Burke Bogart & Brownell Blog

10 reasons why business owners should carrier Employment Practices Liability.

2011-05-17T11:50:00.003-04:00

The definition of Employment Practices Liability Insurance (EPLI) provides your company with protection against many kinds of employee lawsuits, such as sexual harassment suits, discrimination suits, wrongful termination actions and breach of employment contract lawsuits.

The escalating frequency and severity of suits alleging employment related wrongful acts comes from a variety of factors, including employee's heightened awareness of their rights under the Myriad laws and regulations. In addition, there is a more aggressive and growing body of plaintiffs' lawyers specializing in employment law. Also, economic downturns and resulting job losses also spike liability suits.

Here are the top ten reason why a business owner should carrier EPL insurance;

Employment Practices Liability covers not only actual, but also alleged acts of discrimination, harassment, retaliation, wrongful termination and other similar acts

3 our of 5 employers are sued by former employees every year.

Over 40% of EPL claims are against firms with fewer than 100 employees.

Some Federal and State employment laws apply to all employers - any size company has exposure!

The Equal Employment Opportunity Commission (EEOC) recorded nearly 76,000 charges in 2006 and obtained more than $274 million in settlements for claimants.

The Financial ramifications of not having EPL insurance can be crippling, especially for small firms because they do not have the operating budgets to handle the defense costs, let alone the settlement or judgements, of an uninsured claim.

The medium cost of an EEOC lawsuit in 2006 exceeded $200,000.

There is no EPL coverage under other insurance policies such as General Liability (GL). Any endorsement to another policy general provides insufficient limits, does not provide the breadth of coverage of a separate EPL policy and erodes the limit available for the GL exposure.

Since 1997, wage and hour litigation's have tripled. More wage and hour collective / class actions have been filed in recent years than any other type of employment class actions combined.

Gender discrimination, age discrimination and retaliation claims are on the rise. There are more woman and "baby boomers" in the workplace than ever before. Recent Supreme Court decisions have lowered the standard of what constitutes retaliatory treatment.

For more information contact us at 1-800-332-9044 or email us at aholland@bbbins.com

Thank you ,

April Holland

Commercial Lines

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Benefits of being a member of the Florida Retail Federation

2011-05-17T11:22:00.005-04:00

Our partner, the Florida Retail Federation (FRF) provides valuable, money-saving services and benefits that can reduce your day-to-day business expenses. Additionally, FRF aggressively lobbies and advocates for your rights as business owners to lower your cost of doing business. FRF offers true money saving membership tools and benefits including;

Lower credit card and check processing fees

Up to 66% discount on shipping costs with nationally recognized transportation companies, including FedEx.

On staff Attorney who can provide individual members legal representation before state departments and agencies.

More Importantly, with your FRF membership, you'll gain the power of a large association advocating for your rights as a business owner. In fact, you can see the results every month on your financial statement. Here's some of the ways the Federation has already helped Florida business owners see bottom-line savings;

Reduced Work Comp premiums by more than 60% since October 2003

Reduce unemployment comp tax by $2 Billion in 2010

Lowered Utility rates by $2 Billion - a reduction of more than 75%

Avoided $100 Million in business litigation costs through tort reform legislation form 'Joint and Several' reform to 'Slip and Fall' reform.

When it comes to safety there's also strength in numbers - because RetailFirst is offering members of the FRF an exclusive workers' compensation safety program! Now, their policyholders have the opportunity to participate in a dividend plan designed to reward the employers who have made a commitment to safety and are dedicated to lowering their losses.

Through this safety group, you will be eligible to receive a bonus safety dividend based on group performance in addition to any individual dividend for which you may qualify. FRF offers tailored loss control services, including customized safety programs and online safety webinars to help you achieve long-term savings on your workers' compensation costs and to maximize your dividend potential.

FRF offers a guarantee on their membership costs. That means if your membership in the Federation does not save you at least the cost of your initial dues, then FRF will refund your dues.

For more details contact our office or visit their website at http://www.frf.org

Thank you,

April Holland
Commercial Lines
Account Manager

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Avoid Turkey Fryer Dangers

2010-11-10T10:41:00.014-05:00

With Thanksgiving fast approaching, thoughts turn to turkey, dressing, and pumpkin pie. Delicious deep-fried turkey, historically prevalent in the southern states, is growing in popularity around the country, thanks to celebrity chefs such as Emeril Lagasse. The only problem is that the turkey fryers used to create this succulent dish are unsafe and not certified by Underwriters Laboratory (UL).

Turkey fryers are devices, resembling a large commercial coffee pot, that are filled with oil heated to 350 degrees Fahrenheit. Turkeys are placed in this hot oil to fry the birds. The big problem, though, is that people often fill the fryers too full of oil, and it overflows when the bird is placed inside. This cascading oil hits the heating flames below, causing an instant fire. In addition, the turkey fryers are often quite unstable and easy to tip over. Lastly, many of these fryers lack adequate thermostat controls. Thus, the units have the potential to overheat the oil to the point of combustion. For these reasons, UL does not certify any turkey fryers with its trusted UL mark.

