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Monthly Archives

December 2014

Proper Insurance for Project Owners of Construction Works

By Employment Resources

A company owns property and has decided to build a condominium on the site. It has completed all the paperwork and has all the permits needed to begin construction. It is ready to finish the contract with a general contractor (GC). The property owner insists on liability protection from the general contractor, an unrelated entity. The GC has a few ways to give the coverage and the project owner is researching them before the contract signing.

Additional Insured Protection – General Contractor’s Commercial Liability Insurance

The project owner, let’s call them CCC (Condo Construction Company) want more protection than offered through an additional insured endorsement. On their last project, they ran into a problem caused by inadequate protection using the additional insured form of coverage.

CCC failed to let know the GC on the job that there was an abandoned well on the site. When a worker fell into the concealed well he suffered a broken ankle. CCC was found negligent due to the failure to tell the GC about the well. The ruling found that the GC had no liability, even partly for the injury to their own employee.

CCC suffered another setback when it discovered that the hold harmless and indemnity clauses of the contract cannot be enforced in the state the project was in as state law prohibits indemnification of the negligence of another in a construct contract. Most states have similar language in their statutes.

Based on this terrible experience, CCC no longer had any level comfort as an additional named insured coupled with hold harmless and indemnity clauses.

Owners & Contractors Protective Liability Insurance (OCP)

To give CCC more protection, the GC offered to buy OCP insurance with CCC as the named insured. CCC is not sure and this time consult with their insurance advisor who is against relying on OCP form as adequate protection. The reason is that the broker believes there are too many restrictions on the coverage provided by OCP insurance. Following a lengthy face-to-face conference, CCC felt that a different form of insurance was in order.

Owner’s Interest Liability — Project Specific CGL Insurance (Owner’s Interest)

This type policy provides more protection than the OCP policy or the endorsements and contract language of CGL coverage, hold harmless, and indemnification clauses in the construction contract.

In addition to protection from incidents occurring during construction, protection with an Owner’s Interest policy can extend to incidents after the project ends. For instance, this policy protects CCC from liability for a collapsed balcony after the GC completes the project and leaves the site and after the policy expires. CCC decides to buy this insurance for itself.

When the GC learns about the benefits of the Owners Interest policy they want inclusion in the coverage. Often, the insurance carrier will include as a “named insured” the GC, and the GC also has coverage for the extended time period.

To be clear, while endorsements to the CGL or OCP and protective contract language do go a long way towards protecting the project owner, Owner’s Interest insurance closes gaps left by the old way of doing business. Remember, that the value of an insurance policy is directly related to the risks it covers. Project owners who do not take any responsibility or costs for self-protection may pay more by not covering all potential risks.

Project owners and General Contractors, talk to your insurance advisor before signing your next construction contract.

Inland Marine Insurance -What it is and Why you Need It.

By Construction Insurance Bulletin

Although the origins of Inland Marine Insurance have roots back to the times when the main way of moving goods throughout the United States was by rivers, canals and even the oceans.

About Inland Marine Insurance

Inland Marine Insurance covers these cargos from total loss, damage or theft while traveling to its destination. As roads and railroads replaced waterways as the primary way to move goods, the Inland Marine Insurance form kept its name, but it added to goods shipped by boats, it now covers goods that ship by rail and trucks.

Many times small and medium-sized businesses skip this coverage as the policy is an Inland Marine insurance and owners feel that this cover is useless coverage as their business has nothing to do with boats. Without this coverage, products they ship and are lost, damaged or stolen in transit are often limited to the carriers provided per pound insurance – creating a financial loss for the company. Sometimes, it can cause a great enough loss that a company is bankrupt with it.

What is Covered By Inland Marine Policies

Modern Inland Marine Insurance Policies cover many things and comes in four major kinds of policies. Covered by these policies are:

  • Property being transported
  • Building under construction (also unknown as builder’s risk insurance)
  • Heavy construction equipment
  • Computer equipment and data

Inland Marine Insurance is also a form used to protect a business with expensive or unique property situation such as:

  • Bailee’s Coverage (for property of others accepted for cleaning, repairing, etc.)
  • Furriers Block
  • Jewelers Block
  • Equipment Dealers
  • Camera and Musical Instruments
  • Fine Arts
  • Exhibition Floater

Does Your Business Need Inland Marine Insurance?

If your business is a service and does not transport goods or products, you don’t need it, right? Wrong! Suppose you are an accountant or financial advisor who sees clients in their homes and offices. You work from your home and your business is kept on an expensive computer. Between appointments you stop for lunch, you left your computer in the car and during lunch someone stole it. Most general business property insurance limits or excludes the protection offered for lost data. Inland Marine Insurance often offers the best solution.

Contractors who own heavy earth moving equipment use Inland Marine Insurance to protect it while on a job site and on the way to the site.

