By Ed Sneineh

Chicago Car Dealers Insurance, Issues And Prices

Do all used car dealers need insurance?

Definitely. All new and used car dealerships will need to have some sort of garage insurance policy that must be filed with the state by the insurance carrier. A cancellation of their insurance policy will end up in a suspension of their business license granted to them by the state. Used car dealers insurance in Chicago is the law.

What form of coverage do you need?

Necessary Coverages:

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Car dealers need a garage liability policy covering the business as well as the workers, sales persons of your business (who must also be listed on the policy) in the events your business conduct as a car dealer result in damages to the properties of others or harm to their body. Neither you, nor officers of your business, or employees are covered under any bodily injury or property damage coverage provided by the garage liability. The minimal level of garage liability insurance in Illinois is a split limit of $100,000/300,000/50,000, also expressed as [100/300/50]. These numbers stand for the max totals that your insurance company will spend on your behalf for bodily injury per person, bodily injury per accident, property damage per accident; correspondingly; in the event that you, your business officials or reported employees cause any at fault accident in relation with your dealership actions. Certain companies offer this minimum as a Combined Single Limit (CSL) of $350,000 bodily harm and property damage per accident, which is normally more expensive than the split limit. Used car dealers that operate larger operations should be worried about liability limits. The author suggests a million dollar as a combined single limit.

Price of garage liability relies on many issues including limits of garage liability insurance, geographical location, number of dealer plates (some companies verify it with the state); and number, ages, MVRs of each operator listed on the policy. A used car dealer insurance policy with minimum plates and most desirable conditions to the issuing company will be approximately $3,000 per year in the City of Chicago. It is less expensive in the suburban areas of Chicago. Nevertheless, extra discounts may apply such as experience with no loss. Also there might be more surcharges if there are younger drivers or if you have employees with not good driving records.

Sometimes the City of Chicago may also ask you to show a evidence of driveway insurance. Typically it is set at $1,000,000 by the City. Certain garage policies issued at lower liability limits in the City of Chicago may be endorsed, for a minimal additional charges, to satisfy the requirements of the City of Chicago. Nevertheless in other conditions, you might need to get a separate policy for that if your policy does not provide that protection.

Illinois Workers Compensation is a very important coverage, one that is also very well missed by car dealerships. You need workers compensation for your dealership in order to meet your legal and moral obligations towards your company and staff. Officers and owners of the organization have the option to include or exclude themselves from workers compensation coverage. In case they want to be excluded (perhaps they get wage and do not do any real work at the dealership) they have to sign some exclusion form. Keep in mind that no employees/contractor/ officer of the dealership is protected for bodily injury in connection with any at fault auto accident related to the measures of the dealers. Coverage for employees for these situations are delivered under a workers compensation policy.

Workers compensation premiums are based on how much salary you will pay in the next 12 months. It has nothing to do with the past. People covered include all the staff with W2s (must include by law), contractors with 1099 (can be excluded only if you can show that they have workers comp coverage on their own) and directors/ owners of the business except if specially excluded. For independent contractors (i.e. drivers who transport autos from car auctions to dealership) they have be added unless they show you that they have workers comp coverage somewhere else. It is tough to estimate fees of workers comp because it is based on future payroll. For that reason, your insurance company gives you an estimate in the beginning, then it will audit your wage towards the end of the policy term, after which date they will tell the final premium. For that reason, you might be charged extra, or simply get a returned premium, at the end of the policy period for the previous policy!

Bonds: A used car surety bond is normally required for new used car dealer ventures which are less than three years. The value of the bond is $20,000. The bond is some kind of guarantee by the bonding company that the used car dealer will adhere to the guidelines set by the State of Illinois. A major issue related to bond is its price. The price of the bond could vary from $200 to $2,000 depending on the credit of the Principal on the bond (owner / partners of the dealership). The vast majority companies will not issue bonds for people with severe credit troubles. Keep in mind that any government organization may ask for a bond. For example, Cook County Treasurer may require a Chicago used car dealer for a bond to guarantee payments of sales tax! This could be brought on by situations related to the experience of the tax authorities with particular places, old owners of business, or new owners/ officer.

