
Here’s what you need to know about protecting your small business with surety and fidelity bonds — which are the two main types of business bonds.
There is no substitute for experience. Look to KSI to protect your personal or corporate assets, reduce your risks and deliver uncompromising results.
August 29, 2018
Here’s what you need to know about protecting your small business with surety and fidelity bonds — which are the two main types of business bonds.
August 27, 2018
It’s more important than ever to know how to protect your business from a lawsuit. According to the U.S. Chamber Institute for Legal Reform, in 2008 (the most recent data available), small businesses paid out more than $105 billion in tort liability costs. Unfortunately, small businesses are often underinsured. Of that $105 billion, over $35 billion was paid out-of-pocket to settle claims.
If you want your business to be a success, you’ll also want to understand which types of small business insurance you need. Most liability claims costs can be covered with general or professional liability insurance. A better understanding of the differences between general and professional liability insurance is critical in an environment in which the threat of lawsuits continues to grow.
August 24, 2018
If you’re a hands-on small business owner, it’s crucial to plan for a day when a crisis — a sudden illness, family emergency, or travel disaster — keeps you away from the office.
Smart business owners get business insurance to help protect against common risks like natural disasters and theft, but then some fail to put a plan in place to safeguard the company if an unanticipated event detains the owner for days, weeks, or even months.
That’s what happened to Teana McDonald, founder of 3E Connections, a social media and public relations agency in Florida. Her attitude before a crisis hit? “I’m Superwoman, right? There’s no way I’ll ever catch the flu and be ordered to stay in bed for five days,” she says.
When she did get felled by influenza, she panicked and got sicker because she was not 100% confident that her one employee could run the business while she recovered. So she switched all in-person meetings to phone conferences. She also managed billing, customer inquiries, client proposals, and more from her bed, “while near death,” she says.
However, you can avoid a similarly dramatic scenario if you take these five steps to prepare your company for your absence in an emergency:
August 22, 2018
The right insurance protection can help mitigate the impact of some of those risks. Here’s key information about insurance coverage for the costs and process of a product recall:
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August 20, 2018
Manufacturers reported greater concerns about attracting and retaining talent, safety on the job and returning employees to work after an injury, compared to businesses overall.
As increased automation, globalization and a changing workforce continue to reshape manufacturing, the top manufacturing concerns reflect these emerging trends. With a growing skills gap for highly technical jobs, manufacturers are more concerned about attracting and retaining workers (63%) and workplace injury (47%) than the general business population.
The impact on the business if highly skilled employees are injured can be significant, both in terms of lost productivity and increased medical costs. With soft tissue injuries and chronic pain bleeding into healthcare costs, manufacturers need proactive management of their workers compensation process to contain costs and help employees through the process of returning to work. Manufacturers are more worried (35%), compared with other industries about effectively returning employees back to work after an injury.
The loss of critical equipment can also present challenges for manufacturers, particularly if that equipment is not insured for its full replacement cost. Contrary to what manufacturers may believe, the cost of replacing aging equipment may actually increase over time. And while two-thirds of manufacturers say they have a business continuity plan in place, it may not address leased equipment, another area in which manufacturers are often not fully insured.
August 17, 2018
Remind your kids to stay safe around the school bus. Watch our video for some important tips.
August 15, 2018
August 13, 2018
College students may be in unfamiliar territory when they take their cars to campus. Our video has tips to consider before venturing out.
August 10, 2018
Safe driving is more than simply driving the speed limit. It’s about proactively scanning the environment, staying focused on the road and being prepared for unexpected events – which occur every day while driving.
See attached PDF with valuable information on distracted driving Every Second Matters
August 8, 2018
Distracted walking is becoming a major safety concern. In 2017, almost 6,000 pedestrians were killed.
Causes of Distracted Walking
Interestingly, the rise in distracted walking accidents has occurred at the same time the US experienced an increase in smartphone usage. Millennials between the ages of 18 and 34 are more likely to engage in common distracted walking behaviors. What might be surprising, though, is that evidence indicates women ages 55 and older are the most likely to suffer serious injuries.