UL and other safety organizations strongly urge people to discard their existing turkey fryers. But for those people who insist on using their turkey fryers, UL offers the following tips:

Always use turkey fryers outdoors a safe distance from buildings and any other burnable materials.
Never use turkey fryers on wooden decks or in garages.
Make sure the fryers are used on a flat surface to reduce the chance of accidental tipping.
Never leave the fryer unattended since most units lack proper thermostat controls. If people do not watch the fryer carefully, the oil will continue to heat until it catches fire.
Never let children or pets near the fryer when in use. Even after use, never allow children or pets close to the turkey fryer. The oil inside the cooking pot can remain dangerously hot for hours after use.
To avoid oil spillover, do not overfill the fryer. Test it beforehand with water.
Use well-insulated potholders or oven mitts when touching pot or lid handles. If possible, wear safety goggles to protect eyes from oil splatter.
Keep an all-purpose fire extinguisher nearby.

Copyright 2010
International Risk Management Institute, Inc.

Purchase Proper Watercraft Coverage for Your New Boat

2010-03-18T11:52:00.002-04:00

Spring is often the time of year when boat lovers start to consider purchasing a sailboat or powerboat. Many people, however, are unaware of the significant loss exposures associated with boat ownership, and some people mistakenly believe that there is coverage available under their personal auto policy (PAP). Virtually all PAPs, though, do not provide any liability or physical damage coverage for boats. Other people may look to their homeowners policy for coverage. But most homeowners policies only cover losses arising from certain low-valued or low-powered boats. You should thus contact us before buying a boat to discuss the proper insurance protection for it. Consider the following tips to assist you in this process.
If you purchase a boat valued over $1,500, you probably lack proper coverage under your homeowners policy for physical damage losses to the boat itself. A separate watercraft or boatowners policy is necessary to cover the physical damage to boats over this value.
If you are considering the purchase of a sailboat, inquire about its length. If the length is 26 feet or more, there is no liability coverage under your homeowners policy. For motorboats, there are severe horsepower restrictions under the homeowners policy for liability coverage. For example, only insureds who own or lease boats with outboard motors of 25 horsepower or less have liability coverage under most homeowners policies. Yet most powerboats have motors with horsepower far exceeding this amount. This liability coverage restriction also necessitates the purchase of separate watercraft insurance.
Ask us about the types of boats you are considering. Some insurance companies, for example, decline to insure personal watercraft such as jet skis and wave runners, since some of these crafts can reach speeds of 60 mph. According to the U.S. Coast Guard, personal watercraft account for a disproportionately high number of accidents. Many insurance companies also refuse to cover houseboats, homemade or kit boats, competition bass boats, and speedboats. You may have to pay a steep premium through a specialty insurance company to insure these types of craft.
Be wary of purchasing older watercraft. Many insurance companies reject boats over 15 or 20 years of age because they experience a higher loss frequency than newer boats. You may have trouble finding insurance coverage for older boats or end up paying an extremely high premium.
If you do purchase an older boat, consider ordering a marine survey or inspection of it prior to the sale. Marine surveys point out deficiencies in watercraft that may cause you to reconsider the purchase or renegotiate its price.
If you don't already have one, procure a personal umbrella policy in addition to a watercraft policy, particularly if you purchase a speedboat, a boat designed for water skiing, or some other craft with a higher potential to cause damage or loss of life. Umbrella policies are relatively inexpensive, and since most forms do not have limitations with respect to watercraft, they will provide excess limits above the liability coverage in the watercraft policy. In addition, the watercraft liability limits should meet the underlying limits requirements of any applicable personal umbrella policy. Lastly, you should use the same insurance company that writes your homeowners and personal auto policies for your personal umbrella policy.
Get more personal lines insurance and risk management tips and ideas from IRMI.
Copyright 2010International Risk Management Institute, Inc.

Reduce Your Social Host Liquor Liability Exposure

2009-07-17T16:24:00.003-04:00

This Month's Tip
Reduce Your Social Host Liquor Liability Exposure

The National Highway Traffic Safety Administration (NHTSA) http://www.nhtsa.dot.gov/ estimates that nearly 13,000 people per year (about 35 per day) are killed in alcohol-impaired driving crashes.

Many of these tragic accidents happen after an inebriated person leaves a party -- an event in which the host of that party might be held liable for injuries and deaths to innocent parties. Although there might be coverage under your personal auto policy or homeowners policy if you (as the host) are held legally responsible for such a terrible accident, a wiser risk management strategy is to avoid or reduce the chance of loss altogether. With that in mind, here are some tips to consider if you (or a resident family member) occasionally host social events involving alcohol.