Non Mandatory Coverages

There are some optional coverages that used car dealership may be interested in, based on their wants.

Dealer Open Lot refers to the collision and comprehensive coverages on dealer owned autos. There is normally a limit set on coverage per auto. So if a dealer acquire a dealer open lot coverage with $150,000 per site, that policy may limit coverage per vehicle of $25,000. Dealers must analyze their policies.

One of the source of trouble is related to the Coinsurance Penalty Clause. To reduce premiums, a used car dealer may get dealer open lot coverage of $100,000 on his/her lot which has $400,000 of used cars. The coinsurance penalty ratio is the ratio which is used to figure out if a particular dealer is properly insured or not. Coinsurance percentages range from 80% to 100%, and they are normally stipulated on the policy declaration page. In the previous scenario if the customer has 80% coinsurance, then the dealer must keep at least $320,000 to be rightly insured. If the dealer maintains lower than that amount, then the company will provide only partial payments on the claims made, because the client was paying partial payments in relation to what he/she was supposed to should have paid. The amount the company will pay is based on the rate of what the customer currently has [100,000] divided by the minimum that was supposed to be carried [320,000]. In other words, the insurance company will pay about 31.25% [100,000/320,000] of any potential claim, after the deductible!

Your business also needs Garage Keeper Liability, if you work on autos that you do not own, such as customers who bring their cars for minor repair work. Vehicles that you do not own require physical damage coverage (comprehensive and collision) with certain deductible ($500 to $1,000). Garage Keeper Liability insurance is not needed if the dealer does not perform any maintenance or repair work on vehicles they do not own. Garage keeper liability is not an expensive coverage and is based only on the amount of coverage you need. Normally the minimum amount is $25,000 per car. The difference between $25,000 and $50,000 in coverage is very minimal. You can tell how much you need by knowing the average value of all automobiles that exist on your lot which you do not own.

There are other elective coverages that used car dealers may need. These include coverage on Building, Business Property, Security, Business Income, Crime (Robbery etc.) and some forms of Professional Liability.

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Former South African apartheid regime’s police minister repents

Monday, September 4, 2006

Adriaan Vlok, the former South African apartheid regime’s police minister, went to Reverend and director-general Frank Chikane’s church in Soweto on Sunday, the 3rd of September to repent. This follows his recent apology on the 3rd of August, 2006, which was described by some as “a miracle” that has had global impact.

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Space Shuttle Atlantis set for June 8 launch despite worker strike

Sunday, June 3, 2007

After having its launch delayed three months due to damage caused by hail stones during a storm, Space Shuttle Atlantis has been given the green light by NASA to launch on June 8.

“NASA’s senior managers have signed the Certification of Flight Readiness confirming that Space Shuttle Atlantis, her flight crew and payloads are fit to fly,” said a statement posted on NASA’s website.

Atlantis’s main engines, orbital maneuvering system and forward reaction control system was pressurized this past weekend and the crew’s equipment has been put into stowage.

NASA plans to launch Atlantis despite a vote reached by the International Association of Machinist and Aerospace Workers, IAMAW, a union that is representing 570 workers that work with the shuttle program, but according to a union spokeswoman, the strike is not going to affect the launching of Atlantis.

“The bottom line is, a strike would not affect the next launch or the next one after that,” said IAMAW spokeswoman, Tracy Yates. The union voted down a contract because the workers believed that NASA’s wage offer is “substandard.”

Atlantis will deliver equipment to the International Space Station and to make repairs to it. Commanding Atlantis for its mission will be Rick Sturckow and Lee Archambault will serve as Atlantis’ pilot. Mission Specialists James Reilly, Steven Swanson, John Olivas and Flight Engineer Clayton Anderson round out the crew to deliver the S3/S4 starboard truss segments, batteries and another pair of solar arrays to the space station.

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By Kyle Gentile

This is a question is being asked more than ever. Are you asking what is a good FICO score? The reason why so many people are asking what is a good FICO score is the use of the FICO score when applying for a mortgage. Lenders use your FICO as a way to determine risk. It helps determine the monthly payment and the interest the lender will give you on a loan. That is the reason why a good FICO score is so important. It could save you thousands.

