Category Archives: Insurance

New Bond Requirement for Charitable Solicitation

The Charitable Solicitation Bond will guarantee that you will not misrepresent yourself or your charity while engaging in fundraising activities. Members of the public and the charities can collect on this bond. It seems like this is the Colorado legislature’s answer to several cases of sham charities operating in Colorado over the last several years.

Effective on August 10, 2016 all organizations or persons who are paid to raise money for charities in Colorado will be required to file a $15,000 bond with their registration notice to the Secretary of State’s office. If you are currently registered, you will not be required to have this bond in place until you renew your registration after August 10, 2016. Anyone who files this form as required by state law, will also be required to provide a Bond written by a Surety company authorized to do business in Colorado.

We are writing these bonds for $150.00 at the present time. Only people and organization that raises money for a fee for the charity will be required to post this bond. The individuals that work for the fundraising organization do not have to buy this bond. If you are an individual paid to raise money as a contractor, then you will need to file this notice and purchase a bond.

We can make this new requirement easy for you, one phone call and you are done if you qualify.

More information about registering a charity or fundraiser with the Secretary of State of Colorado is available on their website.

The full bill is also available online for light reading.

We are upgrading our phone system!

We are upgrading our phone system!
Please feel free to reach out to our staff at their new numbers below:

 

Business Insurance

  • Stephen Brunston, 303-755-2046
  • Jay Oliver, 720-500-3753
  • Robin Muckey, 303-755-8893
  • Cyndi Pissare, 720-500-2281
  • Shannon Brunston, 303-747-4012

Personal Insurance

  • Mary Beth Brunston, 720-500-2410
  • Jazmin Montano, 303-755-5765
  • Tomas Ooka, 303-872-3158
  • Sara Martinez, 303-755-2176

Claims Assistance & Reception

  • Nancy Caster, 720-500-3785

 

You can also reach us at our main number: 303-755-8600. However we are currently experiencing some difficulties with Comcast transferring the main number out of their system to our new provider.

Checkout what you may be missing: Employment Practices and Privacy Liability Protection

Over the last several years two coverages have become commonplace, yet small business owners often overlook them.  We want to take this opportunity to recommend that you seriously consider adding Employment Practices Liability and Privacy Insurance to your business package.

Employment Practices  Liability will respond to a claim brought by one of your employees concerning how you have treated them in their employment.  Claims of sexually harassment, internal and by your customers, are covered as well as failure to hire promote or train based on any protected status.  We have seen these claims handled when one of our clients is accused of wrongdoing.  You may already have some amount of protect automatically included.  303-755-8600

Privacy insurance helps your business respond to a breach in your office security if non-public information of your customers or employees is released or stolen.  There are new federal laws that require specific responses to such an event.  This insurance covers many of these costs.

You might be surprised at how inexpensive these coverage can be added to your risk management package.  Contact us if you have questions or are curious what these policies might cost. 

Can one large insurance company move the Homeowners deductible in Colorado?

Can one large insurance company move the standard homeowners  deductible in Colorado?

We confirmed yesterday with a State Farm agent that they are forcing all of their policy holders onto a percentage deductible for wind hail.  New clients must accept a 1/2% deductible based on total home value.  for instance a $ 300,000 replacement cost home would carry a $ 1,500 deductible in the event the homeowner needed a new roof due to hail.   My understanding is that policyholders who are renewing may buy back, for additional premium, a flat deductible.  Are they big enough to move the market?

We represented a company last year that took this position.  Kemper insurance lost 50% of the policies they wrote in Colorado the year before.  Too many other companies were willing to take the business.  This question will be answered as time goes on…….how much homeowners business will State Farm Lose during this change?  Right now we represent 9 nationally known companies that are still competing for the market with deductibles as low as $ 250.00  for hail damage.  Often they are placing these policies for less than State Farm client now pay, even with the higher deductibles.  Call us if this is a topic that you wish to discuss.  You don’t need to swallow this hook line and sinker…. operators are standing by………303-755-8600

Highway crash fatalities in the US increased in 2012, ending a 6-year streak of declines

According to the NHTSA, crash fatalities in the US increased 5.3% to 34,080 in 2012, the rise coinciding with the Transportation Secretary Ray LaHood’s campaign against distracted driving. The fatality rate also increased from 1.1 to 1.16. According to the National Safety Council in 2012 US traffic deaths increased 5% to 36,200, the first rise over the past eight years.

“NSC is greatly concerned with the upswing in traffic fatalities on our nation’s roads,” said Janet Froetscher, president and CEO of the National Safety Council. “Although we have improved safety features in vehicles today, we also have new challenges, especially as it relates to teen and distracted driving, that need to be addressed on a national scale.”

CFA Reports that Largest Auto Insurers Charge Higher Premiums

The Consumer Federation of America (CFA), who are they?  This is directly from their website on who they are:  “The Consumer Federation of America (CFA) is an association of non-profit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education.”   All this information comes from the report that is linked to at the end of the blog.

This was a 12 City survey.  What it found is that the largest auto insurers have higher premiums for safe drivers.  They did not seem to have the higher rates with the people who were responsible for the accident.  In more than three-fifths of the cases, the premium to the safer driver was higher by 25% than the unsafe driver.  The survey also shows the very large range of pricing for policies.

