Mark Kofalt, Author at Premier Insurance Services

Number of COVID-19 Workers’ Comp Claims Continues Rising

Post author:Mark Kofalt
Post published:August 3, 2020
Post category:Business

While the pandemic rages on, the number of workers in the U.S. who are filing COVID-19 workers' compensation claims is increasing and are accounting for a growing portion of overall claims. While there is only data currently available from two states - California and Florida - the numbers coming out of the two states show the steady progression of claims being filed, although in Florida's case the numbers don't reflect all filed COVID-19 workers' compensation claims. Additionally, the National Council on Compensation Insurance, which the rating agency for about 38 states will release it's first numbers on coronavirus claims in…

How to Buy Health Insurance If You Lose Your Job

Post author:Mark Kofalt
Post published:June 17, 2020
Post category:Business

For those who have lost jobs during the COVID-19 pandemic, the loss of income is only part of the hardship. Another major part is the loss of health insurance that came with the job. Amid the worst public health crisis in a century, millions of people no longer have their health coverage for this reason. What can they do to replace it? Public exchanges One avenue is the health insurance exchanges in their states. These are online marketplaces, created under the Affordable Care Act, where individuals and small employers can purchase coverage. Some states have their own exchange, while others participate…

COVID-19 Presents Special Challenges for Truckers, Commercial Drivers

Post author:Mark Kofalt
Post published:June 10, 2020
Post category:Business

More people staying home and driving less during the COVID-19 pandemic has led to a drop in the number of accidents, but new data suggests that emptier roads may actually be more dangerous to those who are driving on them. With this in mind, companies that have drivers who are plying the roads now have special issues to contend with during this unprecedented time. And because of a rule suspension for long-haul truckers, there could be a rise in truck accidents due to fatigued drivers. Preliminary data from the National Safety Council shows the fatality rates per miles driven increased…

Planning for Hurricane Season During COVID-19 Pandemic

Post author:Mark Kofalt
Post published:June 4, 2020
Post category:Personal/Family

Planning for hurricane season and other potential disasters can be stressful, and because the 2020 hurricane season comes during the coronavirus disease (COVID-19) pandemic, it may be especially so this year. Public health and emergency response professionals have advice to help you safely prepare, evacuate, and shelter for severe storms while protecting yourself and others from COVID-19. Here are some tips to help you and your family stay safe during hurricane season this year. Prepare for hurricane season Understand that your planning may be different this year because of the need to protect yourself and others from COVID-19.Give yourself more…

Pay Attention to Policy Milestones to Reduce Workers’ Comp Costs

Post author:Mark Kofalt
Post published:May 27, 2020
Post category:Business

Once they have paid their annual premium, many employers pay scant attention to their workers' comp policy until the renewal date starts closing in. Unfortunately, that's not the best time to attempt to control costs. Because workers' comp is one of the most loss-sensitive insurance policies, and as claims can sometimes be paid out for decades, it's important that you proactively manage claims. One way to do that is through a quarterly claims review process, the timing of which is in line with the calculation of your company's Experience Modification Factor (X-Mod). It's important to review loss runs and assess…

What You Need to Know Before Installing a Pool

Post author:Mark Kofalt
Post published:May 21, 2020
Post category:Personal/Family

Summer is here with rising temperatures and for many homeowners that means it's pool time. Perhaps you've decided to make the financial commitment to buy a pool. While a swimming pool can provide lots of fun for your family and guests, and can increase the value of your home, it can also bring on higher homeowner's insurance rates. Before you dive in and add a pool to your property or buy a home that already has one, here are three important things to keep in mind: You may need to increase your insurance coverage A pool increases your exposure to…

What Business Insurance Policies Cover Rioting, Looting

Post author:Mark Kofalt
Post published:May 15, 2020
Post category:Business

As protests around the country descended into rioting and civil unrest, many businesses that have been looted, or seen their shops damaged or completely destroyed, will obviously be turning to their insurance to file a claim. While many companies were unsuccessful in filing business interruption claims for the COVID-19 crisis, claims for damage and theft from rioting and looting are more likely to be paid. A number of coverages will come into play depending on the damage and lost income a business suffers at the hands of rioters, vandals and looters. Property damage Standard commercial property policies cover damage to…

Tackling the Scourge of Cyberbullying

Post author:Mark Kofalt
Post published:May 8, 2020
Post category:Personal/Family

Social media can be a great way to stay in touch with friends and family, but unfortunately, as it has evolved, so has a dark side that has caused plenty of children distress - some to the point of driving them to suicide. We are talking about the growing problem of cyberbullying. Unfortunately, many kids are victims and others are perpetrators of online bullying. In both cases, you need to nip it in the bud. What is cyberbullying? Cyberbullying includes sending, posting or sharing negative, harmful, false or mean content about someone else on social media like Facebook, YouTube, Instagram…