A good FICO score is usually classed as being above 700. At 700, you will have a score better than the majority of U.S. consumers. To be considered excellent, you will have to have a FICO above 750. The above 700 has a low default rate and lenders usually seek borrows around this level.

To get a good FICO score, you should know how it works. Your FICO score is based on your credit report and the FICO formula weighs several different factors. The two largest portions of your FICO score are your payment history and how much you owe. These together make up 65% of your FICO score and if you can concentrate your efforts these are the two to pick

[youtube]http://www.youtube.com/watch?v=oOpPplYGkz0[/youtube]

Your payment history is 35% of your FICO score and is a measure of your ability to pay on time. There is a direct relation between paying on time and default making it the most important. It might be simple to say pay your bills on time, but people struggle at it. The use of a budget is a must. You need to account each month for your money and how it is being spent. A budget allows you to set aside money to pay your bills and if you follow it you will pay on time.

How much you owe makes of 30% of your FICO score. If you are near limit the percentage of default increases. To improve here, you need to pay down what you owe. It then comes back to a budget. You need to commit yourself to finding extra money each month to pay down the balances. Furthermore, you need to leave the credit the credit cards at home or do something so you are not spending on the cards. This is a struggle but until this stops finding extra money will get you no where. You need to try to reach a level under 10% owed when compared to your credit limits.

These are two simple methods of how to get a good FICO score, but often not practiced. This could be one of the largest money savers in your life time. Even one interest point could equate to thousands of dollars. An important note is lenders can use different formulas when making lending decisions. Meaning that a 700 score might not get as good of an interest rate as a person with a 720. The lesson is to try to have the highest FICO score possible. You need to be excellent if possible.

About the Author: To find out more about, what is a FICO credit score, visit Kyle’s blog FICO authority.com. There you can find all the information you are looking for about what a good FICO score is.

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Japanese researchers create smell sensor using genetically engineered frog eggs

Sunday, August 29, 2010

A University of Tokyo group of researchers, led by bioengineer Shoji Takeuchi, has made an electronic sensor capable of smelling gases. The sensor uses genetically engineered frog cells. Since previous sensors were not very accurate, the scientist decided to try a biological approach. The invention was revealed in a US scientific journal yesterday, and is supposed to be used to design better machines to detect polluting gases in the atmosphere.

Previous smell sensors were based on quartz rods, which vibrate when a substance binds to them. The gases are distinguished by their molar masses, which can be similar for molecules with different structure, thus relatively often triggering a false positive. Trying to find a more accurate solution, Takeuchi decided to follow an example from insect world. As he explained, “when you think about the mosquito, it is able to find people because of carbon dioxide from the human. So the mosquito has CO2 receptors. When we can (extract) DNA (from the mosquito) we can put this DNA into the frog eggs to detect CO2.”

Genes of several insects (the silk moth, diamondback moth and fruit fly), injected into African clawed frog Xenopus laevis eggs, allowed them to produce relatively inexpensive and useful sensors. The choice of the species was caused by their widely studied and well-understood protein expression mechanism.

The modified cells responded to three kinds of pheromones and one odourant, which have similar chemical properties. When a molecule of an odorous substance adhered to the receptor on the membrane protein, ion channels opened for a certain period of time, and a current was generated. Its magnitude was clearly different for all four tested substances, allowing to distinguish between them accurately.

The colleagues embedded the sensor into a mannequin, so that it could shake its head when a gas was detected. It was easier to observe. Pheromones and molecules with quite similar molecule structure produced clearly distinguishable reaction, with higher accuracy than other biological or human-made sensors. As the research group said, the detection sensitivity of the odor sensor is several tens of parts per billion (ppb), and it is as high as the sensitivity of an existing odor sensor that uses an oxide semiconductor. The distinctive feature of the new sensor is its capability to selectively detect some odorous substances, rather than its sensitivity. Very few false positives were possible due to the biological mechanism involved.

At normal temperature, the sensor lifetime is about 12 hours, which can be extended by putting it into a refrigerator before first use.

