Congratulations to United Senior Services on the opening of their new outdoor patio! Fun fact: the wrought iron fencing used is from the Crowell-Collier building, once the printing home of the world’s largest magazine publishing company, and where P.J. Miller's grandfather Peter Dennerlein served as VP & Plant Manager.
Be sure to stop by to enjoy their new amenity this summer!
Wallace & Turner is once again sponsoring the 2022 United Way Annual Golf Scramble being held Friday, September 9, 2022 at Windy Knoll Golf Club. The Scramble includes a shotgun tournament starting at 11 am, followed by awards at 4 pm.
The event supports United Way of Clark, Champaign & Madison Counties which aims to nurture a safe, healthy, caring community that builds on the strengths of its citizens, its neighbors, its businesses and its human services delivery systems.
Register for or sponsor the tournament here.
Wallace & Turner is excited to announce the addition of several new team members: Julie Medley as Personal Lines Account Manager, Loran Axtell as Life & Health Account Manager and Tammy Hodge as Group Benefits Manager.
Additionally, Tia Keith, formerly in the Life & Health Department, has moved into the role of Commercial Lines Account Manager.
We are also pleased to welcome Spencer McCleery as an intern. Spencer is currently attending The Ohio State University and majoring in Actuarial Science.
View our full team directory here.
Up to 30 food trucks full of unique palate-pleasing cuisine will once again roll into Veteran’s Park, along with live entertainment, a beer garden and more on August 20, 2022, in Springfield for the Springfield Rotary Club’s Eighth Gourmet Food Truck Competition. Wallace & Turner is proud to serve as a Food Truck Sponsor.
Delicious food will include gourmet hot dogs and sandwiches, Pierogies, Empanadas, Cuban, BBQ, Mexican/TexMex, Italian, Carolina Coastal, American, Seafood, Jewish, Farm Raised, Asian, Latin, Mediterranean, and sweets.
Live entertainment will be available from 11 a.m. to 7 p.m. and the Beer Garden will be serving domestics and local craft brews from Springfield’s own Mother Stewart’s Brewing Company, and for those who don’t fancy alcohol, soda and water is available. In addition to Mother Stewart’s selection of craft beer, alcohol options this year include Michelob Ultra, Bud Light, Budweiser and White Claw.
Attracting over 10,000 guests each year, the competition continues to grow and thrive as Springfield’s must-taste event of the summer. While the competition is a great community event, it’s also a major fundraiser that supports the Rotary Club’s charitable programs. Over the first five years of the competition alone, over $100,000 was raised for Springfield Rotary’s causes from the support of the community. This includes services to people with disabilities, which has increased the number of individuals served by more than 70 percent since the inaugural competition in 2014.
Learn more here.
Wallace & Turner is proud to be recognized among the top property & casualty insurance agencies by Dayton Business Journal for 2022. The list ranked 21 total agencies in the Dayton area based on number of local agents. View the full list here (subscription required).
P.J. Miller
If you’re considering purchasing an electric vehicle (EV) to save at the gas pump or to reduce your carbon footprint, know that getting car insurance for an EV is similar to shopping for insurance like any other vehicle. In an interview with CarInsurance.com, Partner P.J. Miller said he hasn't noticed a major rate disparity between premiums for EVs/hybrids versus gas-powered autos.
“Car insurance rates are predicated on so many factors – credit scores, location of the garage and the vehicle, driving record and price of the car. The engine and powertrain haven't factored in as a major portion of the typical rate-making process.”
Read the full article here.
Questions about auto insurance coverage in Ohio? Contact Wallace & Turner at 937-324-8492 or info@wtins.com.
Register to win one of two cash prizes – $500 or $1000 – when you purchase a ticket at the Summer Arts Festival for our Wallace & Turner Cash Raffle!
Tickets are available nightly at the Summer Arts Festival – one ticket for $1.00, and six tickets for $5.00 – and each ticket purchased gives you one chance to win either $500 or $1000 at the grand prize drawing on Saturday, July 23, 2022, on the final evening of the Festival.
