It is entirely possible that your bicycles may be even more valuable than your car. Yet, it is common for bikes to be an oversight when reviewing your homeowners insurance coverage and therefore uninsured. More specifically, on many common homeowner's policies, personal property away from home is limited to 10% of the personal property limit on the homeowners policy. Arguably even more important, the homeowners deductible may be at or near the replacement cost of the bike and therefore result in little to no actual coverage. For improved coverage while away from home, bicycles should be specifically scheduled as valuable articles on the homeowners policy. This will cover the bikes from "mysterious disappearance" which is important because upwards of 1.5 million bikes are stolen in the United States every year.  Also, it is typically possible to have a significantly lower deductible for this coverage as compared to the master homeowners policy deductible. Reach out to your TriMountain Corporation representative to see if valuable articles coverage makes sense for your bikes.
 

As wildfires continue to grow in Arizona, Colorado, and New Mexico we wanted to offer useful information about what you can do to prepare for natural disasters. Being prepared before a disaster strikes can help keep you and your property safe. In part, due to the current COVID – 19 crisis, evacuation shelters are expected to reach capacity rapidly.  Social distancing guidelines are also likely to impact shelter capacities.

Floods

A flood and the resulting water damage to your home, office or manufacturing facility can happen at any time.  History tells us that it is very difficult to determine where or when a flood is likely to occur.  They can strike at any time.   Purchasing flood insurance is one strategy should discuss with your agent or broker. Below are other ways to manage and mitigate flood or water related damages.

• First, determine in you are in a flood zone
• Elevate or move valuable personal property in basements or below grade
• Check the integrity of your roof
• Make sure gutters and downspouts are clear of debris and fully functioning
• Remove potential hazards from your property such as dead trees or limbs

Wildfires

Depending on your location, you may be at a higher risk for wildfires. Below is a checklist to minimize the risk of a wildfire damages to your home or business:

• Clear the perimeter of your home or business of excess vegetation
• Keep waste in bags and do not burn on your premises
• Trim dead tree limbs that overhang the roof
• Remove vines from sides of your structures
• Store stacked wood at least 100 feet away from premises

General Recommendations

Below are few ways to be ready for natural disasters:

• Keep important documents in a safe easily accessible place
• Make an inventory of all personal property within your home or business.
• Ask your agent or broker to retain a copy of the inventory - update annually
• Pre-pack an emergency "to go" bag with common necessities
• Set up a specific meeting place for family members in the event you are unexpectedly separated
• Monitor news and local weather notifications for evacuation notices or alerts
• Evacuate when told to do so – do not wait until the last minute

For more tips on how to prepare for a natural disaster, reach out to your broker and insurance company loss control representative for recommendations that are specific to your situation. It is in your and your insurance companies' best interest to proactively manage and minimize the risks that accompany natural disasters. You can also find a more detailed checklist here.

Worker’s Compensation is a state-based system that is generally administered in three different ways. In total there are thirty-five NCCI states, eleven independent bureau states, and four monopolistic states. Please see the illustration below which shows which states are NCCI (National Council on Compensation Insurance), independent bureau and monopolistic states. 

Why is this important?

As an employer, you must first determine where your employees are working and know which jurisdiction applies in context of allocating payroll to a given workers compensation classification. With the Covid-19 crisis, telecommuting has become necessary and in some cases permanent.  This may impact the appropriate workers compensation class code for workers that work from home or are telecommuting.

For organizations that have employees subject to NCCI jurisdiction, it may be appropriate to change their classification to Code 8810 – Clerical Office Employees or Code 8871—Clerical Telecommuter Employees, or other classifications based upon their specific job duties or situation. As an example, the NCCI has also proposed a new classification code – 0012 for employees who have been laid off or furloughed but are still being paid.

Some independent bureau states have adopted new classification codes while others are in the process of adopting new changes. For example, New Jersey is allowing employers to reassign telecommuting employees to code – 8810 during the duration of the stay-at-home order and up to 45 days after the order is lifted to give employers time to implement a plan to return to work.

Of the four monopolistic states Ohio has implemented a new class code, 8871 – clerical telecommuter for private employees as well as 9444 - public employee clerical telecommuter. Employers may classify their employees with the temporary classification codes during a declared state of emergency.

It is important that you work with your broker and insurance company to determine how to best classify your employees who are working from home or are telecommuting.