In short, yes. Having a flood insurance policy is imperative! Flooding is the most common natural disaster in the United States, and Michigan is no exception. The Federal Emergency Management Agency (FEMA) estimates that there is a 26% chance of…
What is Medical Loss Ratio? Medical Loss Ratio (MLR) is the percentage of premiums an insurance company spends on member care, claims, and administrative expenses that improve healthcare quality. What is the Medical Loss Rebate? The Patient Protection and Affordable…
Cybercriminals create new advanced social engineering tactics and target small and medium-sized businesses. For example, the FBI estimates that cybercriminals stole more than $28 billion through email fraud from 2016-2020, with an average loss per incident of more than $150,000. Social engineering fraud involves…
As a homeowner, it’s important to have a solid understanding of your home insurance policy. One aspect that can be particularly confusing is the difference between insurance-to-value replacement cost and market value. In this article, we’ll define these terms and…
When your homeowner’s insurance policy renews, there are a few factors to keep in mind about the replacement cost of your home. First, you may see an increase in your replacement cost from your carrier this year. So, we are…
Most of us are aware that we should not openly share our passwords with anyone and should avoid reusing the same password for multiple accounts. There are also precautions like having a strong password, using an email address as your…
There is more to your home than just a roof over your head. It’s the place you raise a family and make memories. There are also threats and dangers in and around your home, placing you vulnerable if the unexpected…
As you may be aware, changes to the Michigan No-Fault law came into effect in July 2020, which have led to additional requests from auto insurance carriers regarding Personal Injury Protection (PIP). These changes may have significant implications for Michigan…
Businesses that have staff, handle inventory, process payments and use digital tools face risks of internal and external criminal activity, such as fraud, theft, and employee dishonesty. Business owners may believe they only need basic commercial insurance coverage, but it’s…
Material misrepresentation in insurance happens, even if it’s accidental. It’s important to properly document and disclose accurate facts when obtaining or renewing insurance policies. Otherwise, you could be in danger of material misrepresentation, leading to possible issues if you ever…