By MATTHEW BULTMAN
JOHNSON NEWSPAPERS
MONDAY, DECEMBER 19, 2011
COLTON — The town of Colton and its insurance company have been paying attention to the child abuse scandals that have dominated headlines nationwide.
On Wednesday, the town added a layer to its municipal insurance policy, hoping for added protection against claims of sexual abuse or molestation of children in town-sponsored programs.
The added supplement was discussed long before news of alleged abuse at Penn State and Syracuse universities broke, Town Supervisor Lawrence C. Patzwald said. But, he admitted, allegations there have raised awareness both for the town and its insurance provider. “Those issues have been issues for years and years,” he said, referring to child sex abuse. “But whenever things like that start to surface, insurance companies get scared about potential exposure.”
The selective abuse or molestation supplement will require the town to adopt more stringent measures to prevent the abuse of children enrolled in town-funded programs.
Leaders will have to create a policy regarding potential abuse, which may include prohibiting one-on-one contact between adults and children. The town also will have to conduct criminal background checks on all volunteers in youth programs.
“Basically they are dotting their i’s and crossing their t’s with regard to youth programs,” Rose & Kiernan Insurance Agency representative Lee Pollock said. “They want to know what you’re doing in terms of child protection because there have been problems.” It is something that youth programs across the country are dealing with, from Boy Scouts to Little League baseball, Mr. Pollock said.
By enacting this protection, the chances the town could be found liable in the event of child abuse allegations are minimal, he said. And even though there have been no abuse accusations in Colton, the move is a defensive measure should any arise.
The addition of the supplement will not cost Colton any extra. However, the unstable financial status of the town’s workers’ compensation provider will.
Public Employer Risk Management Association Inc. artificially lowered its rates years ago, believing workers’ compensation costs would go down, Mr. Pollock said. When that didn’t happen, the provider was left with a huge financial hole to fill.
“Their financial status right now is not good,” Rose & Kiernan representative Jeany Danielson said. The insurance provider has predicted Perma will survive the financial misstep but towns under its coverage will be asked to make up that difference, she said.
For Colton, renewing its contract with the provider will cost $76,561 next year, $12,000 more than it is paying now. But as long as the town’s finances don’t change dramatically, its coverage cost will drop to $74,647 in the second year of the two-year deal.
วันจันทร์ที่ 19 ธันวาคม พ.ศ. 2554
วันพุธที่ 30 พฤศจิกายน พ.ศ. 2554
Child Insurance Plans – The Next Big Objective Of Insurance Agencies
Life Insurance Industry is in full bloom. With wide marketing from Private Players, LIC and Government insistence, people from all class are realizing the importance of taking Life Insurance Cover. Short term, long term, pension and child insurance plans are on boom. People are investing in these plans initiated either by self awareness or by the glam of insurance advertisements.
After the flight of pension plans (sale of pension plans have boomed up dramatically in the past years), the next big thing, most insurance companies targeting on is Child Insurance Plan. Even Life Insurance Corporation of India, which majorily targeted on Money Back and Term Plans, is now moving towards child plans.
Child Insurance Plans began from the Child age 0, so it’s easy for most of the parents to plan the future of their “to-be-born” child. Child Plans – cut only for children are meant to cover the education, higher education and marriage needs. Sum assured or guaranteed returns are the main features of child plan. The main attraction, insurance companies like ICICI Prudential and HDFC insurance companies tap on is the Maturity Benefit Plan wherein the family need not pay further in case of insured parent death during the policy term and the policy continues with sum assured and the bonuses declared.
Tapping on other benefits, which in fact are beneficial, insurance companies are putting up their best. Child insurance plans have some of the basic attractions like cheques when the child reaches a certain grade/class or age and beneficiary concept where beneficiary (in this case the child) is the sole person to receive the benefit. To add to the icing is the Tax benefit. Parent/s who is taking the child policy is eligible for Tax Benefit under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
- Under Section 80C: You can save tax each year as premiums up to Rs. 1, 00,000 are allowed as a deduction from your taxable income.
