Shopping Around - Is It Worth It?

Towards the end of the year it seems like I get a wave of panic from clients and potential clients.  As many insured's renew around the first of the year, they all are wondering if they are getting the best deal or if there's anything else they should be looking at.  If I owned my own business, I would be doing the same thing.  I would want to know I was getting the best deal with the best coverage.  And, if you have an ethical broker, they should be marketing your renewal out annually.

Gene Simmons Insured His TONGUE?!

Some celebrities have some amazing "assets" and have specifically decided to insure certain body parts.  Being in the insurance industry for quite some time, I have heard the rumors of J Lo's bum being insured and Mariah Carey's legs, as well.  But were those rumors really true???  Turns out, they are.  And many times it's a sponsor or advertising partner that has put up the cash for these crazy policies.  Here are some of my favorites from the outrageous list.


$317,000 Mustache, MERV HUGHES, Cricket Player

So What Do You Think This Will Cost Me?

I've been flooded with a slue of submissions lately and some companies are start-ups or fairly new in business.  After my initial meeting with the insured and getting to know their company a bit, the ultimate question is posed: "So what do you think this will cost me?".  If only I had a magic wand!  I would wave that wand and poof, an accurate number would appear.

9/11 is My Generation's Pearl Harbor

Yesterday marked the 10 year anniversary of 9/11.  Pictures, memories and stories came flooding back as I remembered exactly what I was doing, exactly where I was, the morning these unfortunate events happened.  Everyone has their story.  But for me, I was sleeping in my college dorm.  I was in the midst of my collegiate soccer days and our team was scheduled to fly to play an opponent the following day.

Thanks but No Thanks

One of the difficult parts of my job is learning when to say no to a client.  It's in my nature to want to help everyone and if I can't help them, point them in the direction where they are able to get help.  But the other day, I had a law firm call on me and they were interested in receiving a quote for their professional liability.  I started asking the usual questions: how many lawyers, any claims I need to be aware of, how much does the firm gross, etc.  Then the firm let me know that they have two other brokers looking at their renewal. 

Top 10 Most Stolen Vehicles in U.S.

According to the The National Insurance Crime Bureau, Honda's were busy in 2010...busy being jacked!  As reported in the Insurance Journal, "The National Insurance Crime Bureau examined vehicle theft data submitted by law enforcement to the National Crime Information Center (NCIC) and determined the vehicle make, model, and model year most reported stolen in 2010."

What is the Difference Between a Deductible and a SIR?

Many people that have liability insurance for their business may not even know the difference between a deductible or self insured retention.   For the most part, they serve the same purpose.  They can offer a cost savings to an insured who anticipates small and infrequent losses, and they can reduce an insurer’s reluctance to write an account with a loss frequency problem.

Why am I Paying State Taxes & Fees for my Insurance Policy?

When I am working on placing insurance on behalf of a business, I first assess which "markets" will be the best place for this risk. There are two types of insurance markets: Admitted Insurance Carriers and Non-admitted Insurance Carriers (otherwise known as Excess & Surplus lines carriers). I've done a brief outline of the two sides below.

Your Online Reputation and How to Protect It

As a business owner or an employee of any company, I think we have all come in contact with a disgruntled employee of some sorts.  I know in my insurance career, I've definitely been around and experienced at least a handful of employees that truly felt like they were either not being treated fairly or that they were not valued enough.  Even if the accusations are false, the perception of the employee is all that matters.  

Who is wearing a Tiger Shark Costume to Work? This TEAM!

Today starts a sales competition here at Bozzuto.  All the producers and account managers are split up into three teams.  As you can see from the picture below, my team is serious about spirit and WINNING. 

 

Here at Bozzuto we're sincere about customer service and building a long lasting relationship with our clients.  And that is why our Tiger Shark team is looking for any insurance referrals.  Help our Tiger Shark team win!  If you refer three or more referrals to our team, we'll thank you by sending you a generous gift card.   Feel free to email us with any referrals at joileneh@dbinsurance.com! 

GO TIGER SHARKS!!!

How are Vacancy Insurance Issues Affecting the Real Estate Market?

In previous real estate years, we really never had to worry about vacancy issues, especially in Silicon Valley.  Everyone wanted to work here and therefore, move here.  Businesses, families, recent grads, start-up enthusiasts and Southern California transplants were itching to get their own piece of the Silicon Valley success pie. Now, whether you're buying and selling or buying and holding real estate for your own portfolio or the portfolio of the company you work for, vacancy issues scattered amongst the real estate world is creating quite an insurance nightmare for some property owners. 

Hire a Lawyer. Then Sue Your Lawyer....

Refreshed, relaxed and picking up a slight Chicago accent from a week long vacation, I came back to work with a few potential clients interested in lawyers E&O.  Somewhat organically, recently I've been gaining traction in the errors and omissions insurance arena with law firms.  I've worked with many different types of law firms to date: insurance law, construction defect, personal injury, labor employment, etc.  The list could go on and on.  As many different types of law as there are, there is one disturbing trend that is rising: malpractice or professional liability claims filed against law firms in 2011.