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Important Definitions for Employers

Posted on February 6th, 2013 by admin

WORKERS COMPENSATION BENEFITS income, medical, rehabilitation, death, and survivor payments to workers injured on the job.  State workers compensation laws, which date from early in the twentieth century. Provide that employers take responsibility for on the-job injuries.  Each state defines the benefit level for employers in that state.  Although these benefits were designated to be the final obligation of an employer to his employees, there have been considerable erosions of this concept since the early 1970s; workers have been allowed by the courts to sue employers for various on-the-job injuries in addition to workers compensation benefits.  Because workers compensation benefits…Read More

Where compassion meets action

Posted on January 31st, 2013 by admin

In 2005, Maureen Bommer of Midland Park was fighting the insurance system for her daughter Julia, who suffered from Cerebral Palsy and a rare kidney disorder. Medicaid had cut Julia’s in-home nursing hours by 30%, and Maureen was unable to get help from other sources to pay for the services. The gap would surely be a drain on the family finances. In that moment, Maureen realized there were other families facing the same tough situations, and never one to run from a fight, she vowed to take up their collective cause. Shortly after that battle began, Julia took a turn…Read More

Are you a good driver or a despicable one?

Posted on January 28th, 2013 by admin

Patrick Harvey from the Progressive Insurance Company visited the Insurance Center’s office in Hackensack today to discuss Progressive’s Snapshot insurance discount program.  Snapshot offer a maximum  auto insurance premium reduction of 30%.  Mr. Harvey then challenged the personal insurance staff to try  Progressive’s Snapshot to see if they’d reduce their auto insurance costs.  Snapshot is small mile-based gadget that not only tracks how many miles your drive but how you are driving!  The device plugs easily into your car’s diagnostic port .   Our agents are plugging this device into their OEM on their personal cars – all at the same time.  Every…Read More

Complex exposures created by leases

Posted on December 27th, 2012 by admin

(By Dan Corbin, CPCU, CIC, LUTC) When the new simplified Commercial General Liability (CGL) policy was introduced in 1986, it was expected to help solve some coverage problems. While the jury is still out as to whether all the coverage problems have been solved, there is one issue that can be settled. The so-called simplified CGL policy is anything but simple! The CGL policy is one of the more complex policies sold by producers. The fact that it must be adapted to a wide range of business enterprises and exposures is a contributing factor to its inherent complexity. Contractual liability Liability assumed…Read More

Water backup from off-premises drains and pipes

Posted on September 11th, 2012 by admin

What is the difference in coverage if water backs up through a drain or sewer due to heavy rainfall, such as a hurricane, and water that backs up due to a break in the town’s water system infrastructure (pipes)? The difference is night and day, or no coverage vs. coverage. The Section I-A.3 Water excluslon in the ISO Homeowners Policy (HO 00 03) applies to the following types of water: Flood, surface water, waves, including tidal wave and tsunami, tides, tidal water, overflow of any body of water or spray from any of these, all whether or not driven by…Read More

Replacement-cost coverage: A wise investment

Posted on August 27th, 2012 by admin

I just bought a home and would like to insure it against damage or destruction. How can I be sure I will financially able to repair or rebuild in the event of a catastrophe, such as a fire? Insurers generally recommend you to insure your home for full replacement cost, which means it is insured under a homeowner’s policy for 100 percent of the cost of repairing or rebuilding it at the time this becomes necessary. If you purchase a guaranteed replacement-cost endorsement, you would receive the full amount you need to rebuild, regardless of inflatation. Most insurers require you…Read More

Additional liability coverage is important

Posted on August 21st, 2012 by admin

Would I be covered under my homeowner’s policy if I am sued by someone who was seriously injured on my property? Your homeowner’s policy will protect you, but only up to the liability limits of your policy and what the injury involved.  In today’s lawsuit-oriented society, your homeowners policy may not provide adequate liability coverage in the event that you are involved in a significant lawsuit. What about my automobile policy? Similarly, your automobile policy provides coverage in the event of a vehicle-related lawsuit, up to the limits of the policy. What would happen if I was held liable for…Read More

PIANJ elects board of directors

Posted on July 6th, 2012 by admin

PROFESSIONAL INSURANCE AGENTS New Jersey- PIANJ- Has elected insurance producers from around the state to it’s board of directors. These individuals will be serving a 3 year terms, expiring in 2015. We are proud to announce our president, Steven Radespiel, is among the seven elected!

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