The Claims Process: What Can You Expect?

June 25, 2012  |  Tower Hill Insurance

So, you have damage to your property. Tower Hill and CastleCare are here to help! Here’s a step-by-step summary of what to do and how the claims process works.

• To file a claim, call our 24-hour Claims hotline at 800.342.3407 or file a claim online as soon as possible after it occurs.
• If you have a Tower Hill flood policy separate from your homeowners policy, please contact Torrent Flood at 877.254.6819.
• At the time a claim is first reported, a claim number is assigned and provided to you. It is helpful to have your current policy number and contact information available prior to placing the call.
• You can be immediately referred to Tower Hill’s CastleCare Team at 844.TOWER.11 (844.869.3711) for the repair and restoration process to begin. CastleCare provides emergency services, such as water removal and roof tarping, plus a full-service contractor network for both residential and commercial properties.
• During hurricane season and depending on the severity of storm damage, Tower Hill may set up a temporary Catastrophe Response Center in affected areas. In addition, the Department of Insurance often designates “Insurance Villages” to assist customers in those areas hardest hit by the catastrophe. Tower Hill will publish this information on THIG.com’s News Alert page and via Facebook and Twitter.
• Following receipt of a claim, they are sorted by severity and assigned to an adjuster for inspection.
• The Tower Hill adjuster will call you to schedule a time/date to inspect the damages. CastleCare works closely with your Tower Hill Claims adjuster to help determine the assistance needed. NOTE: Minor damages that do not require an inspection are often handled by our in-house staff; you will be contacted by telephone.
• Prior to the meeting with the adjuster, you should complete a home inventory list of damaged items, take photos or video tape of the damage, compile available receipts for damaged items and temporary repair expenses, etc. Providing a copy of this information to the adjuster will help speed up the claim review process.
• For repairs to your home, the CastleCare network contractors in your local area handle all project details, from start to finish.
• After a complete review and inspection, the adjuster report is submitted to the Tower Hill Claims Representative for review. CastleCare representatives submit all required documents relating to their services directly to Tower Hill.
• Following review, the claim is settled and payment is made.

Your complete satisfaction matters to us! If you have questions or concerns about your claim, please contact your Adjuster directly or call our Claims Customer Service Center at 800.342.3407 between 8am and 6pm (ET) Monday through Friday.

2016 FEMA Flood Changes

Learn about New Rates and Other Changes Affecting Your Clients Starting in April Beginning April 1, 2016, the National Flood Insurance Program (NFIP) will begin implementing additional flood insurance program changes resulting from reform legislation. These changes may significantly affect what your clients pay for their flood insurance. While some property owners may see minimal policy cost increases, others will experience larger premium increases—for example, clients with buildings in high-risk areas built before that community’s first Flood Insurance Rate Map (pre-FIRM). Be sure to tell your clients about these increases and other changes before they go into effect. A summary of all of the changes is below, but you can find more details in the recent April 1, 2016, Program Changes NFIP Bulletin. Premium Increases Overall, average premiums will increase by 9 percent. On April 1, 25 percent annual increase for pre-FIRM business properties begins. Rate Increases for Buildings Newly Mapped into High-Risk Zones Buildings newly mapped into a high-risk Special Flood Hazard Area (SFHA) will receive premium rate increases using a FEMA multiplier that will change every January 1 (beginning January 2017) based on the year the new map became effective. You will need to be aware of which multiplier to use when writing your client’s policy to ensure that you apply the correct increase. Certain Lapsed Policies Now Rewritten at Full-Risk Rates (with two exceptions) Lapsed policies on pre-FIRM subsidized-rated buildings or policies rated using the Newly Mapped procedure will be rewritten using full-risk rates if coverage has lapsed more than 90 days or lapsed twice, regardless of the number of days, unless: The lender no longer required the insured to obtain and maintain flood insurance at the time of lapse or cancellation; OR The insured was in a community that was suspended from the NFIP, and the coverage was purchased within 180 days of the community‘s reinstatement. This change also applies to policies written after April 1, 2016, on policies that lapsed prior to this date. FEMA will also count as a lapse coverage that was switched from a NFIP policy to a non-NFIP policy. Change in Reformation of Coverage Procedure Starting April 1, 2016, how a policy is re-rated changes if a rating error is discovered: If a rating error discovered at claim time is found to be due to an incorrect Base Flood Elevation (BFE) or flood zone and an additional premium is needed, the policy only has to be re-rated going forward (called prospective reformation). If any other rating error is discovered at claim time, only the current term needs to be re-rated. If any other rating error is discovered—other than at claim time—only the current term needs to be re-rated, unless the discovery occurs within 60 days of renewal; in that case, the correction will be made effective at the next policy renewal. Communicating Flood Risk Determinations In response to recent reform legislation requiring FEMA to clearly communicate flood risk determinations to policyholders, WYOs and the NFIP Direct Servicing Agent will re-underwrite all policies receiving pre-FIRM subsidized premium rates, standard X-zone-rated, Preferred Risk Policies, and policies rated using the Newly Mapped procedure, so that FEMA can begin providing additional information to renewing policyholders regarding their flood risk, starting with October 2016 renewals. Agents should be aware they may be asked to help. FEMA will also provide this information to new policies starting April 1, 2016. Be sure to visit Agents.FloodSmart.gov. to access tools and resources that help you protect your customers and build your business.

