Last night, just after 10pm, a driver suspected of DUI crashed into a client’s business. This is a physical therapy office. Video from the scene showed a black SUV completely inside the building after crashing through the building’s exterior wall (see attached pic). Luckily nobody was hurt and we have the insurance carrier handling the claim now. Property loss and Business Income/Interruption coverage in effect until business is up and running again. On the bright side, this all happened during off hours.
Effective 8/9, I finalized insurance for this Condo Homeowners Association in Harbor City. This is an 18-unit, 25,850 total square feet dual building property. Coverage’s include Commercial Property insurance for the structures, General Liability, and Director’s & Officer’s Liability to help protect the association board. The expiring policy didn’t include the D&O. I was able to add this coverage and still save premium dollars compared to the renewal terms the association received from the incumbent broker.
A construction worker is rescued from a giant fire at AIG campus in Houston, Texas, on Tuesday. The amateur footage, filmed by onlooker Karen Jones, shows a man trapped on a top-floor balcony of an apartment complex that had been under construction. He manages to escape as fire destroys the building. No injuries were reported as a result of the blaze. It is still unclear what caused the fire. You’ll get some sweaty palms watching this one! Especially when the construction worker swings down to the lower level balcony!
A two-alarm commercial building fire burned through La Bodega Market on 7th and Magnolia in Long Beach on Monday night. Long Beach Fire Department received the first report of a fire at 9:27PM. According to the Long Beach Fire Department, the building was heavy with smoke and fire upon first arrival and a second alarm was called within a minute. For the full story, read about it HERE in the Long Beach Post.
Here’s some video from the Long Beach Post of the fire:
Have a small business in Long Beach? When’s the last time you reviewed your business insurance policies to make sure your coverage is sufficient and accurate? Make sure you’re reviewing your policies at least annually with your insurance agent or broker.
Beyond insurance, you might want to consider establishing a fire prevention plan or a business continuity and recovery plan. If you need help in any of these areas, I have some resources that I can help you with. You’re welcome to contact me anytime to discuss.
I came across this fierce 30 second video on Youtube today of a lightning bolt striking the shore of a beach about a hundred or so yards from a hotel balcony where some guy was filming. Check it out (some cursing included so beware)
The force and power are so crazy it knocked the guy back a little bit!
Living in Southern California, we don’t see a lot of intense thunder and lightning, but you should learn to identify the early signs of an oncoming thunder and lightning storm.
Typically you’ll see towering clouds in the shape of a cauliflower, dark sky, distant rumbles of thunder and flashes of lightning. When a storm is on the verge of striking your area, you need to take cover to get out of harm’s way.
- Seek shelter in an enclosed building, if possible.
- If you are in a car, stay inside and keep the windows securely rolled up.
- Do not use a small shed, pavilion or lean-to as shelter; they do not provide enough protection.
- Stay several feet away from open windows, sinks, toilets, tubs, showers, electric boxes, outlets and appliances during a lightning storm. Lightning bolts can flow through these items, “jump” to you and give you a jolt.
- Do not use a landline telephone during a storm. Opt for a cellular or cordless phone, which is not connected to the building’s wiring.
If you are caught outside in a lightning storm:
- If your skin starts to tingle or your hair stands up, lightning may be about to strike. Crouch to the ground on the balls of your feet and place your feet close together. Then, place your hands on your knees and lower your head. Try to get as close to the ground as possible without placing your hands or knees on the ground.
- Avoid seeking shelter under trees, near metal fences, pipes or tall and long objects.
- If you are swimming, boating or fishing, seek shelter on land immediately.
- If you are boating and cannot get to shore before the storm hits, crouch your body down in the middle of the boat, as low as you can get.
Next time you’re in the path of a thunderstorm, you can stay cool knowing Jim Kinmartin taught you everything you need to know about dealing with it ;).
Planning is important when it comes to preparing for storms, and that includes having the proper home or business insurance. Contact your broker or me to learn more about insurance solutions for your home, business and life.
Working as a broker, I work with a lot of different carriers on behalf of my clients to place their business insurance. One of the major carriers that I work with is The Hartford, an AM Best A (Excellent) XV ($2B or Greater Financial Size) rated carrier. The Hartford’s a great carrier to work with if you have a small business.
Interested in what they have to offer? Contact me anytime to discuss. Maybe we can find you something competitive backed by great coverage.
Here’s a new video featuring their focus on small businesses insurance.
Pay close attention if you own an apartment building or dwelling.
The law is called the “Carbon Monoxide Poisoning Prevention Act”, California Senate Bill 183. It requires building owners to install and maintain carbon monoxide (“CO”) detectors in all dwelling units before January 1, 2013. Such devices must be designed to detect carbon monoxide and to sound an alarm. They must be installed outside each sleeping area or bedroom and each level of every unit and would require that the devices be operable at the time the tenant takes possession of the unit.
Senate Bill 183 requires a tenant to notify the landlord if the tenant becomes aware that the device is inoperable or deficient and would require the landlord to correct the reported inoperability or deficiency. A landlord is not in violation if he/she has not received the notification from the tenant.
The new law does not eliminate the requirement for smoke detectors; that is, both smoke detection and carbon monoxide detection devices are required.
Information is available on the internet regarding the new law, and you can see the actual law HERE.
If you haven’t already done so, it is suggested that you install carbon monoxide detectors as soon as possible to your building if you own one. These detectors are readily available at many local retail outlets and internet sellers.
In my last blog post, I shared information on the water damage loss a client of mine suffered the week of the 4th of July.
Water damage claims can be tricky. Here’s what you need to understand about water damage when it comes to insurance coverage.
When your building and/or its contents have suffered water damage, it’s never a good situation. It’s more prone to happen if you have not been properly maintaining your building. Probably the two biggest characteristics of the building that apply to water damage claims are the roof and plumbing. If you have ever purchased property insurance for a building you own, or a space you lease, you are asked what year the building was built. If it’s over 25 years in age, insurance carriers typically want to know when the last renovation or update was made on the roof and plumbing, as it can affect your contents and the likelihood of water damage.
The property insurance policy defines water damage as “accidental discharge or leakage of water or steam as the direct result of the breaking or cracking of any part of a system or appliance containing water or steam.”
What could this mean for you? Assume for a minute that the gutters on your building are rusty and water is not being properly diverted off your roof. A rainstorm pushes water through the weakened area into your roof. Water leaks under the eaves, into your walls and starts to pool. And because it was over a weekend, your desk is now an island in a small lake. This damage is not covered by your insurance because it is due to improper maintenance, not a sudden and unforeseen event.
You should also know that flood, including the “accumulation of surface water, waves, tides, tidal waves, overflow of streams or any other bodies of water, or their spray, all whether driven by wind or not” are NOT covered under a property insurance policy. You must have a separate flood insurance policy in place to protect your business from these perils.
A general rule of thumb is water rising from the ground up is generally not covered by property insurance, unless you have your policy endorsed to include sewer or drain backup.
If in doubt about whether you’re covered or not for certain aspects of water damage, contact your agent or broker to discuss.