Posted by Benji Riggins on February 6, 2012 under Safety | 
Disasters demonstrate the need for home and business owners to evaluate their risk of damage and take steps to reduce that risk ahead of time.
The record number of natural disasters in the U.S. this year demonstrates the need for home and business owners to evaluate their risk of damage and take steps to reduce that risk ahead of time, says the Insurance Institute for Business & Home Safety (IBHS).
The federal government has declared 86 major disasters so far in 2011, surpassing the previous annual record of 81 last year. “No matter where you are located, you are at risk for one or more natural hazards that could significantly damage or destroy your home or business,” said Julie Rochman, president & CEO, IBHS. “A complete evaluation of how best to protect your specific property starts with knowing and understanding the type(s) of risks that may affect your area.”
To that end, IBHS provides a free ZIP Code-based tool on their public website at www.disastersafety.org. When a property owner enters their ZIP Code, a list of natural hazards common to the area is shown.
Once a property owner has identified the risks they may face, the next step is to determine their home or commercial building’s specific vulnerability. Then, they can use IBHS guidance to learn how to reduce the risk of damage or destruction. “There are many strategies a home or business owner can employ to prevent or greatly lessen the risk of property damage due to a natural disaster,” Rochman said. “Some of these protections come at a cost, but many of them are low- or no-cost options that require nothing more than a bit of effort on the part of the property owner.”
For example, to reduce a property’s vulnerability to wildfire, firewood and other highly combustible materials should not be located close to a home or business. This no-cost solution involves moving firewood and leftover building materials, as well as items such as wheelbarrows containing these materials, at least 30 feet from any structure.
Another example is to inspect the exterior walls of your property for gaps around pipes where they enter the walls. Also check for any gaps around electrical outlet boxes, junction boxes, circuit breaker boxes, disconnect switches and electric meters. Seal any gaps found with waterproof caulk. This will help prevent wind-driven water, such as the heavy rains that often accompany hurricanes and thunderstorms – as well as winter sleet and snow – from entering your building.
“These are just two examples of many low- or no-cost ways to reduce the risk of disaster-related property damage,” Rochman said. “IBHS’ website – www.disastersafety.org – provides home and business owners with free, step-by-step instructions and information on dozens of projects that will help your protect property.”
To arrange an interview with IBHS, contact Joseph King at 813-675-1045/813-442-2845, jking@ibhs.org or via direct message on Twitter @jsalking.
Posted by Benji Riggins on January 20, 2012 under Flood |
If you don’t think your home is at risk for flooding, think again.
People outside of high-risk flood areas receive one-third of disaster assistance for flooding and file more than 20 percent of flood insurance claims, the National Flood Insurance Program says. Floods happen in all 50 states — not just hurricane-prone coastal areas — and are the most common natural disaster in the United States.
“Maybe if you lived on top of a mountain along the Continental Divide, maybe then you wouldn’t need flood insurance, but that’s about the only place you don’t need it,” says J. Fletcher Willey Jr., president of The Willey Agency in Nags Head, N.C.
Yet flood insurance is one of the most misunderstood types of insurance coverage. Here are eight facts to clear up some of the most common misconceptions about coverage through the National Flood Insurance Program:
1. No flood coverage under home insurance
Many people still assume standard renters and home insurance covers floods, says Larry Case, executive vice president of the Missouri Association of Insurance Agents. But you must purchase a separate flood insurance policy to protect your home and belongings from flood damage.
Most flood insurance is provided through the National Flood Insurance Program, administered by the Federal Emergency Management Agency. You can buy federal flood insurance from companies and agents certified to sell it if your community participates in the National Flood Insurance Program.
2. Flood insurance has caps
The amount of coverage you can buy through the NFIP is capped at $250,000 for a home’s structure and $100,000 for contents.
If you want more coverage, you have to buy excess flood insurance, which is sold by private insurance companies. The excess policy covers the cost of flood damage over and above the $250,000/$100,000 caps.
3. Coverage limited in basements
The distinctions can be tricky, so read the policy for details. Some structural elements in the basement are covered, such as central air conditioners, foundation walls, electrical outlets, furnaces and hot water heaters. However, carpeting and floor tile are not covered.
