From Harvey to Irma, we have all seen the harsh effects natural disasters such as hurricanes can have. Whether it is a large natural disaster or some heavy rain, it is important to make sure you know how to report a claim in the event that your home or business experiences flooding.
Here is are some helpful things to keep in mind when filing a flood insurance claim courtesy of FEMA.
Reporting Your Loss
- Report the loss to your insurance agent as soon as possible.
- Within 24-48 hours, you can expect a call from your adjuster to make an appointment.
- Tip: Take a photograph of the water-damaged items and then move items outside to prevent mold.
Preparing for the adjuster’s visit
Be ready with:
- Your policy number, insurance company info, and the best way to be reached.
- Lots of photos of your damaged property.
- Documents related to damaged property (i.e., contractors’ estimates, receipts).
- Samples or swatches of carpeting, wallpaper, furniture upholstery, and window treatments.
Once you meet with the adjuster it’s time to review, sign, and send the Proof of Loss to your insurance company.
Request for additional payment: If you discover additional damage after filing your claim, or repairs cost more than estimated, you can file for additional payment. Contact your adjuster or insurance agent to start the process.
Payment of Claims: By law, claim payment checks for structures must be made out in the mortgage holder’s name. Contact your mortgage holder for more information.
At AssuredPartners, it is our goal to make sure you are prepared and protected in the event of a flood. When a claim is reported to us, our typical turnaround time is 48 hours. However, please keep in mind that hurricanes and other storms may result in a high volume of claims causing the turnaround time to be a bit longer. For flood questions, or if you would like a review of your flood insurance policy, visit AssuredPartners Property and Casualty.
Beginning July 23, 2017, it will be against the law for Washington drivers to use hand-held cell phones while they are driving. This includes all electronic devices, even tablets, laptops and video games. Tickets for driving while using hand-held electronics will go on your record and be reported to your insurance provider.
CURRENT STATUS OF THE EMPLOYER MANDATE
At this time, the Affordable Care Act (ACA), including its employer mandate rules, remains federal law. Proposed legislation to repeal and replace the ACA is currently making its way through the federal legislative process. Both the American Health Care Act (AHCA), released in May, and the recent Better Care Reconciliation Act (BCRA), released on Thursday June 22, propose to reduce the penalties for failing to comply with the ACA’s employer mandate to zero beginning in 2016, effectively repealing the ACA’s employer mandate.
The ACA’s future is still uncertain. Since neither the AHCA or BCRA have been signed into law, the ACA’s employer mandate, and its penalty provisions, remain intact. However, because the employer mandate has been criticized as burdensome for employers and an impediment to business growth, it seems likely that its repeal will be part of any Republican plan to repeal and replace the ACA.
By Caroline Smith ,
As the American Health Care Act (AHCA) has not been signed into law yet, the Affordable Care Act (ACA) is still in effect and the IRS is currently issuing notices to large employers to disclose whether they complied with the ACA reporting duties or not.
Large employer ACA reporting was required for 2015 and 2016 (even if transition relief was applied for 2015). Penalties can be up to $500 per each 2015 Form 1095-C statement ($250 for not providing the form to the employee and $250 for not filing with the IRS) and up to $3 million total for an annual penalty liability.
IRS notices referred to as "Request for Employer Reporting of Offers of Health Insurance Coverage (Forms 1094-C and 1095-C)" (aka Letter 5699) are being distributed to employers that failed to provide Form 1095-C and file copies with Form 1094-C regarding reporting for 2015 or 2016. Employers that receive this will have only 30 days to complete and return the form, which contains the following options:
- Employer already complied with reporting duties;
- Employer did not comply but encloses required forms with return letter;
- Employer will comply with reporting duties within ninety days (or later, if further explained in the form);
- Employer was not an Applicable Large Employer for the year in question; or
- Other (requiring a statement explaining why required returns were not filed, and any actions planned to be taken).
The letter also states, "If you are required to file information returns under IRC Section 6056, failure to comply may result in the assessment of a penalty under IRC Section 6721 for a failure to file information returns."
The IRS offers good faith relief from filing penalties for timely filed forms if they are incomplete or incorrect for 2015 or 2016. This relief is only available upon showing "reasonable cause," which is narrowly interpreted (ex., due to fire, flood, or major illness).
This video explains the coverage gap created when a customer drives for a ridesharing company and how Safeco® RideSharing Coverage™ works to protect ridesharing drivers
The failure rate for new businesses alone is enough to give entrepreneurs pause. But these Eastside small-business owners beat the odds and remained in business for decades. How did they do it? Here are their secrets to success.
On Monday evening House Republicans released the “American Health Care Act,” draft legislation intended to repeal and replace Obamacare (the ACA). Committee mark-ups are scheduled for March 8th and although revisions may occur, it is expected to advance to the House and Senate before eventually being presented to President Trump for signature, possibly as early as April.
Have you ever heard of an employer allowing pets at work? According to the Society of Human Resource Management, seven percent of employers now allow pets to come to work with their owners. If you are contemplating implementing a pet policy in your office, it is important to weigh the pros and cons. Read the whole post here