here are described in the most general terms and are subject to the actual policy conditions and exclusions. For actual coverage wording, conditions, and exclusions refer to the policy or contact your agent.
Now that it is National Cyber Security Awareness Month, what better time to educate yourself on the current levels of cybercrime around the world. More than half of mid-market businesses have experienced a data breach, and more than 175 million individuals become victims of cybercrime annually. In fact, cybercrime is growing so rapidly it is projected to cost the world $6 trillion annually by 2021, representing “the greatest transfer of economic wealth in history,” and becoming “more profitable than the global trade of all major illegal drugs.”
Cybercrime affects individuals, families, and businesses.
Cybercriminals seek out vulnerabilities in our computer networks and online behaviors. Hackers and identity thieves spare no person or business. Particularly vulnerable groups include minor children, college students, senior citizens, natural disaster victims, and small businesses.
What are the most common cyber risks for individuals and families?
As the average person spends more time online, both individuals and families encounter many new cyber risks, from identity fraud to dangerous doxing and cyberbullying. Identity thieves can gather personal information from social media and cyberstalking, as well as phishing e-mails and fake websites to help them impersonate you and/or take over financial accounts.
Other online threats can be both physical and emotional. Doxing—or publishing a person’s physical location and contact information—can result in reputational harm and even threats of physical confrontation. Cyberbullying causes emotional dismay and reputational damage. On dating websites fake profiles get created to “catfish” victims—sometimes for the perpetrator’s personal fun but other times for more nefarious purposes. Finally, cyberstalking can lead to very real—and dangerous—physical stalking behaviors.
What are the most common cyber risks for businesses?
Modern companies run on information technology. Data about customers, employees, sales orders, operations, research and development, and financials are the beating heart of any business. Between cloud software, the Internet of Things, and e-commerce, more business information gets exchanged online than ever before.
The greatest cyber threats to businesses are the theft of company data through a data breach and the disabling of IT networks by ransomware. Many times, cybercriminals gain the information or credentials they need to attack business networks by sending phishing e-mails to employees or executives. These e-mails can look very authentic and appear to come from people inside your company. Cybercriminals spend time researching organizations in order to use social engineering to fool their targets into opening the phishing e-mail.
Own IT. Secure IT. Protect IT.
This year, the theme of National Cyber Security Awareness Month is “Own IT, Secure IT, Protect IT.” Hackers are always at work—they never rest. There is no time to wait. Take action now to secure and protect your personal identity and business data.
OWN your IT and personal information by educating yourself about cyber threats.
DON’T OVERSHARE personal or financial information on social media platforms.
BE SELECTIVE about who you connect with on social platforms or dating websites.
REVIEW PRIVACY SETTINGS for social media and other applications.
SECURE IT changing your online habits to enhance your cyber defenses.
STRENGTHEN PASSWORDS on computers, devices, and websites and change them regularly.
AVOID PHISHING e-mails and don’t click on links from people you don’t know or e-mails that don’t seem legit. When in doubt, telephone the recipient and ask.
TURN ON MULTI-FACTOR AUTHENTICATION to make your logins more secure, especially on any website where you do online banking, bill payment, or shopping.
SHOP SAFELY by making online purchases only from well-known stores and brands and always looking for the https:// in the URL before entering payment information.
PROTECT IT by implementing solutions and services that can increase cybersecurity and monitor against suspicious events.
INSTALL SECURITY SOFTWARE including anti-virus and anti-malware to protect personal and business computers.
UPDATE SYSTEMS to ensure your web browser and operating system have the latest security updates.
IDENTITY AND CREDIT MONITORING services watch for unusual activity 24/7/365, alerting you to any trouble.
BACK-UP DATA regularly to protect yourself and your business from hard drive/server failures and ransomware.
Another way to protect yourself is to invest in cyber insurance. Many insurance companies offer solutions for both businesses and personal protection. Contact your independent agent to learn more about these coverages and how they can protect you, your family, and your business from the effects of cybercrime.
Content provided by CyberScout.
 “Small and Mighty—CyberSecurity Special Report,” Cisco, July 2018.
 “Norton Cyber Security Insights Report Global Results,” Symantec, 2017.
 “2019 Official Annual Cybercrime Report,” Cybersecurity Ventures
If you’ve watched any college football over the past several years, you’ve probably seen multiple commercials from a certain insurance company that likes to show an imaginary college professor walking an individual through a building containing exhibits that represent different claim situations. The commercials show what happened while the professor narrates, then at the end of the story he states, “we covered it.”
Although many of these claim scenarios appear to be unusual, they would likely be covered by anypersonal insurance program – as long as the right coverage is in place.
With that in mind, let’s take a look at some of the most common insurance coverages that are often misunderstood. Making sure your personal insurance program includes these can make the difference between having your claim fully covered versus having it denied due to lack of proper coverage.
Comprehensive Coverage: This is physical damage coverage on auto policies that is sometimes referred to as “other than collision.” In short, this coverage protects your vehicle against physical losses that don’t result from a collision (although there is one animal-related exception to this). Perils such as fire, theft, vandalism, glass breakage, and hail are all covered under comprehensive coverage. In addition, if your vehicle collides with a bird or animal, it will be deemed a comprehensive loss rather than a collision loss (this is the exception).