Surveys of youth indicate that the most common source of alcohol is the young person's own home. Thus, closely monitor social events your youth hosts to make sure there is no drinking allowed -- particularly any type of illegal underage drinking. It is wise to not allow your teenager to host a party when you are out of town.
Limit the amount of alcohol at your event.
If alcohol is served at your party, make sure that there is plenty of food. The consumption of food slows down the absorption of alcohol.
Encourage designated drivers and provide nonalcoholic drinks for these guests.
Look for signs of intoxication. An intoxicated person often has trouble walking, has slurred or loud speech, or is atypically uninhibited. There is not, however, a fool-proof method of determining whether someone is intoxicated because exceptionally tolerant individuals often do not show signs of tipsiness even though they are intoxicated.
Restrict alcohol to any near-intoxicated or intoxicated persons by offering instead some food or alternative nonalcoholic drinks.
Consider hiring trained bartenders. As they are trained to recognize and deal with intoxication, using professional bartenders can significantly reduce the risk and may help in defending a claim should there be one.
If you have a cash bar, use tickets and issue a limited number. Don't price alcohol too low because this encourages excessive drinking.
Do not allow the intoxicated guest to drive away from the event even if you have to take away his or her car keys. Instead, offer to drive them home or provide a free cab service. Soliciting the help of the guest's spouse or a close friend may help.
Get more personal lines insurance and risk management tips and ideas from IRMI.

Copyright 2009
International Risk Management Institute, Inc.

Are you personally Liable for your Blog posts and tweets?

2009-07-06T10:46:00.005-04:00

Interesting article from today's South Florida Sun-Sentinel regarding the liability risks of blogging and tweeting (Click on the Blog Headline to link to the article). Are you covered if you get sued because of something you or a family member posted. Personal Injury protection provides coverage- check your homeowners policy to make sure you are covered. You should also check your umbrella- also referred to an excess personal liability policy. Call Burke, Bogart and Brownell to review your coverages- (561) 392-8888.

Microwaving Water

2009-03-16T09:13:00.002-04:00

We received this blog from across the great internet. I am not sure where this originated, but it seems important enough to post.

A 26-year old man decided to have a cup of coffee. He took a cup of water and put it in the microwave to heat it up (something that he had done numerous times before). I am not sure how long he set the timer for, but he wanted to bring the water to a boil. When the timer shut the oven off, he removed the cup from the oven. As he looked into the cup, he noted that the water was not boiling, but suddenly the water in the cup 'blew up' into his face. The cup remained intact until he threw it out of his hand, but all the water had flown out into his face due to the build up of energy. His whole face is blistered and he has 1st and 2nd degree burns to his face which may leave scarring.

He also may have lost partial sight in his left eye. While at the hospital, the doctor who was attending to him stated that this is a fairly common occurrence and water (alone) should never be heated in a microwave oven If water is heated in this manner, something should be placed in the cup to diffuse the energy such as a wooden stir stick, tea bag, etc.., (nothing metal).

General Electric's Response:

Thanks for contacting us, I will be happy to assist you. The e-mail that you received is correct. Microwaved water and other liquids do not always bubble when they reach the boiling point. They can actually get superheated and not bubble at all. The superheated liquid will bubble up out of the cup when it is moved or when something like a spoon or tea bag is put into it.

To prevent this from happening and causing injury, do not heat any liquid for more than two minutes per cup. After heating, let the cup stand in the microwave for thirty seconds! before moving it or adding anything into it.

Here is what our local science teacher had to say on the matter: 'Thanks for the microwave warning. I have seen this happen before. It is caused by a phenomenon known as super heating. It can occur anytime water is heated and will particularly occur if the vessel that the water is heated in is new, or when heating a small amount of water (less than half a cup).

What happens is that the water heats faster than the vapor bubbles can form. If the cup is very new then it is unlikely to have small surface scratches inside it that provide a place for the bubbles to form. As the bubbles cannot form and release some of the heat has built up, the liquid does not boil, and the liquid continues to heat up well past its boiling point.

What then usually happens is that the liquid is bumped or jarred, which is just enough of a shock to cause the bubbles to rapidly form and expel the hot liquid. The rapid formation of bubbles is also why a carbonated beverage spews when opened after having been shaken.

Shop and Beware!

2009-02-12T13:18:00.002-05:00

Is your policy being dropped?...

If your policy is being non-renewed you may want to contact Burke Bogart & Brownell and speak with one of our agents. We represent a number of companies that can tailor coverage from a number of sources, including state-run Citizens Property Insurance Corporation (Citizens). And...we can often obtain other discounts available for your other exposures like auto, boat, or personal umbrella—thus lowering your total premium for all three.

Purchase Special Insurance for Your Home-Based Business

2009-01-19T09:48:00.004-05:00

The United States has experienced a rapid growth in home-based businesses in the last decade. The U.S. Census Bureau reports that there are now more than 11 million home-based businesses in the country, a figure that is expected to rise in the coming years.

But if you run a home business, losses associated with that business may not be covered under your homeowners policy unless special coverage endorsements are added. Some insurers sell an endorsement that covers losses associated with a home-based business. We can quickly find out if such an option is available.

What if you are operating a home-based business without your insurer's knowledge? Suppose you had a small fire that damaged your home office and computer and resulted in some lost income. Once your insurer sends an adjuster who, while investigating your claim, discovers your business, your insurer may deny some or all of the claim because of business-related exclusions and restrictions found in many homeowners policies.

Conversely, if you paid the additional premium to add a home-based business endorsement to your homeowners policy or you bought a businessowners policy (BOP), your loss would likely be covered—even the loss of income. (A BOP is a separate policy form designed to insure the property and liability exposures of small businesses.)

