Author: Shield Insurance Agency

Huge marble artworks dropped into the Mediterranean in a radical plan to eliminate illegal trawling fishing are finally allowing damaged ecosystems to regrow.

The underwater sculptures tackling illegal trawling

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Positive News | by Veronique Mistiaen | August 8, 2022 | Illegal Trawling | Shield Insurance Blog

Huge marble artworks dropped into the Mediterranean in a radical plan to eliminate illegal trawling finally allowing damaged ecosystems to regrow.

What is illegal trawling?

Trawling is an industrial method of fishing that involves pulling a fishing net, that is heavily weighted to keep it on the seafloor, through the water behind one or more boats. The net used for trawling is called a trawl. Wikipedia

Deep into the sea off the coast of Talamone in Tuscany, lie a mermaid and a reclining figure carved in smooth Carrara marble. With other statues, they form a strange, dreamy underwater museum. They are silent guardians, protecting the sea against gangs trawling illegally at night.

With their nets ballasted with heavy chains dragging on the seafloor, the trawlers uproot the Posidonia meadows, a seagrass endemic to the Mediterranean and vital to the marine ecosystem, which soaks up 15 times more carbon dioxide annually than an equivalent area of the Amazon rainforest. 

The practice is illegal within three nautical miles of the coast of Italy, but because it is very profitable and impossible to police the 8,000km of Italian coastline, bottom trawlers carry on at night regardless.

For years, Paolo Fanciulli, a local fisherman alarmed at the devastation caused by the trawlers, has tried various ways to stop them, including placing concrete bollards on the bottom of the sea with the help of Talamone municipality. But it wasn’t enough. 

He thought the blocks might have more impact if they were carved by well-known artists, explained Ippolito Turco, a friend of Fanciulli and president of the non-profit Casa dei Pesci, which they created together to protect the sea. A Carrara quarry offered 100 huge blocks of marble, artists donated their time and locals fundraised for the project.

“I thought it was a brilliant idea: it would attract more attention to the problem,” said British stone sculptor Emily Young, who contributed three colossal heads.

There are now 39 underwater sculptures and marble blocks at Talamone, lowered in 2015 and 2020, and another 12 are ready to join them as soon as necessary funds can be raised.

They create a defense against the trawlers and a unique underwater museum, to anyone. The statues also provide a structure on which organisms can grow, encouraging more plant life and sea creatures to return.

“The first head, the 18-tonne Weeping Guardian, which was lowered down five years ago, shows a good growth of plant life, including anemones. Fish are making good use of the newly available food and hiding places,” said Young.

Click here for the rest of the story on illegal trawling..

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3 Factors Driving A Hardening Market In The Construction Sector - Shield Insurance Agency Blog

Social Inflation: 3 factors driving a hardening market in the construction sector

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Shield Insurance Blog | Social Inflation | Start A Quote Today

1. Social inflation leads to increasing liability claim costs

Though workplace injury has always been a major cost driver for the construction industry, social and medical inflation are leading to larger liability claims payouts, whether as a result of a third-party injuries due to vehicle accidents or other worksite incidents. According to Ironshore’s Britt Sellers: “…juries are taking sympathy with the plaintiffs across all liability lines, alleging that ‘the general contractor should have done this or could have done that to prevent an injury.’”

Because of social inflation and the rising cost of medical treatment, the trend toward “nuclear” jury verdicts – where payouts surpass $10 million – has been on the rise since 2015. And this is forcing change in the insurance market. Beauvais reports, “Back in 2016, $25 million was the nominal limit deployment that we saw on a lead umbrella, but by 2019, we saw that get pulled back to somewhere between $10 million and $15 million. Now we’re seeing the limit pulled as low as $5 million in the lead umbrella space.” For companies seeking more coverage, the market is limited – and prices are much higher.

2. Cost-saving measures lead to construction defects

Another factor influencing the hard P&C market are “value engineering claims.” Though value engineering is beneficial in the right hands, at times, some cost-saving measures can lead to failure points – and those failures come at a high cost.

In response to questions about the frequency of value engineering claims, Sellers notes, “Our claims group has identified two factors that are resulting in greater frequency and severity of design-related claims. The first is when architectural plans or project specifications lack sufficient detail in some respect. The second factor involves inadequate communication between design professionals and general contractors and subcontractors.”

