Clarke & Sampson Blog

Rental Property Insurance - A Fire Dwelling Policy

Posted by Matt Stephens

Sep 15, 2015 11:00:00 AM

If you own rental or investment properties, you need to protect them from a host of potential perils, including fire, lightning, vandalism and theft. If your primary residence is located on the rental or investment property, a homeowners policy would cover you from many of the potential risks. But what if you live somewhere else? A dwelling fire policy may be the type of coverage you need to insure your rental or investment property from damages.

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Crime Insurance - Coverage in Action

Posted by Matt Stephens

Sep 11, 2015 11:56:00 AM

You may feel that your employees would never steal from you or that your business would never be the victim of theft, but the harsh reality is that nearly every business is eventually victimized by fraud or theft. In this day and age, thieves (including your employees) do not need direct access to cash to steal from you; merchandise, supplies and securities are all fair game. You may also be susceptible to losses in the event that finished products or even raw materials are stolen right from under your nose. Essentially, any product can be a target for thieves
if there is an opportunity to make a resale profit. 
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Hurricane Preparation - Checklist for Business Owners

Posted by Matt Stephens

Sep 9, 2015 2:44:54 PM

hurricane preparation for business owners

According to the American Red Cross, almost 40 percent of all small businesses affected by a major disaster, such as a tornado, flood, earthquake or hurricane, do not reopen their doors because they were unprepared for the disaster. Therefore, it is necessary for business owners and managers to consider the fact that a natural disaster is possible. Ask yourself these questions: How could I continue to conduct business if the city (or even just the streets near my building) are closed off? How could I serve my customers’ needs if my facility needed to close for several months? Could my business survive if it was closed down for several weeks or months?

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Hurricanes - Know the Terms

Posted by Trent Tuttle

Aug 12, 2015 2:34:22 PM

Hurricanes are capable of producing winds in excess of 155 miles per hour and have the power to cause 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.

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Preventing Distracted Driving - Safer Roadways and Lower Premiums

Posted by Trent Tuttle

Aug 4, 2015 4:46:00 PM

Distracted driving is a serious and deadly problem—approximately 3,000 people lose their lives every year due to distracted drivers. Drivers can become distracted for many reasons—because they are eating, talking to passengers or even listening to the radio at a high volume. However, the most prevalent way drivers become distracted is by using cellphones on the road.

 

 

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Property Protection: Ordinance And Law Coverage

Posted by Trent Tuttle

Jul 29, 2015 3:35:06 PM

Most insurance policies are written to allow a building owner to rebuild to the condition it was in prior to the loss. If an ordinance requires more, such as being brought up to code if it sustains more than 50 percent damage to the entire structure, an owner could be facing significant out-of-pocket expenses, which may range from slight modifications (installing hard-wired smoke detectors) to vastly more complicated and expensive modifications (installing fire sprinklers). To combat the cost of these projects, building owners can purchase Ordinance and Law Insurance. This protects an owner or association against losses resulting from the enforcement of new laws or ordinances, or changes to existing laws.

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Are Participant sports injuries covered under your current GL Policy?

Posted by Trent Tuttle

Jul 23, 2015 11:40:52 AM

 feature-productyouth

Risk managers and leaders of youth sports organizations are often confused or misinformed about the differences between General Liability (GL) and Accident Medical coverage. This misunderstanding could prove costly in the event of a sports related injury claim. Consider the following scenario:

A little league baseball team gathers to practice for the biggest game of the season, and they find the playing surface to be a little damp. Their volunteer coach determines the conditions to be playable, and practice goes on as scheduled. During batting practice, an outfielder slips and badly breaks her leg and ankle while shagging a fly ball. Medical expenses total $10,000 and on top of that the parents sue the league/coach for $100,000 claiming negligence… So, is your organization and its volunteers covered under this scenario?

General Liability Insurance will cover the sports team/league from any damages due to a lawsuit filed by a player or spectator who experienced bodily injury or property damage as a result of team/league negligence. Under this type of insurance the team or league will be provided with a defense attorney, and will also be covered from the costs of settlement or adverse jury verdict. Even those who are proven not negligent must pay their attorney’s fees, which can often reach upwards of $50,000.
Note: not all General Liability policies will cover the damages associated with participant injury. It is in your best interest to speak with an insurance professional about what is actually covered under your GL policy before purchasing.

Accident Medical Insurance will pay for the medical expenses of injured players or volunteers. The possibility of a lawsuit being filed by an injured participant is minimized if his or her medical fees are covered by this type of policy. Did you know that 10% of U.S. children have no form of medical insurance? This percent varies widely from state to state, with Florida and Texas having the highest rates of uninsured children. Although the amount of medically insured citizens has increased since the implementation of the Affordable Care Act it has given way to a new problem: rising health insurance costs. These higher cost mean more out-of-pocket expenses on mild injuries, which results in unpaid medical bills that may possibly bring a lawsuit.

Accident and General Liability Insurance will cover you from most issues that may arise, however you may want to consider Directors & Officers Liability, Crime, and/or Equipment Insurance. Failure to purchase any of these policies may lead way to lawsuits for managerial negligence.

At Clarke & Sampson, we recognize that insurance is not your day-to-day business. That’s why we encourage you to obtain a basic understanding of the differences between General Liability and Accident Medical Coverage. We have markets that include participant injuries under the GL limits at no additional cost to you.

For more information on how to manage risks/costs for your organization please call us at (703) 683-6601, or click the button below.

 

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Personal Umbrella Liability Coverage

Posted by Trent Tuttle

Jul 13, 2015 11:41:00 AM

umbrellaAs we all know, accidents happen—and it’s not uncommon for jury awards and out-of court settlements to run into the millions. While it’s difficult to pinpoint the monetary consequences of the risks you and your family take each day, are you certain your current liability insurance offers you enough protection?
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When the Storm Hits: During and After Safety

Posted by Trent Tuttle

Jul 6, 2015 10:24:18 AM

During Thunderstorms and Lightning

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Before the Storm Hits: Safety and Facts

Posted by Trent Tuttle

Jun 29, 2015 11:50:00 AM

Every thunderstorm produces lightning, which is extremely dangerous. Though lightning fatalities have decreased over the past 30 years, lightning continues to be one of the top three storm-related killers in the United States. In 2010, there were 29 fatalities and 182 injuries from lightning. Although most lightning victims survive, people struck by lightning often report a variety of long-term, debilitating symptoms.

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