The Wallace and Turner Raffle is a fundraising event for the Springfield Arts Council.
Learn more here.
Wallace & Turner is once again supporting Second Saturdays in Downtown Urbana at Monument Square District, featuring food trucks, sidewalk vendors and live music.
Urbana Downtown Merchants Association hosts Second Saturdays with the goal of creating a positive retail experience for the community. Charming historic downtown Urbana boasts a fantastic array of shopping, dining, and site seeing!
Follow their Facebook page for updates on each month’s events.
P.J. Miller
In an interview with Moneygeek.com, Partner P.J. Miller discussed the key factors Ohio drivers should look for when searching for the best auto insurance coverage.
P.J. cautioned that while drivers may be tempted to go with the cheapest coverage option, they should make sure they’re working with a reputable carrier and the coverage is providing them with enough protection in the instance of an accident or other loss. “You may be saving now, but if you cause an accident that results in costs exceeding your coverage limit, you'll be coming out of pocket to pay -- and your assets such as your home or other investments could be at risk,” he said.
P.J. also advised drivers to consider talking with an independent insurance agent because they can identify discounts and credits that may be available.
Read the full article here.
Questions about car insurance coverage in Ohio? Contact Wallace & Turner at 937-324-8492 or info@wtins.com.
Wallace & Turner kicked off Food Truck Thursday 2022 with Real Estate II on April 7th! EAT Food Truck provided tasty meals and we collected donations for Keep Clark County Beautiful. Keep Clark County Beautiful’s national affiliation helps to highlight the value of community beautification and putting waste in its proper place and offers proven models and tools that enhance our ability to make a difference here in Clark County. Coordinated by the Clark County Solid Waste District, KCCB is of more than one thousand communities participating in the Keep America Beautiful network.
We had a great time serving our community helping to make Clark County a better place for it's residents! View more here.
The Clark State Foundation has partnered with the Urbana and Graham school districts to support students who will become the first in their families to earn a college degree. The Scholars program provides support throughout high school to prepare these students for college success. Upon graduation from high school, the students will be eligible for three years of college at Clark State at no cost to the students.
We hope you will help support the Champaign County Scholars program by participating in the April 30th 5K Walk/Run. Wallace & Turner is a proud sponsor of the event. Participants will receive an event t-shirt and trophies will be awarded for first place male, female and fundraiser. All proceeds from this event will support Champaign County scholarships.
Learn more here.
P.J. Miller
If you haven’t checked your homeowner’s insurance policy in a while, it may be wise to do so. Inflation is rapidly increasing building costs and if your house is damaged or destroyed, having inadequate coverage might result in a significant loss. In an interview with Consumer Affairs, Partner P.J. Miller explained how having a “replacement cost guarantee” provision can cover the cost to repair or replace your home, even if the amount exceeds your coverage.
P.J. said the forerunner of the current day “guaranteed replacement cost” was the “inflation guard endorsement and while it’s not known if all carriers provided this option, most did for various reasons. “An example would be the simple fact that you don’t have to remember to contact your carrier to increase coverage and the peace of mind knowing that it’s done automatically.”
He also noted that it’s important to understand how your policy’s inflation adjustment works. Some policies might increase the coverage only for the policy term and then reset it to the prior term’s coverage amount.
Read the full article here.
Questions about your homeowner’s insurance coverage? Contact Wallace & Turner at 937-324-8492 or info@wtins.com
You are good at your job. You are an expert in your field. But you can still make mistakes. And when you do, you may face legal and financial liability. In some cases, that liability could put your career and financial stability at risk.
That’s where professional liability insurance comes in. There are dozens of types of professional liability insurance, as well as individualized rules for each career and industry. All the separate recommendations and rules can make this a confusing area of commercial insurance.
So who needs professional liability insurance? Read on to learn more about this coverage. If you have additional questions, contact the Wallace & Turner team here.
Having a thorough understanding of professional liability insurance will help you determine whether you need it, and how much coverage is appropriate.
