STOLL INSURANCE AGENCY - Lakewood Ohio

DRIVING LESS DUE TO GAS PRICES - LET US KNOW

2008-07-02T13:57:00.000-07:00

REDUCED PREMIUMS BASED ON LESS MILES DRIVEN.

YOU MIGHT BE ELIGIBLE FOR A REDUCTION IN YOUR AUTOMOBILE INSURANCE PREMIUMS.

The Ohio Department of Insurance issued a press release on July 25, 2008 informing consumers that a change in their driving habits due to the high price of gas may entitle them to lower automobile insurance premiums.

Most insurance companies divide drivers into three categories: pleasure drivers, those who drive 15 miles or less one way to work and those who drive 15 miles or more one way to work. Drivers who drive as part of a carpool may be eligible for pleasure driver status if they drive less than two days a week or two weeks in a five week period. Also, Ohioans who have recently moved closer to their jobs or have switched jobs to a location closer to their home may also be eligible for lower premiums.

A change in designation could save a driver anywhere from 5-15% depending on the insurance company. A quick call to your insurance agent will determine whether or not you qualify for a rate reduction and how much that reduction will be.

EMPLOYMENT INTENTIONAL TORT - COVERAGE TO PROTECT YOUR BUSINESS

2008-05-07T14:50:00.000-07:00

ARE YOU GAMBLING WITH YOUR BUSINESS' INSURANCE COVERAGE?

An article published by: Inside Business titled Protecting Your Company What you need to know about Ohio’s employment intentional tort law and what steps to take to prevent claims that can burden your business. By Peter Strozniak

Important legal developments in the area of insurance coverage for employment intentional torts was discussed. The author noted the following general recommendations for commercial employers:

To protect your company, review your general
commercial liability policy to see what kind of coverage
you have for employment intentional tort claims. What’s
more, you should have a risk-management program that
may help in your legal defense against tort claims.
Most general commercial liability policies offer “stopgap
endorsements,” which provides extra insurance
coverage to protect your company. However, the terms
of the stop-gap endorsements vary among insurance
companies, as well as policies, says [Edward] Stoll [Chair of the Insurance

Practice Group with Benesch, Friedlander, Coplan & Aronoff, LLP.]

For example:
some policies may cover the cost of legal defense against
a tort claim, but won’t pay for damages if awarded by a
jury.

Employers need to carefully review the language in
their stop-gap endorsements and look for language
that excludes coverage for substantial certainty, Stoll
explains.

“You will not find a policy that will provide insurance
coverage for deliberate intent claims, but you can get
coverage for substantially certain claims,” says Stoll.
“It’s worth the time and money to have your attorney
or insurance broker review those endorsements to make
sure your company is covered for employment intentional
tort claims.”

Another way to protect your company is to form a
risk-management program. If you can’t justify the cost
of hiring a full-time risk manager, you may consider
hiring a consultant who can make an assessment, help
you identify risks and launch a program. Some attorneys
and insurance brokers also can assist you with such a
program.

“A risk-management program that a company uses and
follows through with can certainly put them in a better
position to defend against an employment intentional tort
claim,” says Stoll.

Ohio Insurance - Law/Policy/Advocacy: TRIPRA Update - Terrorism Risk Insurance Program Reauthorization and Extension Act of 2007

2008-01-02T16:35:00.000-08:00

Ohio Insurance - Law/Policy/Advocacy: TRIPRA Update - <strong>Terrorism Risk Insurance Program Reauthorization and Extension Act of 2007</strong>

Tree Roots Blocking Sewer Line - Covered?

2007-11-13T17:07:00.001-08:00

TREE ROOTS AND SEWER LINES

Your toilets, sinks and tubs won’t drain. The plumber discovers a blockage in the main sewer line running from the house to the street caused by tree roots. Does the HO policy cover the cost to repair or replace the sewer line?

Unlike the ISO building and personal property commercial coverage form, the homeowners forms do not exclude damage to underground pipes and similar equipment. An all-risk or named-exclusions policy that does not specifically exclude the actions of tree roots would cover such losses as long as they are fortuitous (i.e., not subject to the neglect exclusion). Some insurers reportedly have specific tree root exclusions, but the ISO-standard HO-3 does not.

The key issue is whether the sewer line has actually been damaged. It’s possible for roots to penetrate joints without damaging them, but even then, there could be enough separation in the joint to constitute damage. It there’s no damage, then there’s no coverage; otherwise, there is not an exclusion. For more information, including a discussion of the wear-and-tear exclusion, go to IAmagazine.com.