Some appliances in the basement are covered, such as washers and dryers, portable air conditioners and freezers. But refrigerators are not covered. Most personal belongings–including furniture, clothing and electronic equipment–are not covered when they’re in the basement.
4. Building and contents insurance required
A standard home insurance policy automatically covers personal belongings up to a certain percentage of the home’s insured value. With flood insurance, you must purchase contents coverage as well as building coverage to get both.
5. No additional living expenses provided
If your home is destroyed by fire, homeowner insurance pays for the cost to rent comparable living quarters until the house is rebuilt. But flood insurance does not include coverage for additional living expenses. You foot the bill to rent a place to live while your home is being repaired after a flood.
6. No replacement cost coverage for personal belongings
Unlike standard home insurance, which lets you purchase replacement cost coverage for personal belongings, flood insurance features only actual cash value coverage for possessions.
Replacement cost coverage reimburses you for the cost to buy a new item to replace a destroyed belonging. Actual cash value coverage takes depreciation into account and reimburses you for the value of the item at the time it was destroyed. So if a flood destroys your 3-year-old television, flood insurance reimburses you for the value of a used TV–not for the cost to buy a new one.
To qualify for replacement cost coverage to rebuild part of a destroyed building, the home must be your principal residence, and you must have insured it for at least 80 percent of the cost to rebuild or up to the $250,000 cap. Otherwise, reimbursement for rebuilding is based on the actual cash value.
7. Limited coverage on valuables
The coverage for valuables, such as furs and fine art, is limited to $2,500. Currency, precious metals and valuable papers, such as stock certificates, are not covered at all.
8. No flood coverage for hot tubs and swimming pools
Flood insurance doesn’t cover property and belongings outside the home. That includes hot tubs, swimming pools, decks, patios, fences, landscaping, walks, wells and septic systems.
Likewise, flood insurance pays for removal of debris in or on the home’s structure, but not in the yard, Willey says.
Finally, don’t wait until water is lapping at the front door to purchase a policy. Flood insurance has a 30-day waiting period from the date of purchase until the time it goes into effect. The only exceptions are if you’re buying additional insurance when renewing a policy or as a result of a map revision, or if a lender requires flood insurance for a home loan.
Read more: http://www.foxbusiness.com/personal-finance/2011/11/01/flood-insurance-misconceptions-8-facts-should-know/#ixzz1ckCWMw4n
By Barbara Marquand
Posted by Benji Riggins on January 12, 2012 under Insurance News |
One of North Carolina’s largest homeowners’ insurers says it is considering canceling the coverage of up to 70,000 homeowners unless the state Legislature makes changes allowing it to charge higher rates.
North Carolina Farm Bureau Executive Vice President Steve Carroll recently told state lawmakers that the insurer may have to cancel the policies in order to reduce its exposure and make its homeowners’ book of business profitable.
He said that the insurer needs more leeway to enact higher rates, especially given the rising cost of reinsurance, which he said is expected to double as a result of the losses incurred from Hurricane Irene and the spate of tornadoes that touched down in the state last spring.
Carroll estimated that 40 percent of the insurer’s premiums will go towards purchasing reinsurance next year.
“To continue to write property insurance the way we have in North Carolina, we have to have higher rates,” said Carroll.
The North Carolina Rating Bureau negotiates rates on behalf of the 621 property insurers in the state. The proposed rates are then approved, disapproved or modified by the insurance commissioner.
Speaking before a joint legislative Committee on Property Insurance Rate Making, Farm Bureau’s Carroll said the current regulatory structure is workable. However, he said, more emphasis needs to be placed on reinsurance costs and the use of computer models when developing loss estimates.
The Raleigh, North Carolina based-insurer is already making other underwriting changes that could leave an additional 28,000 homeowners scrambling for coverage elsewhere.
Effective January 1, the insurer is following the trend of other carriers to cancel homeowners if they insure their automobiles through another company. The insurer is also canceling homeowners who filed a claim within the last five years.
If the insurer follows through and drops the 70,000 homeowners in addition to the 28,000 policies it is already non-renewing, it would lose about 20 percent of its homeowners’ book of business.
According to the department of insurance, the North Carolina Farm Bureau is the third largest homeowners’ insurer in the state with a 13.9 percent market share.