Collision Coverage: This is a little more straightforward, as it covers your vehicle against accidents where the vehicle is “upset” (turned over) or where it impacts another vehicle or object.
Personal Umbrella Policy: Possibly the most misunderstood personal insurance coverage out there, the personal umbrella policy is not a property-centered insurance policy that “covers everything;” rather, it is a liability policy that provides you with additional liability limits (typically in $1 million increments) that extend over your various forms of liability insurance, be it personal liability, auto liability, watercraft liability, landlord liability, etc.
Inland Marine Policy: While personal umbrellas are typically the most misunderstood, inland marine policies are the most confusing because the items covered under these policies usually have nothing to do with marine exposures! These are also referred to as personal articles floaters or scheduled personal property endorsements. No matter what they are called, they can provide protection against losses to unique and valuable items such as jewelry, fine arts, and collectibles that are scheduled, stated, or listed on your policy Declarations Page.
Finally, just in case you were wondering, one of the commercials in the aforementioned series shows a truck crashing into a house. Most homeowner insurance policies would typically cover this, so don’t think that you need some sort of extra coverage for it!
When in doubt about a coverage term or the type of coverage you need, reach out to your local independent agent as he or she is always ready to help.
The information above is of a general nature and your policy and coverages provided may differ from the examples provided. Please read your policy in its entirety to determine your actual coverage available.
Capital One announced recently that a hacker had accessed the personal information of 100 million individuals in the United States and 6 million in Canada that had applied for credit with the Virginia-based bank. The affected information includes credit scores, linked bank account numbers, Social Security and Social Insurance numbers and additional information that was provided at the time of credit application.
With the full scope of this breach still unfolding, here are some immediate steps you can take to protect your identity:
Consider placing a credit freeze on your files to make it difficult for someone to open a new account in your name.
Check your credit reports. Identify what information it contained and look for any unusual activity that could indicate identity theft.
Pay extra attention to your account and billing statements. Check for unauthorized charges.
Change all user access credentials. If you use the same passwords for all financial institutions, change them. Watch out for suspicious e-mail, phone and snail-mail scams. Enable text and e-mail alerts and turn on two-factor authentication when possible.
For additional tips and resources, visit www.cyberscout.com/knowledgecenter to learn about the best ways to minimize your risk and help protect your personal information.
While homeowner insurance covers individuals and families for many day-to-day claims involving water damage, roof damage, and the like, it is potentially there for you when the unthinkable happens and your house is completely destroyed.
Dozens of questions arise whenever a catastrophic circumstance occurs; however, there is one question you should ask yourself prior to such a situation: how will my homeowner insurance policy respond to the loss of my home?
Traditional homeowner policies have specific limits of insurance for the dwelling, detached structures located on the residence premises, and for contents. Once those limits of insurance are exhausted, additional payments cannot be made for property covered under the exhausted limit. However, several coverage enhancements have entered the marketplace over the years and homeowners now have additional options to guard them against the worst-case scenario of not having enough insurance coverage to adequately rebuild or replace their home.
When I was in 2nd grade my mother helped me write a poem that ended up being published in our school newsletter.
I saw a little snowflake all dressed in white, it landed on my windowsill just the other night. The night I saw the snowflake I went to tell my mother, when we got back, guess what, there came another.
I often think about this as we enter the winter season. It’s funny how your childhood memories carry so much meaning in your adult life.
Most of us have endured a snowstorm in our lifetime. It can be thrilling, scary, or even inconvenient depending upon where you live, what your past experiences have been, and what impact it has on you at that moment. When I wrote the poem above, I was thrilled by a snowstorm. It meant a day at home to watch TV, go sleighing, and drink hot cocoa – all better options than going to school. As we get older, our experiences influence our responses to many things including snow storms. The thrills of youth become the anxiety of old. Keeping yourself, your family, and your home safe are most important. You should always pay attention to driving conditions, whether you have a 4-wheel drive vehicle, or one that you may be most vulnerable in.
Anyone who has ever rented a residence (or is currently considering renting a residence) has most likely heard about the importance of having renters insurance in place. We all know that our “stuff” is important and needs protecting. We also know that these types of policies provide liability coverage, but we may or may not fully understand what that means.
But what if you’re a landlord? Should your tenants have renters insurance?
Absolutely! Your house, condo, or apartment is just as valuable as your tenant’s “stuff,” correct? Here’s why it shouldn’t only be suggested but required by the terms of your lease.
The sharing economy is a term that describes the peer-to-peer economic model in which individuals can rent or borrow assets (goods and services) owned by someone else. Other names include the gig economy and access economy. While the practice is not new, due to the rise of Internet commerce, it has rapidly expanded in the last decade and is estimated to grow to a $335 billion business by 2025. Such rapid growth is understandable considering anyone with reliable Internet access can partake. Companies such as Uber, Lyft, and Airbnb are leading the way with global operations and millions of users worldwide. While such easiness makes these platforms accessible, they also present pitfalls and dangers that are not present in other forms of commerce. Whether you are thinking about joining the sharing economy or are already partaking, realize that there are dangers.