Fire Prevention Safety Tips

Smoke detectors and fire extinguishers are important, but the best way to fight a fire is to prevent it from starting. Read the fire prevention tips below to learn more.  When it comes to fires, residential fires come to mind first. But commercial properties are also vulnerable. The National Fire Protection Agency reported 113,500 non-residential fires in 2015, the latest …

Active Shooter Insurance Now Available

Sadly, active shooter incidents have become so common there is now an insurance market to insure the liability of the impacted entities. Read on to learn about Active Shooter Insurance. Incidents involving an active shooter, defined by the FBI as “one or more individuals actively engaged in killing or attempting to kill people in a populated area,” have been increasing …

Why ‘Side-A’ Is Critical if you’re a Director or an Officer

There are three parts to a D&O Policy—Parts A, B, and C. In recent years, exposure to Part A / Side-A risks have increased dramatically. To protect themselves, anyone considering joining a board of directors should find out the extent the corporation will indemnify them for results of any decisions they may help make while serving. Indemnification is just a …

How a Business Income Worksheet Helps You Rebuild after Disaster

An estimated 70 percent of companies that undergo a major loss eventually go out of business, because they failed to plan for the disaster. Proper planning includes completing a business income/extra expense worksheet. This worksheet can help you get all the funds you’re entitled to after a disaster—here’s how. Business property policies usually include business income and extra expense coverage. …

Top 10 Risks to Businesses – 2018

Each year Allianz Global ranks the top 10 risks to businesses, according to a survey of U.S. risk managers. Here’s how they ranked the risks for 2018: Cyber incidents (e.g. cybercrime, IT failure, data breaches) Business interruption (including supply chain disruption) Natural catastrophes (e.g. storm, flood, earthquake) Market developments (e.g. volatility, intensified competition/new entrants, mergers and acquisitions, market stagnation/fluctuation) Fire, …

What’s Covered in a Typical Equipment Breakdown Insurance Policy?

Damage to “covered property” at the location named in the policy. Expediting expenses, to cover the costs of getting insured equipment operational as fast as possible. This may include expedited shipping and making temporary repairs. Business income and extra expense. Many of these policies will cover income lost, if due to a slowdown or stoppage caused by breakdown of the …

How Changes at EEOC Could Benefit Employers

President Trump’s appointment to the U.S. Equal Employment Opportunity Commission (EEOC) could signal a more cooperative attitude at the agency. Now that the EEOC is likely to have a 3-2 Republican majority under nominee Janet Dhillon, its policies are expected to slant in a more pro-employer direction. Control at the field office level, where much of the litigation against employers …

Ways to Fill Winter Storm Insurance Coverage Gaps

To cover many of the winter storm property insurance exposures not met  by named peril insurance policies, businesses can purchase one of the following: A “broad form” property policy: covers the basic named perils, and adds coverage for falling objects, weight (of snow, ice, or sleet), water damage (from certain causes) or collapse (from certain causes). An “all-risks” policy: covers …

Avoiding Winter Storm Damage

As you read this article, some business owners have already experienced damage from hurricanes. But more bad weather from winter storms — including windstorms, snow and, ice — is coming soon. Is your business prepared? Winter storms rank third in terms of the dollar value of damage they cause, second only to hurricanes and tornadoes. According to Forbes, a “simple” …

Is Distracted Driving Increasing Your Auto Insurance Costs?

At least 17% of all highway crashes are the result of distracted driving, according to the National Highway Traffic Safety Administration. That translates to approximately $148 billion a year — $47 billion in in physical damage plus $101 billion in “societal harm,” such as traffic congestion and lost productivity. Distracted driving can be visual — taking your eyes off the …