New Insurance Service for EBMC Tenants

Tenants at most EBMC-managed apartment properties now have quick and affordable access to renters insurance.

EBMC entered into an agreement last year with HRH of Northern California Insurance Services Inc., who is serving as a broker for LeasingDesk. LeasingDesk is the largest provider of group insurance programs for the multifamily industry, and they specialize in affordable renters and liability insurance. In some cases, the insurance they offer may cost as little as $20 a month, depending on the method of payment chosen, and the amount of coverage needed.

Some tenants may not be aware that their landlord’s insurance does not cover the tenant’s personal property – such as clothes, furniture, artwork, jewelry or other items – against destruction or loss. Renters insurance will provide protection for that personal property from losses that may occur due to fi re or smoke, lightning, vandalism, theft, explosion, windstorm and water damage from plumbing.

Renters insurance also provides some liability coverage, should someone slip and fall or become injured in a renter’s unit, and then sue. Renters insurance is available through many sources, but for many, obtaining it requires working with independent insurance agents and going through an approval process.

Tenants at most EBMC-managed properties are already pre-approved, as part of the agreement between EBMC and HRH of Northern California Insurance Services Inc.

Applications, as well as information on renters insurance, are available through EBMC’s Web site. Go to www.ebmc.com and then click on the “Resources” link.

Evolutionary Changes to EBMC Health Insurance Plan

Hopefully, most employees have had the opportunity to attend one of the educational meetings recently held to explain EBMC’s new employee health benefits. “We are very excited with the level of acceptance and enthusiasm the ‘Self-Funded’ plan has had within our organization,” said President Stephen Burger.

By self-funding, EBMC assumes the responsibility for paying its employee’s health care claims. “The transition to a self-funded model represents a giant evolutionary step forward for EBMC. It provides employees with a more consumer-driven plan that is matched with an affordable employee contribution level.”

By adopting this approach, EBMC joins a growing trend. More than 68 percent of U.S. employers have transitioned into a self-funded program over the past 25 years. While adhering to strict Federal guidelines, “this model allows for better control through plan design, costs and employee contribution levels, based on EBMC’s personal claims experience, not the ‘pooled’ approach we had been subjected to with a fully insured model.”

Studies have shown that self-funding actually saves companies money, in part because they are not paying profits to an insurance company. Also, by using this plan, EBMC is able to offer its employees a more customized plan.

If you have any questions about the new health care plan, contact the EBMC Insurance Department.