- Under Section 10 (10D), the benefits you receive from this policy are completely tax-free subject to the exclusions.
Securing ones child future is one of the biggest relief for any parent. With so many insurance companies coming in the child insurance, life insurance field, this should not be a dream too far…
After the flight of pension plans (sale of pension plans have boomed up dramatically in the past years), the next big thing, most insurance companies targeting on is Child Insurance Plan. Even Life Insurance Corporation of India, which majorily targeted on Money Back and Term Plans, is now moving towards child plans.
Child Insurance Plans began from the Child age 0, so it’s easy for most of the parents to plan the future of their “to-be-born” child. Child Plans – cut only for children are meant to cover the education, higher education and marriage needs. Sum assured or guaranteed returns are the main features of child plan. The main attraction, insurance companies like ICICI Prudential and HDFC insurance companies tap on is the Maturity Benefit Plan wherein the family need not pay further in case of insured parent death during the policy term and the policy continues with sum assured and the bonuses declared.
Tapping on other benefits, which in fact are beneficial, insurance companies are putting up their best. Child insurance plans have some of the basic attractions like cheques when the child reaches a certain grade/class or age and beneficiary concept where beneficiary (in this case the child) is the sole person to receive the benefit. To add to the icing is the Tax benefit. Parent/s who is taking the child policy is eligible for Tax Benefit under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
- Under Section 80C: You can save tax each year as premiums up to Rs. 1, 00,000 are allowed as a deduction from your taxable income.
- Under Section 10 (10D), the benefits you receive from this policy are completely tax-free subject to the exclusions.
Securing ones child future is one of the biggest relief for any parent. With so many insurance companies coming in the child insurance, life insurance field, this should not be a dream too far…
วันจันทร์ที่ 12 กันยายน พ.ศ. 2554
Fire safety and insurance tips for college students
Fire safety for college students
The Minnesota Department of Public Safety State Fire Marshal Division (SFM) reminds college students that fire safety needs to be extended to campus life.
In December 2010, an off-campus housing fire took the life of a St. Thomas University student. According to investigators, the fire was caused by a smoldering cigarette, and despite working smoke alarms, the student was unable to escape and perished.
“Almost every residential fire, including the ones that kill and injure college students, is preventable,” says Minnesota State Fire Marshal Jerry Rosendahl. “Often, we send our students off to college without educating them about how to protect themselves from fire.”
Lifesaving behaviors students must know when they begin living on their own include:
* Stay focused when cooking. Most residential fires start in the kitchen when someone walks away from the stove “for just a moment.”
* Use candles responsibly, or not at all. Unattended, candles can turn deadly fast.
* Don’t overload electrical sockets or misuse extension cords. Make sure circuit breakers are working and report frayed or dam-aged wiring.
* Make sure smoking materials are (1) used outside and (2) properly extinguished. Most fatal fires are smoking-related.
* Make sure smoke alarms are properly placed, and keep the batteries fresh.
* Know and practice fire escape routes.
If alcohol is in use, be aware that it may reduce ability to respond to alarms and escape a fire.
Safety tips and other tools are available online at sfm.dps.mn.gov under the public education tab.
Check insurance for college students
Remembering to pack everything a college student will need during the school year is a challenge. But understanding a student’s changing insurance needs is sometimes even harder.
The Minnesota Department of Commerce and the National Association of Insurance Commissioners (NAIC) are teaming up offer consumer-friendly tips to help college students and their parents review and update their insurance policies.
“College students across Minnesota are moving into crowded dorm rooms, buying their books, and starting their classes,” said Commerce Commissioner Mike Rothman. “But in the rush to begin the semester, students shouldn’t forget to review their insur-ance coverage needs.”
Health Insurance: Nearly all young adults up to age 26 can now stay on their parent’s insurance, following the enactment of the Affordable Care Act. Prior to this, many health insurance policies covered dependents who were full-time students only until age 23.
Coverage with the new law extends benefits to adult children regardless of marital status, financial dependency, enrollment in school, or residency.
Before leaving home, students should obtain copies of their relevant insurance cards and know how to obtain referrals and ap-provals (if necessary) before seeking medical treatment.
