The average age of an insurance industry professional is 54, according to a study by the Independent Insurance Agents & Brokers of America, as bringing in younger talent has proven to be difficult.
While brokerages struggle to recruit youthful brokers, family-run firms are enlisting their children and grandchildren to rise through the ranks to eventually take over the business.
Jeff Hackmeier, president of Jeff D. Hackmeier & Associates in Miami, says millennials are struggling to enter into the business because the field of employee benefits does not deliver instant gratification that the generation is often used to receiving.
“The insurance industry is a very slow business with a tremendous amount of rejection,” Hackmeier says. “It takes years to build your commission up and that’s where a lot of people fail because they don’t have the willpower to stay in the business for about three to five years in order to make a living.”
Hackmeier recruited his own son, Jordan Hackmeier, as a managing partner and eventual successor to his business. At 25 years old, Hackmeier says his son has a lot of potential to make it in this industry, but he needs more experience under his belt.
“He picks up things very quickly and is adapting to the benefits industry really well,” Hackmeier says. “Jordan just needs more experience, product knowledge and just getting beat up more.”
Also see: “Bringing a true business perspective to the benefits market.”
Matt and Will Lowe, twin brothers and vice presidents of Lowe-Tillson Insurance & Associates out of Rockville, Md., were recruited by their father to assist in the family business in 2011 and 2012.
Today, having reached that crucial five-year mark Hackmeier describes, the brothers agree young talent who remain in the industry will begin to see a return on their hard work.
“Younger people come into this industry expecting selling to be a lot easier than what it really is,” Will Lowe says. “They should not get discouraged in the beginning because it takes a few years to build that book of business.”
One of the benefits of working in the insurance space the Lowes found appealing was not working in an office setting every single day, a fact promoted by their father.
“We always had an idea that we were going to go into the business,” Matt Lowe says. “The way our father handled his clients was appealing to us because every day was not the same.”
Matt says the fact that they have the opportunity to constantly be on the move and in new places keeps the job from feeling stagnant and boring. “We saw an opportunity where we could basically work for ourselves, have a little bit more flexibility in our schedules and make our own way in the business,” he adds.
ACA impact
Entering the field in the age of the Affordable Care Act, the Lowe brothers have done more than just take over the business from their father. Initially Lowe-Tillson Insurance & Associates was a P&C company with section of the business dealing with financial advising. The Lowes have since moved the business into the employee benefit space because of the changes occurring in the health insurance industry as a result of the ACA.
“The cost of health insurance was going up dramatically, so we wanted to find a way to help lower costs for our clients that we already have while also attempting to assist new prospects in the same endeavor,” Will Lowe says.
Taylor Lindsey, partner at Employee Benefit Consultants in Richlands, Va., joined his grandfather’s agency for the same reason the Lowes entered into the benefits industry. “I saw the ACA as a major issue that could sink the industry if we didn’t get a hold on it,” Lindsey says.
Because of the possible threat the ACA had on his family’s business, Lindsey says it became his calling and a personal challenge he intended to answer. “This was an opportunity to revamp the agency and become an industry leader in the law and compliance of the ACA,” Lindsey says.
Similar to the Lowes and the Hackmeiers, Lindsey says he felt the need to join the business because it ran in the family, but quickly realized there is much more opportunity within the industry than just selling insurance.
“There is no cap for what you can do within this industry,” Lindsey says. “There is consulting, technology, compliance, employee education and communication. I really have enjoyed what I have learned through every level.”
For those young prospects leaving college and entering into the workforce, particularly in the insurance space, Will Lowe says their age can be both an advantage as well as a handicap in the benefits space.
“A lot people who have been in this industry for a long time get set in their ways instead of learning the new techniques or the new technology that is out there on the market,” Lowe says. “It’s hard to get clients to trust you because of your age, but you also bring in youth and new ways to strategies as technology changes.”
Source: employeebenefitadviser.com
Identifying and Avoiding Phone Scams
Every year, people report fraud, identity theft and bad business practices to the Federal Trade Commission (FTC) and law enforcement partners. According to FTC data, nearly 3 million people reported fraud in the past year, and 1 in 4 said they also lost money. The median loss in scams that start with a call is $1,200, higher than any other contact method.
As such, the chances are likely that you have or will be on the receiving end of a phone scam. Technology has made this even easier as scammers leverage robocalls or spoofing tools to change phone numbers. This article highlights the warning signs of scams and tips on protecting yourself from phone scams.
Warning Signs
Recognizing the common signs of a scam could help you avoid falling for one. Here are some general indications that a call or text is a scam:
Phone scams come in many forms, but they often make similar promises or threats. Trust your gut if something seems off or too good to be true.
Consumer Tips
To prevent unwanted robocalls and phony texts and potentially avoid phone scams, the FTC recommends the following tips:
If you spot a scam or have given money to a scammer, you can report it to the FTC by filing a consumer complaint online or calling 1-877-FTC-HELP (382-4357). You can also visit the agency’s website to learn more about other consumer topics and more ways to protect yourself from scammers.
COVID-19 (Coronavirus) Service & Information Updates
With the world facing unprecedented challenges everyday, we at Lowe Tillson, hope that you and your family are staying healthy and safe.
The outbreak of COVID-19 has created significant individual health and safety, risk management, and insurance coverage concerns.
If COVID-19 causes or results in damage to an insured’s business, coverage will depend on the specific facts of the claim and the specific policy language. This summary of COVID-19 issues is intended for information purposes only. All coverage decisions require an analysis of the claim’s unique facts against the specific terms of the policy. All COVID-19-related claim submissions must follow the normal process and any position stated herein should not be read as a determination of coverage on a particular claim.
