Page 6 April 2014 By Jennifer A. Cranston Does your business have the proper insurance? According to a recent survey, the answer to this question for many businesses is “no.” In 2013, one of the largest worldwide insurance groups (Chubb) commissioned a survey to determine how private companies in the United States contemplate and manage their business exposures. The results of the study indicate that many business owners and risk managers are concerned about specific business risks, but don’t have insurance in place to address those risks. The study reports that many companies are operating under a misconception regarding the scope of coverage provided by standard general liability (GL) policies. While GL policies are an important part of risk management, they generally limit coverage to liability for personal and bodily injury, property damage and advertising injury, but they don’t provide protection for a myriad of other common business risks. Specifically, the businesses surveyed admitted to worrying about being sued for alleged wrongdoing by officers and directors as well as claims for employment discrimination, harassment and retaliation. Yet, more than half incorrectly believed that such lawsuits would be covered by their GL policies, which is why they reported foregoing specialized insurance like directors and officers liability insurance and employment practices liability coverage. Additionally, a majority of the companies surveyed hire outside vendors to manage their employee benefit plans and, therefore, assume that they are shielded from lawsuits by employees. However, according to the report, such companies can still face liability for improper benefit management Is your business insured? and won’t have insurance to pay their defense costs unless they purchase fiduciary liability coverage. Another type of insurance that most of the surveyed businesses are missing is coverage for cyber risk, which can protect companies from the high costs and potential liability associated with data breach – a risk that has and continues to grow exponentially. To me, the 2013 Chubb survey confirms that most business owners and operators understand their risk exposure, but many are mistaken about the protection provided by their current insurance policies. This misunderstanding can cause significant economic damage to a company – damage that can be minimized or eliminated with a little extra effort to ask the right questions and better understand what types of coverages are available. The complete results of the Chubb study are available at available at http://www. chubb.com/businesses/csi/chubb12192.pdf. Jennifer A. Cranston is a shareholder at Gallagher & Kennedy, where she focuses her practice on three primary areas: real estate disputes, including condemnation and valuation matters; insurance coverage analysis and bad faith litigation; and public utility regulation. For more information about Ms. Cranston, please go to www.gknet.com. Find an Arcadia News rack location near you. Visit arcadiadaily.com click on “Get a Copy” What’s Happening, Arcadia? The Silver and Turquoise Ball Talking Stick Resort and Conference Center 9800 E. Indian Bend Rd. April 5 – 5:30 p.m. A unique culinary experience designed by an American Indian Chef, an amazing cultural performance and an exciting silent auction featuring the most exclusive Native American art available today. www.phxindcenter.com/silver- turquoise-ball/ Modern Phoenix Home Tour Phoenix and Scottsdale April 6 – 1 p.m.-6 p.m. It’s the 10th year of award-winning tours, education and events for design professionals and do-it-yourselfers alike. For more information on the home tour and other events being offered throughout the week, go to: www.modernphoenix.net Hikes in a Hurry! Box Canyon/Holbert Trail South Mountain Park April 6 – 9 a.m. Find the time for a family hike with Pueblo Grande Museum’s one hour Hikes in a Hurry program. Bring the whole family for a short one-mile Hohokam petroglyph discovery hike at South Mountain for an easy but also petroglyph-rich hiking experience. www.experiencescottsdale.com/ event/hikes-in-a-hurry/ Arizona Gives Day April 9 – 12 a.m.-11:59 p.m. Supporters of Arizona’s nonprofits will go online, connect with causes they care about and make a tax-deductible donation. Supporters will search for participating nonprofits and simply click to donate. The donation stays local and helps our nonprofits provide much needed services and support for people in the state of Arizona. azgives.razoo.com/ 36th Annual Scottsdale Culinary Festival April 8-13 The longest running event of its type in the nation. This festival has grown to a community favorite hosting over 35,000 guests, 20 events, 100 restaurants, dozens of top chefs and countless fine wine and spirit selections. The six day festival offers a diverse menu of luxurious dinners, themed cocktail parties and our signature event, the Great Arizona Picnic featuring 50 restaurants, chef demonstrations, live bands and specialty tasting venues. www.scottsdalefest.org Stations of the Cross St. Theresa Catholic Church 5045 E. Thomas Rd. April 11 – 7 p.m. 7th graders from Saint Theresa Catholic School will present their traditional Stations of the Cross, created by the students along with a student narration. All are welcome. For more information please contact the school office at 602-840-0010. Berridge Nurseries 16th Annual Art-in-the-Garden Event 4647 E. Camelback Rd. April 12 – 9 a.m.-3:30 p.m. Berridge Nurseries annual Art-in-the-Garden will host local vendors, food trucks and artists in an all day event for the entire family. Phoenix Public Library Celebrates Jeremy Jackrabbit Arizona Science Center 600 E. Washington St. April 12 – 10 a.m.-12 p.m. Phoenix Public Library, in partnership with the Arizona Science Center, will host a celebration to launch Sasha and Rodney Glassman’s newest book in their Jeremy Jackrabbit series, Jeremy Jackrabbit Captures the Sun, illustrated by children from throughout the Phoenix metropolitan area. www.phoenixpubliclibrary.org Phoenix Writers Club Bluewater Grill 1720 E. Camelback Rd. April 19 – 12-2 p.m. Whether you are a published author or just beginning to put your ideas on paper, come join Phoenix Writers Club for lunch and guest speaker Gini Koch, Sci-Fi paranormal romance author. Reservations must be made by April 16. RSVP with Phoenix Writers Club in the subject line to: neeliepubl@aol.com Earth Day at the Phoenix Zoo 455 N. Galvin Parkway April 19 – 9 a.m.-4 p.m. The Phoenix Zoo’s Party the Planet features activities, crafts, music and more. Learn how your sustainability efforts help protect wildlife and wild places. Meet community partners featuring conservation-minded activities. www.phoenixzoo.org Arcadia News Book Club Saguaro Library April 24 – 7 p.m.-8:30 p.m. On the last Thursday of every month, join the Arcadia News Book Club as we discuss the book of the month and Skype with the author. Refreshments served. RSVP via email to: Amanda@arcadianews.com A P R I L 2 0 1 4 E V E N T S To have events considered for the Calendar, submit information to calendar@arcadianews.com by the 15th of the month prior to publication. Calendar listings may be edited and published by Arcadia News as space allows and at the discretion of the editorial team.