If the student is insured by a provider network, check to see if he or she will be inside or outside the network service area while away at school. This will make a difference in out-of-pocket payments.
If your student’s health care coverage has ended because of the maximum coverage age, or if coverage is limited by the network service area, another option is a student health insurance plan. In general, these plans have more limited benefits and more exclu-sions than traditional health insurance plans. Many such policies will also exclude routine examinations and injuries sustained while under the influence of alcohol or drugs.
Renters Insurance: Many students bring thousands of dollars worth of personal items with them to school, including electron-ics, textbooks, clothes, furniture, bicycles, and more. With an enrolled student living on or off campus, check with your insurance agent to determine whether your family homeowner’s policy extends to children away at school. If not, consider a renters policy.
Many renters mistakenly believe that a landlord’s insurance policy on an apartment will protect them in case of a disaster. A landlord’s policy doesn’t cover a renter’s personal belongings. A personal renter’s policy will pay to replace stolen or destroyed property with items of the same type and value up to the coverage limit of the policy.
A comprehensive list of a student’s possessions – including purchase prices, model numbers, and serial numbers – will help par-ents and students decide how much renters insurance is needed. It is also a good idea to have a detailed inventory in case of a disas-ter, as it will help parents and students in filing insurance claims following a catastrophe. Make sure to take photos or video of the possessions, and store the inventory in a secure, off-site location.
To learn more about how to take a home inventory, check out these tools and tips on the Minnesota Department of Commerce website. There is also a student-friendly mobile app that consumers can use to quickly and easily complete a home inventory.
Auto Insurance: A significant move away from home can have a big impact on an auto insurance policy. If a student is taking a car to school, check with your local agent about the existing vehicle insurance policy. Ask about the rates for the college’s city and state before deciding whether to keep the student’s car on the family’s auto policy.
In addition, the insurance company should be notified each semester if the student maintains good grades. Maintaining a certain grade point average (GPA) might make your child eligible for a good student discount.
Identity Theft: Identity theft is one of the fastest-growing crimes in the United States, costing victims more than $5 billion annually.
College students are more likely to be hit by identity thieves because they are generally unprepared to protect themselves when the steady stream of requests for personal information begins.
Identity theft insurance cannot protect parents or students from becoming victims of identity theft, and it does not cover direct monetary losses incurred as a result. Instead, this insurance provides coverage for the cost of reclaiming you or your student’s financial identity – such as the costs of making phone calls, making copies, mailing documents, taking time off from work without pay (lost wages), and hiring an attorney.
Check to see if your homeowners policy includes identity theft insurance, and ask your insurance agent if this extends to your student living away from your primary residence. If not, you might be able to purchase an endorsement to amend such coverage.
If a student is renting an apartment, ask if his or her renters insurance covers identity theft, or if that could be added to the policy.
Read more: Chaska Herald - Fire safety and insurance tips for college students
The Minnesota Department of Public Safety State Fire Marshal Division (SFM) reminds college students that fire safety needs to be extended to campus life.
In December 2010, an off-campus housing fire took the life of a St. Thomas University student. According to investigators, the fire was caused by a smoldering cigarette, and despite working smoke alarms, the student was unable to escape and perished.
“Almost every residential fire, including the ones that kill and injure college students, is preventable,” says Minnesota State Fire Marshal Jerry Rosendahl. “Often, we send our students off to college without educating them about how to protect themselves from fire.”
Lifesaving behaviors students must know when they begin living on their own include:
* Stay focused when cooking. Most residential fires start in the kitchen when someone walks away from the stove “for just a moment.”
* Use candles responsibly, or not at all. Unattended, candles can turn deadly fast.
* Don’t overload electrical sockets or misuse extension cords. Make sure circuit breakers are working and report frayed or dam-aged wiring.
* Make sure smoking materials are (1) used outside and (2) properly extinguished. Most fatal fires are smoking-related.
* Make sure smoke alarms are properly placed, and keep the batteries fresh.
* Know and practice fire escape routes.