FIRST PARTY PROPERTY CLAIMS:
Most questions about first-party coverage will relate to Business Interruption including lost profits and extra expenses incurred from impaired operations or expenses incurred to maintain continuity. These interruptions may stem from situations such as: (a) a forced business shutdown (b) the inability of the insured or its vendors to fulfill contracts (b) loss of products due to contamination or spoilage, (d) quarantine orders or travel bans that effect employees or the delivery of goods, products, or services.
No coverage is likely for these claims because there has been no damage to property or bodily injuries to trigger coverage.
THIRD PARTY CLAIMS:
Third-party claims may arise from the alleged negligence of an insured for failure to protect against, warn of, or respond to the infection of an employee, student, or client, or from contamination of the premises or work site by COVID-19.
Any claim, however, must fit within the Insuring Agreement of a non-excluded claim to pay covered damages the insured is legally obligated to pay because of Bodily Injury or Property Damage caused by an Occurrence that takes place in the Coverage Territory during the Policy Period, as those terms are defined in the policy and endorsements. The insured also must comply with all other policy terms and conditions.
WORKERS COMPENSATION CLAIMS:
Workers compensation claims are fact-dependent and state-dependent. Generally, to be compensable under a worker’s compensation policy, an illness or disease must be “occupational” and arise from or be caused by conditions in the course and scope of employment. Ordinary diseases of life, such as the common cold and the flu, typically are not considered occupational and are not ordinarily compensable under workers compensation policies. Accordingly, we expect that most COVID-19-related claims will not be considered compensable under workers compensation laws.
In limited special cases where the course and scope of work expose the worker to these illnesses, such as medical professionals and first responders, it is possible that the claim would be considered a compensable claim. The employee, however, still must prove that the illness arose out of the scope of their employment and was caused by the conditions particular to their work. Claims of this type require careful review of the specific facts and state law and regulation.
Below is a list of links that will take you to various relief programs, both for Maryland & the Federal Government.
Maryland:
Covide-19 Layoff Aversion Fund
COVID-19 Maryland Programs
COVID-19 Information for Business
Maryland Small Business COVID-19 Emergency Relief Loan Fund
Maryland Small Business COVI-19 Relief Grant Fund
Covid-19 Case Map MD
Latest News from Hogan’s Administration
Maryland Unites
Federal:
SBA Disaster Loan
FMLA
Resources from Department of Labor
Family First Coronavirus Act
HR questions and guidance
Winter Holiday Safety Tips
12 Days of Holiday Fire Safety
More home fires happen on December 25 than any other single day except Thanksgiving. Fire officials are urging people to make fire safety part of the celebrations this holiday season. Start by making sure you have working smoke and carbon monoxide alarms. Have a home escape plan and share it with guests. Fires are always terrible but they seem worse during the festive holiday season.
Cooking is the leading cause, followed by heating. Many of the holidays celebrated at this time of year use candles. Candle fires peak in December and Christmas Eve, Christmas Day and New Year’s Eve are among the days when the most candle fires occur. So follow the safety tips below for a happy and safe holiday season.
WATER CHRISTMAS TREES DAILY
Water fresh trees daily. Place trees away from heaters, fireplaces and candles, and keep pathways to exits clear. More tips.
TURN OFF LIGHTS
Consider switching to new LED lights that are cooler and use less electricity. Turn off lights when you leave the house or go to bed.
BLOW OUT CANDLES
Always blow out candles before leaving the room or going to sleep. Burn candles inside a one-foot circle of safety, free of anything that can catch fire.
STAND BY YOUR PAN; PUT A LID ON IT
Cooking is the #1 cause of fires during the holidays, and most commonly occur when cooking is left unattended. So Stand by Your Pan and always stay in the kitchen when cooking. Take a timer with you when baking. If a pan catches fire, Put a Lid On It to smother the flames and then turn off the heat.
SPACE HEATERS NEED SPACE
Keep space heaters at least 3 feet away from anything that can burn like curtains, upholstery, or holiday decorations. Keep warm, keep safe this winter.
KEEP MATCHES AND LIGHTERS OUT OF SIGHT AND REACH OF CHILDREN
Children may imitate adults lighting candles and using matches and lighters. Keep them out of reach of children and preferably on your person.
KNOW HOW TO GET OUT
Develop and practice a home fire escape plan with 2 ways out and a meeting place outdoors. In a fire, get out and stay out of the house and call 911 from a cell phone or neighbor’s house.
HAVE WORKING SMOKE ALARMS
You need working smoke alarms on every level of your home and outside all sleeping areas. Replace smoke alarms if they are over 10 years old.
HAVE WORKING CARBON MONOXIDE ALARMS
Carbon monoxide is an invisible, odorless gas that can quickly kill you. Replace any carbon monoxide alarms over seven years old.
USE EXTENSION CORDS WISELY
Extension cords should only be used as a temporary connection. Don’t overload them and match the cord to the appliance. Never put cords under rugs as this can damage the cord and cause a fire. More electrical fire safety tips.
SMOKE OUTSIDE
Encourage smokers to do so outside, and provide them with a proper ashtray such as a can with sand in it. Many fires are started by the improper disposal of smoking materials both indoors and out.
DRINK RESPONSIBLY
Keep a close eye on anyone cooking or smoking while under the influence of alcohol. Alcohol is often a factor in fatal fires.
Basics of Extended Homeowners Replacement Coverage
When purchasing coverage for their home, too many policyholders often make the mistake of simply insuring it for the resale value. However, should a flood, storm or other event occur, they may find that the cost to rebuild far exceeds the original purchase price. This discrepancy can occur for a variety of reasons, including inflated construction costs following catastrophic events that impact multiple homes in a particular area.
To truly protect themselves, extended replacement coverage is essential. This form of coverage provides a benefit over and above the policy limits for replacing a damaged house. That means, should a covered loss occur, extended replacement coverage will kick in and pay up to a specified percentage over an insured’s policy limit—sometimes as much as 125 percent.
