Allegheny Insurance News
August 26, 2011Earthquake Coverage Solutions You never know what perils lurk just around the corner, as the Aug. 23 East Coast earthquake proved. That’s why it’s important to stay in close contact with your insurance agent, who can assist in finding affordable coverage for risks that we typically do not associate within our geographical location.
The specialists at Allegheny Insurance Services want to remind you that they’re available for consultation on a number of issues, including earthquakes! A few things to consider:
Earthquakes bring to mind a number of issues: how likely an earthquake will occur at any location, the amount of insurance coverage on property in the area, and what coverage is provided by such insurance.
Since earthquakes cannot be prevented, predicted or avoided, the best ways to cope with this threat are loss prevention and insurance. Loss prevention by way of building construction codes, building materials, and community preparation are very beneficial at lessening destruction and injuries. Even so, it does not totally mitigate all losses. Insurance then is the way to cover those unavoidable losses.
Earthquake coverage insures against loss caused by an earthquake. Loss or damage caused by earth movement is excluded by all three primary causes of loss forms.
Coverage for earthquake damage is available in three different ways: losses may be covered by using “an earthquake cause of loss form.” A difference in conditions (DIC) policy may be purchased with earthquake as a covered cause of loss. Or a separate earthquake policy may be purchased from a nonstandard insurance company.
The first two options are the most cost effective, but the nonstandard market may be the only place to obtain this coverage in certain earthquake-prone areas or with certain types of properties. Deductibles are usually expressed as a percentage of the amount of insurance and range from 1% to 10%.
Carriers have different stipulations. Some won’t bind coverage until 72 hours after the last seismic activity, and others wait until 30 days of no recorded activity before coverage can be bound. Stipulations will depend on the carrier you wish to place coverage with.
Remember, Allegheny’s agents can help fill gaps in coverage or answer any questions you might have concerning this type of coverage. For more information or a personalized evaluation, call 304-636-1680.
August 15, 2011
Allegheny Supports Community Health Initiatives For the fifth consecutive year, Allegheny
Insurance Services is proud to be the title sponsor for the Davis Health System Foundation charity golf tournament. This year’s
event raised money for The Davis House, a home away from home for cancer patients.
“Davis Health System and its charitable foundation do great work in our community, and we’re proud to support their efforts,” said Jay Wallace, president of Allegheny Insurance. “It’s always our goal to support community-based organizations, and this is one way to do that.”
In addition to Allegheny’s contributions, partners Travelers Insurance, West Virginia Mutual Insurance and Highmark Blue Cross/Blue Shield all sponsored holes during the tournament held on August 5th.
“Allegheny is a wonderful partner and we appreciate their efforts,” said Dan Bucher, president of the Davis Health System Foundation. “Their contributions make a difference not only right here in Randolph County, but in all of our surrounding service area.”
Allegheny Insurance is an independent agency with offices in Elkins, Philippi and Beckley, serving customers in the surrounding communities. For more information on Allegheny Insurance and its full line of carriers or to set up an appointment, visit www.alleghenyinsurance.com or call 1.800.628.7794.
August 8, 2011
Allegheny Insurance Services now authorized to offer AARP-branded insurance The Hartford Financial Services Group Inc. is making its award-winning AARP-branded auto insurance program available through Allegheny Insurance Services’ offices in Elkins and Philippi.
Allegheny was added to the list of providers after the independent agency satisfied a number of requirements, including demonstrating a commitment to community service, meeting a high level of business and ethics standards, and completing a training program designed to highlight the needs of the 50-plus population.
“For 25 years, the industry-leading AARP-branded auto insurance program from The Hartford has been extremely popular,” said Kathy Bromage, vice president, The Hartford. “Much of the success of this program is due to innovative product features and a commitment to truly understand and support our customers. We are thrilled to now be able to offer these benefits with our independent agent partners.”
Jay Wallace, president of Allegheny Insurance, said he was pleased to add the new line to Allegheny’s customers.
“This is a wonderful partnership because research by The Hartford shows the majority of AARP members prefer the advice and counsel of a local agent when making decisions about their insurance,” Wallace said. “Allegheny Insurance agents offer outstanding, personalized service and now also can offer this outstanding product to qualified clients.”
The AARP-branded auto insurance program is designed in consultation with The Hartford Advance 50 Team, which helps to tailor our products and services specifically to the interests and needs of Baby Boomers and mature adults. Other unique hallmarks of the program include:
- Lifetime continuation agreement – assures that the customer’s insurance policy will not be dropped as long as a few simple requirements are met.
- RecoverCare – helps customers pay for assistance with daily errands and responsibilities, like cooking, cleaning, shopping, dog walking, transportation and yard work if they are injured in an auto accident.
- Standard 12-month rate protection versus the traditional six-month policies offered by most companies.
Wallace said the values of the Hartford and AARP track perfectly with those practiced by Allegheny.
“Our state and region include a high percentage of mature residents,” he said. “This new partnership will be particularly helpful to our clients.”
Allegheny, an independent insurance agency, has been providing personalized options to people since 1893. The firm offers a full line of options for personal or commercial customers, including auto, life, health, long-term care, disability, general liability, workers’ compensation and many more.
For more information about Allegheny Insurance Services, visit www.alleghenyinsurance.com.
About The Hartford
Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world’s most ethical companies. More information on the company and its financial performance is available at www.thehartford.com
About AARP Financial Inc.
In 2005, AARP Services founded AARP Financial Inc., a wholly owned taxable subsidiary that manages the provider relationships for and performs quality control oversight for the financial products that carry the AARP name, including credit cards, auto and home, mobile home and motorcycle insurance, and life insurance and annuities. AARP Financial also provides access to proprietary investment products and services, including mutual funds and financial guidance, designed to meet the needs of investors at any life stage.