And do not forget about liability. If you have business visitors in your home and they get hurt, many insurers' homeowners policies will not cover those injuries because of the business-related loss exclusion found in the personal liability section of the policy. Again, it is necessary to purchase a special endorsement to the homeowners policy or a separate BOP. Also, if your activities give rise to any type of errors and omissions or professional liability exposures, they are not likely to be covered under either your homeowners policy or a BOP. A separate errors and omissions (E&O) policy will need to be arranged for this loss exposure.

Different insurance companies have different criteria for excluding business-related losses from their policies. If your current insurer cannot respond to your coverage needs, we can present several options to you.

But the important thing to remember is this: if you are running a business out of your home, call us. We will work hard to assure you are properly protected.

Get more personal lines insurance and risk management tips and ideas from IRMI.
http://www.irmi.com/Expert/Topics/PersonalLines/PersonalRiskManagement.aspx

Copyright 2009
International Risk Management Institute, Inc.
http://www.irmi.com/

Antique and Collector Vehicles

2008-12-29T08:47:00.001-05:00

Is your antique car properly insured? If you are a relatively new collector, you should be aware that this type of vehicle often requires specialized coverage, which we can help you obtain.

Remember that collectible cars, defined as those built 30 or more years ago, have unique insurance needs compared to traditional automobiles. As you know, regular use vehicles are on the road every day but antique or classic cars are typically used for limited pleasure driving, auto shows, and parades. In addition, while normal vehicles depreciate in value, antique or collectible vehicles often significantly increase in value over time.

The following are some issues to consider when procuring coverage for collectible cars.

* Vehicle Condition -- Many specialty insurance companies may want to insure only classic cars that are in mint condition; if your collectible has prior damage or shows extensive wear and tear, it may be difficult to purchase coverage. But most specialty insurers are willing to provide coverage (with increasing values) if you are actively renovating the vehicle.

* Vehicle Usage -- Most specialty insurance companies stipulate maximum mileage limits per year, such as 3000 or 5000 miles. Thus, it is important to verify the limits and keep track of the mileage on the vehicle.

* Vehicle Valuation -- Agreed-value policies are better than stated value policies. Agreed value policies guarantee that, in the event of a total loss, the insurance company will pay you the full amount listed on the policy, less any applicable deductible. Stated value policies, while rare, are often open to interpretation concerning the vehicle's value. You should also consider inflation guard coverage (automatically providing increasing limits every quarter or year) for your vehicle.

* Vehicle Storage -- Antique and collectible insurance companies normally require that these vehicles be stored in a fully enclosed, locked garage or storage facility when not in use. Failure to abide by this requirement could jeopardize coverage.
Finally, please call us concerning your collectible; we can assist in the arrangement of the best insurance at the best value for your car collection.

Copyright © 2008 International Risk Management Institute, Inc.

STEPS TO TAKE AFTER AN AUTO ACCIDENT

2008-12-23T09:30:00.000-05:00

While we certainly hope that you are never involved in an auto accident, we realize that they do happen. That's the reason we're in business; that's the reason you trusted us to find the right auto insurance for you. If you are ever involved in an accident, the following suggestions will help the claim process move ahead smoothly.

Please print this out and keep a copy in your glove box.

1. Make sure that everyone is unhurt -- in your car and any others involved. If anyone is injured, call 911 immediately. Even if you think your injuries are minor, it is probably a good idea to have them checked out -- either at the hospital or with your family doctor. A seemingly minor injury could turn out to be more serious.

2. Call the police. They can help defuse a difficult situation and also ascertain who is at fault. Make sure that police on the scene get the names, addresses, and phone numbers of all other involved parties. Ask for a copy of the police report from the officer.

3. If you happen to have a camera with you -- or a cell phone that is camera ready -- take some photos of the vehicles involved, the general area where the accident occurred, and skid marks.
4. If possible, safely move the cars out of the way of traffic.

5. Do not admit or discuss liability with anyone other than staff at our office or your insurer.

6. Get the following information about everyone involved in the accident: name, address, driver's license number, license plate number, description of car, e-mail address, all phone numbers (home, work, and cell), and auto insurance information. Also obtain contact information from any witnesses to the accident.

7. Report the accident immediately to our office. (561-392-8888).

8. While the details are still fresh in your mind, write your own account of the accident. Be sure to make note of anything the other involved parties said about their injuries or as to how they may have contributed to or avoided the accident.

Copyright © 2008 International Risk Management Institute, Inc.