Lack of communication and inadequate project specifications can lead contractors to opt for alternative methods that cut costs. But when those methods fail, the contractor is liable – and potentially expensive claims may follow.

3. Design/build contracts shift liability

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Cracked Windshield? Here's How Full Glass Coverage Can Save the Day

Full Glass Insurance Coverage Can Save the Day

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Shield Insurance Blog | Glass Insurance | Auto Insurance | Start A Quote Today!

When it comes to glass insurance, there are many different types of coverage options available. One type of coverage that you may have heard of is full glass insurance coverage. But what exactly does this coverage entail and how does it work? In this blog post, we will explore the ins and outs of full glass insurance coverage and help you understand if it is something you should consider for your own auto insurance policy.

Full glass insurance coverage, also known as comprehensive glass coverage, is an optional add-on to your auto insurance policy. It is designed to cover the cost of repairing or replacing your vehicle’s glass, including the windshield, windows, and mirrors, in the event of damage. This coverage is typically available for both personal and commercial vehicles.

So, how does full glass insurance coverage work? Let’s break it down.

First and foremost, it’s important to note that full glass insurance coverage is not included in standard auto insurance policies. It is an additional coverage option that you can choose to add to your policy for an extra premium. The cost of this coverage will vary depending on factors such as your location, the type of vehicle you drive, and your driving history.

Once you have added full glass insurance coverage to your policy, you will be protected against damage to your vehicle’s glass caused by a variety of perils. These perils can include things like accidents, vandalism, theft, falling objects, and even natural disasters. It’s important to review your policy to understand exactly what is covered and what is not.

In the event that your vehicle’s glass is damaged, you will need to file a claim with your insurance company. This typically involves contacting your insurance agent or the company’s claims department and providing them with the necessary information, such as your policy number, a description of the damage, and any supporting documentation, such as photos or a police report.

Once your claim is filed, an adjuster from the insurance company will assess the damage and determine the appropriate course of action. In some cases, the adjuster may recommend repairing the glass rather than replacing it, depending on the extent of the damage. If the glass needs to be replaced, the insurance company will typically cover the cost of the replacement, minus any applicable deductibles.

It’s important to note that full glass insurance coverage usually comes with a deductible. A deductible is the amount of money that you are responsible for paying out of pocket before your insurance coverage kicks in. For example, if your deductible is $500 and the cost of replacing your windshield is $1,000, you would be responsible for paying the first $500, and your insurance company would cover the remaining $500.

In addition to the deductible, there may also be limitations on the number of glass claims you can make within a certain time period. This is to prevent abuse of the coverage and to keep premiums affordable for all policyholders. It’s important to review your policy to understand any limitations or restrictions that may apply.

It’s also worth noting that full glass insurance coverage is separate from collision coverage, which covers damage to your vehicle in the event of an accident. While collision coverage may cover the cost of repairing or replacing your vehicle’s glass if it is damaged in an accident, full glass insurance coverage provides additional protection against other perils, such as vandalism or falling objects.

So, is full glass insurance coverage worth it? That ultimately depends on your individual circumstances and preferences. If you live in an area with a high risk of glass damage, such as a city with a lot of construction or a region prone to severe weather, full glass insurance coverage may provide valuable peace of mind. On the other hand, if you rarely drive or live in an area with minimal risk of glass damage, it may not be necessary.

In conclusion, full glass insurance coverage is an optional add-on to your auto insurance policy that covers the cost of repairing or replacing your vehicle’s glass in the event of damage. It is not included in standard auto insurance policies and must be added for an additional premium. If you choose to add this coverage to your policy, you will be protected against a variety of perils that can damage your vehicle’s glass. However, it’s important to review your policy to understand any limitations, deductibles, or restrictions that may apply. Ultimately, whether or not full glass insurance coverage is worth it will depend on your individual circumstances and preferences.

 Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon.

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How to Become a 100 Percenter

Unlock Your Full Potential: Master the Art of Becoming a 100 Percenter!

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Daily Good | BY DANNY ALMAGOR | Aug 21, 2023 | 100 Percenter | Shield Insurance Blog

At Small Giants, the parent company of Dumbo Feather, we’re all about investing our passion and money into projects we believe can make the world better. We’re 100 percenters—or at least that’s our aim!

The term “100 percenter” is inspired by Charly and Lisa Kleissner, tech entrepreneurs who wanted to invest their money in a meaningful way—and inspire others to do the same. That’s why they started the 100 percent impact network, which brings together like-minded people who invest all of their assets into social and environmental causes.

