Hello business owners! This is the twelfth edition of the Johnsonese Brokerage Insurance Newsletter for Creative Businesses. The goal of our quarterly newsletter is to provide useful information about insurance to independent creative businesses . You can also follow-us on Facebook to get more regular updates on insurance issues for small business. Or contact me today to schedule an appointment for a free insurance review!
Chris
|
|
Our Continuing Series: Unpredictable Business Lawsuits
| |
 Maybelline is being sued for claiming that its lipstick and lip gloss last up to 10 hours. The claimants say the products fade after only a few hours.
The suit claims faulty advertising and is seeking class action status.
-Chicago Tribune, September 21, 2012
Dish Network is being sued for calling a woman 'dozens' of times who claims that she is not even a Dish customer. The suit claims that the calls continued even after she demanded that they stop.
This suit is also seeking class action status.
-Sacramento Bee, October 11, 2012
A man is suing a cruise lines after burning his feet on a sunny deck.
-New York Times, October 4, 2012
|
|
Chicago Jewelry Store Robbed at Gun Point
| |
A jewelry store in a Chicago neighborhood just north of our  office, was robbed at gunpoint earlier this week. Three people entered the store pretending to be customers.
They pointed a gun at the store clerk, tied the employee up, and then stole jewelry and cash. The three escaped through a backdoor when police arrived on the scene. Three suspects were captured soon after who are believe to be the perpetrators.
-Huffington Post Chicago, October 10, 2012
The lesson here is the importance of employee training. Robberies happen and employees need to be trained in how to react to the situation.
|
|
Woman Skimmed $1 Million from Employer's Bank Deposits
|
We sometimes think our economy is completely digital. But a suburban Chicago woman was recently found guilty of embezzling over $1 million in cash. She worked for a beverage distributor and skimmed the amount from cash bank deposits over a six-year period.
The woman received a four year prison sentence.
-Chicago Tribune, September 24, 2012
This article is a reminder that even in the cyber crime era, old-fashioned internal controls still matter.
|
|
Why Are Commercial Insurance Rates Increasing?
| |
Many commercial clients are currently experiencing rate increases when their insurance policies renew. No one likes a price increase, especially with economic growth still less than stellar. Independent Agent magazine recently gave a helpful explanation for why insurance companies are pushing rate increases at this time.
Record property catastrophe losses in 2011 are a major factor. Protracted low interest rates have decreased investment income for insurers. Insurers invest premiums to help fund future claims. Increased scrutiny by ratings agencies after the financial crisis is forcing insurers to maintain higher levels of capital to protect their credit ratings. Finally, reinsurance rates have increased. (Reinsurance is essentially insurance coverage purchased by insurance companies themselves.)
-Independent Agent, September 2012
As an independent agency our job is to find the most cost effective coverage for our clients. If you're experiencing premium increases, let us know and we will 'shop your coverage' looking for a better deal!
|
The Johnsonese Brokerage can assist you with most of your business insurance needs. To get started immediately call 773.857.0242 or Email info@johnsonese.com. Christopher Johnson (dba Johnsonese Insurance Agency LLC in CA) insurance for creative businesses
|
|
About the Johnsonese Brokerage |
The Johnsonese Brokerage LLC is a licensed and bonded independent insurance agency focused on insuring independent creative businesses.
Who we insure:
- Advertising Agencies
- Architects & Interior Designers
- Boutiques
- Event Planners
- Fashion Designers
- Florists
- Furniture & Design Dealers
- Graphics Designers
- Hair & Nail Salons
- Musical Instrument Dealers
- Photographers
- Pop-up Stores
- Publishers
- Restaurants
- Specialty Retail
- Special Events
- Spas
- Tailors
- Travel Agencies
- Videographers
- Wedding Planners
We are licensed in the states of Arizona, California (license #0H55862), Florida, Illinois, Indiana, Kentucky, Maryland, Michigan, Minnesota, Missouri, New Jersey, New York, Ohio, Pennsylvania, Texas and Wisconsin.
How are we doing? Your feedback is always welcome!
|
|
|
|
Common Insurance
Terms
This quarter we focus on Commercial Auto terms:
Comprehensive Coverage - Physical damage coverage for losses by fire, theft, vandalism, falling objects and other non-crash related perils. (Called 'Other Than Collision Coverage' on Personal Auto policies.)
Personal Injury Protection (PIP) - No-fault benefits in states that have enacted no-fault automobile insurance coverages.
No-Fault Insurance - Auto accident victims collect from their own insurance company regardless of who was liable for the accident.
Auto Loan/ Lease Gap Coverage - In the event of a total loss to an auto that is subject to a loan or lease, the amount of outstanding indebtedness will be paid if it is greater than what the insured could otherwise recover.
Uninsured/ Underinsured Motorist
- Coverage for accidents for which another driver is liable, but who is unable to pay due to having insufficient insurance or no insurance
|
We Are a Trusted Choice ® Agency
Trusted Choice® agencies are insurance firms whose access to multiple companies and commitment to quality service enable us to offer our clients competitive pricing, a broad choice of products and unparalleled advocacy.
"You need an independent insurance agent"
|
Our Business Partners
-
AmWins -
AXA -
Berkley -
Chubb -
CNA -
Hartford -
HCC Specialty -
Insurance Noodle -
Markel -
Philadelphia -
Risk Placement Services
|
|
We Appreciate Referrals!
As a service business, referrals are our biggest source of new clients.
If you know of any other business needing insurance, please let us know. We promise to give them the same personal and professional service that you've come to expect from the Johnsonese Brokerage. |
|
|