Burglaries/Robberies

2008-12-15T09:53:00.001-05:00

Hi Friends, Clients and Partners,
The economic downturn has brought a new ration of home burglaries. You read about it every day in the paper, but usually only about the ones that are the most “headline” grabbing. This past two weeks, we have turned in claims on three very sizeable home burglaries. Seems the robbers are targeting jewelry and other easily accessible items in the home including digital accessories, TV’s, etc. In one case, the entire safe was stolen….picked up and carried out. The safe contained well over $10,000 in jewelry, coins, collectibles, etc. I won’t get into actual valuations but it was a highly valued collection of various items.
Here’s the situation in a nutshell: the economy stinks, it’s the holidays, people are desperate and we/you are easy targets at our most vulnerable time: the holidays. So here’s some ideas for you: vary your day to day routine related to work, etc. Don’t get “patterned” in to an easy target for a home burglary. Use your alarm…you would not believe how many people have a functioning alarm and don’t set it because of the dog or the kids, etc. Setting and using your alarm could save you a lot of hassle in the long run. Get a safe, a big one (BAS for those that understand Minnesota slang). Bolt it into the wall, into the framing, not just the sheetrock. Then put your valuables into it, duh! Oh, and if you have enough valuables, hook up your alarm to the safe also. Some people have put a GPS inside of their safe also, just in case. If you are leaving town, have someone watch your home; just drive by a couple of times a day. Leave a couple of lights on, or even a TV on. OK, your trying to save energy and I understand. Just take good precautions.
Last, but not least, get a schedule of the valuable items you own…(pick an amount…anything valued/appraised over $1000 or $2500 or $5000, what ever you feel your level of loss could withstand), then keep the schedule in a safe place…usually at the bank or with your insurance person or at work…just make sure it’s safe.
Get a good picture of your valuables. Take digital photos or use a camcorder for your records or for your insurance agent/company.
The Holidays are too busy, too much fun to be messing around with a home invasion or loss. Do what you need to do today to make sure you have a GREAT HOLIDAY!

Best Regards,

Burke Bogart & Brownell, Inc.

PS: If you are purchasing that special collectible (jewelry, etc) for a special person over the holidays, take the necessary precautions to make sure that nothing happens to that new item.

Delray Chamber Men's Group 3rd Annual Tailgate Party

2008-10-28T12:20:00.002-04:00

On October 22, 2008 Burke, Bogart & Brownell,Inc. was a proud sponser at the Delray Chamber Men's Group Third Annual Tailgate Party. The party raised donations for the Boys and Girls Club of Delray Beach. It was a fun-filled affair at City Limits in Delray, as we were joined by the Hammerheads Shark and "Elvis" to support this cause.

Burke, Bogart & Brownell, Inc. Volunteers for Habitat for Humanity

2008-10-17T09:21:00.005-04:00

On Saturday, September 27, 2008, employees of BB&B volunteered to assist Habitat for Humanity of Delray Beach build a home for a member of the Delray community. We painted, installed sprinklers, dug ditches, filled and leveled the yard. Though it was hard work, our mutual respect for the community and feeling of goodness was well worth the sweat and few blisters we went home with. This was BB&B's second time volunteering with Habitat within our community.

MAKE CERTAIN YOUR JEWELRY IS PROPERLY INSURED

2008-10-17T08:55:00.003-04:00

Many people overlook the need to properly insure their expensive jewelry, believing that it is automatically covered by their homeowners policy.
While homeowners policies do cover jewelry, this insurance usually is subject to a much lower limit than the overall contents coverage. This reduced limit is called a "sublimit," and a typical sublimit is $1,500 for loss by theft of jewelry, watches, and precious and semiprecious stones.
If your jewelry is worth more than the sublimit in your homeowners policy, you should consider purchasing specific insurance to cover it. The following is a good process to follow.
* Arrange an appointment with us to review your jewelry coverage. Bring as much information about your jewelry portfolio as possible, including any appraisals.
* If your high-valued jewelry has not been appraised within the last 3 years, consider obtaining an appraisal from a reputable jeweler. Insurance companies often require an appraisal on more expensive jewelry from a graduate of the Gemological Institute of America (GIA). The Institute's G.G., G.J., or A.J.P. designations at the end of an individual's name indicate that the jeweler has achieved a high level of professionalism with an education backed by a respected nonprofit organization.
* Make sure the appraisal has a description of the diamond's four C's --
(a) carat, (b) cut, (c) clarity, and (d) color. The "carat" refers to the weight of the diamond. The quality of the "cut" of the diamond results from the way light enters the stone and is reflected back. "Cut" is also used to refer to the diamond's shape, such as round or pear-shaped. The "clarity" refers to the prevalence of minor spots, lines, bubbles, or other natural imperfections within the diamond. The "color" denotes the tint a diamond may possess. Remember that the better the appraisal, the fewer problems you will encounter with the insurer if you ever have to make a claim.
* Purchase inland marine coverage that can be added via an endorsement onto your homeowners policy. This endorsement (also available as a separate policy) provides much broader coverage than the limited protection found on the unendorsed homeowners policy.
* Consider keeping any valuable jewelry you rarely wear in a safety deposit box at your bank.
* Review your jewelry protection with us at least every 2 years or whenever you sell or purchase high-value jewelry.

***Tips Created by***
Copyright © 2008 International Risk Management Institute, Inc.
IRMI is a registered trademark. Other company and product names contained in this newsletter are the trademarks of their respective holders.

State storm fund short, official says

2008-10-15T10:08:00.003-04:00

We are not sure how this will effect the insurance market but all Floridians should keep an eye on the Florida Hurricane Catastrophe Fund. The state's reinsurance fund has been hit hard by the recent Wall Street turmoil. The Palm Beach Post has an interesting article today- click here.

