Managing Risk – Winter 2018

How Changes at EEOC Could Benefit Employers

stampPresident Trump’s appointment to the U.S. Equal Employment Opportunity Commission could signal a more cooperative attitude at the agency.
Read on for details.
 
 

How Technology Is Helping to Reduce Fraud

teleFraud in all U.S. lines of insurance is responsible for approximately $80 billion per year in losses. Several billion dollars of that is workers comp fraud. In the past few years, however, some of those loses have been reduced thanks to technology. Read on for details.

 

Section 7 and Social Media in the Workplace

crutchTwo restaurant employees complained about the company’s accounting department on Facebook — and were fired. Two teen center employees took to Facebook after an office meeting and disparaged their supervisors’ decisions — and were fired. James Damore used Google’s employee message boards to criticize how his employer was implementing its diversity policy — and was fired. Read on for details.

Ways to Fill Winter Storm Insurance Gaps

Your firm’s winter storm property insurance exposures may require more than a named perils insurance policy. You may want to consider upgrading your coverage to one of these types of property policies: Read on for details.

Personal Lines – Winter 2017/18

Five Lessons from Recent Hurricane Losses

phoneDamage from wind and water aren’t the only financial losses that hurricanes can cause.
Read on for details.
 
 
 

Five Ways You Could Accidentally Lose Your Car Insurance

cashForgetting to pay your premiums isn’t the only way to invalidate your automobile insurance. Read on for details.

 
 
 

Do You Need Workers’ Compensation for Household Employees?

framesEvery day, an estimated 2.5 million individuals—mostly women—work in others’ homes, cleaning, cooking and caring for children and the elderly. Although many people treat them as independent contractors, the IRS and workers’ compensation laws may consider these domestic workers “household employees.” If they are injured while working for you, you may be liable for lost-time claims as well as medical payments.
Read on for details.

Does Homeowners Insurance Cover Domestic Workers?

Standard homeowners policies include medical payments coverage, which will pay the medical bills of someone injured on your property, regardless of negligence on the part of the homeowner. However, the policy will not pay if you are obligated to provide workers’ compensation.
Read on for details.

Insurance Buyers’ News – November/December 2017

Five Lessons from Recent Hurricane Losses

non-profits liabilityDamage from wind and water aren’t the only possible detrimental financial consequences of a hurricane. Read on for details.
 
 
 

Was Vegas Shooting Foreseeable?

data management planningIf a particular type of crime regularly occurs on certain business premises, could other businesses in that industry be held liable if they fail to take preventative measures against similar instances in the future?
Read on for details.

 

Avoiding Winter Storm Damage

additional insuredIt’s been an unusally damaging year of wildfires and hurricanes. As those kinds of events recede we need to look ahead to the always costly winter storm season that will soon begin.
Read on for details.

 

Ways to Fill Winter Storm Insurance Gaps

To cover many of the winter storm property insurance exposures not covered by named peril insurance policies, businesses can buy one of these types of property policies:

Read on for details.

Managing Risk – Fall 2017

9 Ways to Improve Your Workers’ Comp Program and Save Money

stampThe key is advance planning.

1. Make sure your employee classifications are correct. There are 500 to 600 job classifications to choose from, and getting the best fit possible can mean getting the lowest rate possible. Read on for details.

How to Control Employee Dishonesty

teleOne in every 27 employees was apprehended for theft from their employer in 2016, according to the 29th Annual Retail Theft Survey. 53,786 dishonest employees were apprehended in 2016, up 9.3% from 2015.Read on for details.
 

Why Almost Every Business Needs Additional Insured Coverage

crutchYou have business liability insurance, but it may not provide coverage if you are considered “vicariously liable.” Read on for details.
 
 
 

What is subrogation and how does it apply to insurance?

Subrogation in the context of insurance is the right of an insurance company to “step into the shoes” of the insured after the company has paid the loss. … These short explanations of how subrogation works in various types of insurance policies should help explain it better. Read on for details.