As an example, let’s say your $270,000 home is destroyed by a storm. Because this disaster affected an entire neighborhood, the costs of building materials and labor significantly increased due to high demand. As a result, the replacement value is estimated at $300,000—significantly over the normal replacement cost covered by standard homeowner’s policies. Without extended replacement coverage, you would likely have to pay the extra $30,000 out of pocket.
When considering homeowners insurance, extended replacement coverage is critical. While skimping on this protection may lower your coverage costs slightly, those savings will mean nothing should disaster strike and lead to tens of thousands of dollars in losses.
Get Started
Homeowners insurance can be complicated, and it’s importantto discuss your unique needs with an expert. To secure a policy that’s right for you, contact us today.
Uninsured and Underinsured Motorists
Unfortunately, many people wrongly assume that auto and umbrella insurance policies will provide reimbursement for all aspects of an accident on the road. Instead, both of these policies cover your own liability and provide compensation to others in the event that you are responsible for an accident. However, if another driver causes an accident and doesn’t have enough insurance coverage to compensate you, your own auto or umbrella policies may not be enough.
If another driver doesn’t have enough insurance coverage to pay for your medical bills, you could face extremely high costs or lengthy court battles. However, by purchasing stand-alone uninsured (UM) or underinsured (UIM) motorist coverage, or by adding the coverage as an endorsement to your umbrella policy, you can be fully protected on the road.
Why Isn’t There Coverage?
Auto insurance is required in most states because all drivers on the road essentially put their trust in one another to not get into an accident. As a result, your regular auto insurance policy will reimburse another driver if you are the cause of an accident. In a similar way, umbrella policies provide you with excess coverage for a number of different personal liabilities.
However, if another driver doesn’t have enough coverage to fully pay for the damage of an accident, you could be left to pay the bills yourself.
To protect yourself from these risks, it’s important to contact us about a stand-alone policy or an endorsement to your umbrella coverage.
Coverage Specifics
Without UM or UIM coverage, you’re essentially paying more for the protection of strangers than you are for yourself and your family. And, although uninsured and underinsured drivers are all too common, many people believe that they’re already covered if someone else causes an accident.
UM or UIM policies are available, as are endorsements to umbrella policies that can protect you from uninsured or underinsured drivers. In fact, in many states, you may be required to purchase UM or UIM coverage. However, just like a normal auto policy, there are some aspects of this coverage that you should consider.
Depending on the state, you may only be required to purchase a small amount of UM or UIM coverage. However, since these policies will protect you and your family in the event of an accident, it’s generally a good idea to purchase the same amount of coverage as your regular auto policy. Coverage is also inexpensive.
Latest Safety Features for New Car Shoppers
Vehicle technology seems to advance each year, as new features improve driver and passenger safety. The following are just a few driver-assist features to be aware of the next time you’re in the market for a new vehicle:
If you purchase a vehicle with driver-assist features, it’s important to familiarize yourself with how they work. Doing so can help keep you safe on the road and allow you to get the most out of crash-prevention technology.
Tips for Preparing Your Home for Winter
The Independent Agent Advantage
What do I give up by not using a licensed independent agent to purchase insurance?
The disadvantage of not using a licensed agent to purchase insurance is that the policyholder does not receive as much, or often any, personal service. A licensed agent with whom there is direct contact can be vital when purchasing a product and absolutely necessary when filing a claim. Without an agent to act as your personal advocate during the claims process, you are left to take care of the details on your own. You may be unsure who to contact at the insurance company or who you can really trust to help you during the times in life when you need help the most. Without an agent you are on your own to absorb the frustration and expense of resolving your problems.
The disadvantage of not using a licensed independent agent to purchase insurance is that agents who only represent one insurance company can only offer insurance based on that one company’s policies and rate structures. As an independent agency we represent numerous insurance companies and are deeply familiar with the intricate differences between them. Therefore we are able to match your needs with the best company to meet those needs and your budget without having to sacrifice coverage in order to find affordability.
What’s the risk in not using an agent?
Many insurance companies that can be called directly as a customer fail to tell you that the “call center personnel” who will take your information and issue the policy ARE NOT licensed to sell insurance, therefore lacking the professional knowledge to guide you toward an acceptable level of protection. These companies are conducting business using a loophole within the law which allows the company to have one license while everyone else works without it. Going this route can place your financial future at risk because unlicensed personnel are trained to simply sell you a policy without being aware of what “real” protection means.
For instance, imagine you own a $150,000 home and your auto insurance policy’s liability limits are $50,000. When you purchased the policy you were told this was plenty of protection considering your state’s minimum requirement for liability is $20,000. Yet if you have an accident and are sued for $200,000 your policy is only going to pay out $50k, leaving you responsible for the remaining $150k. Since your home would cover the difference, a court judgment could force you into selling your home as a way to settle the suit. If your policy’s liability limits had protected you at a minimum of $200,000, the policy would be paying for the total suit.
Because direct writers are typically located nowhere near where you live, many won’t hesitate to sell you a policy with low liability limits as a way to simply make the policy cheaper while convincing you to buy it. Leaving you extremely vulnerable to financial disaster.
Looking for an agent with your best interests at heart? That’s exactly why we’re here.
Lightning and Summer Storms
Lightning storms are incredibly dangerous and more deadly than tornadoes, floods and hurricanes. When a storm is on the verge of striking your area, you need to know the steps to take in order to protect your family and home.
Use these tips to stay safe during a lightning storm:
If someone you know is struck by lightning, contact emergency personnel immediately. A lightning strike can cause the heart to stop and a person to stop breathing.
If you have the proper medical training, administer CPR to victims who do not have a pulse and treat conscious victims for burns, fractures and other wounds.
Quick Tips for Safe RV Usage
Recreational vehicles (RVs) can be a fun way to see the country and spend time with your family. However, because they’re bigger and heavier than an average car, there are additional hazards that come with owning and operating an RV.