“being 100 percent isn’t just about money”

Now, these are some serious investors, but being 100 percent isn’t just about money; it’s about making a 100 percent commitment to ensuring your life reflects your values. As Kleissner says, “social transformation begins with personal transformation.”

Just think of all the decisions you make every day, from the big to the mundane—where you invest your super, what you eat for dinner, where you buy your coffee, what you do for work, the relationships you have. Imagine if you could align these choices with your core beliefs. We’re on the road to doing that, and while we’re still working a lot of it out ourselves, this two-step guide will help you get the wheels in motion.

1. Work out what your values are

When I’m asked what key things I want to see changed in the world, I say: protecting the environment, encouraging hope and good leadership, building businesses that do social good, and working for peace. Your values might be different. You might be more of an animal person. Or someone who thinks we can’t go further as a society without learning how to be more vulnerable. The point is: if you can’t articulate the things that are most important to you, how can you ensure you’re focussing your energies in the best way?

A good way to discover what you care about is by doing volunteer work. If you know which area you want to volunteer in—children, homelessness, environment, education, health, etc.—then you’re sorted. If you don’t, try a few new projects until you’re hooked on something. From this, a list of values should emerge.

2. Align your values with your actions

If protecting children is a high priority, consider whether what you do at work, or what you buy, affects kids in some way. Maybe through child labor abuses? Or on a positive note: employing single mothers.

The best way to uphold these values is to surround yourself with like-minded people. It can be difficult to change the people you hang out with, but think about it: if all your work colleagues are mad cyclists, you’ll probably end up riding too, or if all your friends smoke, it’ll be hard to be the only non-smoker. On top of a great social group, find a mentor or coach whose values you respect.

Now, although I’ve made this sound fairly easy, the reality is, change is hard. And even when we do work at it, dilemmas arise. If you’re an environmentalist, for example, how do you justify international travel? If you care about health, should you still eat that sugary dessert? I care about animals but I eat meat, one of my many inconsistencies. The key is to be conscious about your choices and do the best you can. As my kids remind me, “If you reach for the stars, you might just touch the moon.”

What if you were able to align your values with how you live? We have 3 steps to help you become a 100 percenter. A Dumbo Feather production by Dennis YC Liu. 

For more inspiration, join an Awakin Call this weekend with Danny Almagor and Berry Liberman! More details and RSVP info here, 

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The Ultimate Guide to Comp and Collision Coverage: What You Need to Know

The Ultimate Guide to Comp and Collision Coverage: What You Need to Know

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Shield Insurance Blog | Comp and Collision Coverage | Start an Auto Quote Today!

When it comes to protecting your vehicle, having the right insurance coverage is crucial. Two common types of coverage that often confuse car owners are comprehensive and collision insurance. While both provide financial protection in the event of damage or loss, they differ in terms of the incidents they cover. In this blog post, we will delve into the details of comprehensive and collision insurance, highlighting their differences, benefits, and scenarios where each type is applicable.

1. Comprehensive Insurance Coverage:

Comprehensive insurance, often referred to as “comp” insurance, is designed to cover damages to your vehicle that are not caused by a collision with another vehicle. It provides protection against a wide range of incidents, including theft, vandalism, fire, natural disasters, falling objects, and animal collisions. Essentially, comprehensive coverage safeguards your vehicle from non-collision-related risks.

2. Collision Coverage:

Collision insurance, as the name suggests, covers damages resulting from a collision with another vehicle or object. This type of coverage is specifically designed to protect your vehicle in scenarios where you are at fault or involved in a single-vehicle accident, such as hitting a tree, fence, or wall. Collision coverage ensures that your vehicle is repaired or replaced, regardless of who is responsible for the accident.