While one may suspect that smartphone use contributes to this trend, it is by no means the only cause of inattentiveness while walking. Other possible causes of distracted walking may include personal problems, deadline focus, or complacency.
Common Risks Associated With Distracted Walking
Common injuries pedestrians risk when they engage in distracted walking include
Many people believe themselves to be the exception when it comes to distracted walking. However, a study by the American Academy of Orthopaedic Surgeons found that 75 percent of respondents said that “other people” walk around distracted, while only 29 percent admitted to being guilty themselves. Moreover, only 46 percent of these considered their behavior “dangerous.”
There is scientific evidence suggesting that no one can truly multitask and people can only give their full mental attention to one thing at a time. Trying to keep track of more than one activity or thought process leaves you switching focus constantly and your brain playing catch-up.
August 6, 2018
The facts on specialty insurance
You might have heard the term before—”specialty insurance”—and thought it wasn’t for someone like you. After all, it sounds more like the insurance athletes buy to cover lost income in case of a career-ending injury, or coverage that billionaires get for kidnapping or extortion situations.
Yes, those policies really exist. But when you hear Safeco or your independent agent talk about “specialty,” it means something quite different: It means protecting your labors of love and lifelong passions (even if you’re not a billionaire).
Do you have a motorcycle? A boat? What about a classic car or an RV? Maybe you own a home that you rent out.
In all of those instances, you need the additional protection of specialty insurance.
Why do I need it?
Unique situations and specialized items, such as motorcycles and boats, need specialized protection that go beyond what standard auto and homeowners policies can provide. For example, if you are a landlord and you decide to evict your renters, you could be sued. A homeowners policy doesn’t cover that—but a Landlord Protection policy does.
If you have a boat, your state might not require you to have insurance for it. But homeowners policies often only provide limited coverage (if any), and they usually don’t cover injuries or accidents that happen on the water. Watercraft coverage protects you against theft, liability and more.
Perhaps the most common specialty coverage is umbrella, which provides an extra layer of protection beyond your home and auto policies. Say you’re responsible for a crash with multiple injuries. Your auto liability limits likely aren’t enough to cover all of those expenses, which means you could be on the hook for the additional costs. An umbrella policy is designed to kick in at that point, paying the amount above your other policy’s limits.
August 2, 2018
As your professional insurance partner, we are here to help you manage risk, but even the best-made plans change or unexpected situations come up. That’s when we need to hear from you. It is important that we are advised of any changes in your business or personal life that may have a bearing on the validity and/or adequacy of your insurance.
These are some examples of when we need to hear from you in order to keep help your business growing and keep your employees happy and engaged.
A lot can happen in a year and we want to make sure your policies keep up with you.
Insurance policies should not be stagnant; they must reflect changes with you or your business. We are part of your professional team that provides protection.
August 1, 2018
College can be an exciting time for young people. It often serves as the first major step on the road to independence. For a parent, it can be both exciting and sad to watch your child leave home. This time also can be fraught with worries. Will they get enough to eat? Will they succeed without help? Will they and their possessions be safe away from home?
The last question, of course, is a significant concern and, for parents of first-time college students, the ins and outs of insurance coverages are not always clear. From auto coverage to renters insurance, there’s a bit to learn about the life of a college student.
Protecting Possessions
When a student moves to college, she or he often brings many belongings from home. In addition to clothes, shoes and toiletries, most college students take stereo systems, cell phones, laptops, jewelry and other valuable items to their dorm room. At home, possessions are protected under a homeowners policy. But what happens when a child is away at school?
In an environment where theft is a real problem – there are approximately 798 burglaries for every 100,000 students – proper coverage is important. For students living in dorms, the family’s homeowners insurance can protect many possessions. But don’t take this for granted. Be sure to contact an independent agent to verify the coverage you may already have. As Selective notes, some policies limit coverage on dependents’ dorms to 10% of the value of the home’s total coverage amount. So be sure you know the coverages for your homeowners insurance policy.
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