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May storms carry a $109 million price tag

May storms carry a $109 million price tag

Thousands of Colorado homeowners and drivers have spent the past few weeks meeting with  insurance adjusters, along with car repair shops and roofing contractors getting “the fix” on Mother Nature’s latest round of damaging hail, wind and flooding. The series of May storms have caused an estimated $109.3 million in insured losses resulting from 28,442… Continue Reading May storms carry a $109 million price tag

Catastrophe insurance

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Catastrophe insurance

Protections are available for local consumers in wake of floods, fires One draw of Colorado living, some would say, is the endless variety. The suburbs, the city, the country, the mountains and the plains; living here means there’s something for nearly everybody. But living in Colorado also means preparing for challenges as unique as the… Continue Reading Catastrophe insurance

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Colorado ranks high in catastrophic claims

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Colorado ranks high in catastrophic claims

As a result of wildfires and hailstorms, Colorado has found itself in the top 10 states in the nation for filing catastrophic insurance claims. A catastrophe is defined as a natural disaster that produces more than $25 million in insured damage. “We are seeing homeowners insurance premiums rising across the country and here in Colorado,”… Continue Reading Colorado ranks high in catastrophic claims

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Schaefers keep promises, make new ones

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Schaefers keep promises, make new ones

One of the older businesses in town with uninterrupted family ownership, Schaefer Agency has been around more than 60 years as an independent full-service insurance agency. “Most of our business is word-of-mouth,” said owner John Schaefer. “If we take care of our customers, they sell more than we do.” Schaefer’s dad Jack started the company… Continue Reading Schaefers keep promises, make new ones

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Workers comp rate increase en route

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Colorado employers will see a small increase in workers’ compensation insurance premiums next year. The increase–within the loss-cost component of the insurance–will be half of what it was last year. The Colorado Division of Insurance announced that the “loss costs” component of workers’ compensation premiums will go up 2.6 percent next year. The increase this… Continue Reading Workers comp rate increase en route

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Tough adjustment: Health care providers having trouble with TriCare referrals

Three months ago, UnitedHealthcare took over the TriCare contract from TriWest Healthcare Alliance for the 21-state western region. But after that change took effect April 1, few providers were prepared for what happened next: lack of referrals, slow payments, new billing codes, new requirements and reduced services. In Colorado Springs, Alpine Autism Center says UHC… Continue Reading Tough adjustment: Health care providers having trouble with TriCare referrals

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A health care pilot project could make Colorado Springs a magnet for businesses seeking to lower health care costs. The project seeks to bundle payments for chronic illness in an effort to lower costs for companies that self-insure employees. Self-insured employers pay for the bulk of employees’ health care costs themselves, and then use a… Continue Reading Local pilot project could be economic driver

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The Colorado General Assembly is considering a bill to regulate stop-loss insurance and attempt to stabilize the small-group market. It’s good news for most small businesses with traditional insurance, but could leave a handful of small businesses paying more money. House Bill 1290 also seeks to end a practice common in the stop-loss market —… Continue Reading Legislation seeks to stabilize insurance market

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Hail, not fire, to blame for insurance rate hikes

After the Waldo Canyon fire tore through Colorado Springs, burning 346 homes and threatening hundreds more, homeowners were certain they’d see their insurance premiums increase. And they are, but not because of the fire. It’s because of the growing number of what the insurance industry defines as “catastrophes,” which has been mostly hail in recent… Continue Reading Hail, not fire, to blame for insurance rate hikes

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Progressive Insurance is hiring 72 people in Colorado Springs for call center and sales jobs. A company official said Progressive was recruiting new hires here because it considers the local facility as one of its more permanent offices. “We’ve had great success in the Springs,” said Connie Dingeman, recruiting manager. “Our backup IT servers are… Continue Reading Progressive to hire 72 in Springs

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