Many RV accidents can be avoided by following these helpful tips:
ALERT: Construction Industry
For our Construction clients: We received this notification from Donna Glover, an attorney with Baker Donelson, regarding a new Maryland law which will take effect on 10/01/2018.
New Maryland Law Makes Construction GC’s Liable for Subcontractors’ Violations of Wage and Hour Laws
Under Maryland wage laws, if an employer fails to properly pay its employees it may be liable for up to three times the wages owed to the employee, plus attorneys; fees and costs. Employees may file a lawsuit against their employer within in three years after a violation occurs. Generally, unless a construction general contractor (“GC”) and its subcontractor are found to be joint employers, that GC would not be liable for a subcontractor’s violation of Maryland wage laws. Well, that is no more . . .
Effective October 1, 2018, under the “General Contractor Liability for Unpaid Wages Act (“the Act”), a general contractor will now be jointly and severally liable for its subcontractors’ failure to pay employees in accordance with Maryland wage laws. The Act applies to subcontractors of the subcontractor, and so on – i.e., those not in a direct contract with the general contractor. That means that a GC will now be liable for wage violations at any tier on a project.
The Act provides that a subcontractor must indemnify a general contractor for “any wages, damages, interest, penalties, or attorney’s fees owed as a result of the subcontractor’s violation,” unless indemnification is provided for in a contract between the GC and the subcontractor, or if the subcontractor was unable to pay its employees because the GC failed to pay the subcontractor pursuant to the terms of their contract.
This mandatory indemnification provision may be worth nothing if a subcontractor does not have the financial capacity to pay these damages and costs. Further, the Act gives employees the opportunity to sue both the GC and their direct employer.
GC’s should review their contract provisions, consider requiring subcontractors to obtain a bond or insurance to protect against wage claims by a subcontractor’s employees, and consider adding contract provisions to allow for review of their subcontractors’ pay practices, pay records, and history of wage claims and lawsuits.
Donna M. Glover
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
100 Light Street
19th Floor
Baltimore, MD 21202
Phone 410.862.1147
Mobile 410.459.3465
Fax 443.263.7547
dglover@bakerdonelson.com
Is Gap Coverage Right for You?
Guaranteed asset protection, or gap insurance is an optional automobile coverage that helps you transfer the financial risk if you are involved in an auto accident and you owe more for your vehicle than the amount that it’s worth. This is referred to as being “upside-down.”
Since a new car’s value drops significantly the minute it’s driven off the lot, if you are involved in an accident that totals your vehicle in the first few years you own your vehicle, you may find yourself owing the finance company more than the vehicle’s actual value. Gap insurance provides for the “gap” between the two amounts.
Is Gap Insurance for Everyone?
New vehicle financing options: If you took advantage of a zero percent down payment deal or put a small amount of money down, or stretched the life of your loan past 3 years, gap insurance is most likely a good idea. That’s because the vehicle typically depreciates considerably faster than you have actually paid down the vehicle’s loan.
Used vehicles: Gap insurance is typically not available for used vehicles. To cover your risk, it’s wise to put down an ample down payment and finance the vehicle for the shortest possible timeframe.
Leased vehicles: For those who lease a vehicle, gap insurance is considered an essential coverage because typically there is no trade-in and little cash put down to lease the vehicle. Similar to purchasing a vehicle, if the car is a total loss, you will owe the difference between what you have paid and what you owe on the balance of the lease.
Cost versus benefit: Gap insurance is offered for a nominal fee, which makes it a great value for anyone who finances or leases a new car.
We’re Here to Help
Depending on your vehicle’s make, model and loan terms, we can help you determine if gap insurance is the right choice for you. If you’re purchasing a new vehicle, contact us to learn about how gap insurance can complement your auto policy coverage options and keep you from getting caught upside-down!
Making Sure You Have the Right Auto Coverage
Dropping some of your coverage—like comprehensive or collision—to the lowest legal level can cut your premium, but it could also put you at serious risk.
An automobile insurance policy is designed to provide you with a level of protection against property, liability and medical costs if you are involved in an accident.
Selecting the correct liability limits is fundamental. 100/300/50 means you are covered for up to $100,000 in bodily injury coverage per person, $300,000 in bodily injury coverage per accident and $50,000 in property damage per accident.
Many states have minimum liability limits of 25/50/10, although some states are higher or lower than this. While it may lower your premium, reducing your liability limits to minimum legal levels and dropping underinsured motorists coverage could open you up to substantial risk.
Collison Insurance – Know the Value of Your Car
Your policy will not pay for repairs that exceed the value of your vehicle. For this reason, if you are driving a vehicle that isn’t worth more than a few thousand dollars, it may not make sense to purchase collision coverage. BHC Insurance can help you determine whether or not collision insurance makes sense for you.
Top Ways to Save on Your Auto Premium:
We’re Here to Help
Accidents happen to cautious drivers, too, and having adequate insurance can save you from serious financial burden should one happen to you.
We can help you determine which automobile insurance coverage is needed and what limits you should consider for your policy.
Are You Prepared for a Home Break-in?
While it may be difficult to imagine it happening to you, home break-ins are a common occurrence. If an intruder enters your home, your property and the well-being of your loved ones are at risk.
In order to protect your home and family from an intruder, consider doing the following:
In addition to the above, consider arming your home with a security system. A security system may seem expensive, but knowing your family and possessions are safe at all times may make it worth the cost.
Remember Risk! Planning for Financial Stability
Obtaining the peace of mind financial stability brings starts with reviewing your current financial resources. This is important because your financial resources affect not only your ability to reach your goals, but your ability to protect those goals from potential financial crises. These are the resources you will draw on to meet various life events.