Bailee’s coverage is important for any business that repairs, does other work on customer’s property such as a jeweler, or cleans other’s property benefit from marine insurance

These are only a few examples of how versatile Marine Inland Insurance is for businesses of all kinds. Speak with your insurance advisor to discover if and how this property coverage can work for you – even if your business has nothing to do with boats or water.

Ways an Eye Exam Improves Your Work Performance

By Employment Resources

If you haven’t received your annual eye exam yet, make an appointment today. The results can improve your work performance in several ways.

Improve Vision

When you can’t see clearly, you suffer from headaches and eye strain. Seeing the computer screen or small print becomes nearly impossible. An eye exam catches refractive errors like farsightedness, nearsightedness and astigmatism. If you have one of these errors, you’ll receive a prescription for corrective lenses. With improved vision, you actually see better at work and accomplish more while making less mistakes every day.

Assess Your Vision Health

Even if you have no vision complaints, your eyes could be unhealthy. An eye exam assesses your vision health and catches several conditions.

*Focusing problems mean you can’t see clearly when you look at something. You might dismiss this problem as tiredness, but it is a serious condition that affects your productivity.

*Strabismus is crossed or turned eyes. It creates depth perception problems and can lead to amblyopia.

*Amblyopia occurs when one eye is stronger and does all the work. This condition can cause permanent damage to the weaker eye, but an eye patch on the stronger eye ultimately protects your vision health.

*Binocular or eye teaming problems occur when your aligned eyes work independently instead of together. Headaches, trouble reading and eye strain are symptoms of this condition.

Detect Eye and Systemic Diseases

Various eye diseases affect your ability to see and could cause blindness and other long-term vision problems. At your annual eye exam, the optometrist or ophthalmologist will check every aspect of your eyes. He or she can detect cataracts and find glaucoma blood vessel leaks or observe macula swelling, two indicators of diabetes. High blood pressure and high cholesterol can also be detected during an eye exam.

While vision screenings are helpful, schedule an annual eye exam. It catches problems before your productivity suffers, headaches force you to call off work or diseases cause disability. Even if your employee benefits don’t include vision insurance, schedule an eye exam today. Your health and work performance depend on it.

Eight Networking Tips for Your Holiday Office Party

By Employment Resources

Your office’s holiday party is coming up. Are you dreading it? Change your perspective when you look at it as the perfect networking opportunity. With eight tips, this annual event assists you in building relationships, meeting senior executives and thanking your office mates.

1. Dress for success. While you can ditch the suit and tie for the office party, flashy, tight or wrinkled clothing makes you appear sloppy and unprofessional.

2. Turn off your phone. You’re at an office party, and now’s the time to relax and enjoy the moment, not check email or surf the web.

3. Introduce yourself to the host. Thank him or her for the opportunity to connect, and be prepared to share something positive about your team’s current project.

4. Use welcoming body language. Smile, stand tall, hold your head up, shake hands firmly, uncross your arms and legs, look people in the eye and lean in slightly while talking to someone. These welcoming stances invite people to start a conversation with you.

5. Talk to the loner. The new employee or shy person in the corner could become your new best friend or a partner for future collaborations. So introduce yourself, ask a few open-ended questions and look for common ground.

6. Eat before the party. You’re also less likely to mingle and chat when you’re hungry. Plus, you can’t talk when your mouth is full.

7. Go easy on the alcohol. While it’s okay to enjoy a drink – you’re at a party, after all – be responsible. You don’t want to jeopardize your reputation or career because you partied too hard.

8. Stay awhile. Unless you have an emergency or previously scheduled event, don’t cut and run as quickly as possible. Mingle and chat with your coworkers and be sociable for at least an hour.

Instead of dreading the office holiday party this year, embrace it. After all, it’s the perfect time to network and build office rapport with your coworkers as you look forward to greater success in the new year.

Don’t Forget About the Valuable Funds In Your HSA

By Employment Resources

As you’re prepping for the upcoming holiday season, consider adding your Health Savings Account to your to-do list. It only takes a few minutes to check your balance on your HSA statement. While those funds do rollover into the next year, consider using them this month for qualified medical expenses that assist you and your family members in staying physically and mentally healthy.

1. Vision aids and exams – Ensure you and your family members can see properly when you schedule visions exams this month. Now’s also a great time to buy extra contact lenses and cleaning solution or an extra pair of prescription eyeglasses or sunglasses.

2. Dental visits – Clean those pearly whites, begin orthodontic procedures, buy dentures or pay prepaid dental plan premium with your HSA funds.

3. Chiropractor adjustments – Schedule a chiropractic visit this month to fix an injury or solve a functional problem you may have, and you can use HSA funds to pay for it.

4. Physical therapy – While your health insurance may cover some physical therapy visits, HSA funds cover additional visits your doctor requests.

