Obviously Luck is excited

The NFL Scouting Combine is in town this weekend, but the public’s invitation got lost in the mail. Indianapolis is on the clock with the first pick in the draft and the countdown to April 26th is still pretty far away. I’m sure the armchair scouts for the Colts would love to get their eyes on Andrew Luck, Robert Griffin III and friends this weekend if they were given the opportunity. It’s the middle of February in Indiana! What else do we have going on? Charge $5 and give us all the opportunity to watch some elite athletes do their thing. C’mon NFL!

The other big happening this weekend is the NBA All-Star game. The Pacers are sending Roy Hibbert to the “game” and Paul George is also heading to Orland to lend his talents to the dunk contest. The Celebrity game is tonight on ESPN at 7PM. Saturday night is skills night on TNT starting at 8:30PM. Skills night includes the dunk contest, 3-pt contest and the skills challenge. The All-Star game is Sunday night at 7:30PM on TNT.

Two major releases are hitting your hometown theaters this week. First up we’ve got a comedy starring Jennifer Aniston and Paul Rudd. It’s an R-rated deal from Judd Apatow and friends (40 Year Old Virgin and Knocked Up). It’s called Wanderlust and people think it’s pretty funny. The second new film this weekend is Act of Valor. It stars active duty Navy Seals and is an action flick. It’s not getting the best reviews but has some great actions sequences. It’s a solid second option if you’re not in the mood for Wanderlust. Don’t expect to see it on top of the box office come monday though.

Is your business prepared?

You leave your company open to financial disaster if you fail to have a contingency plan in place. This is especially true if you are forced to close operations for any period of time. Failure to prepare a  proper plan to cope with a disaster situation can also lead to lawsuits from clients, vendors or employees claiming negligence.

Be sure to discuss terrorism and applicable natural disaster coverage with your independent insurance agent. Some of the things we like to address are listed below. A proper disaster plan can also reduce your total loss if you have a claim and gives your insurance carrier all the more reason to provide you with preferred rates.

• Keep copies of insurance policies and other critical documents in a safe and accessible location (e.g. a fireproof safe).
• Evaluate which disasters are most likely to occur in your area, remembering to include the possibility for terrorist activity. Be sure you are prepared for all of the risks you identify.
• Develop a Disaster Recovery or Business Continuity Plan. If you already have one make sure that it is up-to-date. This entails preparing for anything that disrupts your business operations and planning for a backup option. You may consider identifying backups for essential operations, supply chains, personnel, business functions, data processes and communication channels.
• Review your policy for off-site backup of EDP records. Ideally these records should be backed up and transmitted or sent off-site on a daily basis.
• Have telephone call lists available (include cell phone and pager numbers) for all key personnel so required staff members can be contacted during non-working hours from any location. Review procedures for notifying employees that your facility is closed. Remind employees that they should never attempt to enter areas that are closed by police or other emergency responders.
• Consider establishing an alternate method for your phone service if the switchboard becomes unusable (e.g. forwarding incoming calls to a cell phone or remote number).
• Check available emergency supplies such as flashlights, batteries, emergency generators/fuel, patching materials such as plastic sheeting, wood 2x4s, duct tape, spare fire extinguishers, first aid kits, etc.

Nobel Peace Prize Winner

We must learn to live together as brothers or perish together as fools. -Martin Luther King Jr.

Spring can be a bummer.

Flooding is a risk to any property, whether you are inland or near the coastline. In fact, one in four businesses that shuts down from a natural disaster never reopens, and more than 80 percent of all presidentially declared natural disasters involve flooding. According to the U.S. government property damage due to flooding usually adds up to more than $6 billion annually.

Floods have many causes and can occur anywhere in the country, but here are some of the most common events that lead to flooding:
• Storm surges in hurricane-prone areas.
• Flash flooding, caused by periods of intense rainfall.
• Mudslides, caused by long, heavy rain periods on a hill or mountainside.
• Snow melt, caused by the still-frozen ground unable to absorb excess water.
• Ice jams, when an ice chunk flowing in a river or stream blocks, dams or narrows passageways, causing overflow.
• Urban development, such as new construction and or ground paving, which alters the topography by not allowing the land to drain properly.

You should be aware that a general policy will not cover flood damage, and this type of insurance is only available through the National Flood Insurance Program (NFIP). The NFIP will cover all the types of floods discussed above, including mudslides, though it is important to note that it does not cover landslides even if they are caused by heavy rain. To make sure you get a fair price, every commercial flood agent answers to this government agency; therefore, flood insurance is backed by the government but sold through private insurers.

There are plenty of misunderstandings about flood insurance. We have compiled some information about the NFIP and its coverage to help you realize its benefits.

