Insurance funds losses; it transfers risk from your company to the insurance company for a fee – premium. Deductibles are used to reduce the number of claims by having the business pay small amounts and only reporting larger issues. The order in which claims are funded is: Deductible, liability limits, and then company assets — and sometimes personal assets. Your company needs high liability limits to protect company assets.
Claims exceeding $1 million in liability are infrequent, but not rare. Umbrella insurance covers above all other liability insurance in one million dollar layers. High liability limits become affordable this way. Business nightmares, such as the $3 million cup of coffee, the truck catching fire under a railroad bridge, or your vehicle colliding with a school bus, unfortunately do occur. A million or two is not sufficient coverage for most operations.
Asbestos and tobacco companies produced legal products for years before lawsuits started as the result of long-term exposure, and these very successful companies were brought to the brink of extinction. These companies kept tens of millions in umbrella layers. How much is enough?
Commercial Liability insurance in Watsonville, CA covers injuries to other people and damage to their property caused by your company, your employees, or you. The cause of loss might be vehicle, products, premises, operations, liable, slander, poor advice, or even aviation related. The amount of liability and types of insurance depends on your company’s exposure to risks. Most companies face fleet risks, premises-operations risks, and employee injury risks; some add professional liability risks, aviation risks, common carrier and garage liability risks.
Insurance companies recognize these typical risk scenarios and respond by offering Business Automobile, Truckers, Garage, General, Aviation and Professional Liability policies.
Purchasing sufficient liability limits for disastrous claims is costly when purchased one liability risk at a time. In fact, most companies simply could not afford purchasing insurance this way. Insurance companies offer Umbrella coverage to serve this need. The company proscribes underlying, or first dollar coverage limits, over which umbrellas pay claims settling for more, or in excess, of these policies. Since these claims are infrequent, premiums are affordable; and each added million dollar layer decreases in cost.
In addition, most umbrella forms add liability coverage by insuring more risks than the underlying policies. A relatively modest – $1,000 to $10,000 – deductible is required, but then the umbrella limits cover unscheduled liabilities. So, with an Umbrella policy, the order in which claims are paid is: deductible or underlying liability limits, umbrella limits, and then company assets.
How much is enough combined liability limit? How well can you predict the future of litigation? Products, operations, and vehicle claims in excess of $3 million are not rare. The cost effective answer depends on the amount of assets you’re protecting, the cost of the coverage, company profit from which to expense the premium, your risk tolerance, and the availability of Umbrella coverage.
Three more factors are worth considering: Products claims might take years to discover. Claim inflation requires high limits at the time the claim is paid. Large liability claims take time to settle. Claim inflation is rampant. Even though an event occurs today, you may be settling at the going rate three years from now. Million dollar claims were rare 20 years ago; not so much now. Courts have been chipping away at the corporate liability shield for smaller businesses. Personal assets might be at risk. Now consider how far that erosion of corporate protection might progress by the time you get your day in court.
Umbrella liability limits should be high enough that business assets are not at risk. Business survivability is at risk with a too low limit. Your current limits can be assessed and reviewed by your broker and/or attorney for adequacy.
Scurich Insurance, Watsonville CA
320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666
Email:[email protected]
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From http://watsonville.patch.com
On Wednesday’s episode of “Restaurant: Impossible” featuring Ristorante Barolo in Aptos, owner Cristina Locke said she often feels like she takes “one step forward and five steps back.”
With Food Network’s help, the progress is now moving forward, but not quite at the pace that Locke may have hoped.
FoodNetwork.com caught up with the folks at Ristorante Barolo and shared this update on their site:
In Aptos, Calif., Robert and the “Restaurant: Impossible” team faced the daunting task of turning things around at Ristorante Barolo. Owners Giovanni Guerisoli and Cristina Locke struggled with the changing economy as well as family health problems, and could barely keep their 10-year-old business afloat. We checked in with the couple to see how things were going afterRestaurant: Impossible.