Here’s the short and sweet definition: Professional liability insurance is an insurance policy that protects you if a client or customer decides to sue you for a financial loss. These insurance policies protect you by covering the financial liability you may face if a client sues you because of alleged negligence that caused them harm. These kinds of lawsuits may look different across a wide range of industries, but the basics are usually the same.
Professional liability insurance is often referred to as errors and omissions (E&O) insurance. Depending on your job title and industry, these policies may protect you in the event of the following issues that could lead to financial harm for your clients:
Breaches of contract
Errors in the work you deliver
Undelivered products or services
Missing deadlines
Projects going over budget
General negligence resulting in demonstrable financial harm
Mistakes and negligence are possible in almost every industry and job title, but not every industry requires professionals to obtain professional liability insurance. While some states can be quite strict about requiring doctors, lawyers and similar professionals to have E&O insurance, Ohio is much less strict.
For example, not all doctors are required to carry medical malpractice insurance in Ohio. However, most hospital systems and individual institutions require physicians to obtain this coverage.
The Ohio State Bar Association says attorneys in Ohio are not required to have legal malpractice insurance, but if they don’t, they must notify their clients and have them sign a form acknowledging that they do not have the coverage.
However, Ohio state law does provide for several specific instances in which professionals must maintain E&O insurance, and it can be tough to keep up with which industries require professional liability coverage by law. For instance, Eastern medical practitioners and acupuncturists must have at least $500,000 in professional liability insurance in Ohio.
Because the specifics of who is required by law to have professional liability coverage in Ohio can be a little confusing, it’s always a good idea to reach out to a local, independent insurance agent to discuss the basics of the coverage you need.
It’s important to remember that you may still need professional liability coverage even if you aren’t specifically required by law to carry it. Really, any professional or business owner who stands to be sued for a significant amount of money by a client or customer should consider this coverage.
Here are some examples of professionals who often need to purchase professional liability insurance:
Real estate agents
Accountants
Architects
Engineers
Insurance professionals
Financial advisors
Information technology professionals
Management, security and other types of consultants
This is by no means an exhaustive list of industries that might benefit from professional liability coverage. If you are concerned about being sued by a client or customer due to a financial loss, you may be a good candidate for E&O coverage.
Many business owners already purchase general liability insurance. And when they start hearing about professional liability insurance, they think they are already covered. That assumption is often a mistake.
That’s because general liability and professional liability are two distinct types of liability. General liability insurance covers you in the event of an injury to someone else’s physical body, property or reputation due to your negligent actions. Professional liability insurance covers you in the event of a client’s financial loss due to your actions in a professional capacity.
Let’s illustrate that with a real-world example. If you are an accountant, your general liability insurance would cover you if someone came to your office and was hurt after slipping on a wet floor. Your professional liability insurance would cover you in the event that you made a mistake with a client’s account that resulted in the loss of money for the client.
In both cases, how much you are covered for will depend on the specifics of your chosen insurance policy, but both types of coverage are essential to ensuring the future of your business. No matter how confident you are in your professional abilities, mistakes can and will happen. When they do, you need to be covered.
The truth is that, in most fields, it’s not a question of if you will make a mistake in your career — it’s when. We’re all human, and humans make mistakes. Professional liability insurance can make sure that a simple mistake doesn’t turn your life upside-down.
Whether you need professional liability insurance will depend on your exact career, Ohio law and your level of risk tolerance. In other words, the answer to the question of who needs professional liability insurance is not always clear.
What is always clear is the advice you will get from the team of independent insurance agents at Wallace & Turner. We have been serving the Urbana and Springfield, Ohio, communities for decades. If you have questions about professional liability insurance or any other business insurance policy, reach out to us via email at info@wtins.com or phone at 937-324-8492.
Wallace & Turner had a wonderful time at the Ridgewood School 2022 Hearts & Hands dinner and live auction on March 19th. We were proud to be a sponsor of the event which supports fundraising to make it possible for area children who have great financial need to attend Ridgewood's PreK-8th grade, college preparatory school. Lisa Miller even came home with a Mayim Bialik signed photo!
