Grocery Shopping With 1965 Prices
Preferra is owned by its policyholders and is not controlled by profit-obsessed Wall Street investors. We strive to take cost out of every aspect of our business while delivering the best coverage in the nation to you at the lowest price, along with many free support services. Our record proves it—no price increases in over 45 years.
Insurance and the Numbers
Insurance is all about numbers and using numbers and statistics to predict outcomes. That is because some people say that insurance is like gambling. Why is that? While similar to gambling, however, insurance is not a zero-sum game where the dealer wins the bet and you lose.
Assortments of Endorsements
Just about any insurance carrier allows the buyer of an insurance policy or an active insured covered under an insurance policy to buy a “Rider,” referred to as an “Endorsement.” When you add an Endorsement to an insurance policy contract, think CHANGE. It could amend anything.
Ratio to Pareto…What’s Best for You?
Today we will talk briefly about certain statistical tools and perspectives that you may want to use in your practice so you get a better handle on your cases and general work activity. The goal here is to help you work smarter, not harder while managing your risk better. The first thing to ask is: “What’s my story?” Is your practice driven by a few types of cases or is it widespread among many diverse case types?
What’s Happening With Claims in COVID-19
COVID-19 caused the closing of state licensing boards and civil courts for many months, depending on the state, some are still recovering. Historically, our experience has shown that state licensing boards normally require on average 8 to 15 months to resolve a case. With COVID-19 delays, we are now looking at years.
The Insurance Outlook for 2021
According to the Deloitte Center for Financial Services, Deloitte Insights’ survey of 200 industry leaders reported on December 3, 2020, the pandemic from COVID-19 hurt the property and casualty insurance business significantly. The trend will continue perhaps into Q3 2022.
Be Aware, If You Care … Insurance Distribution Awareness Can Save You Money
Whether it is life, health, hospital, dental, vision, accident, property, casualty, auto, renters, homeowners, mortgage, credit, or liability, insurance is a part of everybody’s life. So, like it or not, you are an insurance policy customer, and you should know how the insurance distribution process works. It will save you money.
Insurance Policy Limits, Sub-Limits, and Deductibles
When you are renewing or buying a liability insurance policy such as a professional liability policy, a general liability policy, a cyber liability policy, or any other insurance policy for that matter, we recommend that you read and review your coverage. Make your insurance coverage review a standard part of your practice administrative support tasks.
The Perils of Cyber Liability
The Preferra Insurance Company RRG’s Cyber Liability insurance suite covers the major cyber liability perils specified under the 45 CFR Part 160 HIPAA HITECH Law. These are “Third-Party” liability records breach incidents. These perils include legal defense, state and federal fines and penalties, damages to clients, the required security breach audit, client notification costs, and the required ID theft protection subscriptions for victims. Professional Liability policies do not cover these “Third-Party” perils.
Social Workers Instead of Police – a New Risk Paradigm?
The social worker profession is indeed a noble one, founded on service, integrity, and clinical expertise. At times, it can be a stressful and hazardous occupation. The nation is grateful for what you do, thank you!
This article shares some brief research about the growing trend that shifts some police risk to the social workers and shares some detail regarding how the Preferra Insurance Company RRG, insures its practitioner policyholders for bodily injury and damages sustained by its practitioners.
The Cyber World and Your Liability
While the use of teletherapy and online-therapy has been increasing as alternative treatments in the Allied Health profession, the COVID-19 pandemic has accelerated their use, and they have become top-of-mind discussion topics. These therapies have essentially become based on and enabled by virtual catalysts as agents of significant change.
COVID-19 Pandemic Sparks Alternative Treatments
The COVID-19 pandemic has caused Preferra Insurance Company and the Preferra Insurance Company RRG, (“Preferra”), to receive many phone calls from mental health professionals asking about alternative treatment methods including teletherapy and online therapy. It is the Preferra’s priority to protect its policyholders since they are owners of the Preferra, and the Preferra wants to help its policyholders to be able to continue serving their clients and communities.