Monthly Archives: April 2013

10 COSTLY RETURN-TO-WORK MISTAKES

By decreasing work time lost from to job-related injuries and illnesses, Return-to-Work (RTW) programs can reduce your insurance costs (Workers Compensation, Disability, and Medical insurance), strengthen workplace morale, boost productivity – and help protect you against ADAAA litigation. Here are ten common mistakes by businesses when using RTW: Failure to manage the higher number of… Read more »

PROACTIVE EMPLOYEE HEALTH PROGAMS MAKE SENSE – AND DOLLARS

Basic health interventions can help your business lower short-term disability rates, while reducing your employees’ time away from work. That’s the bottom line of a nationwide study of 118,000 employees by CIGNA, a major health services company. CIGNA found that these measures, combined with predictive analytics, cut disability rates by 15% among employees at high… Read more »

KEEPING YOUR ‘LONE WORKERS’ SAFE

Some companies employ workers who work alone or in remote areas where injuries and illnesses can occur, resulting in delays in emergency response or medical assistance. They include people who work outside normal business hours, such as janitors, security guards, special production, plant maintenance or repair staff, delivery truck drivers, and others. Protecting the safety… Read more »

WORKING WITH THIRD-PARY ADMINISTRATORS HELPS CONTROL CLAIMS

Third-Party Administrator (TPA) adjusters form the front line of defense against unnecessary claims expenses, including such traditional cost drivers as fraud or opioid pain medication addiction. They’re the ones who determine how soon employees will mend and return to the job, the length of claims, and whether closing a claim will require additional resources, such… Read more »

PROTECTING YOUR BUSINESS: THE CGL SOLUTION

In today’s “litigation society,” you face lawsuits that could cripple your bottom line – or even put you out of business – based on anything from a fire on your premises to an allegation of libel by a competitor. Commercial General Liability (CGL) insurance provides financial protection against damage or injury caused by something that… Read more »

COMBATING INTERNAL FRAUD: BE PREPARED

Not every threat to your business comes from outside. A nationwide survey reported 778 internal-fraud cases in 2012, involving such scams as phony bills (three in four cases), corruption, and expense reimbursements. In more than half of these cases, the victimized company lost only $200,000 or less. However, fraud causes its real damage through private… Read more »

BUSINESS PROPERTY INSURANCE: REPLACEMENT COST OR ACTUAL CASH VALUE?

Business Property insurance protects your building and property against loss or damage from theft, accident, and a variety of other causes. The policy will pay for replacing or repairing covered property or providing compensation for irreplaceable items. If you don’t own your building you’ll still need to cover its contents: fixtures, furniture, office equipment, inventory… Read more »

HAVE YOU REVIEWED YOUR BUSINESS INTERRUPTION POLICY?

Business Interruption (BI) insurance makes sense. Consider Allison Dorst, a New Jersey resident who operates three e-commerce web sites selling sportswear. Last fall, Superstorm Sandy brought a prolonged power failure that shut down Dorst’s customer-service lines, causing sales to evaporate. She’ll also see lower sales because of a month-long delay in the delivery of next… Read more »

RISK MANAGEMENT: KEEP SAFETY IN THE FOREFRONT

Once employees have gone through safety training, make sure that they use what they’ve learned. When every worker knows and chooses the safe way on a daily basis, you’ll have a workplace with less chance of accidents and injuries. This four-step approach to job safety will pay dividends: Team up to solve problems and improve… Read more »

USE SOCIAL MEDIA AS A RISK MANAGEMENT TOOL

Given the dramatic impact of social media on the speed and delivery of news and information, it makes sense to make this fast-growing technology part of your risk management program. More and more reputational crises – such as the recent stranding of the Carnival Triumph cruise ship – are born on social networking platforms and… Read more »