5. Prescription medications – Stock up on medications that lower blood pressure, ease pain or manage other medical conditions you or your family members may suffer from.

6. Over-the-counter medications – You can use HSA funds for a variety of OTC medication purchases, including first aid supplies, nutritional supplements and pregnancy tests. However, some OTCs may require a prescription. Talk to your HSA administrator for specific plan details before you head to the drug store.

7. Insurance premiums while unemployed – If you find yourself laid off or fired this month, use HSA funds to pay medical insurance and long term care insurance premiums.

8. Mental health care – Use HSA funds to pay for mental health evaluations and therapy related to a medical condition.

The money in your HSA is there to improve your physical and mental health. Instead of forgetting about it until next year, take advantage of your funds this month.

Top Reasons to Check out the Healthcare Marketplace This Month

By Employment Resources

Most employers offer health insurance as part of their employee benefits package. However, don’t sign up for your employer’s insurance until you visit the Healthcare Insurance Marketplace at healthcare.gov. This one-stop-shop for health insurance could provide you with big rewards.

Save Money

With many employers cutting expenses, your insurance premiums may be going up. Shop at the Healthcare Insurance Marketplace to see if you qualify for more affordable insurance coverage that saves you money.

Cover Dependents

While your employer sponsored health insurance covers you, it might not offer affordable coverage for your dependents. Research health insurance options for your dependents when you visit the Healthcare Insurance Marketplace.

Comply With Federal Law

Current law requires everyone in the U.S. to have health insurance coverage with minimum coverage requirements. If your employer-sponsored insurance doesn’t comply, you could owe $325 per non-compliant adult, $162.50 per non-compliant child or two percent of your household’s annual income. Every Healthcare Insurance Marketplace policy complies with the law, which means you can confidently buy a penalty-free policy.

Get a Tax Credit

Your income could qualify you for a tax credit on Healthcare Insurance Marketplace family or individual coverage. Even if you don’t receive a tax credit for your monthly premiums, you could receive a subsidy for deductibles, copays and other out-of-pocket medical expenses.

Now that you know why you should check out the Healthcare Insurance Marketplace, gather your documents. You’ll need details about household income and the people who live with you. If you need assistance, apply by phone at 1-800-318-2596 or ask for in-person assistance. The marketplace is open from November 15, 2014 until February 15, 2015, but apply by December 15 to ensure your benefits start by January 1, 2015. While you could find out that your employer’s coverage is a better option for you, you have several very good reasons for investigating your options.

 

Health and Safety Tips for Your New Year’s Eve Celebration

By Life and Health

In Times Square with thousands of strangers or in your living room with close friends, ring in the new year with a party. Just make sure to follow several tips that keep your New Year’s Eve celebration healthy and safe.

Drink Responsibly

If you’re planning to drink, do not drive. Don’t let your drinking friends drive, either. Instead, choose a designated driver, hire a taxi, take public transportation or invite everyone to crash in your living room.

Go easy on the alcohol, too. Pacing yourself prevents alcohol poisoning and ensures you can pay attention to your surroundings as you act smart and stay safe.

Handle Food Safely

Appetizers, hors d’oeuvre and snacks keep the party going. Heat food adequately and refrigerate leftovers promptly, though, to prevent food poisoning. Check in with guests about possible food allergies, too, as you safely indulge in party foods.

Navigate Crowds

Whether you’re a guy or gal, grab a friend and travel in a group for safety. Keep an eye on your surroundings, never go anywhere with strangers and never leave your beverage unattended. Leave your valuables at home and hold your phone and wallet in a front pocket, too, especially if you’re headed to a crowded celebration downtown.

Drive Carefully

Winter weather can make roads slippery, particularly when you travel after dark. Drive carefully as you leave early, go slow and maintain a safe distance from other vehicles. Of course, if the roads are too bad, stay home and watch the party on TV instead of going out this year.

Ban Guns and Fireworks

Stick with noise makers and sparklers if you need special effects on New Year’s Eve. Otherwise, an inexperienced user could kill or injure someone. Plus, shooting guns and fireworks could break local noise ordinances and other laws.

Ringing in the new year is a fun tradition. Use these tips to keep the party, your guests and you safe and healthy.

Safe Food Handling Tips for Your Holiday Meals

By Life and Health

It’s holiday meal time. Are you ready to prep your food safely? Utilize safe food handling tips to ensure you and your guests remain healthy as you indulge in your favorite foods together this year.

Wash Your Hands

Hot soapy water kills germs on your hands before and after you handle food. Be sure to scrub for at least 20 seconds.

Use Sanitized Cutting Materials

From the knives to the cutting boards, use only sanitized cutting materials to slice, chop and dice ingredients. Never cut raw meat and other foods with the same knife or on the same cutting board either unless those cutting materials have been washed thoroughly.

