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Monthly Archives

June 2015

Jun 01
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Four Reasons Why You Should Join Your Employer’s Group Life Insurance Plan

By Life and Health
Your life insurance policy provides financial provision and peace of mind to your family after you die. While you could buy a private policy, many employers offer a group life insurance option that offers four important benefits.
1. Protect Your Dependents
As the primary provider for your family, you ensure their needs are met. What happens if you were to die, though? With life insurance, your beneficiaries receive funds that pay bills, cover cost of living expenses or pay for college. Instead of hoping nothing happens to you or believing that you’re too young to die, select a life insurance policy offered through your employer’s group plan, and protect your dependents.
2. Cut Your Policy Costs
When buying groceries, items sold in bulk are cheaper per unit than items sold in individual packages. The same principle applies to life insurance. Because more people participate, insurance companies can offer group policies at lower premiums. Although a group life insurance plan does not offer as much flexibility as an individual policy, group policy costs are cheaper, making life insurance affordable.
3. Pay the Premium With Ease
Participate in a group life insurance plan offered through your employer, and enjoy easy premium payment. That’s because your employer will typically deduct your policy premium directly from your paycheck. You receive important coverage, and you have one less thing to think about each month.
4. Stay Covered After you Retire, are Disabled or are Laid Off
Although your employer’s group plan is designed for employees only, you can sometimes keep the policy after you retire, are disabled or are laid off. Typically, retirees or former employees who are disabled or laid off must pay the full premium or transfer coverage to an individual policy. However, the extra cost is worth the peace of mind life insurance provides.
Talk to your human resources manager or insurance rep today about group life insurance. Choosing this option means you protect and provide for your family at a price you can afford.

 

Jun 01
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Five Medical Conditions That Affect Your Life Insurance Rates the Most

By Life and Health
You know you need life insurance, but finding affordable coverage is difficult if you suffer from certain medical conditions. Five specific medical conditions could be affecting your life insurance rates. Know what they are and how to address them as you find affordable life insurance coverage.
Heart Disease
Whether you have an official heart disease diagnosis or heart disease runs in your family, expect to pay higher life insurance premium rates. Lower your risk of developing heart disease when you adapt a balanced diet, exercise moderately for 30 minutes most days and stop smoking.
Diabetes
Type I diabetes typically develops during childhood, and this medical condition will increase your life insurance rates if you can find a company to insure you. Alternatively, adult-onset diabetes is sometimes manageable with dietary changes, exercise and medication. If you have Type 2 diabetes, commit to lifestyle changes and possibly see lower life insurance rates.
Cancer
Certain types of cancer, like skin cancer, do not affect your life insurance rates. However, other types potentially decrease your insurability or raise your rates. See your doctor for annual screenings if cancer runs in your family, and ask about other ways you can reduce your cancer risk.
Obesity
You might not feel unhealthy after a weight gain, but obesity can cause health conditions like heart disease. That means your life insurance rates will increase if you’re obese. Use the CDC BMI calculator to determine if you’re overweight. Because life insurance companies follow different weight guidelines, you can shop around and possibly find rates you can afford.
Pulmonary Disease
Asthma and COPD are two examples of pulmonary disease that affects your life insurance rates. While seasonal asthma will not increase your premiums, chronic conditions will cost you more.
Your medical conditions affect your life insurance rates, but every life insurance company has different guidelines that determine policy costs. Your life insurance agent will provide details about how your medical conditions affect your rates. Get those details today as you ensure you’re adequately covered by a life insurance policy that provides for your family.

 

Jun 01
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Best Ways to Prevent Home Break-Ins

By Personal Perspective

Your home doesn’t need an expensive security system to prevent burglaries. Several simple but powerful steps help you secure your home and prevent break-ins.

Lock the Doors and Windows

Forty percent of burglaries occur because robbers can simply walk, crawl or climb into houses. Even if you’re at home, lock your doors and windows. Remember to lock basement, second floor and attic entryways, too.