Three months later, sales at Ristorante Barolo have increased by 37 percent.
“The new decor and also all the publicity because of the show have brought new customers,” said Cristina. “People watch and really like ‘Restaurant: Impossible.'”
With Atilio in charge of the kitchen and Giovanni running the front of house, Cristina is finally able to spend more time with her children.
“Atilio is doing a great job,” she said.
Despite her best efforts to reduce stress, Cristina recently suffered a stroke and is still recovering. Because of the stroke, she was unable to finish cleaning out her office. When she recovers, she plans to ask Jessica to help her finish the task.
Giovanni’s health has remained a challenge for him, but he continues to run the front of the restaurant.
“Giovanni is doing the best he can while still dealing with his health issues,” Locke said.
He never sold his collectibles at auction and continues to buy more.
“Doing the show was an amazing gift,” Cristina said. “I will be forever grateful for what Robert and the whole crew did for the restaurant and for my family.”
Scurich Insurance
320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666
Email:[email protected]
Read more
From http://www.santacruzsentinel.com
EDITOR’S NOTE: Each week the Sentinel publishes a list of the Most Wanted’ criminals in the county as determined by local law enforcement. Agencies participating include the four city police departments, the Sheriff’s Office, California Highway Patrol, District Attorney’s Office and State Parks. The information is provided by the Sheriff’s Office based on active investigations and/or arrest warrants. If you have information on anyone listed below, law enforcement asks you to call 911.
Amanda Niemczyk
Wanted for: Felony theft with prior convictions for theft and possession of a controlled substance
Age: 27
Description: 5-foot-3, 160 pounds, brown hair and brown eyes
Residence: Santa Cruz
Details: Niemczyk was arrested on suspicion of felony theft with prior convictions of theft and being in possession of a controlled substance. She failed to comply with the terms of her probation and a warrant has been issued for her arrest.
Agency: Santa Cruz Sheriff’s Office
Hernan Coto
Wanted for: Terrorist threats and violation of a protective order
Age: 32
Description: 5-foot-7, 120 pounds, black hair and brown eyes
Residence: Unknown
Details: Coto is wanted for making terrorist threats and violating a protective order.
Agency: Watsonville Police Department
Nancy Morales
Wanted for: Resisting arrest and driving under the influence
Age: 21
Description: 5-foot-6,
170 pounds, brown hair and brown eyes
Residence: Watsonville
Details: Morales was arrested on suspicion of driving under the influence of drugs or alcohol and resisting arrest. She failed to appear in court for the charges and a warrant has been issued for her arrest.
Agency: Watsonville Police Department
Philip Willis
WANTED FOR: Parole violation and stolen property
Age: 31
Description: 6-foot-1, 200 pounds, brown hair and brown eyes.
Residence: Unknown; frequents Sheldon Street, Santa Cruz
Details: Willis has violated his parole terms and failed to show up for scheduled court appearance. He has prior arrests for vehicle thefts, possession of stolen property, narcotics violations and resisting arrest.
Agency: Santa Cruz Police Department
Diana Quiroz
Wanted for: Identity theft, theft of an ATM card and multiple thefts
Age: 30
Description: 5-foot-5, 130 pounds, black hair and brown eyes
Residence: Santa Cruz
Details: Quiroz was arrested on suspicion of identity theft, theft of an ATM cards and multiple other thefts. She failed to appear in court for the charges and a warrant has been issued for her arrest.
Agency: Santa Cruz Sheriff’s Office
Scurich Insurance
320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666
Email:[email protected]
Read more
Are you safe outside this summer?
Think about it: summertime usually revolves around things like grilling, fireworks, camping, and lazy afternoons in the hot sun.
What else does it mean?
Burns from those grills, firework explosions, tick bites…you see where we’re going here.
With the cost of health care steadily going up, it’s become ever more important to lower your risk for accidents and other health issues.