Start by calculating your net worth—this isn’t as difficult as it might sound. Your net worth is simply the total value of what you own: your assets, minus what you owe (your liabilities). It’s a snapshot of your financial health.
First, add up the approximate value of all of your assets. This includes personal possessions, vehicles, homes, checking and savings accounts, and the cash value (not the death benefits) of any life insurance policies you may have. Include the current value of investments, such as stocks, real estate, certificates of deposit, retirement accounts, IRAs and the current value of any pensions you have.
Now add up your liabilities: the remaining mortgage on your home, credit card debt, student and personal loans taxes due on the profits of your investments if you cashed them in and any other outstanding bills. Subtract your liabilities from your assets. Do you have more assets than liabilities? Or the other way around? If so, don’t beat yourself up. According to Forbes Magazine, a person with no debt and $10 in his or her pocket has more wealth than 25 percent of Americans.
Your aim is to create a positive net worth, and you want it to grow each year. Your net worth is part of what you will draw on to pay for financial goals and your retirement. A strong net worth also will help you through financial crises. Review your net worth annually as a good way to monitor your financial health. Websites like Mint.com help you keep track of your income, expenses and net worth on a daily basis.
Identify other financial resources. You may have other financial resources that aren’t included in your net worth but that can help you through tough times. These include the death benefits of your life insurance policies, Social Security survivor’s benefits, health care coverage, disability insurance, liability insurance, and auto and home insurance. Although you may have to pay for some of these resources, they offer financial protection in case of illness, accidents or other catastrophes.
Winter Holiday Safety Tips
More home fires happen on December 25 than any other single day except Thanksgiving. Fire officials are urging people to make fire safety part of the celebrations this holiday season. Start by making sure you have working smoke and carbon monoxide alarms. Have a home escape plan and share it with guests. Fires are always terrible but they seem worse during the festive holiday season.
Cooking is the leading cause, followed by heating. Many of the holidays celebrated at this time of year use candles. Candle fires peak in December and Christmas Eve, Christmas Day and New Year’s Eve are among the days when the most candle fires occur. So follow the safety tips below for a happy and safe holiday season.
Water Christmas trees daily
Water fresh trees daily. Place trees away from heaters, fireplaces and candles, and keep pathways to exits clear. More tips.
Turn Off Lights
Consider switching to new LED lights that are cooler and use less electricity. Turn off lights when you leave the house or go to bed.
Blow out candles
Always blow out candles before leaving the room or going to sleep. Burn candles inside a one-foot circle of safety, free of anything that can catch fire.
Stand by your pan; put a lid on it
Cooking is the #1 cause of fires during the holidays, and most commonly occur when cooking is left unattended. So Stand by Your Pan and always stay in the kitchen when cooking. Take a timer with you when baking. If a pan catches fire, Put a Lid On It to smother the flames and then turn off the heat.
Space heaters need space
Keep space heaters at least 3 feet away from anything that can burn like curtains, upholstery, or holiday decorations. Keep warm, keep safe this winter.
Keep matches and lighters out of sight and reach of children
Children may imitate adults lighting candles and using matches and lighters. Keep them out of reach of children and preferably on your person.
Know how to get out
Develop and practice a home fire escape plan with 2 ways out and a meeting place outdoors. In a fire, get out and stay out of the house and call 911 from a cell phone or neighbor’s house.
Have working smoke alarms
You need working smoke alarms on every level of your home and outside all sleeping areas. Replace smoke alarms if they are over 10 years old.
Have working carbon monoxide alarms
Carbon monoxide is an invisible, odorless gas that can quickly kill you. Replace any carbon monoxide alarms over seven years old.
Use extension cords wisely
Extension cords should only be used as a temporary connection. Don’t overload them and match the cord to the appliance. Never put cords under rugs as this can damage the cord and cause a fire. More electrical fire safety tips.
Smoke outside
Encourage smokers to do so outside, and provide them with a proper ashtray such as a can with sand in it. Many fires are started by the improper disposal of smoking materials both indoors and out.
Drink responsibly
Keep a close eye on anyone cooking or smoking while under the influence of alcohol. Alcohol is often a factor in fatal fires.
Attention Maryland Residents! New Smoke Alarm Laws
New Maryland Smoke Alarm Laws
What You Need to Know and Requirements
New laws are set to take place January 1st regarding the type of smoke detectors you have in your home. Click the links below to see the new requirements and if you need to make changes to your home.
DOWNLOAD PDF: SMOKE ALARM LAW DETAILS
DOWNLOAD PDF: SMOKE ALARM REQUIREMENTS
Christmas Safety Reminder for Home or Office
For many of us, the holiday season is a time of joy, celebration and tradition. We look forward to hosting or attending festive gatherings or concerts. We travel near and far to share in the spirit of the season with family, friends and co-workers. We cook more, shop more and decorate more.
However, all that extra cooking, traveling, shopping, celebrating and decorating we do can post potentially serious hazards at home, in the office and on the road. Reports from leading safety organizations indicate that the time from Thanksgiving through the New Year is also one of the most dangerous for homeowners.
Whether you are planning or participating in the festivities, knowing the risks and how to help avoid injury, theft and damage to property through the holiday season are important however you choose to celebrate.
Fire Hazards
According to the National Fire Protection Association (NFPA), home fires and home fire deaths peak between December and February.* Cooking is the leading cause of home fires year round, and the increased use of stovetops and ovens for preparing holiday meals can increase the risk. Holiday decorations and the open flames of fireplaces and candles used during the holidays can also pose a threat.
To help reduce the risk of fire, consider using non-flammable or flame-retardant decorations. If you decorate a Christmas tree this time of year, select a quality artificial tree and decorate with only UL-listed lights. If you choose to have a fresh tree, be sure to keep water in the stand at all times. According to the NFPA, even a well-watered fresh tree should be taken down after four weeks. If you celebrate using a menorah, consider lighting using dripless candles. Remember to keep decorations and trees away from candles, fireplaces and heaters. Never leave an open flame or stove unattended.
