Blogs | Page 31 of 37 | VAST Insurance Agency | Marquette, MI
February 25, 2013

Should I Insure My Winter Sports Equipment?

Every year, thousands of sets of skis or snowboards are stolen from resorts and hills across the country.  With ski sets and snowboards ranging from $500 to $1,500 in value it’s worth contacting your agent to add them to your homeowners or renters insurance policy.  Still, many people don’t insure their winter sports equipment and are stuck with the bill for purchasing new equipment.  With policies costing pennies on the dollar, it is a cost effective investment to protect your property. To learn more about insuring your winter sports equipment, contact Heather Mosher | 906.315.7235 |

February 21, 2013

4 Blue Rules: My First Year At Vast [Part 1 of 2]

“What a long strange trip it’s been.” These words were cemented in history in the 70’s by the iconic jam band known as The Greatful Dead, but on January 16th of this year I found myself using these same words. That day marked my one year anniversary of being hired at VAST, and it caused me to sit and reflect about where the past twelve months have taken me. I’ve learned some lessons along the way, and I’ve compiled them into four “Blue Rules” instead of golden rules because here at VAST “Blue Culture” reins supreme, but more on that … Continue reading

February 20, 2013

CEO + CFO Insurance Considerations When Selling a Hospital

Old News – across America many hospitals | health systems are facing financial challenges. New News – many hospitals | health systems are looking for the right upstream partner.  Choosing the right partner and executing the transition period are examples of Strategic and Hazard Risks.  Today, I will focus on the Hazard Risk of “How to tie up all liabilities when selling your hospital.” If you are like most hospitals you will have some “Occurrence” policies and some “Claims Made” policies.  If you have an Occurrence policy, the process is quite simple.  However, most Medical Professional Liability policies are written … Continue reading

February 18, 2013

Diamonds: to Insure or Not to Insure – That’s an Easy Queston

Marilyn Monroe wasn’t lying when she sang at the top of her lungs that “diamonds are a girl’s best friend!”  I would argue that diamonds aren’t only our friend, but our feel good on a Saturday night jewelry item, and the only thing that beats a piece of dark chocolate on a bad day. But are you taking care of your friend the way you should be?  According to Rough Notes, a leading insurance industry publication, it is estimated that fewer than 25% of women’s diamond rings in the United States are insured.  This is a surprising number given the … Continue reading

February 13, 2013

Emerging Risk #1 – Severity of Medical Professional Liability Claims

What do the following numbers and states have in common? $120,000,000 – New York $78,500,000 – Pennsylvania $74,000,000 – California $10,000,000 – Ohio $178,000,000 – Florida $144,000,000 – Michigan $58,600,000 – Connecticut These were large medical malpractice jury verdicts in the past 20 months. What does the term Emerging Risk mean? “A risk that has increased in frequency | severity or a risk that has presented itself for the first time – i.e. it didn’t previously exist.” The severity or likelihood of a large Medical Malpractice or Medical Professional Liability claim has increased in recent years. This is why we classify it … Continue reading

February 11, 2013

Tips for Your First Car Insurance Policy

So you’ve graduated, you’ve moved out, and now you’re on your own.  There are a lot of “firsts” ahead of you and car insurance just so happens to be one of them. A little background knowledge can go a long way in helping you get the right coverage.  It might even save you some money along the way. Let’s talk coverage! What kind of coverage is right for you? Short answer: It depends.  There are many different types of coverage that make up an auto policy but, I want to focus on the main 3: Liability, Comprehensive, and Collision. $-Liability … Continue reading

February 7, 2013

Employee Perks – Safety in the Snow

Blue Culture is a blog in which employees can share their first hand experience of what it is like to work at VAST.  This week’s topic is Safety in the Snow by Lindsie Williams. There’s nothing like working for an insurance agency to understand how important traveling safely on snowy and icy roads is during the winter months. I live 17 miles from the office, so I spend plenty of time on the winter roads on a daily basis. Imagine my surprise when the first “VAST All” message came through my email telling us the roads are horrible and those that … Continue reading

February 6, 2013

Super Bowl Power Outage – Effectively Managing Risk

Super Bowl XLVII may be remembered as the “blackout” or “power outage bowl.”   When the power went out in the stadium the game was stopped, but social media blew up.  According to CNN, the number one twitter related moment of the Super Bowl was the outage which generated 231,000 tweets per minute.  There are many story lines that will be remembered – Ray Lewis’ last game, The Harbough Bowl, Beyoncé’s half time performance, and of course the power outage. Regarding the power outage, what lessons could be learned?  The following will outline 8 items to consider with your insurance and … Continue reading

February 4, 2013

How Does Health Insurance Work With PIP?

Lately I have received several questions about how health and disability insurance policies work with PIP.  We thought it was a good topic to discuss, so the following post will explain how it works. What is PIP? PIP or Personal Injury Protection is a specific coverage that is found on all Michigan auto policies.  In this state, if you are injured in an auto accident, you have access to lifetime unlimited medical care.  In order to fund this type of system, the state of Michigan has established an organization called the MCCA or Michigan Catastrophic Claims Association.  Every vehicle that … Continue reading

January 30, 2013

4 Things to Consider When Selling a Medical Practice

Every physician and practice owner will sell their practice during their career.  There are a variety of reasons which will lead to the sale of your business, some of which include: Retirement Choosing to sell your practice to a hospital|health system and becoming an employed physician Merging your practice with a larger practice Death or disability What are some considerations that you should take into account? Cost of Tail policies if you carry any claims made insurance policies.  Medical Professional Liability (medical malpractice) are commonly written on this type of insurance policy form. Employees – What will happen to your staff?  … Continue reading

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