Shoji Takeuchi says has a great hope for research use in future, since the frog eggs are very practical for genetic engineering, and can be conveniently used to develop smell sensors for a wide range of gases. He said, “The X. laevis oocyte has high versatility for the development of chemical sensors for various odorants. We believe that a shared ability to smell might open a new relationship between man and robot. .. The research will have wide implications… If the sensor is embedded in a nursing robot, it will be able to identify certain mouth odors or body odors. Also, it can be used for detecting CO2, air pollution, water pollution and food. It’s very important for the environment.”

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Wikinews interviews Jeremy Hanke, editor of MicroFilmmaker Magazine

Friday, April 11, 2008

Wikinews held an exclusive interview with Jeremy Hanke, editor of MicroFilmmaker Magazine. The magazine, which is free to read online, was started as a resource for the low budget moviemaker and features book, independent film, equipment and software reviews as well as articles on film distribution, special effects and lighting.

He says that one of the goals of the magazine is to “connect low-budget filmmakers via a feeling of community, as many…..often compete so viciously against one another in film festivals for coveted “shots” with Hollywood, that they can quickly forget their similarities.”

When asked if films made on a shoestring budget can really compete with those made for millions of dollars, he replied, “no…yes…and absolutely. Allow me to explain.” And so he does in the interview below.

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Motorola to launch iTunes mobile phone

Friday, April 22, 2005

Motorola has recently confirmed plans that it will launch an iTunes compatible mobile phone. The firm, which released quarterly results on Friday, revealed that the phone would be available in a few months time.

There had been speculation that the wireless communications giant would scrap the phone after an underwhelming response from US operators, however CEO Ed Zander confirmed the company’s intentions at the results presentation.

The phone, when launched, will allow users to easily download digital music from Apple’s popular iTunes music store onto their handset. The combination of mobile phone and MP3 player is a long awaited example of the much touted “technological convergence” often mentioned by the industry’s CEO’s.

Wikinews will have a reporter live at Apple’s WWDC keynote (when the software is likely to be released) on June 6 to cover the event.

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May

15

Finding The Right Surrogacy Agency Is Vital For Gay Couples

byalex

If you are a gay couple, it may be difficult to find an adoption agency that is willing to work with you and your spouse or partner. Because of this difficulty, many gay couples decide to find a surrogate in California willing to carry their baby so that they can become parents. Some lucky couples may find a friend or even a family member who is willing to act as a surrogate for them. This isn’t feasible for everyone, however.

A growing number of gay men are electing to use surrogacy agencies instead of adoption to become parents. Many surrogacy agencies recognize this and have made a marked effort in making it possible for gay families to find a surrogate in California. As with any service industry, the quality of service varies greatly from agency to agency. It is important for any couple seeking surrogacy to do their homework to ensure that they are well protected. This is even more true for gay couples who wish to find a surrogate in California because of all the social and legal complications surrounding gay relationships and gay families.

Surrogacy laws are extremely confusing and complex. Laws vary greatly from state to state, with some states outlawing surrogacy entirely. Simultaneously, states are incredibly varied on what legal protections are put in place for gay families. In many states, there are none. Many states have passed legislation banning same-sex marriage, and half that number refuses to recognize same-sex civil unions and domestic partnerships. Because the climate surrounding gay issues is so volatile and uncertain, it is even more imperative that gay parents seeking surrogacy be extremely informed and cautious when trying to find a surrogate, even in California, which tends to have more supportive laws surrounding same-sex unions.

Most surrogacy clinics work with surrogate mothers who are spread out all over the country. Matching a gay couple with a surrogate from another state can be risky. At this time, although hopefully laws will change in the future, both states will likely have conflicting laws. Less reputable surrogacy agencies may not understand the consequences of pairing a gay couple from a state in favor of gay marriage with a surrogate from a state strongly against gay marriage. This becomes more complicated if the couple is located in a state in which surrogacy is illegal. Gay parents are advised to be well informed of all of the legal consequences surrounding multi-state surrogacy arrangements before making the decision to find a surrogate in California or elsewhere.

Find a Surrogate California – If you are a committed, loving gay couple hoping to find a surrogate in California, contact The Center for Surrogate Parenting. For more information about The Center for Surrogate Parenting, visit http://www.creatingfamilies.com. To learn about becoming a surrogate, or for general information about surrogacy, call 818-788-8288. CSP in San Diego is located at 3111 Camino Del Rio North, Suite 400, and our Encino location is at 15821 Ventura Blvd. Suite 625.