About AARP
AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 34.5 million readers; AARP Bulletin, the go-to news source for AARP's 40 million members and Americans 50+; AARP Segunda Juventud, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
July 28, 2011
ALLEGHENY EXPANDS OPTIONS Allegheny Insurance has added Cincinnati, Motorists Mutual, Farmers and Mechanics and GuideOne insurance companies to their already extensive line of carriers, providing customers around West Virginia an even broader array of options.
Allegheny, an independent insurance agency, has been providing personalized options to people since 1893.
“Our status as an independent agent allows us to seek out the best options for our customers,” President Jay Wallace said. “Even more important than our insurance partners, however, are our people. We provide personalized service that ensures you get the coverage you need – no more and no less.”
Allegheny Insurance serves people from offices in Elkins and Beckley, with customers located around West Virginia. Wallace stressed that Allegheny and its people understand that no two customers are the same and no two insurance policies should be either.
“We tailor policies to fit individual needs and lifestyles,” Wallace said. “We don’t just take information over the telephone in 15 minutes or have you fill out an Internet questionnaire. We build relationships and get to know people and their specific requirements.”
Allegheny’s new carriers will help do that, Wallace noted.
Cincinnati is a solid and stable company offering multiple lines of insurance including commercial lines, bond and executive risk, machinery and equipment coverage, personal lines, excess and surplus and life, as well as leasing and financing services through affiliated companies. They have access to a broad range of products allowing Allegheny’s customers to tailor unique, value-added packages.
Motorists, headquartered in Columbus, Ohio, is a major regional insurer that operates in a market of more than 46 million people with a network of more than 4,000 independent agents. It is the lead company in The Motorists Insurance Group and is composed of 10 property and casualty, life and brokerage companies.
Allegheny Insurance is proud to offer Farmers and Mechanics Property and Casualty insurance, which represents over 450 licensed agents with more than a 130 independent agencies throughout the state of West Virginia.
Backed by 64 years of proven success, GuideOne will be a value added carrier to Allegheny’s line of partners. With more than 43,000 commercial customers and 127,500 personal lines customers, GuideOne has the experience and risk management solutions to meet our customer’s needs.
Allegheny Insurance offers a full line of options for personal or commercial customers, including auto, life, health, long-term care, disability, general liability, workers’ compensation and many more.
“Selecting the appropriate coverage can seem intimidating at first,” Wallace said. “We work closely with people because we realize it’s not their job to be experts in insurance. That’s our job.”
There are other advantages to doing business with a company such as Allegheny Insurance. The firm is based in West Virginia and supports its local communities in a number of ways.
“We’re right in your back yard, and we’re easy to reach 24 hours a day, seven days a week,” Wallace said. “We have the experience you need and the personal touch you deserve.”
For more information on Allegheny Insurance and its full line of carriers or to set up an appointment, visit www.alleghenyinsurance.com or call 1.800.628.7794.
January 31, 2011
BRICKSTREET INSURANCE GARNERS A.M. BEST RATING OF A-, rating places company among the most financially secure insurance providers in the nation.
Charleston, W.Va. - Officials with BrickStreet Insurance today received notification that the company has earned a rating of A- from A.M. Best Company.
A.M. Best is a full-service credit rating organization, which serves the financial services industry and focuses on the insurance sector. Policyholders and depositors refer to the organization's ratings and analyses to help assess the financial strength and creditworthiness of risk-bearing entities and investment vehicles.
According to BrickStreet President and CEO Greg Burton, A.M. Best cited the company's robust surplus, reserving methodology, investment strategy, loss control policies and procedures as key features that made the A- rating possible. BrickStreet's rating places the company among the most financially-secure insurance providers in the nation and indicates it has excellent ability to meet its ongoing insurance obligations.
"When we started out on the road to privatization five years ago, one of our primary goals was to earn this rating from A.M. Best. This designation is evidence of BrickStreet's strength and viability as an insurance provider. We have achieved this success in a market where the aggregate workers' compensation rates have decreased by 40 percent since 2005. And we reached this point during one of the most severe economic downturns in our nation's history," Burton said.
"This rating is truly a testament to the hard work and dedication of BrickStreet's staff. I cannot say enough about our staff's commitment to our customers and their employees. Additionally, I am proud of the sound decision-making by our board of directors and the fiscal responsibility of our top management," he said.
Burton added, "This is also an endorsement of our BrickStreet 360° approach to serving policyholders, our dedication to minimizing losses through our comprehensive safety and loss control services, and our commitment to making sure injured workers receive the care they need and deserve."
"This is a historic day for BrickStreet. An A- rating from A.M. Best confirms that BrickStreet is a strong, financially-secure company," said Tom Flaherty, chairman of BrickStreet's Board of Directors. "We have spent the last five years building a company where our policyholders are valued and the care of injured workers is a top priority. I am proud to be associated with this organization."
BrickStreet began its historic role as West Virginia's first private worker's compensation carrier Jan. 1, 2006. Since that time the company has worked closely with West Virginia Insurance Commissioner Jane Cline and her staff in their charge to privatize the state's workers' compensation system. This included adopting NCCI's class codes and rate setting structure.
"I am very proud that a West Virginia-based insurance company has received such a high rating from this organization. A.M. Best is well known for its evaluation of insurance companies and rating financial stability," said Commissioner Cline. "The A- rating is an endorsement of not only BrickStreet, but also the privatization of West Virginia's workers' compensation system as a whole."
BrickStreet is a leading provider of workers' compensation insurance and writes coverage in West Virginia, Virginia, Kentucky and Illinois. As a mutual company, BrickStreet is owned by its policyholders. For more information, visit www.brickstreet.com.