Going without Windstorm Coverage

2008-09-30T11:10:00.002-04:00

Yesterday's Sun-Sentinel had an interesting article about going bare on windstorm (hurricane) coverage. Here is the link click here. BBB is quoted twice in the article because of our expertise with homeowners insurance. We strongly advise against going completely bare- if you are concerned about your increased windstorm insurance, BBB advises that increasing your deductible can help save you substantially- this allows you to take on some of the risk and still have coverage for a catastrophic event (read Cat 5 hurricane going directly over your home). Insureds increasing their windstorm deductibles or going bare should ensure they have the financial means to cover repairs when needed. For more information please contact Burke, Bogart & Brownell at 561-392-8888 or e-mail Patrick McNamara at pmcnamara@bbbins.com.

Citizens Property Forum

2008-09-25T09:06:00.000-04:00

The Palm Beach County Citizens Property Insurance Forum will be held this evening from 4:00 pm to 7:00pm at the Crowne Plaza Hotel at 1601 Belvedere Road in West Palm Beach. This is a great opportunity for policyholders to have their concerns heard and get answers to questions. A number of Citizens representatives will be on hand for the discussion.

Tips to Defuse Those Electrical Fires

2008-09-22T15:42:00.003-04:00

Defective electrical wiring systems cause approximately 40,000 residential fires annually, according to a United States Consumer Product Safety Commission (CPSC) study. In addition, electric cords and plugs are involved in about 7,000 fires annually. The National Electrical Safety Foundation offers numerous tips to safeguard the home against electrical fire and related losses, including the following.
* Verify that outlets and extension cords are not overloaded.
* Examine electrical cords to ensure they are not frayed, damaged, or placed under rugs or carpets.
* Verify that the proper wattage bulbs are being used in light fixtures and lamps.
* Consider installing ground fault circuit interrupters (GFCI) in bathrooms, utility rooms, and kitchens. This device protects people against electrocution by shutting down the electrical system if it detects any imbalance in the electricity.
* Take steps to safeguard electrical appliances from power surges. A power surge is a sudden rise of current or voltage in an electrical circuit that can last up to several seconds and can ruin electrical appliances and equipment, such as computers. You can purchase surge protection devices to safeguard against the problem.
* Consider updating the entire electrical system if the home is over 40 years old. Older homes are more susceptible to electrical fire. For example, many older homes contain aluminum wiring, which is much more susceptible to starting fires than the copper wire required by modern building codes.
* Install child tamper-resistant electrical outlets to prevent a child from inserting something into the outlet holes.
* Install arc fault circuit interrupters (AFCI) to avoid fires caused by arc faults. An arc fault is a discharge of electric current across a gap.
This can be caused by improper electrical connections, pinched wire insulation, and overheated wires.
Note that many insurers offer discounts for some of these electrical safety improvements. Please call for details.

***Tips Created by***
Copyright © 2008 International Risk Management Institute, Inc.
IRMI is a registered trademark. Other company and product names contained in this newsletter are the trademarks of their respective holders.

Be Ware- Hurricane Ike

2008-09-04T11:53:00.004-04:00

By now, all of the southeast coast of the United States should be paying close attention to the tropics. While Tropical Storm Hanna bares watching, it is Ike that is the most concerning. AS a category 4 already, this storm has the potential to cause catastrophic damage. The National Hurricane Center's best guess at this point brings it close to the Southeast coast of Florida as of Tuesday morning. Its just a question of whether it turns before reaching Florida. If this happens- the rest of the east coast (Georgia, South and North Carolina) could be in the path. Burke, Bogart & Brownell urges everyone to take this storm seriously.

Fay's Floods Hit Uninsured Hard

2008-08-26T11:54:00.002-04:00

If we said it once we've said it 1,000 times- flood insurance in Florida is vital to protecting your home. This article in today's Palm Beach Post perfectly illustrates the dangers of trying to save at the risk of your home and personal property. All of Florida is in a flood zone- its just the degree to which you are in one that is different. Even if your mortgage does not require flood insurance it is wise to purchase a policy. The premiums are very affordable ($348 for $250,000 in coverage). Call BBB today at 561-392-8888 to see how we can help you.

There's Another One Out There!

2008-08-25T11:41:00.003-04:00

Just when Florida was drying out from Tropical Storm Fay along comes Tropical Depression #7 which is expected to turn in to Tropical Storm Gustav. South Florida is currently in the cone of uncertanty. Burke, Bogart & Brownell recommend binding any insurance policies as soon as possible. Many insurance companies stop issuing policies long before the storm comes close to the area. Here is a link to the National Hurricane Center so you can track the storm.

Deductibles for Damage from Fay

2008-08-22T11:31:00.002-04:00

Because Tropical Storm Fay never reached hurricane status, the applicable deductible for damage will be the All other Perils deductible instead of the generally much higher hurricane deductible. Julie Patel explains it well here, in today's Sun-Sentinel.

The more pressing concern for homeowners is whether they have flood insurance. Flood damage is not covered by homeowners policies. A separate, flood insurance policy is needed to insure against this damage. Fay is a perfect example of why everyone in Florida should purchase a flood insurance policy. Flood insurance is relatively inexpensive, but there is a 30 day waiting period before flood insurance is effective. To purchase a flood insurance policy call Burke, Bogart & Brownell at 561-392-8888.