Decorative Displays
Decorating the home, office or yard is a popular way to get into the spirit of the season. Planning your displays carefully is important to help reduce the risk of fire, electrical shock, trips and falls, and property damage. If a ladder is to be used always use a fiberglass or wooden ladder as they do not conduct electricity should the ladder come in contact with an open power source. Be diligent about everything you do while decorating to help keep your family and friends safe when putting up, playing around or packing away your festive displays.
Winter Driving Safety
Over the river and through the woods to grandmother’s house, shopping malls and holiday parties we go — all increasing our risk of having to drive in sometimes hazardous winter conditions.
Always check the weather before going out, and avoid driving in snowy, icy or other severe conditions if possible. Take a vehicle survival kit stocked with cold weather essentials on every trip, and try to keep your gas tank from getting far below the half empty level. Following your common sense and basic winter driving tips can help ensure you and your passengers reach your holiday destinations safely.
Consumer Protection Safety Commission, http://www.cpsc.gov/; Electrical Safety Foundation International, http://esfi.org/.
Grooming the Next Generation of Brokers
The average age of an insurance industry professional is 54, according to a study by the Independent Insurance Agents & Brokers of America, as bringing in younger talent has proven to be difficult.
While brokerages struggle to recruit youthful brokers, family-run firms are enlisting their children and grandchildren to rise through the ranks to eventually take over the business.
Jeff Hackmeier, president of Jeff D. Hackmeier & Associates in Miami, says millennials are struggling to enter into the business because the field of employee benefits does not deliver instant gratification that the generation is often used to receiving.
“The insurance industry is a very slow business with a tremendous amount of rejection,” Hackmeier says. “It takes years to build your commission up and that’s where a lot of people fail because they don’t have the willpower to stay in the business for about three to five years in order to make a living.”
Hackmeier recruited his own son, Jordan Hackmeier, as a managing partner and eventual successor to his business. At 25 years old, Hackmeier says his son has a lot of potential to make it in this industry, but he needs more experience under his belt.
“He picks up things very quickly and is adapting to the benefits industry really well,” Hackmeier says. “Jordan just needs more experience, product knowledge and just getting beat up more.”
Also see: “Bringing a true business perspective to the benefits market.”
Matt and Will Lowe, twin brothers and vice presidents of Lowe-Tillson Insurance & Associates out of Rockville, Md., were recruited by their father to assist in the family business in 2011 and 2012.
Today, having reached that crucial five-year mark Hackmeier describes, the brothers agree young talent who remain in the industry will begin to see a return on their hard work.
“Younger people come into this industry expecting selling to be a lot easier than what it really is,” Will Lowe says. “They should not get discouraged in the beginning because it takes a few years to build that book of business.”
One of the benefits of working in the insurance space the Lowes found appealing was not working in an office setting every single day, a fact promoted by their father.
“We always had an idea that we were going to go into the business,” Matt Lowe says. “The way our father handled his clients was appealing to us because every day was not the same.”
Matt says the fact that they have the opportunity to constantly be on the move and in new places keeps the job from feeling stagnant and boring. “We saw an opportunity where we could basically work for ourselves, have a little bit more flexibility in our schedules and make our own way in the business,” he adds.
ACA impact
Entering the field in the age of the Affordable Care Act, the Lowe brothers have done more than just take over the business from their father. Initially Lowe-Tillson Insurance & Associates was a P&C company with section of the business dealing with financial advising. The Lowes have since moved the business into the employee benefit space because of the changes occurring in the health insurance industry as a result of the ACA.
“The cost of health insurance was going up dramatically, so we wanted to find a way to help lower costs for our clients that we already have while also attempting to assist new prospects in the same endeavor,” Will Lowe says.
Taylor Lindsey, partner at Employee Benefit Consultants in Richlands, Va., joined his grandfather’s agency for the same reason the Lowes entered into the benefits industry. “I saw the ACA as a major issue that could sink the industry if we didn’t get a hold on it,” Lindsey says.
Because of the possible threat the ACA had on his family’s business, Lindsey says it became his calling and a personal challenge he intended to answer. “This was an opportunity to revamp the agency and become an industry leader in the law and compliance of the ACA,” Lindsey says.
Similar to the Lowes and the Hackmeiers, Lindsey says he felt the need to join the business because it ran in the family, but quickly realized there is much more opportunity within the industry than just selling insurance.
“There is no cap for what you can do within this industry,” Lindsey says. “There is consulting, technology, compliance, employee education and communication. I really have enjoyed what I have learned through every level.”
For those young prospects leaving college and entering into the workforce, particularly in the insurance space, Will Lowe says their age can be both an advantage as well as a handicap in the benefits space.
“A lot people who have been in this industry for a long time get set in their ways instead of learning the new techniques or the new technology that is out there on the market,” Lowe says. “It’s hard to get clients to trust you because of your age, but you also bring in youth and new ways to strategies as technology changes.”
Source: employeebenefitadviser.com
Lowe – Tillson Recognized by Rockville Economic Development
Achievement Recognition
Lowe – Tillson Insurance & Associates are honored to receive recognition from Rockville Economic Development, Inc. We Thank You!
Insuring Your College Student
When your child leaves for college, it is a big event. One thing that you should think about is your insurance coverage and how it could change with your son or daughter away at school.
Protecting Your Student’s Belongings
Many homeowners policies consider a dorm room as an extension of your home, so items your child keeps there may be covered to some extent. However, if your child has expensive electronic equipment or furniture, you may want to consider purchasing additional coverage.
If your child lives off campus, his or her possessions may not be covered by your homeowners policy. In that case, you may want to consider renter’s insurance, which typically costs as little as a few dollars per month. Renter’s insurance will cover possessions in your child’s off-campus apartment or house as well as provide liability coverage if anyone is injured in the residence.