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Did You Know? 10 Fun Facts about Daylight Saving Time

Did You Know? 10 Fun Facts about Daylight Saving Time: There's quite a bit of history to changing our clocks. Everything from candy makers to world history is tied to when we change our clocks each year.

Protecting Your Business: Slip, Trip, and Fall Hazards

Did you know?

• Over one million people in the United States experience a significant slip, trip, or fall each year.
• An average of 17,000 Americans dies from those slips and fall accidents.
• Slips and falls are the single most common reason for visits to the emergency room.
• The average cost of a slip and fall injury, including medical bills, physical therapy, and missed wages, is substantial.  Further, these type losses drive the increased cost of business insurance.
• Slips and falls are the number two cause of accident death and disability, following behind automobile accidents.

Within a business or a residential community, there is a legal duty to provide a safe environment for persons who enter the place of business or property –customers, delivery persons, vendors, residents, etc. This means that if a trip hazard exists which is either known or should have been known with a reasonable inspection of the premises, there is a duty to warn and educate others about the hazard or remove/mitigate the hazard.

Why should a business or community correct fall hazards?

• Reputation, in general; Good Public Policy
• Appearance & Security of the Business or the Community
• Reducing or maintaining your insurance costs at a reasonable level
  • Many claims, even though small, will make your insurance more expensive
  • A large claim can make your insurance rates go up substantially
  • Too many claims, either small or large, may make it difficult and expensive to find coverage

“Hazard?  What hazard?”

People tend to trip on all sorts of things–displaced concrete walking surfaces, parking lot pot holes, wet floors, debris on the floor, uneven walking surfaces, and their own two feet. Here are the Basic Walking Surface Standards according to ASTM F1637-10 and the Florida Building Code:

• The maximum displacement between walking surface joints is ¼”
• If the displacement is between 1/4” and 1/2”, then the edge should be beveled
• The walking surface should be slip resistant
• Carpet should not be wrinkled, loose, or with holes, seams, &/or with frayed edges
• Parking lots should be smooth and even with no pot holes
• Wet floors should be marked with signage  and the water or other substance cleaned up, immediately
• Parking stops should be in good condition & property secured
• Common areas and walkways should have adequate lighting

Property should be inspected on a regular basis for any type of hazard.  An inspection check sheet is available for use in identifying hazards at businesses and within communities.

originally Posted by Jim Gibson Tower Hill Insurance

Preventing Home Flooding

Preventing Home Flooding During El Niño

With this year's expected strong El Niño, it is important to consider ways we can help prevent damage to our homes and communities. El Niño this year is expected to be one of the strongest on record and will continue to rage throughout the winter. Before the storm hits, follow these five steps to help protect your home from flooding.

1. Clean Out Gutters

   Leaves, twigs, and other debris that has been dropped by birds or the wind can quickly build up in your gutters. Go around your house and make sure the gutters are clear of any leaves or debris to keep leaking and clogging to a minimum.

2. Reattach Loose Gutters

   After years of powerful wind and weather, your gutters may not be as securely fastened to your roof as they once were. Make sure they are tightly secured to decrease the possibility of detachment.

3. Extend Gutters and Downspouts

   Keeping water away from your foundation is critical during a downpour — extended gutters and downspouts will keep that rain water far away. A downspout should extend at least three feet from the foundation of your home — gutters work best when 7-8 inches wide. These changes will decrease the likelihood of your home's foundation from being saturated, which could lead to a flooded basement.

4. Cover Window Wells

   Covering your window wells will prevent water and debris from filling the area if a gutter clog occurred during the storm. Check these window wells often during the storm in case of leakage.

5. Keep Storm Drains Clear

   After gutter cleaning, you might have a lot of debris to dispose of — consider putting that debris in eco-friendly yard bags to keep streets clear. Dumping the waste on the side of the street will clog storm drains alongside the road and put a strain on your local resources and services. Do your streets a favor and keep those leaves contained.

