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Insurance News / 25.09.2015

Here’s a big change that will require some work. If implemented as proposed, most employees earning between $23,600 ($455/week) and $50,440 ($970/week) will be eligible for overtime wages under new soon-to-be enacted regulations. This change in the federal Fair Labor Standards Act (FLSA) will require employers to take decisive steps to comply with the law. At a recent Breakfast Briefing sponsored by Clark Insurance and Pro Search, attorney Gregg Frame of Taylor McCormack and Frame admonished a gathering of Maine employers not to ignore the requirements....
Insurance News / 21.09.2015

Do you love traveling for your vacation? When going to a new place, you pull out maps, read the travel guides and you ask well-travelled friends for tips. For vacations, we tend to plan and save. Well, maybe it’s time to think of our retirement as a vacation – a long vacation of about 22.5 years. On average, babies born this year will live until they are nearly 90 years of age. If you divide 90 by four, you get 22.5 – roughly the age most...
Insurance News / 03.09.2015

Not “knowing” is not only a risk but also is a huge and unproductive source of anxiety. Whether it’s personal or in business, not “knowing” impacts our emotions, performance and our behavior. On a personal level, lack of knowledge strikes fear into our souls whether it’s financial security, relationships, career paths or our health. In business, not “knowing” what your employees, co-workers and customers really think about you and your organization can measurably impact satisfaction and the bottom line. Fortunately, there are professionals who can take...
Insurance News / 03.09.2015

In 2008, the University of Southern Maine introduced a new program called Risk Management & Insurance (RMI), an industry-funded initiative spearheaded by Ken Ross, a USM graduate and now the chair of the board of directors of Clark Insurance . The new academic offering was a collaborative venture between USM and Maine’s insurance industry to expose undergraduates to the social and economic impact the discipline provides in society. It also has helped create wonderful job opportunities. Since the first class graduated in 2010, the numbers...
Insurance News / 14.08.2015

Oz was a fantastical place of Munchkins, Wizards and talking scarecrows. However, after a Kansas house dropped on the Wicked Witch of the East, her sister threatened “I’ll get you, my pretty,” and soon sent her monkeys aloft to retrieve Dorothy and her little dog, too! Things coming out of the sky that can deliver and retrieve are no longer a fantasy, though. Today’s drones pose a host of opportunities and challenges for users and those around them. So, what does drone insurance cover and...
Insurance News / 13.08.2015

Maine is a day trip or less from cities and towns north of Philadelphia and east of Buffalo. For thousands and thousands of families who ski, sail, tour or simply dwell through the four seasons, buying or passing along a second home in Maine is rich with possibilities. Here’s a reflection of our own experience and some advice to ponder. In 1918, it was a long and bumpy trip on the road from Jamaica Plain in Boston to Perkins Cove in Ogunquit, Maine. That’s when my...
Insurance News / 07.08.2015

Approximately 21 million young people are getting ready to go or return to American colleges and universities. With this annual migration of our best and brightest come risks that can be avoided and insured. What should you be doing now to ensure a safe and successful academic year? Dorms, apartments and houses will be filled in just a few weeks with all the “stuff” that goes with pursuing higher education – clothes, computers, text books, bikes, stereos, cell phones, bedding and furniture. In nearly all situations,...
Insurance News / 27.07.2015

In New England, we pride ourselves on our independence. That Yankee trait often includes our work status. “I work for myself!” may be a proud declaration but do you really work for yourself in the eyes of the law? In Maine, seven steps are used to determine worker status. New Hampshire has 12 criteria that must all be met. And in Massachusetts, a three prong test leaves little room for interpretation. Let’s take a look at one set of rules. State governments are protecting workers from...
Insurance News / 24.07.2015

The insurance industry often is made out to be the boogie man when it comes to responding to claims. If you believed all the ads that question the sincerity and character of insurance professionals, you’d think nary a dollar was spent to settle a claim or that policyholders are systematically ripped off with lower than advertised settlements. Your personal experience may be the best measure but here are some statistics and experiences to ponder. Let’s start with what insurance is all about. Insurance is when a...
Insurance News / 17.07.2015

Let’s start with a fact: In a 2009 study by Javelin Strategy & Research, 38 percent of identity theft victims said “the perpetrator had obtained their Social Security number and used it in the crime.” Identity thieves are getting bolder and better at extracting information from trusting potential victims. So who really needs your Social Security number and when should you comply? First, think about the term Social Security. The word “security” ought to trigger your defensive instincts when it comes to being compromised. Your government-issued...

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