Archive for October, 2014

Data Breach

Posted on: October 30th, 2014 by Commercial Insurance No Comments

It seems like every month we hear of another example of a Data Breach in the news.

Some think Data Breach is a big business problem. Actually, 31% of data breaches investigated in 2012 were from organizations with fewer than 100 employees.

When a small business collects personal data they do it with the promise of keeping personal data private and protected. The loss, theft, accidental release or accidental publication of personally identifiable information, whether stored electronically or in paper files, results in a Data Breach. These videos give you a couple of examples of how easily accidental release can occur.

For more information on the coverage and cost for your business give us a call.

Shred It

Do not miss out FREE “Shred It” Event…
This Saturday, November 1st, 9am-12pm

Herlihy Insurance Group
51 Pullman Street
Worcester, MA 01606

Join the event on Facebook!

Herlihy Insurance Group Wishes you and your family a Happy Halloween!

Posted on: October 27th, 2014 by Personal Insurance No Comments

Here’s our Halloween Safety Check list!

  • Create a Clear Path – Prevent visitors after dark don’t stumble and injure themselves by keeping the area around your home unobstructed.
  • Keep the Lights On – Be sure that trick-or-treaters and other visitors are able to see clearly after dark to a fall on your property.
  • Confine Your Pets for Protection – Dogs and cats could jump on or even bite unfamiliar visitors — especially those in costume. For the safety of your guests as well as your pets, keep dogs and cats away from the front porch or open areas.
  • Be Smart About Pumpkin Carving – Leave the pumpkin-carving to the “adults” this Halloween.
  • Jack-o-Lantern Safety – Jack-o-Lanterns left unattended can easily be tipped over by trick-or-treaters or pets. Avoid fire damage claims by using a battery-powered light in your pumpkin.
  • Avoid Open Flames – Just as with Jack-o-Lanterns, setting the spooky Halloween mood with candles and luminaries that can easily be overturned could cause a problem. Consider light sticks or battery-powered lighting instead.
  • Think Before You Serve – Remember that you are responsible for the safety of guests who will visit your home this Halloween. Trick-or-treaters should be given only commercially-packaged treats. Likewise, be sure to protect those who will be driving later by serving non-alcoholic beverages to your older party guests; and, of course, avoid serving alcohol to anyone who is under-age.
  • Assure Home Security – Will you be away from home during Halloween? Remember to set your security alarm system before you depart. Alert your neighbors if you will not be at home.
  • Test Your Home Smoke Alarms – While you are testing your home security system, don’t forget to test your smoke alarms.

ENJOY a Safe and Fun Filled Halloween! We will be celebrating at our office on 10/31/14 Look for our SPOOKY photos on our Facebook page!

Fall Changes All Around

Posted on: October 24th, 2014 by Commercial Insurance No Comments

As the leaves are changing so does your business.

Have you had any of the following changes:

Has the name of your business changed?
Have you restructured your company ownership (gone from a sole proprietorship to LLC or Corporation) or added any DBA’s?

Has your business changed owners, partners, or offices?
Has the nature of your business operations changed?
Have you changed or expanded the types of products you sell and or services you offer?

Have you added new locations, expanded into new states or outside of the United States?
Have you closed or moved any locations?
Has there been any increase/decrease in your company payroll or sales?
Have you entered into any new customer contracts?

Have you added or eliminated vehicles used in your business operations?
Do you use your personal vehicle for business, allow employees to use your personal vehicle for business or allow employees to use their own personal vehicle for your business?

Calling your insurance agent may not be the first thing on your mind when something changes but is it important to make sure you have the right protection in place.

If you answered yes to any of these questions or would like a comprehensive coverage review of your insurance program please give us a call!

Who is home and why it matters!

Posted on: October 20th, 2014 by Personal Insurance No Comments

Who is home?

My parents always taught us that honesty was the best policy and I must admit usually this is absolutely true!

For some strange reason at times individuals do not always tell their insurance agents the “truth” about their homes. We all know that there can be grey areas about all sorts of things in life but I wanted to share why the “truth” really matters when it comes to your home insurance.

A home insurance policy is just a contract that outlines what it will pay and under what conditions it will pay.

When you have a traditional home insurance policy it will pay your covered claims when your home is occupied by you as the home owner. Occupied is pretty straight forward for most of us.

Now if your home is unoccupied or vacant that is when you will have trouble with a traditionally covered home insurance claim being paid.

Unoccupied refers to your home in which you have furnishings but you are not living there.

Vacant refers to your home in which the home is an unoccupied space.

Once your home is either unoccupied or vacant for more than 30 days important home insurance coverages automatically drop off your policy. Unfortunately the policy is written this was.

