Contractors need professional liability insurance (also known as Errors and Omissions Insurance) to protect themselves from claims related to mistakes, negligence, or incomplete work in their professional services. This type of insurance can be crucial for several reasons and may be relatively inexpensive to add to your General Liability Policy: Mistakes and Oversights: Even the […]
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What Homeowners Need to Know In recent years, insurance carriers have been tightening their roof guidelines, making it more challenging for homeowners to get coverage for roof-related claims. This shift is driven by a combination of factors, including increased storm damage, rising repair costs, and fraudulent claims. Why the Change? The primary reason for the […]
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When the mercury dips and the cold weather sets in, our homes become our sanctuaries against the chill. However, to ensure your house remains a warm and safe refuge, some preparations are necessary. Here’s a rundown of essential tasks and items to winter-proof your home. Seal Gaps and Cracks One of the primary culprits of […]
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CORPORATE TRANSPARENCY ACT (CTA) –Deadline of 1-1-25 is fast approaching! The purpose is to detect and combat money laundering and terrorist finance along with tracking the money. It is meant to safeguard our national security and US Financial System. The Act came into effect in January 2024 and businesses are expected to file a Beneficial […]
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Maryland Health and Medicare Open Enrollment for 2024: What You Need to Know. As the leaves change and the year draws to a close, it’s time to think about your health coverage for the upcoming year. Open Enrollment for 2024 is just around the corner, and it’s crucial to be prepared. Here’s everything you need […]
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Dwelling or Building Property Coverage Shown on the policy as Coverage A: Depending on your condo association’s master policy, you might need this to cover the interior of your unit, including fixtures, appliances, and any improvements you’ve made Do I have improvements and betterments that need to be insured? Do I have coverage for water/sewer/backup? […]
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Employee benefits can help attract and retain employees, and some studies show that employees are more likely to stay with an employer because of their benefits: Studies found that 75% of employees are more likely to stay with an employer due to benefits package provided Are you a small company? Do you have employees saying […]
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Notices required under the Patient Protection and Affordable Care Act of March 23, 2010 (PPACA) and the required ERISA Notices. In disclosing these documents to your employees, the Department of Labor has set forth certain regulations regarding these disclosures. Disclosure rules are summarized in the attached “Distributing Your Notices” document. IMPORTANT PATIENT PROTECTION AND AFFORDABLE […]
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We are asked to provide budget increases for 2024 on the insurance for condominiums and homeowners associations (HOA). Below are samples of increases in property value and rates for 2024. Sample Condo increases reflect 15%, 31%, 20%, 20%, 15%, 11%, 13%,14% and 22%. Sample HOA increases reflect 15%, 14%, 11%, 54%, 01%, 53%, 7%, 14%, […]
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Updated 6-12-24. New laws were passed by the Maryland Legislature during the recent session that will affect Maryland drivers. These changes are scheduled to take effect on July 1, 2024. Virginia will require all vehicles registered in the state to have auto insurance. Approximately 34,000 Maryland residents currently register their vehicles in Virginia and some […]
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