Differences between Comprehensive and Collision Insurance Coverage:

While both comprehensive and collision insurance provide protection for your vehicle, they differ in terms of the incidents they cover and the circumstances under which they apply. Here are the key differences:

a. Covered Incidents:

Comprehensive insurance covers a wide range of incidents, including theft, vandalism, fire, natural disasters, falling objects, and animal collisions. On the other hand, collision insurance specifically covers damages resulting from collisions with other vehicles or objects.

b. Fault Consideration:

Comprehensive insurance is not dependent on fault. It covers damages regardless of who is responsible for the incident. In contrast, collision insurance only applies when you are at fault or involved in a single-vehicle accident.

c. Deductibles:

Both comprehensive and collision insurance policies typically have deductibles. A deductible is the amount you must pay out of pocket before your insurance coverage kicks in. Deductibles for comprehensive coverage are generally lower than those for collision coverage.

d. Premiums:

Premiums for comprehensive and collision insurance can vary based on several factors, including the value of your vehicle, your driving history, and your location. Collision insurance tends to have higher premiums compared to comprehensive insurance due to the higher likelihood of accidents involving collisions.

e. Vehicle Age and Value:

The age and value of your vehicle can also influence the need for comprehensive and collision coverage. Comprehensive insurance is often recommended for newer vehicles or those with higher values, as it provides broader protection against various risks. Collision insurance is more commonly recommended for vehicles with a higher risk of collision-related incidents.

Scenarios Where Each Comp and Collision Coverage is Applicable:

Understanding the scenarios where comprehensive and collision coverage are applicable can help you make an informed decision when choosing the right insurance for your vehicle. Here are some examples:

a. Comprehensive Coverage:

  • – Your vehicle is stolen or vandalized.
  • – Your car is damaged by a natural disaster, such as a hurricane or hailstorm.
  • – A tree falls on your vehicle during a storm.
  • – Your car is damaged by fire or explosions.
  • – You collide with an animal on the road.

b. Collision Coverage:

  • – You collide with another vehicle, regardless of who is at fault.
  • – You hit a stationary object, such as a wall, fence, or pole.
  • – Your vehicle rolls over due to a single-vehicle accident.
  • – You collide with a tree or other objects on the road.

Comprehensive and collision insurance coverage is essential for protecting your vehicle from various risks. While comprehensive coverage safeguards against non-collision-related incidents, collision coverage specifically addresses damages resulting from collisions with other vehicles or objects. Understanding the differences between these two types of coverage, along with the scenarios where they are applicable, can help you make an informed decision when selecting the right insurance for your vehicle. Remember, it’s crucial to consult with an insurance professional to determine the best coverage options based on your specific needs and circumstances.

Shield Insurance Agency represents over 40 insurance companies. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon.

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Humans are hardwired to feel good when performing acts of kindness towards others, an imperative trait in any animal that evolves to live and hunt in social groups.

Acts of Kindness Improves Mental Health Symptoms

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Goodnews Network | By Andy Corbley | Aug 15, 2023 | Acts of Kindness | Shield Insurance Blogs

A New Study Finds that Performing Acts of Kindness Improves Mental Health Symptoms

Humans are hardwired to feel good when performing acts of kindness towards others, an imperative trait in any animal that evolves to live and hunt in social groups.

This is such a truism that performing random acts of kindness for other people was more effective in reducing symptoms of depression than specifically planning activities for the sake of enjoyment, a new study found.

Acts of Kindness

The study sought to test methods of cognitive behavioral therapy, a non-pharmaceutical treatment for depression and anxiety that’s proven to work through confronting patterns of thought and behavior that lead to depressive or anxious thoughts, and consciously moving away from them by retraining one’s brain.

The methods included random acts of kindness, such as buying a stranger’s coffee at Starbucks or baking cookies for the mailman, as well as planning fun activities twice a week and “cognitive reappraisal,” which coaches people with depression or anxiety to record triggering thoughts, and actively contemplate what would make the resulting stress diminish.

The participants would record a variety of feelings as measurements before the study, during the study, and five weeks after its conclusion. These included feelings of social isolation, self-consciousness in public, or life satisfaction.

“We did think that, if there was going to be an advantage of one group over another, it might be the thoughts record group, since that’s such a tried-and-true way of addressing depressive [and anxiety] symptoms,” coauthor Jennifer Cheavens of Ohio State University, told the Greater Good Magazine.

“But the kindness group did as well or better, and that group also had increases in social connection that didn’t happen in the other two groups.”

Indeed, all three groups experienced improvements in the measurements. The random acts of kindness group had a much bigger impact on positive cognition and emotions early on which tapered off as the study period advanced. The thoughts records, or cognitive reappraisal group had the opposite effect, where it started off negative, but became stronger and stronger over time.

MORE HOLISTIC HUMAN HEALTH: A New Holistic Patch Is Cutting Anxiety Successfully – Without Drugs

Another surprise was just how easy it was for the random acts of kindness group to perform the kind acts.