So what is a home owner to do?

Just notify your insurance provider if your home becomes unoccupied or vacant. Once you do this we work with the insurance company to devise a solution for your no longer occupied home.

Our goal at Herlihy insurance is to make certain that our clients have the insurance protection they selected at claim time. We can do that! We just need to make sure we know WHAT exactly we are insuring.

Your Family’s Records are Your Business!

Posted on: October 13th, 2014 by Personal Insurance No Comments

Important Documents

Families plan, save, buy, and invest just like most businesses. Maintaining the family records is just as important as keeping business records is. In our home I am suppose to be the keeper of all records. For those who live in our house at times this job has been problematic for us. Think lost health forms, misplaced social security cards and those are just the few of the misplaced items I am admitting to today.

I came across this simple list of “things” to keep that I thought was a reasonable. My plan is to try this out at our house.

  • Essential personal and family records such as birth, marriage, and death certificates should be permanently stored. The same rule applies to passports and original Social Security cards. Backup electronic copies via scanning should also be maintained.
  • Vital property records, such as real property deeds, burial lot deeds, and motor vehicle titles, should also be permanently stored.
  • An inventory of household goods and appraisals should be stored in a safe deposit box or electronically. Photographs or videos of valuable personal property should also be maintained and safeguarded.
  • Insurance policies should be kept a minimum of 5 years in a home file. A list of all current insurance policies and policy numbers should be maintained.
  • Auto service records should be retained in a home file for the duration of the ownership of the vehicle.
  • Copies of canceled checks for non-tax-deductible expenditures should be stored in a home file or electronically for 3 years. Receipts and records of deductible expenses should be stored for 6 years. Copies of past tax returns should be kept a minimum of 7 years.

Once I get all these items organized I plan to get rid of boxes of old records! Fortunately for me our agency is having a “Shred It” Day November 1! So my plan is to get organized by then so I can join the big SHRED.

We invite all of our clients and friends to join us in our Shredding Event. Check out our Facebook page for all the details.

Hope to see you then!

Business Income & Extra Expense

Posted on: October 10th, 2014 by Commercial Insurance No Comments

1 in 4 businesses that are forced to close due to a storm or disaster never reopen.

Business Income Coverage can change all that. Hartford Insurance (one of the companies that we represent) put together a short video (under 3 minutes) to illustrate the importance of Business Income Coverage.

If you have a medical practice or Healthcare facility, We also have specific coverage enhancements available to you.

If you have questions, Call us, We have the answers!

What would you do with an extra $700?

Posted on: October 6th, 2014 by Personal Insurance No Comments

That is the question for a returning customer to our office this week! Our agency saved them $700 by inviting them back to our agency and reviewing their insurance.

A quick story about their insurance. This client decide to go through their employer for a “group discount” for their personal insurance two years ago. A few things happened along the way:

  1. The Employer Group Discount Program was a good deal for one year.
  2. The client’s insurance coverage limits were reduced without their knowledge.
  3. In the second year of this change our agency could now save them $700.

Here is what we see about Employer Group Discount Insurance Programs. Typically in the first year of the program, clients save money for the year. Where we see the issue is in subsequent years. Because some of the Employer Group Discount Programs are usually provide by ONE insurance company, you would only have access to one set of pricing and coverage options.

At Herlihy Insurance Group we have multiple companies for your insurance so when one company has a rapid price increase we can present other options for you.

Most Employer Group Discount Programs do not have other options!

It is always a good idea to check in with your insurance agent every two years to check over your pricing and coverage options. Insurance company programs change and so do your insurance needs. Here at Herlihy Insurance Group we can go out to multiple companies and offer you a range of options.

Discount programs are always a great concept to review. Just always check that they are truly providing a “discount” to you!

Back to that $700. What a great surprise for the start of the new year!

Contractual Risk Transfer

Posted on: October 3rd, 2014 by Commercial Insurance No Comments

Today we see more contracts in business and more requirements and clauses in those contracts.

A good Contractual Risk Transfer Agreement, or CRT, allocates all or a portion of the liability of a potential loss to the person most responsible for it, such as a subcontractor. A strong agreement should cover the key components of risk transfer, such as…

  • Indemnification;
  • Additional insured status;
  • Job site responsibilities, including safety and clean-up; and
  • Business relationship details with subs, such as bond requirements, time of performance and termination.

The future sustainability of a contractor’s livelihood may rely on the strength of their contractual risk transfer agreements. If you use subcontractors make sure you have the right protection in place. If you are a subcontractor and sign these agreements you also want to make sure you know what you are signing and you have the coverage in place to protect you.

If you have questions, call us, we have answers!