Independent Agents Call for Consumer Protection

It's inevitable.  Spring showers bring may flowers; or so they say.  In the insurance world, spring showers bring "storm chasing" contractors too.  These are contractors who target neighborhoods and communities in the aftermath of a violent storm.  Many of them come from out of state, immediately following a natural disaster using high pressure tactics to pursuade homeowners into signing repair contracts before they have even had a chance to speak with their agent.  As with any claim, one should always wait until the insurance adjuster has an opportunity to assess the damage before proceeding with signing a repair contract unless advised otherwise by the adjuster.

Rely on your agent to obtain the name of a reputable contractor rather than one who is scouring the area immediately following a storm.

Legislation is being introduced to establish some basic consumer protections from the practices of fraudulent contractors.  The legislation would require that homeowners receive disclosure notices and contract termination rights from a contractor.  This bill would also prohibit rebating or other compensation of a property insurance deductible to induce consumers to enter into a contract.

Liability Awareness Lacking

Two-thirds of small business owners are worried employees might bring a discrimination claim or other employment-related charge against them, yet only 1.2 percent of small businesses recently surveyed by Hartford Steam Boiler actually purchase employment practicies liability insurance.  Not having such coverage could be trouble for the six million or so small commercial businesses, defined as having 100 or fewer employees.