NFIP Coverage: Who Should Buy It?
If your property is in a high-risk flood area and you have a mortgage from a federally regulated or insured lender, then you are required to purchase a flood insurance policy. However, the NFIP reports that in 2008, a third of all claims paid were for policies in low-risk communities. Because new land development can increase flood risk by changing natural runoff patterns, it is a good idea to purchase flood insurance even if you are not near a large body of water.

Most of Indiana sits in a moderate-to-low risk area when it comes to flood risk (you can check your risk at floodsmart.gov) and qualifies for coverage at the preferred rate.  Preferred rate policies are the lowest premiums available through the National Flood Insurance Program (NFIP).  This policy will protect your house and its contents starting as low as $129 per year.  It takes 30 days after purchase for a flood policy to take effect, so don’t wait until the water starts rising.

Time to restart the Pacers v. Knicks rivalry?

Are we all comfortable saying that Jeremy Lin is legit? The Knicks took down the defending champs (Dallas) on Sunday and bounced back from their first loss since Lin became a starter. Jeremy is basically averaging a double-double over the last nine games (9.2 assists and 25 points) since he began his meteoric rise against the Nets on February 4th.

The Pacers have struggled the last couple of weeks with their first losing streak of the season that finally ended at five with a win against the Nets last Thursday. They will host the Knicks in the Fieldhouse on March 17th and I doubt I’m the only person excited at the prospect of returning to the old Knicks vs Pacers rivalry of the 90s. The All-Star break is Wednesday and both squads are in the position to make the playoffs leading to the possibility that they will once again meet in the Eastern Conference playoffs.

I know it’s a little early in the season to talk about the PGA, but did anyone see the final round of the Northern Trust Open yesterday? Watch for some highlights, because it was a great finish. Let’s just say it ended in a three-man sudden death playoff on a 45 ft putt after two holes. Check out the write-up over on the PGA’s site.

The best of the rest:
Kravitz on Purdue’s Tough Decisions
Derrick Rose returns tonight
ESPN Editor axed over Lin headline
Colts on the clock: Luck or Griffin

We all get pumped for the weekend.

The Pacers finally snapped their first losing streak of the season and Peyton Manning is still a member of the Indianapolis Colts. Roy Hibbert and friends are three games away from the all-star break with two games against Charlotte (home game Sunday at 6PM) and a game against New Orleans next week. Their ugly streak of 5 losses in a row and the amazing momentum that Jeremy Lin has sparked in the Knicks has put the Pacers near the bottom of the pack as the 6th seed in the hypothetical playoffs.

Peyton’s situation is much less happy looking and at least twice as hypothetical. The media consensus seems to be that Peyton is done in Indianapolis. Jim Irsay (Colts Owner) showed his hand this week by claiming that he was interested in renegotiating their current contract with Manning. This contract negotiation would likely be highly incentivized, meaning that Peyton would have to perform if we wanted to get the big money that he has been paid in the past. The question of whether he will even play in the league again remains unanswered. All we know is that Peyton has always wanted to finish his career in a Colts jersey and that Indy feels the same way.

The Friday after Valentine’s Day is not typically a big release day, and that pattern is holding true this weekend. It’s a great weekend to be a Nic Cage fan though. Ghost Rider: Spirit of Vengeance is the only major release this weekend. It’s not getting great reviews but it’s got the two most important ingredients of a Nic Cage movie (according to Saturday Night Live). 1) Everything is on fire and 2) All of the dialogue is whispered or screamed.

You could also go check out This Means War starring Reese Witherspoon and Chris Pine. Critics didn’t seem to like it, but the previews look good and the public seems to be good with it. The Vow came out last week, but we’ll give it another bump since it topped the box office. Channing Tatum is in it and his wife in the movie has an accident that leads to amnesia. You probably won’t hate this movie if you’re still interested in seeing it after reading that.

That’s all we’ve got for this week. Have a great weekend everybody!