Personal Lines – Fall 2017

Five Practical Tips for Buying the Right Car Insurance at the Right Price

phoneIf you need insurance for a new car or you’ve been routinely renewing your car insurance with the same coverage and limits every year, it makes sense to evaluate your options before buying or renewing. Here are five practical tips:
Read on for details.

Protecting Your Family from Dog Bite Liability

cashThe Insurance Information Institute (III) reported that dog bite claims cost an average of $33,230 in 2016, an increase of 36% since 2008. If you own one or more dogs, do you have the insurance coverage to protect you from dog bite liability? Read on for details.
 

Do You Know What’s REALLY in Your Homeowners Policy?

framesMany homeowners don’t. The Insurance Information Institute surveyed homeowners to find out how well people understand their policies. Here are some of the findings of the III’s 2016 Consumer Insurance Survey.
Read on for details.

 

What Is a “Bite”?

Sometimes legal disputes arise over what exactly constitutes a “dog bite.” If the laws of the community where the bite occurred do not specifically define “bite,” courts generally hold that the dictionary definition applies. Webster’s Dictionary defines “bite” as: “To cut, tear, or grip with or as if with the teeth.”
Read on for details.

Workers Comp & Safety News – August/September 2017

Can Technology Reduce Distracted Driving?

stampTechnology caused the problem but maybe it has the solution as well.
Approximately nine people are killed and more than 1,000 are injured in car crashes reportedly involving a distracted driver each day in the US, according to the National Highway Traffic Safety Administration.

Read on for details.

Second Injury Funds

teleMore than half of all injured workers have a pre-existing condition, according to one expert. When you have an employee with a permanent impairment who suffers a second injury, you are responsible for compensating only the most recent injury. Many employers fail to realize this, often spending thousands of dollars more than they need to. Read on for details.

OSHA Extends Electronic Form 300A Filing Compliance Date

crutchThe extension is being made to give the new administration an opportunity to review reporting requirements.Read on for details.
 
 
 

What Safety Regulations Apply to Your Business?

When it comes to workplace safety, ignorance is no defense. OSHA safety and health regulations often apply to all businesses, regardless of size.
Read on for details.

Managing Risk – Summer 2017

How Will Driverless Cars Affect Your Business?

stampIt’s predicted that driverless cars will account for 25 percent of global car sales by 2035. How will this affect your business and your employees? Read on for details.
 
 
 

How Does Marijuana Legalization Impact Your Drug-Free Work Environment?

teleMarijuana is now legal in some form in 28 states and the District of Columbia. What does this mean for your workers’ compensation safety program?Read on for details.
 
 
 

Do You Need Property Insurance Even If You’re Just Renting?

crutchYou buy property insurance to cover damage or loss to property. But what if you don’t own the property or you rent it? Your liability policy might provide some coverage…but probably not enough. Read on for details.

 
 

Commercial Drone Insurance is Here

As drones become more useful in commerce, commercial drone insurance is becoming increasingly popular.

Read on for details.

Personal Lines – Summer 2017

What If Somebody Sues You?

phoneIn many instances, your homeowners insurance will cover you. You buy homeowners insurance to protect your home and your personal property. Many people don’t realize their policy also protects them from liability lawsuits and claims.
Read on for details.

Do You Need a Boat Insurance Policy?

cashIn 2015, the Coast Guard counted 4,158 recreational boating accidents that involved 626 deaths, 2,613 injuries and approximately $42 million dollars of damage to property. If you own or regularly operate a boat, you probably need more coverage than your homeowners policy provides. Read on for details.

Identity Theft — Bad News and Good News

framesIn 2016, financial losses due to personal identity theft totaled $16 billion and affected 15.4 million U.S. consumers, according to the 2017 Identity Fraud Study, released by Javelin Strategy & Research. In the past six years, over $107 billion has been stolen by identity thieves.
Read on for details.

Are Telematics in Your Future?

If you own, drive or even ride in a car, the answer is yes. By 2022, there will be an estimated 2 billion connected vehicles on the road worldwide. “This transformation will impact insurers, repairers and original equipment manufacturers (OEMs), creating new risks and opportunities,” according to Mac Fraser, a spokesperson for CCC Information Services.
Read on for details.