Hide Valuables

Leave your valuables in plain sight, and you invite a break-in. Instead, be careful what you toss or recycle because thieves can use your trash to see what types of things they might find inside your home. Likewise, never leave valuables like your motorcycle or bike unattended in the driveway, and close your home’s curtains.

Pretend You’re Home

Even if you’re on vacation, you can pretend your home and fake out potential burglars. Leave your front porch light or an interior light on, turn on a radio and ask a friend to grab your mail and newspaper every day as you protect your home.

Secure Doors and Windows

Wimpy doors and windows give thieves easy access to your home and garage. Invest in quality steel doors and double paned windows for greater security. You can also install nails on your window frames to prevent someone from opening an accidentally unlocked window.

Maintain Your Landscaping

Instead to surrounding your house with tall plants that give thieves a place to hide, use your landscaping as a criminal deterrent. Plant prickly roses under windows, and keep all exterior plants trimmed. Cut off tree branches that extend to your roof, too, to deter access to your second floor.

Know Your Neighbors

When neighbors unite, crime decreases. Start a Neighborhood Watch Program or agree to keep a casual eye on the homes in your neighborhood as you prevent break-ins.

These tips help you avoid break-ins, but you also want to purchase or update a home insurance policy. While it won’t prevent a break-in, it does give you peace of mind if a burglar strikes. 

Jun 01
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Are Overnight Guests Covered by Your Renters Insurance Policy?

By Personal Perspective

Renters insurance covers your possessions if they’re stolen, lost or damaged. It also gives you liability protection if you or someone else is injured while visiting you. You may wonder, though, if overnight guests who are not listed on your policy are covered by your renters insurance.

If Their Stuff is Stolen

Let’s say you and your guest go out for the evening and come home to find that all the electronics in your apartment were stolen, including your guest’s laptop. Would your guest be able to file a claim under your renters insurance policy?
Perhaps, depending on your coverage. When you purchased your policy, you included a value of all your possessions. If the value of the stolen items does not exceed your policy limit, then you can file a claim for all the stolen items, including your guest’s laptop.

Next, see if your policy covers actual cash or replacement value. Actual cash value coverage reimburses you the amount of money you paid for the item when you first bought it. Replacement value coverage gives you enough money to buy a new item at today’s cost. This policy detail determines whether or not your guest receives enough money to buy a new laptop.

Likewise, you have to prove what’s missing. You’re welcome to include your guest’s laptop in your claim, but you’ll need a physical description of the stolen item, including its serial number and value.

If They’re Injured

When one of your guests fall down the steps, your renters insurance may pay for medical treatment. The same theory applies to guests who stay overnight. Check your policy for liability limits, but rest assured that injuries your guest suffers while staying with you could be covered by your renters insurance.

If They Do Damage

Suppose your guest becomes clumsy and accidently smashes your glass figurine collection. File an insurance claim to replace the items. Whether you damage your belongings or someone else does, your renters insurance will cover it.

When will your next overnight guest arrive? Update your renters insurance now to ensure you’re ready for anything. 

Jun 01
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Facts to Consider Before Serving Alcohol to Backyard Party Guests

By Personal Perspective

Now that summer’s here, you’re ready to invite guests over to party. What responsibilities do you have, though, if you serve alcohol? Consider these facts.

You’re Responsible

If one of your guests drinks and injures someone or causes an accident during or after the party, you could be responsible thanks to social host laws that vary between states. Understand your state’s laws and be prepared to serve alcohol responsibly because your intoxicated guests’ actions could become your liability.