Changing Auto Coverage
If your son or daughter moves more than 100 miles away from home to attend school and does not keep a vehicle there, your car insurance premiums could decrease by as much as 30 percent.
Keeping Your Child Healthy While on Campus
Since 2014, children up to age 26 can stay on their parent’s employer plan even if they have another offer of coverage through an employer. This rule applies to all plans in the individual market and to new employer plans. It also applies to existing employer plans unless the adult child has another offer of employer-based coverage.
If you find your child does not have adequate coverage under your plan, you have a few options. Most universities have their own health plans, but some policies have low deductibles and low coverage maximums. It may be better to consider an individual policy for your student depending on his or her needs.
Count on Us
If you are sending a child off to college and haven’t looked at adjusting your coverage, contact us today to learn more. You could save money on your policies and protect your child from expensive incidents while away from home.
Boat Insurance for Smooth Sailing
You can insure just about any kind of vessel, whether you have a yacht, speed boat or personal watercraft like a JetSki. Every type of boat has the potential to be stolen or damaged, and can be involved in an incident that results in harm to another person or their property. Even if your boat is docked or stored in your garage, it can potentially be vandalized, damaged in a fire or storm, or stolen.
Many owners of small watercraft such as canoes, rafts and kayaks assume they will be covered under a homeowners or renters policy. This may be the case, up to a specified limit in your home policy. However, when it’s time to make a claim, you don’t want to be surprised to find out that this limit is not adequate to cover the value of your investment.
Be sure to consider the amount of coverage you would need to repair or replace each of your boats and recreational vehicles if damaged or stolen and ask your agent to help you get the right coverage for those items.
What Does Boat Insurance Cover?
The exact boat coverage you need depends on multiple factors. Small boat insurance is very different from yacht insurance, for example. However, for most types of boats, the three kinds of coverage in a basic boat insurance policy include:
You also may want to add additional types of coverage to your boat insurance policy in order to fully protect yourself and your property. Here are some examples of additional coverage:
As with all insurance, the amount of benefit or reimbursement you have in the event of an incident is set at the time you buy your policy.
Grilling Safety Reminders For Your Summer BBQ
Though grilling is an extremely popular way to prepare food in the summer, it can also be dangerous. According to the U.S. Fire Administration, gas and charcoal grills account for an average of 10 deaths and 100 injuries annually. Additionally, the National Fire Protection Association reports that an average of 8,900 home fires are caused by grilling each year.
This year, keep the following safety suggestions in mind when you go to fire up your grill:
Grill Your Food Thoroughly
Prevent food-borne illnesses by grilling your meat to the proper internal temperatures.
Summer Water Safety Refresher
Summer Water Safety Refresher
Business Insurance in Frederick and Gaithersburg, MD
New risks could impact your commercial and business insurance
Commercial insurance is vital to your business welfare and will cover you in the event of most of the common events such as fire, theft and accidents. But how current is your business insurance when you consider rapid changes in the world we live in. Perhaps it is time to have another look at the status of your commercial and business insurance. Lowe-Tillson are experts in the areas of business insurance and can advise you regarding the effectiveness of your commercial policies in Bethesda, Frederick, Gaithersburg, Maryland or Rockville.
As a business owner or manager you are aware of many risks and possibilities that could cause loss to property and equipment or result in the interruption of business operations and consequential loss. These could be due to a fire, a vehicle accident, an accident at work, theft and similar events or incidents. But we live in a changing world where new risks surface almost on a daily basis. Lets consider some of them and how they may impact your business insurance.
Across the world countries have raised their levels of terrorist threats. Incidents of terrorism occur daily in some place or another. Is your business covered in the event of an attack or incident related to terrorism?
Today businesses are more reliant on computers, networks and online information than ever before. Is cyber insurance part of your commercial insurance portfolio? Cyber insurance should be part of any sensible business insurance plan to cover you in the event of data loss, whether from an internal or external source.
Global warming and climate change brings new risks that can affect your business interests. You just need to consider recent weather events such as unparalleled snow fall in certain areas. Question is: Are you covered if some unusual event takes place in your hometown?
Cyber Insurance is new territory in Rockville and Bethesda
Cyber Insurance is new territory in Rockville and Bethesda
Cyber insurance is often overlooked despite the fact that cybercrime is on the rise. Viruses, cyber-attacks, network security breaches and online fraud are just a few of the issues that face companies and carriers alike. What would happen to your business if you suffered a serious data breach, denial of service attack or if your computer systems are compromised due to cyber-crime? For many this is new territory despite the fact that cyber liability insurance has been around for almost a decade.
If you need advice and assistance with cyber insurance in Bethesda, Frederick, Gaithersburg, Maryland or Rockville, then you should consult with the experts at Lowe-Tillson agency.
Cyber insurance is a form of risk mitigation in the event of a cyber-attack and data breach. Cyber Liability Insurance Cover (CLIC) is a term that you will come across when you start looking in the implications of network security and data breaches and insurance options.
This type of insurance can cover you for data breach and expenses related to damage control, investigation, remediation, legal costs and liability claims. Cyber Insurance can also cover you in the event that your website is defaced or compromised or if you suffer intellectual property losses. Other possible coverage’s could extend to extortion as well as third party damages as a result of loss of service or data and privacy infringement. The fast changing landscape in our connected world makes this type of insurance complicated and challenging.
Not many insurance agents are competent when it comes to cyber insurance. You need to consult the right brokers in order to obtain cyber-insurance that is suitable for your business. An expert cyber insurance broker such Lowe-Tillson understands the risks and costs associated with cyber-attacks and data breaches. An expert broker will also know with which carriers to negotiate regarding a suitable policy that covers your cyber risks.