“I was surprised it was not a particularly hard sell,” Cheavens continued. “The people in the acts of kindness group had better uptake in some ways than the people in other groups.”

The kindness acts is a particularly important finding because it necessitates a connection with other people. Social isolation is a high-risk factor for survival; the same as smoking 15 cigarettes a day. 

Cheavens felt that as well as being a powerful therapeutic strategy, random acts of kindness can be “add-on therapy” to pretty much most mental health disorders, reasoning that anytime we can get out of our own heads, it seems to be of benefit to our well-being.

ACT On This Finding And Perform A Random Act Of Kindness Towards Others…

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Uninsured Motorist Coverage The Ultimate Guide to Peace of Mind on the Road.

Uninsured Motorist Coverage: The Ultimate Guide to Peace of Mind on the Road

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Shield Insurance Blog | Uninsured Motorist Coverage | Start A Quote Today!

Driving on the road can be a thrilling experience, but it also comes with its fair share of risks. One of the biggest concerns for any driver is the possibility of getting into an accident with an uninsured motorist. In such situations, having uninsured motorist coverage can provide you with the peace of mind you need. In this ultimate guide, we will explore what uninsured motorist coverage is, why it is important, and how it can protect you in case of an accident.

What is Uninsured Motorist Coverage?

Uninsured motorist coverage is an insurance policy that protects you if you are involved in an accident with a driver who does not have insurance or has insufficient coverage. It is an optional coverage that you can add to your existing auto insurance policy. In the event of an accident, uninsured motorist coverage will help cover your medical expenses, lost wages, and other damages caused by the uninsured driver.

Why is it Important?

1. Protection against Uninsured Drivers: According to the Insurance Research Council, approximately one in eight drivers in the United States is uninsured. If you are involved in an accident with an uninsured driver, you may be left to cover the expenses out of your own pocket. Uninsured motorist coverage ensures that you are protected in such situations.

2. Medical Expenses Coverage: In the unfortunate event of an accident, medical expenses can quickly add up. Uninsured motorist coverage can help cover the cost of medical treatment, including hospital bills, surgeries, and rehabilitation. This coverage can be a lifesaver, especially if you do not have health insurance or have high deductibles.

3. Lost Wages Coverage: If you are injured in an accident and unable to work, uninsured motorist coverage can provide compensation for your lost wages. This can help alleviate the financial burden caused by the accident and allow you to focus on your recovery without worrying about your income.

4. Property Damage Coverage: Uninsured motorist coverage not only protects you against bodily injuries but also covers damages to your vehicle. If the uninsured driver is at fault for the accident, this coverage can help pay for the repairs or replacement of your vehicle.

How Does Uninsured Motorist Coverage Work?

Uninsured motorist coverage can vary depending on your insurance provider and the state you live in. However, there are a few key components that are common across most policies:

1. Bodily Injury Coverage: This component of uninsured motorist coverage helps cover medical expenses, lost wages, and pain and suffering caused by the accident. It typically has a per-person and per-accident limit, which determines the maximum amount the insurance company will pay.

2. Property Damage Coverage: This component covers the cost of repairing or replacing your vehicle if it is damaged in an accident with an uninsured driver. Like bodily injury coverage, it also has a limit that determines the maximum amount the insurance company will pay.

3. Hit-and-Run Coverage: Some uninsured motorist policies also include coverage for hit-and-run accidents. If you are involved in a hit-and-run and the responsible driver cannot be identified, this coverage can help cover your medical expenses and property damage.

4. Underinsured Motorist Coverage: In addition to uninsured motorist coverage, some policies also include underinsured motorist coverage. This coverage comes into play when the at-fault driver has insurance, but their coverage is insufficient to fully compensate you for your damages. Underinsured motorist coverage helps bridge the gap between the at-fault driver’s coverage and your actual damages.

How to Obtain this Coverage

To obtain uninsured motorist coverage, you need to contact your insurance provider and add it to your existing auto insurance policy. The cost of uninsured motorist coverage can vary depending on factors such as your driving record, the state you live in, and the coverage limits you choose. It is important to review your policy and understand the coverage limits and exclusions before making a decision.