By Michael Adams | December 29, 2011
Posted by Benji Riggins on January 9, 2012 under Insurance News |
Residents in North Carolina will see a rate decrease when it comes to their dwelling fire coverage while at the same time seeing no change in the cost of their dwelling extended coverage.
North Carolina Insurance Commissioner Wayne Goodwin has ordered a statewide average 7.3 percent reduction in the state’s dwelling and fire policies, which are offered to non-owner occupied residences including rental properties, investment properties, and places not occupied full-time by the property owner. A dwelling fire policy typically does not include liability coverage.
Goodwin also denied a request from the state North Carolina Rate Bureau, which sought a statewide average 36.1 percent increase in extended coverage. The extended coverage policies generally cover physical damage due to wind, hail, fire, smoke, riot, civil commotion, aircraft, and vehicle damage.
After holding several public hearings, Goodwin said he was comfortable with his decisions.
“I found that that the requested increase in extended coverage rates for properties is not warranted and I disapproved the request because it would have led to excessive and unfairly discriminatory rates,” Goodwin said. “Additionally, dwelling policyholders will have the benefit of decreased fire rates.”
By Michael Adams |
Posted by Benji Riggins on November 29, 2011 under Insurance News |
The 2011 Atlantic hurricane season officially ends Wednesday, having produced a total of 19 tropical storms of which seven became hurricanes, including three major hurricanes. This level of activity matched predictions by the National Oceanic and Atmospheric Administration (NOAA) and continues the trend of active hurricane seasons that began in 1995.
The 19 tropical storms represent the third-highest total (tied with 1887, 1995, and 2010) since records began in 1851 and is well above the average of 11. However, according to NOAA, the number of hurricanes and major hurricanes is only slightly above the average of six and two, respectively. This year’s totals include a post-storm upgrade of Tropical Storm Nate to hurricane status, and the addition of a short-lived, unnamed tropical storm that formed in early September between Bermuda and Nova Scotia. This unnamed storm, along with several other weak, short-lived named storms, could have gone undetected without modern satellite technology.
Irene was the lone hurricane to hit the United States in 2011, and the first one to do so since Ike struck southeast Texas in 2008. Irene was also the most significant tropical cyclone to strike the Northeast since Hurricane Bob in 1991.
“Irene broke the ‘hurricane amnesia’ that can develop when so much time lapses between landfalling storms,” said Jack Hayes, Ph.D., director of NOAA’s National Weather Service. “This season is a reminder that storms can hit any part of our coast and that all regions need to be prepared each and every season.”
As far as landfalling major hurricanes (Category 3, 4 or 5 with top winds of 111mph and greater) are concerned, the lull continues. 2011 marks a record six straight years without one hitting the United States. The last one to do so was Wilma in 2005. Nonetheless, wind is not the only threat with tropical systems as proven by Irene and Lee, which caused deadly and destructive flooding. On average, more than half of the fatalities related to tropical systems are due to flooding.
Hayes said Hurricane Irene is an example of increasing accuracy in forecasting storm track. Its landfall in eastern North Carolina and path northward were accurately predicted more than four days in advance by NOAA’s National Hurricane Center using information from weather satellites, hurricane models, aircraft observations, and other data. NOAA’s forecasts allowed emergency officials to plan necessary evacuations and sparked individuals to take safety precautions. But a weaker-than- at landfall also highlighted the challenges that remain in forecasting storm intensity, NOAA officials said.
“Improving intensity forecasts is a focus of ongoing research and is part of NOAA’s Hurricane Forecast Improvement Project,” said Frank Marks, Ph.D., director of NOAA’s Hurricane Research Division. HFIP bridges research and operational components to better anticipate rapid changes in storm intensity and its goal to extend track forecasts from the current five days to seven days.
“Although the 2011 hurricane season has ended, our need to prepare for disasters hasn’t,” said Craig Fugate, administrator of the Federal Emergency Management Agency. “Being prepared for all kinds of hazards, from hurricanes to blizzards to tornadoes, is a year-round activity. We encourage all members of the team, especially the public, to continue to prepare for emergencies by staying informed of forecasted weather events, making an emergency plan, and building your emergency preparedness kit. Visit Ready.gov to learn more.”