And don’t worry: this doesn’t mean you have to avoid all the good stuff this summer. Here are some easy ways to prevent these summer health issues…
Let’s think about grilling for a minute. There’s nothing better than burgers and hotdogs cooked on the grill, right?
But, grills are more dangerous than you might think. According to Consumer Reports, over 5,000 people went to the emergency room in 2007 because of grill related injuries (source:http://blogs.consumerreports.org/home/2008/07/grilling-safety.html).
What can you do to avoid that costly trip?
- Never grill in an enclosed area like the garage. Always pull your grill into an open area.
- If you’re cooking with charcoal, never spray the grill with lighter fluid after the fire has been lit. Flames can often follow the fluid back to the container that’s in your hand.
- Keep the grease pan empty. Grease easily catches on fire, and can cause flare-ups.
Mosquitoes, ticks, horseflies, bees…now that it’s summer all of nature is out in full force.
And, don’t underestimate these little bugs; according to MSNBC, they send over 500,000 of us to the emergency room each year with potentially fatal allergic reactions (source:http://www.msnbc.msn.com/id/19979406/).
So, how can you have fun outside without getting eaten alive?
- Think bug spray. If you’re uncomfortable with the chemicals used in traditional bug spray (like OFF), there are several organic brands that use natural ingredients, like EcoSmart (link:http://www.ecosmart.com/).
- MSNBC suggests spreading a 3 ft. layer of wood chips between your yard and the woods. Ticks can’t cross the chips, so this will keep them out of your yard.
- Also, make sure there is no standing water in your yard. And, this includes your gutters. Standing water is a breeding ground for mosquitoes.
Scurich Insurance
320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666
Email:[email protected]
Read more
From http://dui.drivinglaws.org
In California, if you get pulled over for a DUI (driving under the influence) and the officer asks you to take a blood, breath, or urine test, do you have to take one? What happens if you refuse?
Implied Consent
California law requires you to take a breath or blood test if you are arrested for a DUI. California’s “implied consent” law says that if you are lawfully arrested by an officer who has probable cause to believe that you have been driving under the influence, then you consent to taking a chemical test of your blood, breath, or urine for the purpose of determining your blood alcohol content (BAC). The test must be taken at the time of your arrest, and the officer should give you the choice between a blood or breath test. If neither blood nor breath tests are available, then you have to take a urine test. The law also gives a special exemption for people taking anticoagulants for a heart condition or who have hemophilia – they don’t have to take the blood test.
Additionally, California’s implied consent law says that you consent to taking a preliminary breath test, even if you have not been arrested. This works like a field sobriety test. The officer will use the results to establish probable cause that you were driving under the influence. You do not have to take this preliminary test, and the officer should say so. Refusing it, however, probably won’t work in your favor if the officer has some other reason to think you had been drinking. Based on that other reason, the officer could still arrest you and then you will be required to take a test under the law described in the paragraph above.
If you are arrested, the officer should tell you that if you refuse to take the test, you will be fined, will lose your license, and that you could be sent to jail if you are later convicted of a DUI. Also, the officer shall advise you that you don’t have the right to speak to an attorney about whether you should take the test and in fact your refusal can be used against you in a court of law. You can read California’s implied consent law in the California Vehicle Code Section 23612.
Refusing to Take the Test
In California, the penalties for refusing to take a blood, breath, or urine test begin with a one-year suspension of your license. You could lose your license for two years if this is your second refusal or if you already had a reckless-driving or DUI conviction within the last ten years. The penalty jumps to a three-year suspension for your third refusal or if you have had more than one reckless-driving or DUI conviction within ten years. The fine is the same – $125 – whether this is your first, second, or third refusal.
The penalties for refusing to submit to a chemical test are found in the California Vehicle Code Sections 13353 and 14905/
Scurich Insurance can help you with keeping costs down after a DUI.
Scurich Insurance
320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666
Email:[email protected]
Read more
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Scurich Insurance
320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666
Email:[email protected]
Read more