Ohio Insurance - Law/Policy/Advocacy: Will The New Employment Intentional Tort Statute Survive Constitutional Scrutiny?

2007-10-27T20:14:00.000-07:00

Ohio Insurance - Law/Policy/Advocacy: Will The New Employment Intentional Tort Statute Survive Constitutional Scrutiny?

Why Put My Auto and Home Insurance With One Agency?

2007-10-25T13:55:00.000-07:00

Does the "Eggs in One Basket" approach apply to my insurance policies?

Simply put: "No."

The More the MerrierStudy reveals homeowners more satisfied when subscribing to multiple polices. Homeowners insurance policyholders who bundle other policies with an insurer are more likely to be satisfied than those who only have a homeowners policy, according to the J.D. Power and Associates 2007 Homeowners Insurance StudySM.

The study polled more than 100,000 households to identify customers of the 24 largest national insurers. J.D Power found 70% of homeowners insurance policyholders have additional policies with their insurer and as the number of policies with the insurer increases, so does the customer satisfaction. Customers who hold only one policy with their insurer had an average satisfaction score of 640 on a 1,000-point scale, which is 175 points lower than customers who hold five or more products.

“Policyholders can enjoy many benefits through bundling multiple insurance products under a single provider, such as convenience in billing processes and multiple-policy discounts,” says Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates.

Taken from Big "I" P&C Trends

TRIPRA (Terrorism Risk Insurance Program Reauthorization Act)

2007-10-25T13:44:00.000-07:00

*Note: This post has been updated. Please see archives on sidebar for update.

The Senate Banking Committee passed the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) of 2007. The TRIPRA bill would extend the current federal terrorism insurance backstop, which is set to expire at the end of this year, for an additional seven years. In addition, it would modify the definition of terrorism to include domestic acts of terror and would require ongoing reports to Congress from the President's Working Group on inclusion of coverage for group life and nuclear, biological, chemical and radiological (NBCR) events.

“With the terrorism backstop set to expire, this significant step toward extending it on a long-term basis comes at a critical time,” says Charles Symington Jr., Big “I” senior vice president for government affairs and federal relations. “We applaud the committee for taking action and hope this crucial legislation will gain full Senate approval as soon as possible.”“Getting this important legislation passed before the end of the year is a priority for our members and we are grateful to the committee for advancing it a step closer,” says Jason Spence, Big “I” assistant vice president for federal government affairs.

Taken from Big "I" Insurance News and Views

Ohio Homeowner and Automobile Combined Coverage Discounts

2007-10-24T12:06:00.000-07:00

Stoll Insurance offers substantial discounts when you combine your homeowner insurance with your automobile insurance through our agency. Ask for a "combined quote" and receive substantial savings today!

Choosing an Independent Insurance Agent

2007-10-23T10:22:00.000-07:00

Why an Independent Insurance Agent?

Some people think it doesn't really matter where they buy their insurance. But this misconception could be costing them money, service and protection. Buying insurance isn't like buying bread or milk. Insurance is an important safety net for your family, your home, your car or your business. Don't treat the purchase lightly!

There is a difference in where you buy your protection. Many people don't realize there are three sources for insurance:

Captive Agents, who can sell you the insurance of only one company.

Telephone Representatives, who can offer you the insurance of one company, and only on the telephone.

Independent Insurance Agents, who represent an average of eight insurance companies, and research with these firms to find you the best combination of price, coverage and service.

Here are some important points about purchasing insurance from an independent insurance agent:

Unlike other agents, an independent insurance agent is not tied to one insurance company. You don’t need to change agencies as your insurance and service needs change.An independent insurance agent treats you like a person, not a number. You can develop a personal relationship with your independent insurance agent. Can you do that with a voice on the phone? Your independent insurance agent has strong customer and community ties.An independent insurance agent offers one-stop shopping. Dealing with a direct response company or a captive agent limits you to the plans available through only one company.

An independent insurance agent offers many plans through many companies, giving the consumer the potential for the broadest range of coverage at a competitive price. One call puts you in touch with someone who can do the comparison shopping for you.An independent insurance agent provides personalized claims service. When you purchase insurance from a direct response company or a captive agent, who is going to assist you in the event of a claim? Your independent insurance agent is there for you when you need help. You agent can contact the insurance company and get the claim process rolling, help you fill out claim forms, advise you on the progress of your claim and work closely with the insurance company to make sure you get a prompt and fair settlement of a valid claim. (Taken from Independent Insurance Agents of Ohio, Inc. "Consumer Information.")