We wanted to help you understand the different insurance and why the broader Fidelity Bond coverage and Cyber Liability and Data Breach coverage should be considered. I have summarized the following: Fidelity Bond with all agreements extend to cover False Pretense, Phishing, Social Engineering, Hacking of bank account and Wire Transfer Fraud. Most policies only […]
Read MoreMaryland Condominium Act and your Homeowners Condo Policy
Please note effective October 1, 2020 the condominium unit owner’s deductible responsibility will change per the Maryland Condominium Act. The new law increases the unit owner’s deductible responsibility from $5,000 to $10,000, if a loss originates in your unit. If the loss originates within your unit, payment of the Association’s deductible up to $10,000 will […]
Read MoreInsurance Glossary
A Abandonment Surrender to the insurer of all interest in insured property after an event insured against has occurred. Not permitted under most property insurance contracts. Applies to property, or physical dam- age coverages, in Fire, Marine and Auto Insurance. Abandonment condition A condition often contained in property insurance policies that states that the insured […]
Read MoreMaryland Condominium Act and your Master Policy Deductible- Change effective 10-1-20
How does a condominium board decide to increase to the $10,000 deductible? You have the option to change your deductible effective 10-1-20. With the new legislation, if a loss originates in a unit, that unit owner, is responsible for the first 10,000 of the master deductible. Without any changes, the unit owner would only have […]
Read MoreMaryland Individual Health Insurance Special Enrollment Period SEP extended to July 15th
To help uninsured members of our community get the care they need during this significant public health event, the Special enrollment Period (SEP) has been extended. For Maryland and Northern Virginia, extended to July 15, 2020 For District of Columbia, still maintains a September 15, 2020 enrollment period For Group, it only ran thru June […]
Read MoreNotice Regarding any Independent Contractor in California- Workers Compensation Audit changes effective 7-1-20
California Assembly Bill 5 (also known as CA AB 5) was signed into law in September 2019, implementing a new test all employers must use to determine if a worker is an employee or an independent contractor under the California Labor Code. The law may impact who you cover under your workers’ compensation policy. While […]
Read MorePersonal auto insurance companies are offering refunds or premiums reductions during COVID-19 shutdown!
We are all home and not driving our cars. The shelter in place orders and social distancing have resulted in a notable decrease in the average miles driven per day. This results in a decline in automobile claims. These savings for the Personal Auto insurance carriers will be shared with their policyholders. To get relief […]
Read MoreLet’s Keep America Healthy!
COVID-19 – A Message from Connie Phillips Insurance News about a deadly virus that stared in Wuhan, China in December, now called 2019 novel coronavirus, or COVID-19. As the number of cases rises, it’s understandable if you’re wondering how likely it is that you or a loved one will become ill. Everyone is quite likely, […]
Read MoreAnswering your insurance questions regarding COVID-19
In an effort to answer some of your insurance questions, I have shown below how your insurance coverages may respond. Unfortunately, most policies have specific exclusions listed on the policy that exclude coverage for this coronavirus pandemic. There are informative links regarding Workers Compensation, and your state unemployment websites at the end of this email. […]
Read MoreWorkplace Violence – The Second leading cause of work-site deaths in the United States
According to the Occupational Health and Safety Administration (OSHA), each year nearly 2 million American workers are victims of workplace violence. Acts of violence and other injuries is currently the second-leading cause of fatal occupational injuries in the United States. Connie Phillips Insurance would like to provide you more information about workplace violence and how […]
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