Insurance Buyers’ News – May/June 2017

Business Income Coverage: Survival Plan for Small Business

non-profits liabilityIn survey of business owners by Trusted Choice a few years ago, more than half of the owners said they didn’t have business income coverage. But more than half of businesses without business income insurance will close within three years of a serious loss. Business income insurance would “have protected those small businesses from that fate,” according to Trusted Choice spokesperson Madelyn Flanagan. Read on for details.

Why Private Companies Need D&O Insurance Too

data management planningPrivate corporations and nonprofits are less likely to be targeted in multi-million dollar directors and officers liability lawsuits than publicly traded companies. They still have risk exposures, though. In fact, in a recent survey by Advisen, 25 percent of D&O claims among private companies settled for $1 million or more. Could you protect your directors and officers from claims that large?
Read on for details.

What’s the Difference between Arbitration and Mediation?

additional insuredHow many times have you signed a contract that requires mediation or mandatory arbitration of disputes? Do you know what you’re signing?
Read on for details.
 
 

D&O Trends

These current trends affect both public and private companies:

  • Regulatory enforcement
  • Emerging risks
  • Changing policies

Read on for details.

Managing Risk – Spring 2016

2017: The Year of the Cyber Attack

stampCyber security problems will increase in 2017, warns Experian Data Breach Resolution, a branch of the credit reporting giant Read on for details.
 
 
 

15-Point Checklist for Your Account Service Instructions

teleIt’s not you, it’s me. The instructions you give your insurance carrier and broker can determine how effectively they handle your claims.Read on for details.
 
 
 

Service Animals, Assistance Animals, Therapy Animals—What’s the Law?

crutchGuide dogs and service dogs have helped individuals with disabilities navigate life for decades. Now you also see assistance animals, therapy animals and emotional support animals. What’s the difference and what’s the law? Read on for details.
 

Climate-Change Disclosures Recommended

Publicly traded companies should disclose their climate-change risks and what they’re doing about them, says the Financial Stability Board. The Board, an international body that monitors and makes recommendations about the global financial system, includes members of the G20, government ministers and central bank governors of 20 leading economies.

Read on for details.

Personal Lines – Spring 2017

Insuring Art and Collectibles

phoneIf you have artworks, antiques and other collectibles, your collection might be worth more than you realize. Does it have proper coverage?
Read on for details.

The Insurance Checkup: Good for Your Financial Health

cashHaving too little or too much insurance can cost you money. A regular insurance checkup can help ensure you have the amount and type of coverage you need.
Read on for details.

Protect Yourself from Volunteer Liability

framesAmericans are a charitable group. One-fourth (24.9 percent) volunteer for a nonprofit or school*. Most people volunteer because they believe in a cause, want to help others or want to improve their community. Although volunteering might feel good, it’s not always risk-free.
Read on for details.

Smartphone Use = Higher Insurance Rates?

Fatal accidents are on the rise, and so are consumers’ auto insurance premiums. Allstate President Matthew Winter told shareholders that “the correlation between smartphone ownership and accident frequency is striking,” according to a Wall Street Journal article.
Read on for details.

Workers Comp & Safety News – February/March 2017

OSHA Update

stampRules and regulations promulgated by OSHA, the Occupational Safety & Health Administration, affect employers all over the country. Here are a few new developments you should be aware of.

Read on for details.

15-Point Checklist for Your Account Service Instructions

teleIt’s not you, it’s me. The instructions you give your insurance carrier and broker can determine how effectively they handle your claims.Read on for details.

Beyond Fitbits: How Wearable Tech Can Increase Safety

crutchDictionary.com defines wearable computers as “miniature electronic devices that are worn by the bearer under, with or on top of clothing.” You might be thinking of futuristic devices such as Google Glass, but many safety “wearables” are much simpler and more common. Here’s a peek at a few technologies that are improving safety.Read on for details.

Daylight Savings Safety

This year, Daylight Savings Time (DST) begins on Sunday, March 12. Most states switch to DST at 2 a.m., although some do not change their clocks.
Read on for details.