Uninsured motorist coverage is a crucial component of any auto insurance policy. It provides you with the peace of mind you need on the road, knowing that you are protected in case of an accident with an uninsured driver. From covering medical expenses to compensating for lost wages and property damage, uninsured motorist coverage offers comprehensive protection. Don’t wait until it’s too late – add uninsured motorist coverage to your policy today and drive with confidence knowing that you are prepared for any situation that may arise on the road.

Shield Insurance Agency represents over 40 insurance companies. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon.

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One of the most common questions people have is why it takes longer to get a business insurance quote than an auto insurance quote.

Cracking the Code: Why Auto Insurance Quotes Beat Business Insurance Quotes in Speed

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Shield Insurance Blog | Business Insurance | Insurance Quotes | Start A Quote Today!

Business Insurance Quotes vs Auto Insurance Quotes

When it comes to insurance, there are many factors that can affect the time it takes to get a quote. One of the most common questions people have is why it takes longer to get a business insurance quote than an auto insurance quote. In this blog post, we will explore the reasons behind this and provide some insights into the process.

Firstly, it is important to understand that business insurance is a much more complex and specialized type of coverage compared to auto insurance. Business insurance covers a wide range of risks and liabilities that are unique to each individual business. This means that the insurance company needs to gather more information and assess a greater number of factors in order to provide an accurate quote.

One of the main reasons why it takes longer to get a business insurance quote is the level of customization required. Unlike auto insurance, which has standardized coverage options, business insurance needs to be tailored to the specific needs of each business. This means that the insurance company needs to gather detailed information about the business, such as its size, industry, location, and the specific risks it faces. This information is used to determine the appropriate coverage and limits for the business, which can take time to assess.

Insurance Quotes

Another factor that can contribute to the longer quote process for business insurance is the number of insurance companies involved. Unlike auto insurance, where there are a limited number of providers, business insurance has a much larger market. This means that there are more insurance companies to choose from, each with its own underwriting guidelines and pricing models. In order to provide the best quote for a business, the insurance company needs to shop around and compare quotes from multiple providers. This can take time, especially if the business has unique or specialized needs.

Additionally, business insurance often requires more documentation and verification compared to auto insurance. This is because businesses typically have more assets and liabilities that need to be assessed. For example, a business may need to provide financial statements, inventory lists, or proof of compliance with certain regulations. This additional paperwork can add to the time it takes to get a quote, as the insurance company needs to review and verify the information provided.

Furthermore, the complexity of business insurance policies can also contribute to the longer quote process. Business insurance policies often have more coverage options and endorsements compared to auto insurance. This means that the insurance company needs to carefully review and assess each option to ensure that the policy meets the specific needs of the business. This level of detail and customization can take time to evaluate and determine the appropriate coverage and pricing.

In conclusion, there are several reasons why it takes longer to get a business insurance quote compared to an auto insurance quote. The level of customization required, the number of insurance companies involved, the additional documentation and verification, and the complexity of the policies all contribute to the longer quote process. However, it is important to remember that the extra time and effort put into obtaining a business insurance quote is necessary to ensure that the business is adequately protected. So, if you are in need of business insurance, be patient and provide the necessary information to get the best coverage for your unique needs.

If you are looking for the best RV insurance quote, camper van insurance, or the best insurance for Motorhome Insurance near you, Shield Insurance Agency can help. With over 40 insurance companies represented, they have the expertise and resources to find the right coverage at an affordable price. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon. Protect your family and your business with the right insurance coverage from Shield Insurance Agency.

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The ‘Do Good Fest’ Raised Nearly $1.5 Million for Vermont After Historic Flooding

The Do Good Fest Raised Nearly $1.5 Million for Vermont After Historic Flooding

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Good News Network | Jul 30, 2023 | Do Good Fest | Shield Insurance Blogs | Start A Quote

The National Life Insurance Company was founded 175 years ago in Montpelier, Vermont—and, following historic flooding, they are still living up to their motto: ‘Believe in tomorrow. Do good today.’

They were set to hold their annual benefit concert, the Do Good Fest, historically held on the company’s back lawn, when disastrous flooding hit the area.

Within three days, they transformed the event into an indoor acoustic performance that was live-streamed so that viewers across Vermont, the nation, and globally, could support the rebuilding of Vermont through online donations.

Do Good Fest Fundraising

The Do Good Fest fundraiser exceeded expectations and the company raised their original promise to match $500,000, when donations poured in.

During the July 15 event, company CEO Mehran Assadi announced that National Life will match donations, now nearing $750,000 for a total of $1.5 million, making it the largest gift so far to the VT Flood Response & Recovery Fund 2023.