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May

14

Saudi Arabia fears Hajj swine flu outbreak as four pilgrims die

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Saudi Arabia fears Hajj swine flu outbreak as four pilgrims die
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Sunday, November 22, 2009

As the annual Muslim Hajj pilgrimage to Mecca gets underway, Saudi Arabian authorities have expressed concern swine flu could impact pilgrims. Four, with underlying health issues, have already died.

Two men and a woman in their seventies and a seventeen-year-old girl have died, according to the Health Ministry. The men from India and Sudan, the older woman from Morocco, and the teen from Nigeria. None were vaccinated against the virus.

One died in Mecca, the others in Medina. All had conditions including cancer and respiratory ailments. The World Health Organisation puts the current swine flu death toll at 6,750. Four more people are in Saudi hospitals in critical condition and a further twelve are recovering in hospital.

Each year around three million make the pilgrimage. And, Saudi authorities are concerned about the possible spread of the virus. At least one pilgrimage to Mecca is deemed mandatory for every Muslim capable of doing so. Fifteen thousand extra medical staff are deployed, ports and airports screen incomers with thermal cameras, and hundreds of extra hospital beds have been set aside. Visa requirements specify only those vaccinated against the flu strain can apply.

In September, Egypt forbade hundreds of Muslims from leaving Cairo for the Hajj after an Egyptian woman returning from a more minor pilgrimage last July became the first swine flu fatality in both Africa and the Middle East. For Ramadan, pilgrimage to Saudi Arabia was banned by Iran for the same reason.

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May

12

The Facebook Factor: Using Social Media To Monitor Employees

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By Elizabeth Rice, SPHR

The overwhelming phenomenon of social media sites such as Facebook, MySpace, and LinkedIn has alternately sparked excitement, concern, and controversy among businesses everywhere: excitement about the abundant marketing opportunities these networks provide; concern about the growing lack of image control companies have as a result; and controversy over whether or not today’s employees are spending too many of their work hours socializing online, and fewer hours actually working.

Like it or not, social media is here to stay. And some savvy employers are making the most of it with an “if you can’t beat ’em, join ’em” philosophy toward social networking sites, blogs, online videos, and more. Rather than viewing these outlets simply as a threat to employee productivity and company image, these businesses have begun utilizing social media as a helpful (and free) tool for screening potential job candidates, checking up on new hires, and monitoring current employees.

But are these screening techniques legal? Below is a look at both the benefits and liabilities of using social media to monitor prospects and employees.

Social Media as the New Background Check

[youtube]http://www.youtube.com/watch?v=er2km7Aja1o[/youtube]

It’s long been suspected that employers use social networks to take a “behind the scenes” peek at job applicants, but just how common is the practice? The answer, according to a recent report by CareerBuilder, is very common: nearly half of employers surveyed said they use sites like Facebook, MySpace, Twitter and LinkedIn to research potential hires. Furthermore, 35% of survey respondents said they decided not to offer a job to a candidate based on the content uncovered in these searches. Among the most frequently-cited reasons for not hiring these prospects were the discovery of provocative photos, references to drinking and drug use, poor online communication skills, and online bad-mouthing of previous employers.

Checking prospective hires via social media has become so commonplace, in fact, that it recently inspired the launch of a new startup company called “Social Intelligence.” The company, which launched in September 2010, provides a screening and monitoring service that tracks an individual’s social media activity on various networks, and then screens it for employer-designated red flags like gang involvement, drug use, and demonstrations of potentially violent behavior. According to Forbes, Social Intelligence “is essentially taking the traditional background checks commonly used by corporate HR departments…and moving them online to track social media networks.” The company’s reports filter out legally sensitive information such as sexual orientation, race, or religion, and the data is manually reviewed before being distributed to prospective employers. Social Intelligence’s CEO Max Drucker says that the service helps companies perform due dilligence with regard to hiring and risk management, while protecting prospective employees from discrimination.

