Insurance funds losses; it transfers risk from your company to the insurance company for a fee - premium. Deductibles are used to reduce the number of claims by having the business pay small amounts and only reporting larger issues.  The order in which claims are funded is: deductible, liability limits, and then company assets…and sometimes personal assets. Your company needs high liability limits to protect company assets.  Claims exceeding $1,000,000 in liability are i...

Most new business owners are concerned that everything is favorable for the success and safety of their business, which includes obtaining the protection of business insurance. However, longevity and success can cause complacency.  Let's say you started your business 10 years ago with just a small space and computer desk. Today, you have an office full of employees and equipment. Do you still have the same insurance policies and agent from 10 years ago? If so, you might be on au...

Your Workplace Response,  8 Tips to consider National Tragedy Affects The Workplace - Just imagine how many people learned of the September 11th attacks or the assassination of President Kennedy while going about their workday. Many national tragedies are first learned about while people are at work. When such events occur, employees gather around computer screens and televisions to watch the events unfold. They share information, sorrow, and concern; look out for each other; and try to em...

With less jobs becoming available today, there is a major problem presenting itself for employers. Employees who are applying for jobs are lying about important aspects of their lives. In most cases, the truth may be a disqualifying factor. To avoid the hassle of hiring an unfit employee, it's important to conduct a background check. Background Check Result StatisticsAccording to the ADP's 2009 Hiring Index, 46% of 1.7 million applicants reviewed had discrepancies in their resume's employment, ...

Imagine two accident scenarios. In the first, a construction worker falls off a ladder from 12 feet up and breaks his ankle. His employer has a policy requiring drug and alcohol testing for all workers who suffer work-related injuries that are likely to result in workers' compensation claims. Can the employer legally do that? If it can, is it a good idea?In the second, the construction worker is on the ground near the ladder. Someone asks him a question and he turns around to answer. At that exa...

Risk management is one of the most important tools available to keep your business's financial bottom line looking good. But, for risk management to be successful, you must be able to identify all cases of risk retention whereby you'd be responsible for any portion of a loss.If you can't transfer a risk to another party, then you retain the risk by default. There are both known and unidentified risk retentions. An example of a known risk retention would be your insurance policy deductible. This ...

It is hard to believe that the copy machine just recently celebrated its 50th birthday. There’s no question that these popular technological devices have proven to be worth their weight in gold for countless consumers and businesses. From copying to scanning and even emailing documents, copy machines are a must-have for most modern day companies.However, there’s a secret lurking inside the common copy machine that has identity thieves across the nation salivating. Nearly every copier that was bu...

On April 20, 2011, someone hacked the Sony Playstation Network. They found an opening in the online video gaming network's password-reset system and penetrated the security protecting its customer database. Days later, the company admitted that the hackers had obtained personal information on 70 million or more subscribers. The hackers got names, physical and email addresses, birthdates, and other identifying information, and it's possible that they got credit card numbers. Sony took the network...