Thaw and Marinate Properly

Tightly packaged turkey, ham and other frozen foods thaw and marinate safely in the refrigerator. Don’t let them sit on the counter to thaw or marinate because bacteria multiplies quickly at room temperature and can cause food poisoning or food spoilage.

Cook to the Right Temperature

Use a food thermometer and check the internal temperature of all hot dishes before you take them out of the oven or microwave. Suggested temperatures are:

  • Beef, Lamb and Veal Roasts, Steaks and Chops: 160-170 F
  • Pork: 160 F
  • Turkey and Chicken Breasts: 170 F
  • Turkey and Chicken Legs, Wings and Thighs: 180 F

If you don’t have a thermometer, look for signs of doneness. Thoroughly cooked food steams, poultry and chicken juice runs clear, fish flakes easily and egg yolks look firm not runny.

Refrigerate Leftovers Promptly

No matter how carefully you plan the food, you’ll probably have leftovers. Chill Aunt Sally’s carrot soufflé and grandma’s pumpkin pie within two hours. If you leave them on the counter, they could grow bacteria and spoil.

Replace Towels Regularly

Dish towels, wash clothes and sponges clean your dishes, but they also harbor bacteria. As you prep your holiday feast, remember to switch the towels regularly. Wash towels and dish clothes in hot bleach water, and pop sponges onto the top shelf of the dishwasher.

With these food handling safety tips, you’re ready to enjoy your holiday meals and stay healthy. Happy cooking!

Prevent Childhood Choking This Holiday With Six Precautions

By Life and Health

While food is the primary cause of childhood choking, holiday decorations and other seasonal hazards can also be dangerous. If an item fits in a tube that’s one and three-quarters inches wide, a child can choke on it. As you decorate, unwrap presents and eat during holiday celebrations, take six precautions that keep your young guests safe.

 

  1. Hang ornaments, lights and tinsel out of reach. Shiny and inviting, these tree decorations should be kept on the upper half of the tree or placed on wreaths that are out of a toddler or young child’s reach.
  2. Remove fake berries from the table centerpieces. Kids are usually hungry, and fake berries look just like the real thing. So for safety, remove fake berries and any other artificial table centerpiece component that resembles something edible.
  3. Pick up small items like spare change, buttons and jewelry. Especially if you’re not used to having youngsters around, you may store these choking hazards in jars throughout the house or lying loose on counters. For safety, move them to a high shelf where little hands can’t reach.
  4. Give toy batteries to parents after the celebration instead of wrapping them with the gift. You don’t want kids to suck on or accidentally swallow batteries that are supposed to power their new toys.
  5. Toss wrapping paper, tape and ribbon as soon as the presents are opened. Have a trashcan handy, and use it to dispose of these choking hazards after each gift is opened.
  6. Store food out of reach. While you prep the meal, keep an eye on the serving area and table. Little ones may grab food, whether it’s bite-sized or full sized, and stuff it into their mouths. To be safe, prep a few kid-safe snacks in advance for hungry kids to enjoy between meals.

 

Create a choke-free holiday when you implement these six precautions. With them, everyone can enjoy a safe and happy holiday.

 

Heart Healthy Holiday Baking Tips

By Life and Health

Holiday baked goods often take center stage during the season’s preparations. Maybe you do have a large life insurance policy, but that’s not an excuse to load up on unhealthy baked goods this year. With a few simple substitutions, your goodies are heart healthy and yummy tasting.

 

  1. Reduce fat in cakes and cookies when you use applesauce in place of the fats like shortening, butter, margarine or oil. You can also use three smashed ripe bananas as a substitute for 1/2 cup fat. While this tip boosts your heart’s health, it also increases your vitamin C or potassium intake and ensures all your holiday goodies are moist.
  2. Lower cholesterol by substituting several tablespoons of white refined flour with oat bran. The texture of your baked goods remains unaffected, but their health benefits skyrocket.
  3. Increase antioxidants when you substitute one ounce of unsweetened baking chocolate with three tablespoons of antioxidant-rich cocoa and one tablespoon of canola oil. Why is this substitution important? Antioxidants may lower harmful LDL cholesterol and reduce your heart attack risk.
  4. Boost omega-3 fats and antioxidants in your holiday diet when you add chopped walnuts to cookies, cakes and pies. Out of all the nuts on your grocery store shelf, these nuts pack the most powerful antioxidant punch. They taste great, too.
  5. Consume more fiber by substituting whole wheat flour for half of the white refined flour in your baking recipes. The extra fiber helps you stay regular and reduces holiday bloat, but this important nutrient also lowers your cholesterol, regulates blood sugar and controls weight.

 

Which holiday goodies are you most excited about eating this year? Make a few simple changes to your ingredients list as you create health healthy desserts. Then, consider using these heart healthy switches in your baking year round as you improve your health and wellbeing.