Protect Your Assets

Your home, bank accounts and paychecks are at risk if you’re found liable for an intoxicated guests’ actions. Lawsuits could run into the millions of dollars, especially if someone is killed. Protect your assets when you:
*Stay sober

*Limit drinks

*Don’t play drinking games

*Say no when someone’s had enough

*Designate a driver to take guests home, call a taxi or let guests crash at your house until they’re sober
Never Serve Alcohol to Minors

Every state and even municipalities within a state enforce different laws about serving alcohol to minors. However, you’ll stay on the right side of the law if you don’t serve alcohol to minors during your backyard parties or leave alcohol available during parties your kids might host when you’re not home. Doing so could get you fined or jailed.

All Home Insurance Policies are not Created Equal

Home insurance policies can include social hosting liability that you’ll need if you serve alcohol to party guests. Review your policy today and make sure it includes adequate social hosting liability coverage. If it doesn’t, discuss your options with your agent or shop around for a policy that will protect you and your assets.

Backyard party season has arrived, but be careful when you serve alcohol. Know the facts so that you can protect yourself and your guests. Be sure to review your homeowners insurance policy, too, as you maximize your coverage and prepare to have a fun and safe summer.

Jun 01
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Should Teen Drivers Have Their Own Auto Insurance Policies?

By Personal Perspective

Now that your teen is driving, you need to purchase auto insurance for him or her. That means you need to decide if the family’s newest driver will have an individual auto insurance policy or be added to the family policy. Learn the pros and cons as you make this important decision.

Pros

  1. Teens reduce their future insurance costs when they get an individual policy. By proving that they’re responsible and safe drivers, teens build a track record that can gain them favorable auto, renters and other insurance policy rates in the future.
  1. Building credit is possible with a teen auto insurance policy. Of course, teens have to pay their premiums on time to earn this benefit, but they’ll reap the rewards when they go to rent an apartment or open a credit card in a few years.
  1. Teens have access to several unique auto insurance discounts. Taking a safe driving course, maintaining good grades, holding a steady job and paying premiums on time are four unique discounts that some insurance companies offer to teen drivers.

Cons

  1. Many insurance companies won’t give risky teen drivers an individual policy. Statistically, teens are the most dangerous drivers on the road because they are inexperienced and easily distracted. Remaining on a parent’s policy may be the only insurance option available to teens.
  1. Teen policies are expensive. Insurance companies typically charge higher rates to drivers under 25. Plus, teens can’t take advantage of multi car and multi policy discounts. Because of these factors, teens face high auto insurance costs.
  1. Parental auto insurance rates can increase by hundreds of dollars thanks to teen drivers. Not only does adding another driver and car cause the policy premiums to rise, but any claims also increases insurance premiums.

If your teen really wants his or her own auto insurance policy, shop around for the best rates and coverage. In cases, the higher premium costs for a teen policy provide benefits are a good trade-off for teens and their parents.

Jun 01
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The Importance of Technology Security Training for Employees

By Risk Management Bulletin

Many businesses go to great lengths to secure their physical assets, but often leave gaping holes in their electronic security protocols. While IT administrators can provide some protection, it’s up to the users to keep a network secure. Employers must ensure that employees are trained on avoiding common risks that can compromise technology or cause expensive repairs. Here are some critical security areas that employees should be trained on.

Phishing
Phishing occurs when someone attempts to get employees to click on links to fraudulent websites or to provide or verify personal information. Train employees to never click email links from individuals whom they don’t know. If an email looks questionable, call the person or company sending it to verify that it is really from them. Finally, educate employees to never provide personal company or employee information to anyone. All legitimate requests for personal information must go through an HR representative or company leader.

Viruses
Server-wide antivirus systems provide some protection. However, viruses can still slip by, especially very new ones. Teach employees to never download files from individuals that they don’t know or from websites that are not well-known. Additionally, instruct employees to immediately notify the IT department if their antivirus system catches a virus so that their system can be assessed for additional damage.

Unapproved Software
New software is developed daily and much of it has real business benefits. However, much of the freeware that is available from the Internet isn’t secure. The files themselves can contain viruses or the products can have security holes that allow hackers to access your computer through the software. Businesses should have an approved software list and employees should not install anything not on the list.

