Demonstration of Insurance Policies as Contracts

Demonstration of insurance policies as contracts. Man holding home mini model.

Insurance policies are in fact contracts. All contracts, including insurance policies, contain rights and duties. A recent Michigan Court of Appeals case demonstrates that insurance policies are contracts. In the case of Fabatz v. Auto-Owners, December 17, 2020, Fabatz made an addition to their home in early 2017 at a cost of $150,000. The insurance […]

Protecting Your Building for Winter Vacancy

Photo of winter city street

It’s typical to prepare for the cold and snow as a part of your winter maintenance routine. But things might look a little different this year if your building is vacant or only partially occupied because of COVID-19 or another reason. However, any changes in occupancy should not affect the care and management of your […]

Temporary Rules for Flexible Spending Accounts

Temporary Rules for Flexible Spending Accounts

There are new temporary rules for Flexible Spending Accounts (FSAs).  President Trump signed the Consolidated Appropriations Act of 2021 into law on December 27, 2020. The Act provides temporary special rules for health and dependent care flexible spending accounts (FSAs) that give employees additional time to use these funds. Change in Election Amounts Employees are also able […]

Value Replacement Cost vs. Market Value

insurance-to-value replacement cost. Picture of man holding a small house with paperwork in front of him.

Today, we’ll discuss insurance-to-value replacement cost vs. market value.  Every homeowner needs home insurance. But, this type of insurance can be confusing and leave you asking questions. With defining terms such as insurance-to-value replacement cost, reconstruction cost, and market value, homeowners might be comparing these definitions to the current market value of their homes. The […]

What is a Personal Cyber Insurance Policy?

personal cyber security close up of computer keyboard

What is a Personal Cyber Insurance Policy? A personal cyber insurance policy is designed to provide financial reimbursement for costs associated with digital information theft and assets up to your cyber insurance policy’s limits.   Should I Consider a Personal Cyber Insurance Policy? Even though we see news stories and articles about online cyberattacks on […]

Five Ransomware Developments — and What’s Next

Five recent developments in ransomware and what to expect next - code on screen in shape of a skull

While most people know the basics of ransomware, the details of this threat – like all aspects of cybersecurity – are constantly evolving with new developments. Learn about the trends and what to expect next. In this post by Nick Graf, Assistant Vice President, Information Security, Risk Control at CNA Insurance, Graf discusses recent changes […]

Medicare Part D Notices Deadline Approaching

A corkboard with a post it that reads "Medicare"

The annual Medicare Part D disclosure notices have a deadline of October 15, 2020. Highlights of the Annual Medicare Part D Notices Medicare Part D imposes disclosure requirements on employers with group health plans that provide prescription drug coverage to Medicare-eligible individuals. Plan sponsors must provide the annual Medicare Part D creditable coverage disclosure notices […]

Myths About Life Insurance Dispelled

Myths about life insurance. Family in park, watching a sunset

There are myths about life insurance. The idea of shopping for a life insurance policy can seem morbid, suspicious, and confusing. Plus, there are a lot of misconceptions about the value life insurance offers, how to buy it, and what the policy rules are. However, if the idea of protecting your family and ensuring their […]

Medical Loss Ratio and MLR Rebates

Photo of a group of co-workers in a meeting.

What is Medical Loss Ratio (MLR)? Medical Loss Ratio (MLR) is the percent of premiums an insurance company spends on member care, claims, and administrative expenses that improve health care quality.   What is the Medical Loss Ratio (MLR) rebate? The Patient Protection and Affordable Care Act (PPACA) of 2010 requires insurance companies to pay annual […]

Who Needs Umbrella Insurance?

Photo of a woman with children, each carrying umbrellas on a country road.

You may have heard of the term “umbrella insurance policy.” Is this type of insurance something you need to consider as part of your insurance plan? Do you really need umbrella insurance? We’ll answer frequently asked questions about umbrella insurance so you can make informed decisions for your situation.   What is Umbrella Insurance? Umbrella […]

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