I have several buyers looking for houses in Arcadia. If you don’t want to list your house but would consider selling, please call me. 2014 Tavan School District Sales Results (1/1/2014- 2/28/2014) Active Homes - 74 Homes Homes Sold - 30 Homes Average Sale Price - $452,673 Average Sold $ Per SF - $203 Average Days On Market - 47 days • There is currently 4 months of home inventory (based on 2013 sales results) • 2014 home sales have decreased 16% this year. (based on 2013 sales results) • Home prices have increased 10% this year. (based on 2013 sales results) • $ Per Square Foot prices have increased 6% this year. (based on 2013 sales results) • Homes are taking 28% less time to sell this year. (based on 2013 sales results) 2013 Tavan School District Year End Sales Results Homes Sold - 217 Homes Average Sale Price - $403,875 Average Sold $ Per SF - $189 Average Days On Market -66 Days 2012 Tavan School District Year End Sales Results Homes Sold - 207 Homes Average Sale Price - $326,316 Average Sold $ Per SF - $158 Average Days On Market -66 Days 2011 Tavan School District Year End Sales Results Homes Sold - 203 Homes Average Sale Price - $265,505 Average Sold $ Per SF - $128 Average Days On Market -102 Days 2010 Tavan School District Year End Sales Results Homes Sold - 145 Homes Average Sale Price - $294,278 Average Sold $ Per SF - $142 Average Days On Market -140 Days Arcadia Real Estate Stats 2014 Hopi School District Sales Results (1/1/2014- 2/28/2014) Active Homes - 177 homes Homes Sold - 33 homes Average Sale Price - $839,189 Average Sold $ Per SF - $270 Average Days On Market - 94 days • There is currently 7 months of home inventory (based on 2013 sales results) • 2014 home sales have decreased 35% this year. (based on 2013 sales results) • Home prices have decreased 1% this year. (based on 2013 sales results) • $ Per Square Foot prices have increased 2% this year. (based on 2013 sales results) • Homes are taking 6% more time to sell this year. (based on 2013 sales results) 2013 Hopi School District Year End Sales Results Homes Sold - 305 Homes Average Sale Price - $845,430 Average Sold $ Per SF - $262 Average Days On Market -88 Days 2012 Hopi School District Year End Sales Results Homes Sold - 282 Homes Average Sale Price - $777,607 Average Sold $ Per SF - $235 Average Days On Market -102 Days 2011 Hopi School District Year End Sales Results Homes Sold - 238 Homes Average Sale Price - $635,344 Average Sold $ Per SF - $197 Average Days On Market -124 Days 2010 Hopi School District Year End Sales Results Homes Sold - 202 Homes Average Sale Price - $670,142 Average Sold $ Per SF - $200 Average Days On Market -156 Days If you are buying or selling a home in Arcadia, call Tommy! 6152 E Calle Camelia • $1,100,000 5 bedroom / 4 bath • 3,226 square feet Charming Arcadia Ranch 4651 E Palomino • $4,200/mo rent 5 bedroom / 4 bath • 4,111 square feet Camelback Mountain Rental 3122 N 40th Street • $210,000 3 bedroom / 1 bathroom • 1,212 square feet 13,471 sf subdividable lot I have several buyers looking for houses in Arcadia. If you don’t want to list your house but would consider selling, please call me. visit Tommy Atkinson .com Free MLS Access • Complete list of ALL Hopi properties for sale • Complete List of ALL Tavan properties for sale • Complete list of ALL Arcadia foreclosures 5602 E Montecito • $995,000 5 bedroom / 4 bath • 4,421 square feet 32,474 square foot lot 5625 E Exeter • $2,100,000 5 bedroom / 5 bathroom • 5,400 square feet Charming Exeter Ranch 6243 E Monterosa • $2,100,000 6 bedroom / 4 bath • 4,593 square feet Charming Arcadia Ranch 6333 E Lafayette • $1,250,000 4 bedroom / 4 bath • 3,827 square feet Charming Lafayette Ranch Call today about my flexible commission plan geared to Save You Money! 3132 E Coolidge • $699,000 4 bedroom / 4 bath • 2,820 square feet Charming Red Brick Ranch