NOAA said it will issue its initial outlook for the 2012 hurricane season in May just prior to the official start of the season on June 1.
Posted by Benji Riggins on November 26, 2011 under Insurance News |
Some North Carolina residents who insure their residences through Allstate are finding themselves dropped by the company for refusing to bundle their home and auto coverage.
Allstate Insurance Co. has informed 45,000 homeowners that it will non-renew their homeowner’s policy unless they also purchase a commercial or private automobile insurance from the insurer by Dec. 15, 2011.
Allstate spokesperson Tracy Owens, speaking from the insurer’s Southeast Regional Office in Atlanta, said the decision came about after an intensive review of the insurer’s North Carolina book of business.
“We wanted to be sure that we could manage our risk both now and in the future and protect the other 400,000 households we insure,” Owens said.
According to documents filed with the North Carolina Department of Insurance, Allstate indicated that it would non-renew 30,400 standard homeowners policies, 10,500 landlord packaged policies, and 4,900 mobile homes policies.
Owens said that although Allstate has decided it must drop the policies, it is providing another coverage option from the Universal North America Insurance Co.
Allstate has reached an agreement with Universal whereby it will provide a quote for 26,150 of the affected homeowners. The Denver, Colo.-based Universal also is slated to submit a quote to 9,300 of the 10,500 landlords losing their Allstate coverage.
In a separate deal, the mobile home owners will have an opportunity to find coverage through the American Modern Insurance Group.
North Carolina Department of Insurance spokesperson Kerry Hall said that as a matter of professional courtesy Allstate informed the department of its decision to non-renew the policies, although the insurer had no legal requirement to do so.
“From our perspective, what Allstate is doing is legal as long as it gives consumers a 30-day notice before cancelling the policy,” said Hall.
By Michael Adams | November 22, 2011
Posted by Benji Riggins on November 23, 2011 under Safety |
Serafino Alfe was deep-frying turkeys for an annual fundraiser dinner recently and ended up at the Loyola Burn unit with third-degree burns – the worst – on his leg.
“I tripped and fell right into the deep fryer,” said the Mount Prospect (Illinois) resident. “Thirty quarts of hot oil poured over my leg and I basically fried myself.”
In the United States, more than 141 serious fires and hot-oil burns have been reported from the use of turkey fryers over the last decade, according to the U.S. Consumer Product Safety Commission.
Alfe said he has used a deep fryer for many years and is always careful. “We put the deep fryers on cardboard and I caught my shoe on the edge and just lost my balance,” said Alfe, who will undergo surgery on his injured leg on the day before Thanksgiving. “We were using the older fryers that do not have a secure lid and the gallons of hot oil just splattered out everywhere.”
Taking care to not become a victim of a fire and serious burns applies equally inside the home on Thanksgiving Day, the leading day for cooking fires, with three times as many as on an average day, according to the National Fire Protection Association.
“Cooking remain a major mechanism of injuries for adults, and for children who are underfoot,” said Richard L. Gamelli, MD, director, Burn & Shock Trauma Institute, and Provost of Health Sciences, Stritch School of Medicine, Loyola University Hospital.
Loyola’s Burn Center is one of the busiest in the Midwest, treating nearly 600 patients annually in the hospital and another 3,500 patients each year in its clinic. More than 40 percent of the burn cases are children.
“If a turkey fryer is used the way it’s supposed to be used by people who are not impaired by alcohol or drugs, I think they’re fine,” said Dr. Thomas Esposito, chief of the Division of Trauma, Surgical Critical Care and Burns in the Department of Surgery, Loyola University Chicago Stritch School of Medicine. “Injuries from turkey fryers are rare, but when they happen to you or a family member, that doesn’t matter – they are very devastating.”
He said $15 million in annual U.S. property damage is caused by deep fryer fires.
“It doesn’t matter if it is a turkey fryer or a conventional oven, you should always take great care when using appliances, vehicles and any other device that has the potential to cause great harm to yourself and others if used in a careless, irresponsible manner,” Esposito said.
Esposito offered safety tips for those planning to use a fryer:
•Look for the newer fryers with sealed lids to prevent oil spills.
•Keep the fryer in full view while the burner is on.
•Keep children and pets away from the cooking area.