Florida Health Insurance Plan

2008-08-19T12:56:00.002-04:00

The state of Florida, led by Governor Charlie Crist, is working on a plan to ensure all Floridians have some type of health insurance. While in its infancy, these plans are at least opening the discussion for the problem of health insurance for all. Here is today's article from the Palm Beach Post.

Binding Restrictions

2008-08-19T11:17:00.002-04:00

As many of you know, insurance companies will not bind (issue) new homeowners or commercial property policies when there is a Tropical Storm Watch or Warning or Hurricane Watch or Warning. This article from today's Sun-Sentinel discusses this issue and a bit of the effect on real estate transactions. BBB always suggests getting your insurance in place at least 1 week prior to the closing date. This allows you to avoid the problems that can arise from a watch or warning. Once the storm passes, insurance companies begin to open up at different times. BBB already has one company open for business (Universal Property and Casualty) as normal, while other companies may stay closed until the storm completely exits the state.

Tropical Storm Fay Forms

2008-08-15T16:43:00.003-04:00

The National Hurricane Center announced the formation of the seasons 6th named storm- Tropical Storm Fay. South Floridians need to pay special attention to the path of the storm and should begin preparing. Keep checking the National Hurricane Center's website for additional information.

Flood Insurance

2008-08-15T10:16:00.003-04:00

Above Picture- Flooding from Hurricane Floyd- 1999

As hurricane season becomes busier it is important to remember that flood insurance is not covered by your homeowners policy. Here is an article from the National Hurricane Center which outlines some issues with hurricanes and inland flooding. Most people understand the dangers of the storm surge but inland flooding accounts for 59% of the hurricane deaths related to flooding. To that end, it is imperative that homeowners and business owners are covered for flooding. Please be aware that all of Florida is in a flood zone- just because you are not in the most dangerous flood zone ("A" or "V" zones) does not mean you do not need flood insurance. Because flood insurance is subsidized by the Federal Government's flood program, flood insurance is incredibly reasonable. Example: $250,000 coverage for the home and $100,000 for personal property only costs $348.00. Contact Burke, Bogart and Brownell at 561-392-8888 or pmcnamara@bbbins.com to purchase flood insurance.

Keeping an Eye on the Tropics

2008-08-15T09:18:00.003-04:00

This is the latest image from the National Hurricane Center. It is forecasting that the closest system will turn to the north when it reaches the Bahamas- although, this is a possibility also- If it fails to make that turn, this region could have a tropical storm or a hurricane at its doorstep by Monday or Tuesday, as forecasters expect the system to move into an area of low wind shear and continue intensifying. The next tropical storm will be named Fay. Click here for updates from the National Hurricane Center.

Health Insurance Options for Laid Off Workers

2008-08-14T16:07:00.003-04:00

In these tough economic times more and more people are being laid off. While most people's focus is on finding another job and meeting the bottom line of their families needs, it is important for everyone to remember their health insurance. Explore the various options and make sure you understand your COBRA options. Because of the underwriting restrictions many insurance company's have in place- going without insurance can cause you to be un-insurable. This is a great article from today's Sun-Sentinel which outlines your various options.

"We are definitely not off the hook with this system."

2008-08-14T10:18:00.003-04:00

The above are the words of Jack Beven of the National Hurricane Center with regard to the Tropical System out in the Atlantic passing near the northern Leeward Islands, or about 1,100 miles southeast of Miami. While I don't want to panic anyone- Everyone should pay close attention to the development of the system and be ready to act if needed. We are in the time of year when we need to pay close attention to the Tropics. Here is the article from today's Sun-Sentinel. This link to the National Hurricane Center is a great way to track all the activity in the tropics.

State Farm Rate Increase Hearing

2008-08-13T09:03:00.003-04:00

State Farm went in front of the Office of Insurance Regulation (OIR) yesterday to justify it's request for an average statewide increase of 47%. In some areas of South Florida, the increase would be as high as 112%. It will be interesting to see how this shakes out. There is absolutely no way the OIR will approve the requested 47% increase. Governor Crist said as much- from today's Sun-Sentinel- "said Tuesday that he thinks regulators will "handle this case appropriately, and I think you know what I mean by that — rejecting it."" Best guess is a negotiated 10 to 15% increase. Here is Julie Patel's full story from Today's Sun-Sentinel.

New Citizens Requirement

2008-08-05T15:31:00.002-04:00

Homes with an insured value of $750,000 and over will be required to have hurricane shutters beginning January 1, 2009 for new policies and July 1, 2009 for existing policies. Below is some information from an Agent's Bulletin from Citizens with more specific information. Existing Citizens Policyholders will be contacted shortly by Citizens and informed. All Citizens policyholders should contact their agent for more information.

Citizens Bulletin Information
Effective January 1, 2009, personal residential structures (written on HO-3, DP-1 or DP-3 forms) located in the “wind-borne debris region” (WBDR) with an insured value of $750,000 or more will not be eligible for coverage with Citizens unless the structure has opening protections (such as storm shutters) that comply with Florida Building Code requirements.