Mobile Device Security
Today’s mobile workforce uses phones, laptops and tablets in addition to standard desktop computers. However, these items can also cause security issues. Develop protocols for the types of software and apps that can be installed on these devices and periodically check to ensure employees are adhering to them. Items like laptops and tablets also need functioning antivirus software running on them. Additionally, instruct employees to never connect their personal devices to work devices to prevent the infection of the network.

Thomas Fenner Woods Agency 614-481-4300 Website

 

The Most Common Workplace Injuries Aren’t Major Accidents

When many people think of workplace injuries, something major like a forklift accident comes to mind. However, data shows that the majority of workplace accidents aren’t actually that dramatic. In fact, many of them are everyday occurrences that can happen to anyone. However, these seemingly minor mishaps can still cause significant harm to both employees and the employer.

Top Workplace Injuries

Each year, the Department of Labor and Bureau Statistics releases the top injuries that resulted in worker’s compensation claims for the previous year. Interestingly, the injuries don’t really change that much from year to year, and they aren’t life-threatening accidents or chemical spills. In fact, most injuries are due to overexertion, falls and accidental trips. In 2014, the top injuries were:

  • Overexertion
  • Falls on same level
  • Being struck by an object or equipment
  • Falls to lower level
  • Other exertions or bodily reactions
  • Roadway incidents involving motorized land vehicle
  • Slipping or tripping without falling
  • Being caught in or compressed by equipment or objects
  • Repetitive motions involving micro-tasks
  • Being struck against an object or equipment

Avoiding Workplace Injuries

Preventing these types of mishaps is a two-fold process. It requires adequate employee training as well as modification of the workplace to reduce or eliminate the chance or injury. With regards to safety training, it’s clear that employees need reminders on the proper way to lift, carry and move objects around the workplace. Back injuries caused by overexertion don’t just happen on the loading dock. They also happen when receptionists attempt to carry supply boxes that are too heavy. Employers should conduct an annual training class that provides tips on preventing these commonplace injuries.

Modifying the Workplace

In most cases, workplace modifications will also need to be made. For example, to prevent slips and falls, modify all not-carpeted areas to include carpet or slip-resistant flooring. Additionally, remove all tripping hazards from working areas, such as unsecured cords and even boxes and work supplies. If inadequate storage results in piles of supplies near walkways, install shelving or another solution to reduce the risk of accidental injury.

Jun 01
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Can you Really Get Sued for Making an Honest Mistake?

By Risk Management Bulletin

Many businesses don’t realize that they face the same risk of a lawsuit as physicians. Just as a patient can sue a doctor for malpractice, a customer can sue a business if a product or service causes harm or does’t live up to their expectations. The truth is that the causes of many lawsuits are honest mistakes or issues that the business owner didn’t even know about. However, the fact remains that if you provide a service or sell a product to a consumer, you are responsible for the outcome. The good news is, that there are insurance products that can protect you in case the worst does happen.

Examples of Lawsuit Causing Mistakes
Honest mistakes that can result in lawsuits are wide ranging and encompass every industry. For example, if a wedding planner books a reception and wedding for the wrong date, the bride may sue for the cost of the rental, the cost to book another rental at a late date and emotional distress.
Another example is when a service is not performed to the client’s expectation. For example, if a website designer does not deliver a website on time, it costs the client business which they can then sue the designer for. Or, if the website doesn’t meet the quality standards the client wanted, they may claim that it damaged their reputation which they may also sue for.

Professional Liability Insurance
Professional Liability insurance is sometimes called Errors and Omissions coverage and can cover either an individual or a company. Businesses pay premiums and receive certain predefined levels of coverage. This coverage pays for things like court costs, settlements and judgment that are associated with any lawsuit brought against the business.

