If your clients employ residential staff (gardeners, housekeepers or nannies, for example), they should be aware that allegations of “wrongful employment acts” make it into headlines and U.S. courts every year. Even if the allegations are false, the defense costs alone could cost you a small fortune. And imagine how such allegations could damage your reputation if they were made public.As is normally the case, for every risk there is an insurance solution. While using insurance to solve all risks is not a good idea, using it for risks that can pose a large financial loss often is a good strategy. Click here to learn more about one carrier’s solution for this common risk.
Archive for February, 2008
Posted in Liability Risks and Solutions, tagged domestic staff, employment law, employment practices, examples of wrongful employment acts, lawsuit, legal exposure, personal risk management, protect yourself as a domestic employer on February 26, 2008 | Leave a Comment »
Before making an art purchase, make sure it is not among the reported $6 billion in stolen works that are on the market each year. Says a leading art attorney: “You can save yourself a lot of aggravation and money by doing your homework first.” Click this link http://sev.prnewswire.com/insurance/20080220/NYW05920022008-1.html for more information on an innovative new service provided by a leading insurance carrier.
Posted in Property Risks and Solutions, tagged assess flood risk, FEMA, flood coverage solutions, flood damage, flood losses, flood risk, flood smart, government, home insurance, homeowners, low risk flood zone, nature, personal risk management, weather on February 16, 2008 | Leave a Comment »
Losses caused by floods are much more common than most people believe. While most in the U.S. reside in a “low risk” flood zone, one third of flood losses last year happened to families living in low risk flood zones.Protecting your home from losses caused by most causes of rising water is inexpensive and smart. This FEMA website enables homeowners to find your relative flood risk today, online, in less than 30 seconds. http://www.floodsmart.gov/floodsmart/pages/riskassesment/findpropertyform.jsp
Contact me for information on a variety of flood coverage solutions, including protection from carriers that is far more comprehensive than the coverage provided by the Federal Flood Insurance Program.
This important Bloomberg News article exposes the strategies used by a few large insurance carriers to pay far less to claimants than their policies and fair claims practices should have obligated them to pay.
Although the article contains several factual errors and miscalculations, it does a great job describing the origins and use of the alarming strategies used by a few large insurance carriers to keep their claims costs low.
The stunning lessons from this story help illustrate why you should follow my best advice on personal risk management: “Let the buyer beAware”. http://www.bloomberg.com/news/marketsmag/mm_0907_story1.html