•Place the fryer in an open area away from all walls, fences or other structures.
•Never use the fryer in, on, or under a garage, breezeway, carport, porch, deck or any other structure that can catch fire.
•Slowly raise and lower the turkey to reduce hot-oil splatter and to avoid burns.
•Never cook in short sleeves, shorts or bare feet. Cover all bare skin when dunking or removing bird.
•Protect your eyes with goggles or glasses.
•Immediately turn off the fryer if the oil begins to smoke.
•Make sure the turkey is completely thawed and be careful with marinades. Oil and water don’t mix and water can cause oil to spill over, creating a fire or even an explosion.
•Don’t overfill fryer with oil. Turkey fryers can ignite in seconds after oil hits the burner.
•Keep a fire extinguisher appropriate for oil fires close at hand and be familiar with how to operate it.
•Do not use a hose in an attempt to douse a turkey fryer fire.
•If you do burn yourself, or someone else is burned, seek immediate medical attention.
Source: Loyola University Health System
Tags: auto ins, car ins, cooking accid, home ins, homeowners ins, house ins, insurance agency, insurance agent, Safety, thanksgiving, thanksgiving day, turkey fryer
Posted by Benji Riggins on November 21, 2011 under Flood |
Congress has approved yet another resolution to fund parts of the federal government including the nation’s flood insurance program on a short-term basis. This time the funding runs until Dec. 16.
The Senate passed the short-term funding bill on Thursday evening after the House passed it in the afternoon.
President Obama is expected to sign the measure.
Had Congress not acted, authorization for the National Flood Insurance Program would have expired today, Nov. 18.
The insurance industry is pushing for both branches to pass a five year extension of NFIP along with reforms. Legislation to to do that has stalled. The House passed its version in July and the Senate Committee on Banking has passed a version. But the bill must still be considered by the full Senate. Then, once the Senate passes its legislation, the two branches will still have to agree on a final bill.
In 2010, the NFIP lapsed four times and flood coverage could not be purchased or renewed for a total of 53 days.
Tom Santos, vice president of federal affairs at the American Insurance Association (AIA), said what many in the insurance industry have expressed: relief that the NFIP will not lapse but disappointment that a long term extension has not been passed.
“We’re pleased the NFIP isn’t going to lapse. However, this will be the third short-term extension in as many months. More certainty is needed and as such, AIA encourages Congress to pass a long-term extension with meaningful reforms that aim to strengthen the program,” Santos said.
Posted by Benji Riggins on November 16, 2011 under Flood |
The nation’s flood insurance program is scheduled to expire again on Friday, Nov. 18, 2011, unless Congress takes action.
Last month, the House and Senate passed legislation that kept the federal government – and the National Flood Insurance Program – running until Nov. 18, 2011.
Since then, legislation to reform and extend the flood program for five years has stalled. The House passed its version of this legislation in July and the Senate Committee on Banking has passed a version. But the bill must still be considered by the full Senate.
Then, once the Senate passes its legislation, the two branches will still have to agree on a final bill.
The insurance industry is pushing for both branches to pass a five year extension with reforms; however another short-term funding extension for the government including the NFIP may be all that Congress will manage.
“The flood program is set to expire in less than 72 hours,” said Ben McKay, senior vice president of federal government relations for the Property Casualty Insurers Association of America (PCI). “While PCI continues to urge a long-term reauthorization for the NFIP, our first priority is avoiding a program lapse. We urge Congress to move expeditiously to avoid a lapse in the flood insurance program.”
In 2010, the NFIP lapsed four times and flood coverage could not be purchased or renewed for a total of 53 days.
The program has more than 5.6 million policyholders.
Posted by Benji Riggins on September 27, 2011 under Safety |
Bedbugs don’t make people sick. But the poisons used to kill them can.
A new government study has found that dozens of Americans have fallen ill from the insecticides, and a North Carolina woman died after using 18 cans of chemical fogger to attack the tiny blood suckers.
Because many of the cases, including the lone death, were do-it-yourselfers who misused the chemicals or applied the wrong product, federal health officials are warning consumers to be careful and urging them to call professionals.
The report by the Centers for Disease Control and Prevention counted 80 illnesses and one death linked to the insecticides over three years. Most of the cases were in New York City, the apparent epicenter of a recent U.S. bedbug comeback.
