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July 20, 2010  
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Insurance Advisors Terms


  > Weather
The impact of weather on businesses is more complex than you might think. Weather obviously affects outdoor operations that depend on fair weather — for example, events like fairs, festivals, concerts, sporting events or filming.
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  > Destroyed or damaged records
If your business records are destroyed or damaged by a covered peril, this insurance will compensate you for the inability to collect income and for the cost of reproducing the records.
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  > Stand-Alone Prescription
This plan type provides prescription-drug coverage, which generally means the insured person can obtain prescription drugs at a set price of a few dollars, but does not include any other coverage.
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   Ohio Insurance Advisors & Nationwide News:

Hurricane Insurance Claims Paid in Mississippi Approaching $3 Billion Mark

Jackson –Commissioner of Insurance George Dale announced today that insurance companies
have paid out nearly $3 billion in hurricane related claims. Over $1.9 billion of that is for
Hurricane Katrina claims, $845 million in flood insurance claims, with claims paid for Hurricane
Rita nearing $5 million. The approximate total for claims now stands at $2,883,096,865. Those
numbers are expected to rise as the Mississippi Insurance Department (MID) continues to work
with companies and consumers on hurricane related issues. As of today there have been some
384,277 claims filed on Hurricane Katrina and 3,476 claims filed on Hurricane Rita.

Dale daily reiterates his message to insurance companies,”Pay more claims and pay them faster.
We are still taking over 500 to 1,000 calls a week and are devoting the majority of our time in
assisting people with hurricane related issues, and we’ll continue to do so as long as it takes, “ he
said.

MID has recently issued two bulletins to further assist consumers in hurricane affected areas. Read more at doi.state.ms.us

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Did You Know?    
 
 
About property and liability exposures
If you operate a home-based business – either part-time or full-time – you might be uninsured for coverage and not realize it. Many home-based business owners mistakenly believe that their homeowner policy will provide coverage for their business operations. It’s true that your homeowner’s policy may provide a limited amount of coverage for business-related personal property in the home. But it may not provide full coverage for the added property and liability exposures that the home business represents.

 
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