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A recently published white paper by Robert P. Hartwig, Ph.D., CPCU and Claire Wilkinson examines the current exposure to cyberrisk and how insurers are responding: Interest in cyber insurance and risk continues to grow beyond expectations in 2016 in part due to high profile data breaches, but also due to awareness of the almost endless range of exposures businesses face. Attacks and breaches have grown in frequency, and loss costs are on the rise. ...

The homeowners policy liability section covers only "bodily injury" and "property damage." Thus, any type of non-bodily injury such as personal injury is excluded without the attachment of a personal injury endorsement.  Examples of personal injury claims include wrongful eviction, wrongful entry, and oral or written publication that injures a party's reputation. This latter event is becoming particularly problematic with the rapid growth in social media.   Here are some tips to help you carefully manage ...

On July 6, as part of the Massachusetts RMV’s “Summer of Success” campaign, the Massachusetts RMV launched a new web feature at www.massrmv.com. The new “myRMV” is an easy and friendly central customer page that allows customers to view their RMV information and conduct RMV online transactions all from this one location. myRMV can be accessed through a myRMV icon at the top of the RMV’s website homepage or by clicking on one of the ...

BOSTON - MassDOT Registrar of Motor Vehicles Erin Deveney announced today that applications for the 2016 Low Number Plate Lottery are now being accepted online or by U.S. mail. Starting this year, for the first time ever, customers will be able to enter the lottery online by visiting:  https://secure.rmv.state.ma.us/myPlateLotto/.   Mail-in applications are available for download at www.MassRMV.com, or at Registry branch office locations across the Commonwealth.  Applications must be received online or postmarked by August 26, 2016, ...

Whether building a new home, remodeling an existing home or even repairing a home that has been damaged, a lightning protection system can be a worthwhile investment, according to the Insurance Information Institute (I.I.I.). Damage caused by lightning, such as fire, is covered by standard homeowners insurance policies; and some policies provide coverage for damage from power surges that are the direct result of a lightning strike. “Lightning losses were $790 million in 2015 ...

If you have a CDL or CLP, be aware that the Federal Motor Carrier Safety Administration (FMCSA) has amended Commercial Driver License standards. This regulation is referred to as the “CDL Permit Rule”. The Massachusetts RMV will implement the rule starting in July 2016. If you have questions about the changes, please contact the MA RMV directly for further clarification.  The Commercial Driver’s License is referred to as the “CDL” and the Commercial Learner’s Permit is referred to as the "CLP". ...

June 1 marks the beginning of Atlantic hurricane season, which ends on November 30.  This season NOAA predicts between four and eight named storms may become hurricanes and between one and four could become major Category 3 or above storms, which have winds in excess of 111 mph. Take steps to prepare and have an action plan in case you need to evacuate and to ensure that you have sufficient supplies for a few days. Put ...

Cost per claim soars to more than $37,000 per bite Dog bites (and other dog-related injuries) accounted for more than one-third of all homeowners insurance liability claim dollars paid out in 2015, costing in excess of $570 million, according to the Insurance Information Institute (I.I.I.). An analysis of homeowners insurance data by the I.I.I. found that while the number of dog bite claims nationwide decreased 7.2 percent in 2015, the average cost per claim for the year was ...

In 2015, a new Massachusetts law went into effect regarding certificates of insurance.  This legislation, MGL Chapter 175L was enacted to legally clarify that insurance certificates do not and cannot modify the terms or conditions of the insurance policies they evidence. Yet, a year later, instances still occur where businesses or their clients appear either confused or unaware of the law. As a review, here are the key points: A certificate of insurance encompasses any document or instrument evidencing ...

The House of Representatives is expected to consider and debate legislation, recently released by the Financial Services Committee, which would regulate Transportation Network Companies (TNCs) like Uber and Lyft. TNCs and their drivers would be overseen by a new regulatory “Ride For Hire Division” under the Department of Public Utilities (DPU). The new division would be responsible for licensing of the TNC companies and drivers, enforcing penalties, requiring background checks for drivers and setting ...

 

The information provided in these articles are only general descriptions and should not be relied upon as complete, correct or accurate for your specific situation. All coverage informaiton is subject to policy provisions, endorsements and may be  subject to your meeting underwriting qualifications. Murphy Insurance Agency is not engaged in rendering legal, accounting or other noninsurance professional services. Consult an appropriate professional for advice regarding your own situation.