Specialist Car Insurance in Bethesda, Frederick, Gaithersburg, Maryland or Rockville
Specialist Car Insurance Knowledge in Bethesda, Frederick, Gaithersburg, Maryland or Rockville
Whether you own a sedan in Bethesda, a pick-up in Frederick, a SUV in Gaithersburg, a truck in Maryland or sports model in Rockville, one thing is certain, you need car insurance. Some form of auto insurance required by law, but you need more than that to protect your financial interests. Driving a vehicle without car insurance is not only illegal, it is stupid.
Car insurance is not expensive and the risks are high. Since insurance is all about risk and costs, auto insurance is a no-brainer. Of course you want car insurance that is affordable, reliable and tailored to your needs. That is the kind of vehicle insurance you get when you deal with an independent agent such as Low-Tillson.
Car insurance must of course cover you if your vehicle is damaged or destroyed in an accident or as the result of some other event. Your auto insurance also has to include a liability component that covers you in the event of damage or injury to others. At the same time your car insurance must also cover you if you sustain injuries.
Since there are different risks there are different types of car insurance policies and an array of terms, conditions, inclusions, exclusions as well as options and variations. It can all get quite complicated. That is why it is best to leave your insurance matters in the hands of professionals. Not only do they have the knowledge, they also have the contacts that enable them to get you best value car or auto insurance deals.
Apart from car insurance you will also need other types of insurance. This could include property insurance, liability insurance, medical insurance, travel insurance and business insurance. Anything that is complicated usually requires specialist knowledge and related experience. Insurance is no exception and that is why there are agents that specialise in this field and who can assist and help you.
Life Insurance in Bethesda, Frederick, Gaithersburg, Rockville MD
Workers comp and life insurance from a reliable source
Employers in Maryland are compelled by law to carry workers comp insurance. When you need to buy workers comp insurance you want to secure your cover from a carrier that offers competitive pricing, free safety services, efficient claims processing, fraud detection, reliability as well as financial strength.
Lowe-Tillson agency deals with top carriers across the state and the country. They provide insurance services to the businesses and people of Bethesda, Frederick, Gaithersburg, Maryland and Rockville. They can assist you with your insurance requirements including workers comp insurance. When you deal with a trusted and independent agent you will get a better deal than when you try and source insurance on your own or directly from a carrier. That is because they represent both national and regional carriers and can select a plan that best covers you and your employees.
Life insurance is practical, sensible and affordable way to provide for your loved ones when you no longer will be able to do so. Life insurance comes in a few flavors and these include term life, whole life and endowment policies.
Term life insurance is the most economical and will cost the least. This is a good option for young families who are just starting out. Term life insurance will pay your beneficiaries in the event that something unexpected happens to you. Whole life will cover you for rest of your life as long as you pay the premiums. This type of life insurance does not end after a specific time frame. If you want a policy that accrues a cash value you should consider and endowment policy. Your agent will advise you regarding the pros and cons of each type of life insurance and also source the policy that best matches your lifestyle and your circumstances.
General Liability Insurance in Bethesda, Frederick, Gaithersburg
Personal, commercial and general liability insurance from a professional agent
Insurance is the only effective instrument to help you plan financially for life’s disasters and mishaps. We live in a risky world and there is always something that will happen and result in you suffering some form of loss. The only way to protect your assets and financial interests is with effective personal and commercial insurance.
If you work or live in Bethesda, Frederick, Gaithersburg, Maryland or Rockville you can get best value personal insurance and cost effective business insurance from Lowe-Tillson agency. An independent insurance agent has access to various insurance plans and policies and can select one that is best suited to your needs and your situation. So whether you need auto, health, travel, property or business insurance, it is best to deal with an independent agent that works for you and not the insurance carrier.
Insurance is a complicated subject and is riddled with conditions, options, exceptions, exclusions and fine print. It is a minefield for the uninitiated and therefor best left in the hands of the professionals. By simply selecting the first and best policy that comes along you will likely end up paying too much or being underinsured. Neither is a desirable situation and end up costing you a lot more than you bargained for.
Business insurance is probably the most complicated of them all. You need to be sure your commercial insurance covers your business assets and income and that your general liability insurance is in place. When you interact with clients or the public there is always the risk of injury or damage. General liability insurance protects you in the event of third party claims for bodily harm, medical costs or damage to someone else’s assets or property.
Let a professional and independent agent handle your commercial and general liability insurance requirements and you will have peace of mind knowing you have the right cover and that your business interests are protected.
Life Insurance in Bethesda, Frederick, Gaithersburg, Rockville MD
Workers comp and life insurance from a reliable source
Employers in Maryland are compelled by law to carry workers comp insurance. When you need to buy workers comp insurance you want to secure your cover from a carrier that offers competitive pricing, free safety services, efficient claims processing, fraud detection, reliability as well as financial strength.
Lowe-Tillson agency deals with top carriers across the state and the country. They provide insurance services to the businesses and people of Bethesda, Frederick, Gaithersburg, Maryland and Rockville. They can assist you with your insurance requirements including workers comp insurance. When you deal with a trusted and independent agent you will get a better deal than when you try and source insurance on your own or directly from a carrier. That is because they represent both national and regional carriers and can select a plan that best covers you and your employees.
Life insurance is practical, sensible and affordable way to provide for your loved ones when you no longer will be able to do so. Life insurance comes in a few flavors and these include term life, whole life and endowment policies.
Term life insurance is the most economical and will cost the least. This is a good option for young families who are just starting out. Term life insurance will pay your beneficiaries in the event that something unexpected happens to you. Whole life will cover you for rest of your life as long as you pay the premiums. This type of life insurance does not end after a specific time frame. If you want a policy that accrues a cash value you should consider and endowment policy. Your agent will advise you regarding the pros and cons of each type of life insurance and also source the policy that best matches your lifestyle and your circumstances.