If alcohol is in use, be aware that it may reduce ability to respond to alarms and escape a fire.
Safety tips and other tools are available online at sfm.dps.mn.gov under the public education tab.
Check insurance for college students
Remembering to pack everything a college student will need during the school year is a challenge. But understanding a student’s changing insurance needs is sometimes even harder.
The Minnesota Department of Commerce and the National Association of Insurance Commissioners (NAIC) are teaming up offer consumer-friendly tips to help college students and their parents review and update their insurance policies.
“College students across Minnesota are moving into crowded dorm rooms, buying their books, and starting their classes,” said Commerce Commissioner Mike Rothman. “But in the rush to begin the semester, students shouldn’t forget to review their insur-ance coverage needs.”
Health Insurance: Nearly all young adults up to age 26 can now stay on their parent’s insurance, following the enactment of the Affordable Care Act. Prior to this, many health insurance policies covered dependents who were full-time students only until age 23.
Coverage with the new law extends benefits to adult children regardless of marital status, financial dependency, enrollment in school, or residency.
Before leaving home, students should obtain copies of their relevant insurance cards and know how to obtain referrals and ap-provals (if necessary) before seeking medical treatment.
If the student is insured by a provider network, check to see if he or she will be inside or outside the network service area while away at school. This will make a difference in out-of-pocket payments.
If your student’s health care coverage has ended because of the maximum coverage age, or if coverage is limited by the network service area, another option is a student health insurance plan. In general, these plans have more limited benefits and more exclu-sions than traditional health insurance plans. Many such policies will also exclude routine examinations and injuries sustained while under the influence of alcohol or drugs.
Renters Insurance: Many students bring thousands of dollars worth of personal items with them to school, including electron-ics, textbooks, clothes, furniture, bicycles, and more. With an enrolled student living on or off campus, check with your insurance agent to determine whether your family homeowner’s policy extends to children away at school. If not, consider a renters policy.
Many renters mistakenly believe that a landlord’s insurance policy on an apartment will protect them in case of a disaster. A landlord’s policy doesn’t cover a renter’s personal belongings. A personal renter’s policy will pay to replace stolen or destroyed property with items of the same type and value up to the coverage limit of the policy.
A comprehensive list of a student’s possessions – including purchase prices, model numbers, and serial numbers – will help par-ents and students decide how much renters insurance is needed. It is also a good idea to have a detailed inventory in case of a disas-ter, as it will help parents and students in filing insurance claims following a catastrophe. Make sure to take photos or video of the possessions, and store the inventory in a secure, off-site location.
To learn more about how to take a home inventory, check out these tools and tips on the Minnesota Department of Commerce website. There is also a student-friendly mobile app that consumers can use to quickly and easily complete a home inventory.
Auto Insurance: A significant move away from home can have a big impact on an auto insurance policy. If a student is taking a car to school, check with your local agent about the existing vehicle insurance policy. Ask about the rates for the college’s city and state before deciding whether to keep the student’s car on the family’s auto policy.
In addition, the insurance company should be notified each semester if the student maintains good grades. Maintaining a certain grade point average (GPA) might make your child eligible for a good student discount.
Identity Theft: Identity theft is one of the fastest-growing crimes in the United States, costing victims more than $5 billion annually.
College students are more likely to be hit by identity thieves because they are generally unprepared to protect themselves when the steady stream of requests for personal information begins.
Identity theft insurance cannot protect parents or students from becoming victims of identity theft, and it does not cover direct monetary losses incurred as a result. Instead, this insurance provides coverage for the cost of reclaiming you or your student’s financial identity – such as the costs of making phone calls, making copies, mailing documents, taking time off from work without pay (lost wages), and hiring an attorney.
Check to see if your homeowners policy includes identity theft insurance, and ask your insurance agent if this extends to your student living away from your primary residence. If not, you might be able to purchase an endorsement to amend such coverage.
If a student is renting an apartment, ask if his or her renters insurance covers identity theft, or if that could be added to the policy.
Read more: Chaska Herald - Fire safety and insurance tips for college students
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