A few weeks ago we talked specifically about jewelry and watches, and the increased coverage you would need for these high-ticket items. Now that Christmas has come and gone, and Hanukkah will end this evening, we figure that many of you opened something special this year. You were nice, not naughty, right? Continue Reading →
Archive | December, 2011
We’re always concerned about our customers’ well being, and we are hoping that everyone will have a safe and happy holiday season.
But here’s some sobering facts from the National Fire Prevention Association: Between 2005-2009, U.S. fire departments responded to an average of 240 home fires that started with Christmas trees per year.
These fires caused an average of 13 deaths, 27 injuries, and $16.7 million in direct property damage annually. That’s a lot of unnecessary death, injury and damage for what is supposed to be a joyful season. Watch the NFPA’s video on the speed at which a dry tree can be engulfed in flames:
This year you’ve decided to buy that desired piece of jewelry for the one you love. Maybe it’s the diamond necklace for your wife, the pearl earrings that will reward your daughter for doing well at university, or even a IWC Aquatimer watch for your son as his new hobby is scuba diving. We’re happy that you have the good fortune to splurge on your family this year, but we also want to protect you. Continue Reading →
Everybody who likes insurance costs going up, raise their hand. Nobody? We thought so. And it’s people like Devon Lynn Kile and her husband Michael Vincent Petronella that cause our insurance rates to go up. How? By defrauding the insurance company. How much? Oh, that’s a doozie: It’s a state record of a whopping $30,000,000.
Those zeros are correct: $30 MILLION. Perhaps this was part of her ideal lifestyle, as evidenced by the application for the Real Housewives of Orange County, seized during the raid on her Laguna Hills home. Well, guess what, honey. It’s not your “real” lifestyle if you’ve been swindling the insurance company out of tens of millions of dollars.
What else was seized during the raid? Only $500,000 in jewelry (a 10-carat diamond ring) and watches (from Rolex and Chopard), handbags and shoes from luxury brands Gucci, Chanel, Burberry and others, two Ferraris, a Bentley and a Range Rover. (From her booking photo, it looks as if Ms. Kile also invested in some elective surgery.)
It feeds the prosecution’s argument that Petronella and Kile used their companies as personal piggy banks to support their extravagant lifestyle. One of their clients? The Ocean Institute in Dana Point. Don’t the whales and other marine life have enough to deal with?
Petronella has already been sentenced to 10 years in state prison last year for 33 felony counts of insurance fraud. Kile has served two years in prison while her case was pending, and now will have 10 years of probation. If she violates that probation, she will be sentenced to 10 years in state prison. Oh, and there’s the restitution of $1.3M to the Employment Development Department and $1.5M to the Franchise Tax Board. Continue Reading →