Will the Superbowl be Cancelled?

What does the SUPERBOWL have to do with Commercial Insurance?

Superbowl 2015Are you ever shocked at the news stories that stir you to excessive emotion? And you just kind of sit there and wonder, and wonder… “Is this a story being leaked, or just another rumor?”

Well, I heard one yesterday that kind of beats all: Congress taking a “harsh position” that could result in the Arizona Super Bowl being cancelled! Knowing it is one of those events that turns into a literal, although temporary, “economic boost” it is difficult for me to get my head around the possibility the answer could ever be affirmative!

I hurried off to check on Pro Football Talk and the NFL seems to be assured the Super Bowl will be played as planned. From what I can ascertain, the issue goes back to the Terrorism Risk Insurance Act (TRIA) that was signed way back in 2002.


Terrorism Risk Insurance Act

Apparently, this law was designed to provide support to insurance companies who cover the costs of terrorist attacks as a risk-sharing program between those companies and the federal government. The U.S. is to assume a portion of insured losses should they exceed $27.5 billion. The “rumor mill” took on a life of its own recently when someone noticed the TIRA expires December 31, 2014.

The long and short of it… without the extra federal backing, the insurance companies would be forced to cover all claims resulting in a terrorist attack. Up in arms about the impending doom of this possibility, the word on the street became, “We may opt to cancel any business we feel would have a higher than normal terrorist risk, such as the Super Bowl!

No Guarantees…

Further reading, and I found there is no guarantee of what will transpire: nothing to validate insurance companies will take this position, and two bills now in Congress that could temporarily extend the Bill to see how things work out, or extend the TRIA for another limited time frame. Essentially… myriad solutions – one of which is just that the NFL can elect to play the game – terrorist insured or not! What is YOUR take on this situation?

Will I see YOU at the game in Glendale February 1st, 2015?

Making MORE happen for my insurance clients…

Jan Vitale

Arizona Independent Insurance Agent
Proudly serving her clients and her industry for 30+ years

Source: http://profootballtalk.nbcsports.com/2014/12/15/super-bowl-will-be-played-despite-insurance-issue/


Commercial Insurance Coverage for Restaurants

Commercial Insurance Coverage for Restaurants

Whether you have a fine dining restaurant on S. Mill Avenue or a casual diner in Valley Fair Shopping Center in the Tempe, AZ area you need commercial insurance for your restaurant.

Often times, restaurant owners have a difficult time deciding what type of commercial insurance is necessary. When you’re putting together an insurance policy for your restaurant, there are specific things the law may require you to have such as the following:

  • Liquor Liability – If your restaurant serves alcohol, most states require liquor liability insurance. If you live in a state that does not require this type of coverage, you may want to seriously consider adding it to your commercial policy. It provides protection for you, if a patron drinks too much and gets hurt or hurts someone else (especially in the event of a car accident.)
  • Workers Compensation – Every commercial business that has employees must have a workers compensation policy, to cover workers in the event they become injured or ill as a result of their work environment.
  • Auto Insurance – If your restaurant delivers and you provide the vehicle (many fine dining establishments also cater and many pizza shops deliver) you will need an auto insurance policy, to cover your vehicles and drivers.

The usual types of commercial insurance include:

  • Property Insurance – This type of insurance protects your property and equipment against fire and vandalism (it may not protect you against “Acts of God” earthquakes, tornados, hurricanes, floods etc…)
  • General Liability – Is an umbrella policy that protects you in the event someone gets hurt on your property or becomes sick after eating (even if the case of their illness was not related to your food.)

Other commercial insurance coverage you want to consider:

  • Food Contamination Insurance – This type of insurance pays to replace food that has spoiled as a result of a power outage.
  • Loss of Business Insurance – This type of insurance is designed to help you with lost sales. For example, a competitor opens up down the road and you lose business as a result of it.

If you own a restaurant or are thinking about opening one in the Tempe AZ 85280, it’s easy to call agents for insurance quotes with Lifetime Investments.

***agents Tempe

Arizona Auto Theft on a Downward Trend

Arizona Auto TheftArizona Auto theft is on a downward trend, but what would you say if you knew that vehicle theft has seriously diminished throughout Arizona? I just read a really interesting and revealing article released by PR Newswire Association, LLC.


PRNewswire Article

DES PLAINES, Ill., Dec. 16, 2014 /PRNewswire-USNewswire/ A Historical Analysis of Vehicle Theft in Arizona 1960 – 2013

The article, a historical overview covering the years 1960 to 2013, through the National Insurance Crime Bureau (NICB) – and specific to Arizona  – showed the peak theft year was 2002; affecting over 57,000 automobile owners. That number in 2013 – a 70 percent reduction – was just over 17,000 vehicles.

The cycle has been up and down, over the years, but we can probably give credit to the downward trend that seems to be holding, to increased technology in law enforcement, and auto manufacturers providing an increasing number of theft prevention devices in addition to services like OnStar protection.

We are fortunate the evil deeds of auto thieves is lower; however, there are still sufficient incidents, which as a vehicle owner, places the ultimate responsibility back on your shoulders… such as following the “layers of protection” guidance of NICB, which you can now download to your iPhone or Android. That APP is available HERE.

Making MORE happen for my insurance clients…

Jan Vitale

Arizona Independent Insurance Agent
Proudly serving her clients and her industry for 30+ years


Source: http://www.prnewswire.com/news-releases/a-historical-analysis-of-vehicle-theft-in-arizona-1960–2013-300008879.html


The Importance of Finding the Right Car Insurance in Mesa, AZ

There are insurance policies available for just about everything that consumers can own these days but one of the most basic and essential forms of insurance is for automobiles. Purchasing car insurance is not only a smart consumer move, it is also a requirement in the state of Arizona. There are several different types of insurance for automobiles and it is important for drivers to ensure that not only are the vehicles they own insured but that every individual family member who may drive those automobiles be included on the policies as well.

For drivers in Mesa, AZ, the type of insurance purchased for a car depends on several factors such as the make and model of the vehicle and the driving record of the primary driver. The state of Arizona is a “fault” insurance state which means that there are a number of options for drivers who are involved in car accidents in the state, including of course Mesa. Drivers who are involved in an accident in Arizona can do one of three things: they can file a claim with the insurance company of the driver who is at fault, they can file a claim with their own insurance provider, or they can file a personal injury lawsuit with the Arizona courts in order to seek compensation from the driver who was at fault.

Whether everyone who will be driving a particular vehicle is a seasoned and experienced driver or there is a young driver with only a learners permit, there are minimum car insurance requirements in the state of Arizona with which all policies must in compliance. The minimum requirements are:

  • $15,000 per person for bodily injury liability
  • $30,000 per accident when more than one person suffers injuries
  • $10,000 for property damage

It is important that consumers speak with several car insurance agents in order to determine what the best policy is for their specific driving needs.