In 1974, the Employee Retirement Income Security Act (ERISA) was enacted to regulate most types of employee benefit plans. This Act requires that a fidelity bond be in place to cover the fiduciary and those persons who handle funds or other property of such a plan.

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Congress is preparing to extend the National Flood Insurance Program for another year, despite warnings that the program lacks adequate controls and may be shifting too much money to the insurance industry.

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James and Maria Ivory's dreams of a relaxing retirement on Florida's Gulf Coast were put on hold when they discovered their new home had been built with Chinese drywall that emits sulfuric fumes and corrodes pipes. It got worse when they asked their insurer for help -- and not only was their claim denied, but they've been told their entire policy won't be renewed.

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Will your basic liability coverage be enough if someone sues you? Do you have assets you want to protect? If you're likely to encounter the need for greater liability coverage, an umbrella policy might be for you. Umbrella policies provide an extra layer of protection in addition to your existing homeowner's or auto insurance policies.

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Sincerely,

McDonough & Keegan Insurance Agency, Inc.