On August 23, 2011, a 5.8 magnitude earthquake centered near Mineral, Virginia was felt from Alabama to Ontario. Many of those affected did not know that earthquakes could happen in places like New York City, Washington D.C., or Philadelphia. These people held the common, but...
Completing an application for insurance can be time-consuming and tedious. Nevertheless, the application is important because an insurance company will use an applicant’s answers to determine whether to offer insurance and how much to charge. In making these determinations, insurance companies generally have the right...
Condominium associations can be sizeable organizations responsible for overseeing and managing hundreds of residents, possibly thousands. This responsibility often involves hundreds of thousands, or possibly millions of dollars worth of property and revenue. A for-profit organization dealing with similar figures will commit significant resources to...
Driving a new car off the dealer’s lot and onto the open road can be exciting. For many new owners, however, the excitement is often tempered by the fear that their car will sustain significant damage while it is still nearly new. When a new...
It is not uncommon for insureds, even sophisticated ones, to be confused about the precise meaning of the coinsurance clause found in their property insurance policies. In fact, many insureds fail to appreciate the effects of the coinsurance clause until they are endured after a...
Renters often believe they have little in common with those who own their homes. While there are some significant differences between renting and owning, the need for insurance is not one of them. Indeed, renters and homeowners have very similar insurance needs. Unfortunately, many renters...
According to the Department of Justice and the Federal Trade Commission, the nation's computer fraud problem is increasing on a yearly basis. Those using computers to perpetrate their crimes have introduced the business community to a plethora of risks that are typically uninsured by traditional...
Building ordinances and laws (building codes) are upgraded regularly to improve a structure’s resistance to windstorm, earthquake, fire, and collapse. Since some of these changes apply to new construction on a go-forward basis, it is not uncommon for older buildings to increasingly depart from current...
If asked to prepare a complete inventory of every item of personal property in their home, many people would probably struggle to identify even half of their belongings. Despite the difficulty of such a task, most are left with no choice but to depend on...
Employers offering 401(k) plans to their employees assume significant responsibilities under the Employee Retirement Income Security Act. As the federal law designed to protect employee retirement plans, ERISA imposes strict standards of care upon those who establish and administer such plans. Unfortunately, many employers fail...