New policies with an effective date beginning January 1, 2009, must meet the new opening protection requirements.
Current policyholders whose policies will expire beginning on July 1, 2009 will be nonrenewed by Citizens until acceptable proof of opening protection compliance is provided.

State Rejects Farm Bureaur's Rate Hike Request

2008-08-05T15:12:00.002-04:00

The Florida State Office of Insurance Regulation continues to play hard ball with insurance company rate increase requests. Breaking news today--- State to reject Farm Bureau's 24.9 percent insurance rate hike (source: Palm Beach Post)

Citizens Windstorm Customers to re-apply

2008-08-05T15:07:00.000-04:00

Citizens is forcing 350,000 windstorm customers to re-apply for coverage. If you currently have your windstorm coverage through Citizens you will receive a notice from Citizens that your policy will have to be re-issued upon renewal. This means you will have to complete new applications and have the replacement cost on your home verified. Periodically confirming you are properly covered in the event of a total loss is a good idea anyway. This is also a good time to review your coverage’s and see if you can find coverage with another carrier. Citizens should always be the last resort. Here is the article from today’s Palm Beach Post.

Tropical Storm Edouard Update

2008-08-04T14:51:00.003-04:00

As a South Florida (Boca Raton) insurance agency, we continually monitor the Tropical weather. As of today we have our 5th named system. Edouard has taken aim at the coast of Texas. While we have dodged the bullet to this point, it is wise of Floridians to keep on eye on the tropics and all times. Now is a great time to review your hurricane plans and make sure you have all the necessities. Beat the crowds and stock up on essentials now! It is also a great time to make sure all your insurance needs are in place and you know where your policies are. Click here- The National Hurricane Center- to track this and other storms.

Lower Premiums

2008-08-04T14:45:00.002-04:00

Today's Miami Herald had an interesting article about the advent of the new, Florida based insurance companies. This is good reading for everyone. It will help you understand the types of companies that are issuing policies in Florida currently. Burke, Bogart & Brownell represents a number of these fine carriers and would glad to consult with you on the best fit for your insurance dollar. Call out office today at 561-392-8888 and speak to an agent today.

Federal Disaster Fund Bill

2008-07-30T09:20:00.002-04:00

U.S. Reps. Ron Klein, D-Boca Raton, and Tim Mahoney, D-Palm Beach Gardens are introducing a new bill that would create a Federal Disaster Fund which would cap the amount of claims insurance companies would have to pay to pay in in the event of a large catastrophe (read hurricane). It doesn't look like the political will is there to get this done but at least they are talking. Here is the article from today's Palm Beach Post- Federal disaster fund advancing, congressmen say

State Farm Rate Hike Request

2008-07-17T11:43:00.002-04:00

Interesting stories in all the major publications and news outlets today. State Farm has asked (remember this is not approved) for a major rate hike to be effective March 1, 2009. This will be an interesting battle between the Florida Office of Insurance Regulation and State Farm. Stay tuned! Here is a link to the front page story in the Sun-Sentinel- State Farm Rate Hike

Citizens Assessments

2008-07-17T11:38:00.003-04:00

Most consumers do not realize that Citizens will now assess it's policyholders first in the case of a shortfall. Currently all Florida insurance policyholders are paying assessments to cover the 2004 and 2005 hurricane losses. Citizens policyholders will be the first to be assessed for any furture needs and the assessment can be as much as 45% of their premium.

Burke, Bogart & Brownell urges Citizens policyholders to explore other options whenever possible.

Here is a link to some facts about new legislation that was put into law in May and may effect you.

Citizens

2008-07-17T11:32:00.002-04:00

Interesting cover story in Business Monday in the Miami Herald. A number of issues were raised including:
Citizens' ability to pay claims when a major hurricane strikes anywhere in Florida
Policy changes with Citizens requiring wind only policies to be cancelled and re-written in January- All wind only policyholders will be receiving notices beginning in August
The amount of work that agencies must do for Citizens and the commissions they receive.

Please take a look at the Business Monday articles and let us know what you think.

MySafeFloridaHome.com

2008-07-09T09:58:00.005-04:00

This article in today's Palm Beach Post says there are still 10,000 free wind mitigation inspections available through MySafeFloridaHome. Wind mitigation inspections for homes built prior to 2002 are the most important tool in lowering your premium- particularly if you have had a new roof installed that is up to the 2001 Florida Building Codes. BBB encourages everyone to get a wind mitigation inspection even if you do not get one through MySafeFloridaHome- generally they run $150 and we would be happy to refer you to an inspector. Also, Coral Insurance, which BBB represents, provides a free wind mitigation for homes built prior to 1992. For a free quote with one of the companies BBB represents, please call us at 561-392-8888.

2008-07-09T09:58:00.001-04:00

Welcome

2008-07-09T09:55:00.002-04:00

Welcome to the Burke, Bogart & Brownell blog. Here you will find information about insurance issues in Florida. With 35 years in insurance in South Florida, BBB offers an array of advice on commercial and personal insurance. Please provide feedback and questions anytime.