A multi-million dollar bid to revive the once-famed Walker’s Cay fishing and diving resort has been approved by the Bahamas Investment Authority. The resort and hotel, currently in the negotiation stage with five resort operators, is slated to open around Holiday 2011.
Insuring luxury homes and assets in catastrophe prone areas.
Worth Magazine’s August/September issue features an article by Ray Celedinas on insuring luxury homes and assets in catastrophe prone areas.
Celedinas Insurance Group – “Top 100 Privately Held Insurance Agencies”
The Insurance Journal has once again named The Celedinas Insurance Group to its list of “Top 100 Privately Held Insurance Agencies” nationally.
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$18K Sales Tax Cap For Yachts Sold in FL
Governor Christ recently signed the Jobs Florida Bill, which contains the Florida Boat Sales-use Tax Cap legislation. The $18,000 boat sales tax cap took effect on July1,2010. Now Florida will be a choice state for people purchasing yachts.
Weak Property Insurers are a Big Concern in FL
Twenty-six of 148 property insurers considered the weakest in the nation by Weiss Ratings LLC are in Florida, with five headquartered in Central Florida.
The Central Florida firms on that newly released list include: Maitland-based First Home Insurance Co.; Orlando-based Olympus Insurance; Orlando-based St. Johns Insurance Co.; Winter Haven-based State Farm of Florida Insurance Co.; and Lake Mary-based First Protective Insurance, now called Frontline Homeowners Insurance.
Four of the insurers got D ratings, while First Protective got a D-, which means Weiss Ratings identified a weak spot in their financial stability. Fiscally weak insurers potentially could find themselves unable to pay claims in the event of an incident such as a major hurricane. That, in turn, would leave the state’s hurricane catastrophe fund, and thus its taxpayers, on the hook for those claims.
Weak property insurers are a big concern for Scott McCurdy, president of Winter Park-based Coastal Reconstruction, a general contracting company that specializes in disaster recovery. “If they’re in trouble just with normal business and rated weak before a major storm, they’re most likely going to be gone after a storm,” said McCurdy.
Weiss Ratings considers five C. Fla. property insurers weak – Orlando Business Journal.
Protect Your Precious Cargo on the Road This Summer
With the warmer months upon us, many families are planning to hit the road for their beloved summer vacation. If you are traveling with children this season, you’ll need to take some extra precautions.
Because babies and children can cause countless distractions like crying, spills and sibling scuffles in the backseat, parents often lose their focus on the road. While these disturbances are usually unavoidable, there are some things you can do to ensure that your family arrives safely.
As you make your way towards your final destination, remember that your family’s safety should always come first. Here are a few tips to keep in mind as you load up the family car for this year’s road trip:
Review your insurance coverage
A couple of weeks before you hit the road, take a look at your auto insurance plan. You may find that it’s time to upgrade your policy, especially now that you are traveling with a baby or young child. Faced with huge responsibility of raising a child, new parents often decide to increase their liability or property damage coverage to ensure their family is protected financially.
Double check child seats
Many parents unknowingly make mistakes while installing child safety seats and booster seats in their cars. Sadly, children suffer from serious injuries and die in car crashes every day due to the misuse and incorrect installation of child seats, according to the National Safety Belt Coalition.
Are you certain that your child’s seat is installed properly? Even if you think your seats are good to go, it’s well worth double checking.
Play it safe with special mirrors
Child safety mirrors are extremely popular with parents who frequently travel with their kids in tow. These mirrors, which easily attach to your rear view mirror, allow you to keep your eyes on the road while occasionally checking on your kids in the backseat. It’s like having another pair of eyes in the back of your head—your kids know you can see them at all times, so they’ll be less likely to start trouble.
If you are traveling with a baby in a rear-facing car seat, you may consider installing an infant mirror. These mirrors attach to the back window or back seat headrest so you can see what your baby is up to every time you peek in your rear view mirror. An added plus is that baby gets to check out his reflection on the road—an activity that provides endless entertainment for many infants.
Keep the kids entertained
We all know that as soon as kids get bored, they start acting up. Try to keep the kids entertained on the road by packing some fun activities, like puzzles, games or coloring books. You may even consider purchasing a portable DVD player so they can watch their favorite movies or play video games in the car. The happier your kids are on the road, the fewer distractions they’ll create. This will help you stay focused on driving safely.
Make frequent pit stops
If you’re on a particularly long drive, make sure to take plenty of breaks. Try to stop every couple of hours at a park, restaurant or even an interesting historical site. This will allow everyone to stretch their legs, burn some energy and feel refreshed and ready to face the rest of the trip.
Protect Your Business with Building and Equipment Insurance
Protect Your Business with Building and Equipment Insurance
If you are a business owner, you have undoubtedly heard of building and equipment insurance, which covers your business’ buildings and all personal property under the care or control of your business. Even so, you may not yet be aware of everything else this insurance covers, and just how important it can be to you and to your business.
For instance, did you know that building and equipment insurance covers additions, alterations, and even repairs to your buildings? This type of insurance also covers items and equipment used to maintain your business’ property.
Giving this type of coverage a second thought now? You should. Building and equipment insurance also provides coverage for furniture, fixtures, equipment and machinery; stock; all other personal property you and your business own and use in the business; labor, parts, or service by your business on other’s property; and improvements you make to the building you or your business lease.
Similar to the personal property you own, the coverage also includes personal property inside and outside your business’ buildings, or in vehicles within 100 feet of your buildings. And, interestingly enough, payment for damages done to personal property owned by others goes to the account of the property owner and not to the actual insured business owner.
There are a few types of property excluded from this coverage, and you should be aware of them. The types of property excluded from this coverage include: waterborne personal property; animals (in most circumstances); automobiles for sale; bridges, roads, walks or other paved surfaces; contraband; costs for excavations; certain foundations; land, water, growing crops, or lawns; money; piers, wharves, or docks; retaining walls that are not part of the building; and underground pipes, flues, or drains.
However, you can obtain additional coverage for your business’ outdoor property, valuable papers and records, the personal property or effects of others, personal property at newly acquired buildings, property temporarily off-premises, and newly built or acquired buildings. Keep in mind, though, that several of the categories may have limitations about which you need to be educated.
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Tagged Building Insurance, commercial, Equipment Insurance, property, tipss
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