The CDC was able to get data from 12 states, and only seven had reports of such illnesses. One was New York, where bedbugs have become a highly publicized problem and where health officials have also been extra vigilant about reporting unusual chemical poisonings.
Investigators were relieved to find a relatively small number of cases.
“At this point, it’s not a major public health problem,” said Dr. Geoff Calvert, a CDC investigator who co-authored the study.
Bedbugs are wingless, reddish-brown insects that bite people and animals to draw blood for their meals. Though their bites can cause itching and welts, they are not known to spread disease.
“There’s nothing inherently dangerous about bedbugs,” said Dr. Susi Vassallo, an emergency medicine doctor who works at New York City’s Bellevue Hospital Center and occasionally treats patients who report bedbug problems.
But the insects are a major hassle. In recent national surveys of exterminators, bedbugs were named the toughest pest to get rid of. They can hide for months, only come out at night and can be hard to spot with the human eye.
They are also creepy, provoking intense fear in the minds of many people unnerved by the threat that an almost invisible insect could emerge at night to drink their blood.
“Sometimes people get hysterical,” said Theresa Braine, a New York City journalist who lived with bedbugs in her apartment for a year and now writes a weekly Internet column about the pests.
The CDC study was the first to look at the dangers of bedbug insecticides. Researchers reviewed reports from California, Florida, Michigan, North Carolina, New York, Texas and Washington.
They counted 111 cases from 2003 through 2010. Most occurred in the last few years, when bedbug reports rose across the country. More than half were in New York City.
People suffered headaches, dizziness, breathing problems and nausea and vomiting. More than 80 percent of the illnesses were considered mild.
The one death was a 65-year-old woman from Rocky Mount, N.C., who had a history of heart trouble and other ailments.
In 2010, she and her husband used nine cans of insecticide fogger one day, then the same amount two days later, without opening doors and windows to air out their home afterward. She also covered her body and hair with another bedbug product, and covered her hair with a plastic shower cap.
Two other illnesses were carpet cleaners who had not been told the apartment had recently been treated with pesticides. Two more were emergency medical technicians who responded to a scene and were exposed to a white powder believed to be a pesticide.
CDC officials said they could not be absolutely certain that the insecticides caused every problem. For example, there was no record of an autopsy on the North Carolina woman. It’s possible that some of the illnesses were coincidental to the insecticide exposure.
But it’s also likely these kinds of illnesses are under-reported, Calvert said.
About 90 percent of the cases were linked to pyrethroids or pyrethrins, insecticides commonly used against bedbugs. Such products are not a health risk to most people but should still be applied by a trained exterminator, said Vassallo, who is also a toxicologist and a clinical associate professor at NYU Langone Medical Center.
But in some cases, an improper and more dangerous product was used. That happened in 2010 in Ohio, where an uncertified exterminator used malathion to rid an apartment of bedbugs, even though the chemical is never supposed to be used indoors. A couple and their 6-year-old child got sick.
CDC officials suggested people trying to rid their homes of bedbugs should first thoroughly vacuum all floors and furniture and wash linens.
If it doesn’t work, call an exterminator to apply the chemicals, and then carefully follow their directions about re-entering the room and airing it out, they said.
Exterminators can be expensive. Braine said it cost her more than $1,000 for one treatment of her small Brooklyn apartment, which was only briefly successful. She has since moved to another place.
For products that are sold to the public, labeling could be a little better.
“We think it would be helpful if they were easier to read, understand, and better conveyed the message that the insecticide can be toxic and should be used with great care,” Calvert said.
A spokeswoman for the National Pest Management Association, a trade group, said the industry is continually looking at improving its labeling. But some people just don’t read labels.
For example, foggers are not recommended for bedbugs, she noted. And it appears some people use much more than is recommended.
“We live in a society where people believe that if a little bit is good, more is better,” said the spokeswoman, Missy Henriksen. But sometimes more is dangerous, she added.
CDC report: http://www.cdc.gov/mmwr
By Mike Stobbe | September 26, 2011
Tags: auto ins, bedbug, bug killer, car ins, home ins, homeowners ins, house ins, insecticide, insurance agency, insurance agent, pest control
