General Insurance

5 Common Property Owner Mishaps and How To Avoid Them

It is no secret that Property Owners have a lot on their plates. It’s a tough job to manage the many variables required to keep properties running smoothly.
Below is a list of areas that you can discuss with your clients that commonly result in problems for property managers…
• Documentation/Not keeping proper records – Keeping good records is an important way to avoid any issues in the future. Documenting interactions and resolutions with tenants, vendors and clients is the best way to minimize the consequences of litigation. As a general rule if it does not get documented it never happened.

A General Breakdown of the Terrorism Risk Insurance Act (aka TRIA)

It is often overlooked that the insurance industry paid out between $25 and $40 billion in losses following the attacks of 9-11 according to estimates.  In the aftermath of these attacks the unpredictability of terrorism resulted in reinsurers excluding coverage for acts of terrorism. The consequences threatened to potentially impact the economy by restricting both …

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September is National Preparedness Month!

Each September, the Federal Emergency Management Agency (FEMA) in the US Department of Homeland Security sponsors National Preparedness Month.  There are several different organizations that participate and encourage Americans to take action.  According to www.CDC.gov, one of the major goals of National Preparedness Month is to educate the public about how to prepare for emergencies, …

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A Basic Comparison of Risk Purchasing Groups Vs. Risk Retention Groups

Risk purchasing groups have been used in many areas of commerce, for insurance purposes they were authorized by the 1986 Federal Liability Risk Retention Act.  People often confuse Risk Purchasing Groups with Risk Retention Groups.  We will discuss the key differences and similarities between the two. What are the Differences? The key difference between risk …

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