“State insurance regulators should require auto insurers to explain why they believe factors such as education and income are better predictors of losses than are at-fault accidents,” said J. Robert Hunter, CFA’s Director of Insurance and former Texas Insurance Commissioner.  “Policymakers should ask why auto insurers are permitted to discriminate on the basis of nondriving-related factors such as occupation or education,” he added.

The CFA study priced policies in twelve cities.  They used the five largest insurance companies: State Farm, Allstate, Geico, Farmers and Progressive.  They asked for quotes on two 30-year-old women.  Both had been driving for 10 years.  They lived on the same street, same middle income zip code and both wanted the minimum liability coverage.  The only difference between the women was one was a single person who rents, has a high school degree, and has been without coverage for 45 days and never had an accident or violation.  The other was married, and an Executive with a Master’s degree owns a home and has had coverage for a period of time.  The Executive did have an at-fault accident with the damage being $800.

The rates ranged quite a bit, from 100% to 200% for similar products.  The range in the Denver area was from $538 to $1420.  That is a huge difference.  When you look at the report within each woman’s quotes, there is large difference in price.  It pays to shop for auto insurance that fits your budget and needs.

Consider looking to smaller local insurance companies to see if your rates can be managed better.

Link to Original CFA Article

Holiday parties are here: What’s your plan if employees drink too much?

For those of you who get busy around the holiday, here is a reminder of your risk and responsibility as you think about company celebrations.

Bad News: If you serve alcohol at your parties to a guest, you can be held accountable for accidents they cause when they leave! This is referred to as Host Liquor Liability. This could be an employee, a contractor or a guest of anyone who attends your celebration.

Good News: You probably have insurance coverage for this if you already buy General Liability Insurance for your business, it is included in the form if not excluded by endorsement, or you are actually in the business of selling or serving alcohol. (check with your agent to be sure, we do not interpret policy coverage for those who are not our clients).

You can also reduce the possibility of loss by paying attention to several common sense practices.

1. Offer ride’s home to anyone who drinks and chooses a ride. You can have staff available for this, or give taxi vouchers. Make this absolutely clear that it is “no fault”: No adverse action will occur if people use this service.

2. Have someone designated to observe the party and help other decide when they have had enough. Make sure anyone who is together as a group has a designated driver. A good choice for this would-be someone who has attended TIPS training for serving alcohol. You will be surprised at the number of people who have this training as a result of volunteer work in the past. Empower them to “cut off” someone who is visibly intoxicated.

3. Make sure you no one you serve is underage, this can create a clear liability.

4. Serve EANABS (equally attractive non-alcoholic beverages).

So enjoy your next gathering at the office, make sure everyone enjoys the show. Although insurance coverage may be available, the last thing, you want to think about is someone you don’t know being injured as a result of your party!

 

Dealing with aging parents is always tough, now State Auto Insurance can handle one of the details!

Your parents may have worked hard to build a nest egg. As they age you may be in a position to help them protect it as they rely upon you more and more. State Auto has a new coverage that helps with Assisted Living situations. If one of your family members is living in an Assisted Living environment, you can now provide coverage both for their possessions and potential Personal Liability.

In the past, you might have had to purchase a full renter’s insurance policy for them. Now you have a clear path to appropriate coverage that State Auto is offering by adding it to your own homeowner’s insurance policy. So their personal items are now covered easily. Plus you assure them of having the additional coverage of personal liability. So if your grandfather plays golf and hits a windshield causing an accident, his bank account is protected.

The coverage can be added to your homeowner policy, and it provides personal property, additional living expense, and personal liability coverage for a non-resident relative who is residing in an assisted care facility. One less item for you to handle in a difficult time, and it renews next year with no effort on your part! Once and done.

Denver Post: Rising threats, rising rates

The Sunday Denver Post had an article that is a must-read for people who have insurance in Colorado. Colorado is no longer the safe haven for insurance costs. We are now in the top 10 for catastrophic claims.

While this is no one’s fault, it does mean an impact on all of us in Colorado. This will definitely affect premiums in Colorado for all of us. Colorado premiums are already higher than the national average. This will make it even higher. The issue will be “people being priced out” of the market.

The link at the bottom will take you to the article. The point to the entire article is the reality that our insurance rates are going to go up. We all need to be prepared and look to our insurance agents to shop for us and find innovative ways to cut costs. Consider giving your agent a call today to see if there is a way to help defray some of the upcoming expenses.

Please see Rising threats, rising rates on Page 1A of Sunday, November 25, 2012 issue of The Denver Post

 

Nissan, Lockheed, Citibank, Exxon, now Allied Insurance and Nationwide Insurance Have All Been Hacked

It was bound to happen at some point. One of our Insurance companies was hacked; we are now in the company of Nissan, Lockheed, Citibank, Exxon. It appears to have been hacked on October 3. On that day, the companies did everything they needed to do to stop the intrusion. The next step is the notification of those accounts that have been compromised. As of this moment, no one has done anything with the information that was hacked.

We would encourage you to take the steps outlined below. The companies are offering free one-year credit-monitoring and identity theft protection as a precaution to those accounts that have been compromised. The companies are also offering additional resources to assist people on protecting their accounts and information.

Nationwide has established a toll-free number for assistance. Call 1-800-760-1125. Furthermore, check out this link at http://www.nationwide.com/notice.jsp

If you have received a letter, please follow the instructions. If you haven’t and want to double check, call the number listed above.
Please be assured that the companies have locked the system down and are implementing stronger security measures to avoid this kind of breach in the future.