Business At Risk

Lawyers and accountants are two of the major professions that need to have professional liability insurance. However, there are many other types of businesses, and even side businesses, that need it to. These include advertising agencies, commercial printers, web hosting companies, wedding planners and even caterers. Basically, any business that provides a good or a service to consumers for a fee is at risk of being sued. 

Jun 01
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Employee Online Activity Can Make or Break a Business

By Risk Management Bulletin

Social networking is a valuable and cost-effective advertising method for most forward-thinking businesses. However, it can also be a  land mine for lawsuits, damaged reputations and inappropriate sharing. For this reason, business owners must set clear guidelines on how employees are to act online. Here are some areas to cover when training employees on appropriate online behavior.
Avoid Lawsuits

Because social media is an anything-goes type of world, the potential for lawsuit abound. The most dangerous areas involve posting content, images or logos that are copyrighted. Additionally, making  negative comments about a company or individual is likely to draw an accusation of slander. In general, businesses should train employees to avoid referring to other companies or products at all. Focus only on the positive aspects of your own business.
Avoid Damage to the Company Reputation

Many employees interact on social media the same way that they interact via text message or with their friends. Responses are often off-the-cuff and sometimes off-color or inappropriate. In addition, some people tend to blow things out of proportion online disagreements occur. Businesses must train employees on how to act professionally when using the company’s social media sites. These sites are representing a brand and the company’s reputation must always be protected. Provide examples of how to deal with unhappy clients so that employees are prepared when it happens.
Regulate Employee’s Personal Social Media Sites

Employees with personal social media accounts often want to like, share or post to the walls of their employer’s accounts too. This is actually a good thing and helps generate tremendous marketing for a business. However, business owners must set a strict social media policy that informs employees about what is appropriate and inappropriate for the work sites. For example, a business may not want employees posting to their site if the employee’s profile image is them in a skimpy swimsuit or holding multiple alcoholic beverages. Inform employees that these images are fine for personal use but are not to be displayed in any way on the business site.

 

Jun 01
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Slips and Falls: prevent these most common injuries

By Workplace Safety
The slip, trip, and fall injuries can be prevented; yet, they are among the most common liability claims.
Fifty percent of facility claims can be traced to flooring and maintenance of those floors. If either is improper, slips, trips, and falls occur. Fifteen percent of all accidental fatalities involve slips, trips and falls. Automobile accidents are the number one cause of accidental deaths, slips and falls number two. Become aware.
Walk around your facility, inside and out.
Outside:
1. Check the parking lot and drive areas for potholes, cracks, uneven pavement, concrete heaving or subsidence (sinking) on walkways.
2. Check around curb inlets (stormwater throats). Often the tops do not match the surrounding sidewalks for elevation.
3. Observe the green space, grass and flower beds, for burrows that animals may have dug. Groundhogs can create a terrible trap causing broken legs and sprained ankles with deep holes. Moles and voles too.
4. Look for areas washed by stormwater or sprinkler flow.
5. Are all stairs visible, well lighted and handrails in place?
6. Anywhere people may walk, check for even or level conditions and well-marked stairs.
Inside:
1. Check transition areas between rooms to assure no dramatic steps down or up.
2. Are all hallways and stairs free and clear of debris or storage items?
3. Check all rugs to assure edges are secured to the floor to avoid trip hazards.
4. Generally, are all footpaths free of trip hazards and clutter? Ample room to walk?
5. Kitchens and shop areas: are all spills cleaned up immediately?
6. Are all stairs visible and handrails in place?
Generally look for any materials which could be slipped upon or tripped over inappropriately stored or left in a walkway of any sort.
Repair or replace any defective conditions with proper materials or standard operating procedures.
Slip and fall prevention requires diligence. Daily inspections and awareness should be built into every supervisor’s day to quickly remediate any dangerous condition.
In shops, wash bays, kitchens, or any wet floor surface area, workers and guests should wear non-skid shoes.
Awareness leads to prevention. 

 

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