Insurance Blog
Please read and comment on our blog about a wide variety of insurance topics. Please feel free to ask us any questions.
Minnesota Insurers May Face Worst Year Ever for Catastrophe Losses in 2010
Posted: December 2, 2010
This is more bad news about the property loss problems in the State of Minnesota. This is an article from BestWire about Minnesota insurance companies’ probable losses in 2010. This is bad news considering Minnesota is already the 3rd worse state for property claims. Expect to see double digit increases on homeowners’ insurance renewals and higher mandatory deductible minimums. OLDWICK, N.J. November 12, 2010 (BestWire) — Unusual...
Social Media-Companies-And The Risk for All
Posted: October 18, 2010
Social media is becoming a fixture in every aspect of our lives and sometimes not by choice. Travelers Insurance has written the following article regarding the risk-exposures for companies involving Social Media and offered advice on managing the risk. I think the article is very interesting, useful and would suggest everyone consider applying some of the advice when using social media for personal use. Social...
Who’s afraid of the minimally-insured driver?
Posted: July 23, 2010
A short video from Safeco Insurance Company on why everyone should increase the un-underinsured motorist coverage on an auto insurance policy....
Home Insurance Replacement/Rebuild Cost. Homeowner Beware!
Posted: May 7, 2010
HOME REPLACEMENT-REBUILDING COST AND HOME MARKET VALUE ARE NOT THE SAME VALUE! Insurance companies don't care about the market value of your home. I will restate to annoy and alarm, insurance companies don't care about the market value of your home. Insurance companies however are very concerned with the replacement cost or rebuilding cost of your home. Just about every homeowners insurance contract requires you...
Minnesota Homeowners Insurance Claim-Loss Problems
Posted: March 3, 2010
Minnesota was the third worst profitable homeowner’s insurance market in the nation for the decade that ended in 2008. Only Mississippi and Louisiana were worse. Insurance companies lost money in 8 of the last 10 years. What are the causes? Bad Weather: Hail Storms Wind Storms Tornados Pipe Bursting Cold Severe Snow Overall insurance carriers posted a 19.3% annual loss for the decade. In 2008...