And social media monitoring isn’t just limited to job applicants; some companies are using it to check up on current employees as well. Accodring to a 2009 survey from the American Management Association, 52% of U.S. employers have fired employees for email and web violations. Stories are widely circulated about instances when an employee has been disciplined or even terminated for posting negative content about an employer on social media outlets like Facebook and personal blogs. Companies claim these actions provide legal grounds for termination, arguing that such content is damaging to their corporate image and negatively impacts business. Notable examples include the 2009 instances in which employees of fast-food purveyors Domino’s and KFC took video and photos of their unsanitary use of the restaurants’ food and equipment, posted the material on YouTube and MySpace, and caused an overnight uproar (for which all employees involved were immediately fired). Meanwhile, other employees have been caught red-handed when, after calling in “sick” to miss work, they subsequently (and foolishly) posted online updates and pictures of themselves spending the day at a party or on vacation. For example, acccording to New York’s Daily News, more than a dozen Department of Education employees were recently fired for “faking illnesses to take vacations.” Among the clues that tipped off coworkers and administrators were vacation photos the offenders had publicly posted on their Facebook profiles.

Staying Aware of the Legal Pitfalls

Though social media can undoubtedly be used to a company’s advantage, employers must also be aware of some inherent risks that come with exploring this new terrain. Because social media and the so-called “blogosphere” are relatively uncharted territory for the workplace, the law is currently racing to keep pace with what is and isn’t legal when it comes to screening, while large companies are hurrying to develop written employee policies pertaining to social media. The good news is that, for now, much of the judgment about social media falls in favor of employers. A recent report by the Ocala Business Journal attests that checking social media sites and making subsequent hiring or termination decisions about employees and prospective hires is well within a company’s legal rights, because an employee could potentially affect an employer’s reputation. According to the article, “employers doing background checks [often] ask if it’s legal to check social media sites to find out more about potential employees. It is.” Employees questioning the validity and legality of these searches are typically told that, although the actions posted online may have been performed off the clock, they still have the capacity to affect a company’s reputation. “One major impact of social media is the line between professional and personal lives has blurred,” the article says. “Social media is impacting hiring as well as termination.” Likewise, Social Intelligence CEO Drucker attests that his company’s methods are compliant with the Fair Credit Reporting Act, and that the onus falls on the employee or job seeker to use discretion in posting anything online. “People need to exercise good judgment and understand that what they post publicly is public, and an employer has a right to know about it,” he says.

When it comes to searching an employee or prospect’s social media presence, the legitimate risk for employers lies in potentially violating anti-discrimination and privacy laws. According to the National Law Review, “an employer’s examination of an employee’s or potential hire’s social network sites may provide the basis for claims under employment discrimination statutes if the employer used [these] methods to seek out information that was legally protected in some way.” Such legally protected data includes religion, ethnicity, political affiliations, gender, or sexual orientation: all information that is readily available on many Facebook profiles. “If plaintiffs can show that they were discriminated against in the hiring process, or wrongfully terminated based on information gleaned from updates on Twitter, pictures on Facebook, or accounts on their personal blogs,” the National Law Review asserts, “the employers will surely be held liable under the pertinent anti-discrimination statutes.”

Another employer risk is gaining information online by engaging in what is known as “social engineering:” manipulating an individual into granting access to his or her otherwise private online networks. When it comes to social media, examples of these spy techniques might include trying to “friend” an individual on Facebook for the purpose of looking at his or her otherwise private, personal information, or requesting access to a password-protected blog not accessible to the general public. In these cases, an employee or prospective hire may allege that such actions constitute an invasion of privacy, since the employee or applicant has demonstrated a reasonable expectation of privacy with respect to their social media accounts by protecting them with passwords and making them accessible on a case-by-case basis.

In summary, employers who aren’t already doing so may want to begin exploring social media as a potential vetting tool, while keeping in mind that the laws pertaining to these practices could change as social media continues to find its place in the workforce. Perhaps more importantly, employees and job seekers should pay careful attention to what they choose to share publicly online, taking to heart the old adage that “some things are better left unsaid” – or, in this case, unposted.

About the Author: Elizabeth Rice, SPHR, is the President of Innovative Employee Solutions , a San Diego-based company specializing in nationwide payroll and HR administrative services for the contingent workforce. Ms. Rice has more than 25 years of experience in HR and executive management.

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