The money will go to the Vermont Community Foundation’s VT Flood Response & Recovery Fund 2023, with the first $500,000 dispersed to local relief agencies immediately.

The tax-exempt public charity, as of ten days ago, had collected more than $2.5 million in gifts or commitments to the Recovery Fund since in its first week, but donations are still being accepted.

“National Life Group is an insurance company with a soul,” Mr. Assadi said. “We have been a part of this community since 1848, and this is what a good company does – it takes care of its neighbors.”

“As an employer and a neighbor, National Life has embodied that for over a century and has done so again with this incredible commitment.”

“We are so grateful to be able to put these resources to work for families, farms, and small businesses affected by this catastrophic storm. Together we remain Vermont-strong.”

KINDNESS: 3 Officers Escort Lost Man with Autism from NYC to Philadelphia

You can watch the telethon-type event and donate to the rebuilding at DoGoodFest.com/Vermont.

Click here for the rest of the story…

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Fiduciary liability insurance

Fiduciary liability insurance: Your ultimate shield against financial risks!

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Shield Insurance Blog | Fiduciary liability insurance | Contact TJ Simmons

Fiduciary Liability Insurance (FLI) is a type of insurance policy that provides coverage for fiduciaries against claims made against them for alleged breaches of their fiduciary duties. Fiduciaries are individuals or organizations that have been entrusted with the responsibility of managing assets or making decisions on behalf of others. This can include trustees, directors, officers, administrators, and other similar roles.

So, when do you need to be aware of fiduciary liability insurance? If you are in a position of fiduciary responsibility, it is crucial to understand the potential risks involved and the protection that FLI can offer. Whether you are managing a retirement plan, an employee benefit plan, or any other type of fiduciary duty, having the right insurance coverage can provide you with peace of mind and financial protection.

Fiduciary liability insurance

It is important to know that fiduciary liability insurance is not just for large corporations or financial institutions. Any organization or individual that acts as a fiduciary can benefit from this type of coverage. This includes nonprofit organizations, government entities, small businesses, and even individuals who serve as trustees or executors of estates.

Potential claims against fiduciaries can arise from a variety of situations. Some common examples include allegations of mismanagement of funds, failure to diversify investments, breach of fiduciary duty, errors in plan administration, and failure to comply with legal requirements. These claims can result in costly legal expenses, settlements, or judgments, which can have a significant impact on the financial stability of the fiduciary and the organization they represent.

But how do you know if you are a fiduciary? If you have been entrusted with the responsibility of managing assets or making decisions on behalf of others, you are likely a fiduciary. This can include managing retirement plans, employee benefit plans, charitable trusts, or any other type of financial arrangement where you have a duty to act in the best interest of others.

Now, let’s dive into what a fiduciary liability insurance policy covers. FLI policies typically provide coverage for defense costs, settlements, and judgments related to claims made against fiduciaries. This can include legal fees, court costs, and any damages awarded to the claimant. It is important to note that coverage may vary depending on the specific policy and insurer, so it is essential to carefully review the terms and conditions of the policy.

On the other hand, there are certain things that an FLI policy does not cover. These can include intentional acts, fraud, criminal acts, and certain types of professional liability claims. It is crucial to understand the exclusions and limitations of the policy to ensure that you have adequate coverage for your specific needs.

When looking for a fiduciary liability insurance policy, there are several factors to consider. First, you should assess the specific risks associated with your fiduciary duties and ensure that the policy provides coverage for those risks. Additionally, you should review the policy limits to ensure that they are sufficient to cover potential claims. It is also important to consider the reputation and financial stability of the insurance company offering the policy.

Fiduciary liability insurance policies can cover a wide range of plans, including retirement plans, employee benefit plans, health and welfare plans, and even non-qualified deferred compensation plans. It is important to understand the specific types of plans covered by the policy to ensure that you have the appropriate coverage for your fiduciary responsibilities.

In conclusion, fiduciary liability insurance is a crucial form of protection for individuals and organizations that have fiduciary responsibilities. It provides coverage for potential claims and can help safeguard your financial stability. When considering FLI, it is important to understand the coverage provided, the exclusions, and the specific needs of your fiduciary duties. Shield Insurance Agency represents over 40 insurance companies and can help you find the right FLI policy for your needs. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK, and an agent will be in touch soon.

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