Legislative Update

Health care reform continues to bring changes for employers and health plans. Here’s what employers need to know for 2012.
• Determine whether you have a grandfathered plan, and whether your plan will maintain that status in 2012. If you make certain plan changes, the plan is no longer grandfathered. If you have a non-grandfathered plan, it must comply with various health care reform provisions.
• The deadline to provide a Summary of Benefits and Coverage (SBC) was extended until final regulations are issued. The former proposed deadline was March 23, 2012. It is unknown when final regulations will be issued.
• Once the SBC requirement becomes effective, plans must provide 60 days’ notice of any material modifications to the plan that are not related to renewals of coverage.
• For non-grandfathered plans starting on or after Aug. 1, 2012, certain women’s preventive health services must be covered with no cost sharing.
• Fully insured plans may receive rebates in August 2012 if they qualify for one under the new medical loss ratio rules. The rebates must be used for the benefit of plan members, which may include reducing enrollees’ premium payments.
• Beginning with the 2012 tax year, employers who issue 250 or more W-2 Forms must report the aggregate cost of employer-sponsored group health coverage on employees’ W-2 Forms. The cost must be reported beginning with the 2012 W-2 Forms, which are issued January 2013. The requirement is optional for smaller employers until further guidance is issued.
• If your state previously required you to impute income for covering dependents up to age 26, check for changes to your state’s tax code. All states should now conform to federal tax law, which permits this coverage to be provided tax-free.
• Self-funded plans must pay a $1 per covered life fee for comparative effectiveness research. Fees are effective for the first renewal after Oct. 1, 2012.
• Small employers that qualify for the tax credit provided by health care reform can claim it by filing Form 8941 with their annual tax filings. Employers with fewer than 25 employees and who pay average annual wages of less than $50,000 generally qualify.

Author and Motivational Speaker

“Winners are not afraid of losing. Failure is part of the process of success and those who avoid failure also avoid success.” -Robert Kiyosaki

Nothing says "Love" like an Umbrella Policy.

Question from Robby H.:
My insurance agent is always trying to sell me an umbrella policy.  Is this something I should consider adding?  It just seems like an extra cost.

Response from Ryan Samuelson:
It sounds like you have a good agent.  I always encourage my clients to at least consider adding the extra layer of liability protection that an Umbrella/Catastrophe policy will add.  An umbrella policy is really all about having the peace of mind in knowing that your family and assets are protected.

There are many ways to end up with an umbrella claim but the most common umbrella claim is an auto accident involving multiple injuries and very costly medical bills.  The other common claim is an incident on your property that results in injury.  Medical and legal costs can eat up the underlying limits of your homeowner, auto, boat or motorcycle policy pretty quickly.  Your umbrella policy or your personal assets cover these costs when your policy limits are exhausted.

This is definitely a topic you should discuss with your independent insurance agent to make sure you are protected by a level of coverage that you are comfortable with.  Most people should be pretty comfortable with a coverage limit of one million, but limits over ten million are available if you are looking for higher limits.

I don’t want to say that umbrella claims are unpreventable, but they are the type of claims that happen no matter how prepared you are.  There are some things that make a claim more likely, such as having a pool, living on a lake, having a young driver, owning a boat/ATV/snow mobile (basically anything fun).  Instead of talking about prevention this week, I want to show a couple of claim scenarios to illustrate how an umbrella policy will work.

Scenario #1: The insured’s son was driving his car on a short road trip with a friend, the claimant.  The car drifted off the road and into a phone pole when the son fell asleep at the wheel.  The passenger was hospitalized for over a month with broken bones and internal injuries.  The hospitalization was followed by some time in a wheelchair, but he was able to walk again after six months of physical therapy.  This claim cost $800,000 with $300,000 coming from the auto limits and $500,000 coming from the umbrella limits.

Scenario #2: The insured is having a summer barbeque and one of the guests steps off the edge of a retaining wall resulting in a spinal cord injury.  He required multiple surgeries, an extended hospital stay and physical therapy.  This claim cost $1.8 million with $1 million coming from the homeowners limits and $800,000 coming from the umbrella limits.

We've got an All-Star!

The NFL season is over and it’s time to get back to basketball (until the next Peyton Manning news update). The NBA All-Star break is just over a week away and the Pacers are suffering from a Super Bowl hangover or have checked out early. They lost two in a row for the first time all season last week and stretched it to three in a row with a disappointing loss to Denver on Saturday. Two days of rest is definitely appreciated with Dwayne Wade and company coming to town tomorrow night with no interest in making V-Day a happy one for the Pacers (Lebron has to show up in the playoffs before he gets top billing over Wade).

Indiana got smoked by the Heat 83-118 way back on January 4th. Since then, they have taken down many of the best teams in the league with wins against the Lakers, Celtics, Bulls and Magic. Roy Hibbert was also called up to represent the Eastern conference in the All-Star game. They’re still the 5th seed in the current standings and should be able to make the playoffs if this hiccup doesn’t turn into a full-blown mid-season collapse.

College Basketball season is in its final weeks and the Hoosiers and Boilers are sitting at #5 and #6 in the Big Ten rankings. The Big Ten season will wrap up in Indianapolis on March 11th and both squads have a realistic shot at being in the game. I would give the team that wins in Bloomington on the 4th of March a major edge though. Purdue is on the road against Illinois on Wednesday and hosts Michigan State on Sunday. The Hoosiers host Northwestern Wednesday and head to Iowa on Sunday.

The best of the rest:
Lefty gets 40th tour win
Rondo leads the Celtics over Chicago
Where did LINsanity come from?
Kravitz on the Hoosiers