Insurance Made Simple Blog

I got a terrible call this morning from one of my clients.  We'll call him "Gullible Gill".  Gill called and told me he showed up at his office this morning after a few days of vacation and his safe had been cleaned out and his office assistant of 10 years was no where to be found.  Gill owns a popular bar in town and often has a lot of cash on hand.  The bartenders lock up the cash at night and then Gill comes in each morning and counts it and takes a deposit to the bank or has his assistant do it.

Many business owners (me included!) sign contracts without carefully reading and understanding the terms and more importantly how contact terms effect their insurance programs and premiums.  It is important to have your insurance broker review the insurance requirements of every contract associated with your business and determine the ability to comply.  This is especially true when it comes to waiver of subrogation clauses. 

I received a call from a client today regarding a large claim he made on an insurance policy not handled by my office.  It got me thinking about the claims process and how policy holders aren't well instructed as to how the system works and where to go for help it a claim isn't being handled to their satisfaction.

Did you know that employee attitude is one of the most important elements of workplace safety?  Studies consistently show that companies that encourage team building, a positive workplace and Workers' Comp. incentive programs have fewer claims and lower Workers Comp. premiums.

With all the things that an employer has to manage and monitor each day it's difficult to advocate that they also monitor the proper layout and use of workstations.  However, its' a critical task in terms of eliminating and mitigating Workers Comp. Claims.  About 35% of all worker related insurance claims filed each year are somehow related to poor workstations.

You do all the right things to protect your buisness:  promote good safety practices, hire the best people, consult with your  broker annually about your insurance coverage and buy the best insurance policies you can afford.