It's important to know that most home policies don't cover flooding — just a few inches of water damage can cost thousands! If you decide that flood insurance is som

Why You Need A Private Disability Income Policy

 

 

 

 

 

Why You Need A Private Disability Income Policy

You know that you need a backup plan for the possibility that you could become disabled and unable to work. You need a way to bring in that lost income so that you can continue to pay your bills and take care of your family. This is known as disability income insurance, and you may already have some form of this coverage included as part of your benefits at work. Unfortunately, if you are relying on this coverage to get you through a serious disability, you may find yourself out of luck.

Verify Your Coverage

You need to know exactly what is covered and what is not in your benefits package. Take the time to talk to your HR department and ask for a copy of the policy. You need to look for a couple of things: short-term and long-term disability coverage, and what percentage of your salary will be paid out while disabled. Finally, you need to know how long the benefits last before running out and leaving you on your own.

Odds are when you look at this policy with a critical eye you will quickly realize that it's really not enough. If you were to face a serious long-term disability, most employer provided disability policies would not be enough to get you through. If this is the case, you need to consider a private policy.

Why It's Worth The Cost

Very few of us have enough savings put aside to keep us afloat for very long if we were unable to work. That is why disability insurance exists. A disability income policy is designed to pay your salary when you are unable to work, and a private policy almost always provides better and more comprehensive coverage than those provided by employers. In many cases, employer provided policies give you only a certain percentage of your salary and last for a limited period of time.

While a private policy will also have limitations, you are free to choose the policy that provides you with the best level of coverage possible and the most peace of mind. You can also extend your benefits beyond the employer-provided policy and ensure that you can get the longest possible time to recover and get back on your feet. The monthly premiums on a private policy are well worth the peace of mind.

Disability income insurance is a policy no one should be without; the loss of your income could leave your family devastated. Be prepared by taking the time to look over your current benefits and talking to your insurance agent about how to increase them.

 

www.lehnandvogt.com

9416988877

 

 

FEMA Responds to Florida’s Flood Rate Request, Sort Of

 

By Amy O' Connor | February 17, 2016

The Federal Emergency Management Agency (FEMA) has responded to Florida’s request to review the National Flood Insurance Program (NFIP) rates but it may not be as forthcoming and helpful as Florida officials had hoped.

In a letter dated Dec. 29, 2015 (see below), FEMA Deputy Associate Administrator for Federal Insurance and Mitigation Roy E. Wright acknowledged Florida Insurance Commissioner Kevin McCarty’s October, 2015 letter in which he asked FEMA to provide ratemaking data as it pertains to Florida to determine if the rates are “excessive, inadequate, or unfairly discriminatory.”

“FEMA is committed to ensuring its rate setting practices are fair, equitable, and transparent, and we appreciate your interest in supporting us in our efforts,” the letter to McCarty states.

Wright’s letter mentions a phone call discussion with FEMA staff and McCarty on Dec. 21, that included two of FEMA’s actuaries.

“We appreciate the collegial tone of that discussion and look forward to continue working with you in this effort,” Wright wrote. “As we mentioned during that phone call, FEMA is constantly reviewing and refining its rate-setting methodology and works to increase the transparency of that methodology.”

The letter outlines how FEMA has tried to increase the transparency of the rate-setting process, specifically since the passage of the Biggert-Waters Flood Insurance Reform Act of 2012. Wright also directed OIR to a June 2015 independent evaluation from the National Academy of Sciences that it says “provides a strong foundation as we continue to evaluate and improve our rate setting.”

Wright concluded FEMA’s response by saying that the agency is in its first steps of its efforts to “increase transparency and ensure our rates are fair and equitable.” Wright said he welcomed further discussions with McCarty on NFIP rate setting after McCarty has viewed the report.

The response from FEMA, however, does not provide the rate information Florida lawmakers are looking for to ease the expense of the Florida flood insurance marketplace.

“The response they sent basically says ‘we will eventually comply maybe someday,’” said Florida State Senator Jeff Brandes, who has been leading the charge, along with McCarty, to offer more affordable flood insurance options in Florida. “I am at a loss for why it is so hard for them to say either yes or no…The data is available.”

OIR said it is continuing discussions with NFIP on the issue. Brandes said he and other state lawmakers will allow some time to go by to see what FEMA’s next response is.

Brandes is confident that these discussions will move forward despite McCarty’s planned exit on May 2.

“OIR has made it very clear that this one of their highest priorities,” he said. “I think the next commissioner will absolutely continue to work for fairness for the Florida flood insurance market.”

 

Sahred from Insurance Journal