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All
About Audits
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Stacy
Sanders
|
from Stacy Sanders
Exactly what is an audit and
when do
you do them?
All
workers’ comp policies are subject
to an audit at the end of their term. When
a policy expires or is cancelled, we order
an audit. What happens next depends on
the size of the policy. For most policies
with
a value under $5,000, we send out self
audit forms and ask the insured to fill
these forms
out and send them back to us. But for policies
with a value over $5,000, we have a physical
audit performed by an independent auditing
company. Recently we switched from using
several different companies in various
states to using one large company, Overland
Solutions,
to do all our physical audits.
more>>>
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December
Birthdays |
| Charlene
Betz |
11
|
| Stacy
Sanders |
13
|
| Rhonda
Melvin |
18
|
| Carl
Legate |
30
|
| Elaine
Senner |
31
|
| |
January
Birthdays |
| Edward
Glenn |
19 |
| Kattie
McGrane |
20 |
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|
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| AMIC
Written Premiums
November 2004
|
AMIC
Loss Ratios
as of 11/30/04
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Colorado
Forecasters Predict
Above Average Hurricane Activity For 2005
 |
Hurricanes
Prove A Destructive Force
|
The
forecast team at Colorado State University
is predicting above-average Atlantic basin
hurricane activity again for next year, but
doesn’t expect the large number of intense
hurricanes or landfalling storms that occurred
in 2004, one of the most intense and destructive
hurricane seasons on record.
Eleven
named storms will form in the Atlantic basin
between June 1, 2005, and Nov. 30, 2005, according
to William Gray, Philip Klotzbach and the team,
which on Dec. 3 released their first extended-range
forecast for the next hurricane season. The
team expects that six of the 11 storms will
become hurricanes. Of those six, three are
expected to develop into intense, or major
hurricanes, which are category 3, 4 or 5 on
the Saffir/Simpson scale, with sustained winds
of 111 mph or greater.
The
2004 season saw 15 names storms, nine hurricanes
and six intense hurricanes, the team said.
more>>>
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CGH's
Simple IRA
CGH
established a retirement plan in 1997 for all
full-time employees. This plan, called a SIMPLE
IRA, establishes an individual account for
each participating employee allowing them to
save for retirement, with contributions partially
matched by the Company. The SIMPLE IRA funds
are invested in mutual funds of the American
Funds group of funds.
The
November 15, 2004 edition of the Wall Street
Journal featured an article complimentary of
American Funds, especially for its conservative
investment philosophy. The article touts the
funds’ conservative investment strategy,
which helped to mitigate losses following the
burst of the technology bubble in 2000. Also
mentioned was the American Funds “below-average
fees—in many cases 50% less than those
levied by similar funds, according to research
firm Morningstar, Inc.” For more information
on the CGH SIMPLE IRA Plan, please call Linda
Tucker in the home office. |
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December
Anniversaries |
| Carl
Legate |
2
years |
| |
January
Anniversaries |
| Durbin Christner |
15
years |
| Charlene
Betz |
8
years
|
|
Natalie
Becker
|
5
years
|
| Kathy
Burke |
5
years
|
| Mike Carney |
4
years
|
| Mike
Stanley |
4 years |
| Steve
Glenn |
2
years |
World
Trade Center Jury Finds Insurors Must Pay
for Two Attacks
A New York jury agreed with World Trade Center
leaseholder Larry Silverstein that the attack on
the twin towers by a pair of hijacked planes was
two insurable events, requiring nine companies
to pay as much as double their policy limits. The
question of liability ultimately turned on the
interpretation of the wording contained in a binding
form, which did not contain the restrictive definition
of an occurrence.
The
win opens the door for Silverstein to get
up to $1.1 billion more on top of a minimum
payment of $3.55 billion. The developer said
before
the trial it would cost about $7.5 billion
to replace all 10 million square feet of
offices lost in the
Sept. 11 attacks. The actual amount of loss
is also in dispute with a specially appointed
arbitration
panel engaged in trying to determine the exact
amount.
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Holiday
Lunch Parties
|
| All
branches |
December
17
|
|
|
Holiday
Office Closings |
| Afternoon |
December
17
|
| All
Day |
December
24
|
| All
Day |
December
31
|
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