risk management

5 Risks Every School Has

…and how to lower it.

1. Harassment and Bullying Spark More Lawsuits

All school personnel should receive misconduct alertness training so they can spot the signs of abuse and intervene early.
Anonymous reporting tools can also help drive earlier intervention.

2. Title IX Expansion Increases Due Process Liability.
Title IX is a law that was meant to bar discrimination based on sex in educational program activities and athletics that received Federal financial assistance.

Higher ed institutions should have a Title IX adviser on staff who understands the law and can advise schools on the best course of action to take when a complaint is filed.Read More »5 Risks Every School Has

Ordinance or Law Insurance Coverage

Generally, Ordinance or Law insurance coverage provides limited protection for costs associated with repairing, rebuilding, or constructing a structure when physical damage to the structure by a covered cause of loss triggers an ordinance or law.

According to Adjuster’s International Disaster Recovery Consulting, compliance with ordinances and laws after a loss can add 50% or more to the cost of the claim*.

Insureds should take a proactive approach to their insurance program and the coverage provided by the program. Learning about important exclusions and limitations after a catastrophe strike will cause the Insured to experience frustration and anxiety. Insureds should always read their policies, and in some states, may be required by law to do so.

Ordinance or Law Exclusion

Most property insurance policies will have an Ordinance or Law exclusion. The exclusion applies to both physical damage and time element coverage.Read More »Ordinance or Law Insurance Coverage

11 tips for effective workplace housekeeping

11-tips-for-effective-workplace-housekeepingTo some people, the word “housekeeping” calls to mind cleaning floors and surfaces, removing dust, and organizing clutter.

But in a work setting, it means much more. Housekeeping is crucial to safe workplaces. It can help prevent injuries and improve productivity and morale, as well as make a good first impression on visitor. It also can help an employer avoid potential fines for non-compliance.

The practice extends from traditional offices to industrial workplaces, including factories, warehouses and manufacturing plants that present special challenges such as hazardous materials, combustible dust and other flammables. Experts agree that all workplace safety programs should incorporate housekeeping, and every worker should play a part. In addition, housekeeping should have management’s commitment so workers realize its importance. Here are 11 tips for effective workplace housekeeping.Read More »11 tips for effective workplace housekeeping

Be Safe for Halloween

Get your sidewalk neat before they trick-or-treat – Walk the path from the street to your door and clear anything that trick-or-treaters could trip over or slip and injure themselves. This includes gardening equipment, hoses, toys, potted plants, lawn ornaments and even Halloween decorations that block the path to your front door. Make your yard spooky, not dangerous – Be sure to… Read More »Be Safe for Halloween

Insurance for Multi-Family Real Estate

overcoming-the-challenges-of-placing-multi-family-real-estateThe real estate sector consists of many different types of premises-related accounts, including office buildings, shopping centers, malls, industrial warehouses, and apartments. Due to the frequency and severity of losses, habitational properties or apartment schedules are most commonly placed with E&S markets. This also applies to shopping centers and malls that are located in geographic areas where the crime scores are typically higher than the national average, or where the risk has a higher frequency of claims and is suitable for taking a retention and employing an aggressive third party administrator (TPA).

But the majority of real estate accounts placed in the E&S marketplace are multi-location apartment schedules. In recent years, many casualty markets have struggled with being profitable on these risks, and some have stopped underwriting this class entirely. What makes this class so difficult for carriers to be profitable, and why have so many markets either exited the space or tightened their guidelines?

Obviously, profitability is tied to thin rates and/or overly generous claims settling, but there are several other factors when it comes to this class:

1. Unique claims = general liability? Not always.

One factor is that there are so many more unique claims which ultimately get tagged to the general liability (GL) carrier. Just about anything that goes wrong – other than traditional property losses such as fire, wind, flood, etc. – is considered a GL claim. While it used to be that the owner or manager had to be negligent in order for a GL claim to be paid, that’s hardly the case anymore. Carriers have traditionally been the most concerned with “typical” GL claims including slip-and-falls, violent attacks, and sexual assaults; they now have to also deal with unique, obscure claims for which a GL carrier is ultimately held liable. This diminishes any chance of the account being profitable.Read More »Insurance for Multi-Family Real Estate

Potential Exposures for Construction Owners ​​​​​​​​​​​​​

Potential Exposures for Construction OwnersAs always with construction projects, it is important that owners of new developments understand insurance coverage to ensure that there is adequate insurance to address any potential risks during and after the construction of the project. While most owners maintain commercial general liability policies or rely on project-specific policies, these policies may not fully protect the owner against any and all risks that they may face during and after construction. This article addresses two unique areas in which owners should take special note to ensure that they are covered for these particular risks: third party action over claims and products-completed operations coverage.

 

Third Party Action Over Claims

Owner contracts with Roofer to assist in the construction of the roof of a commercial building. During construction, Roofer’s employee falls and injures himself on the project site and collects workers’ compensation benefits under Roofer’s workers’ compensation policy. Typically, Owner would not consider any risks with respect to this injury as Owner required Roofer, in the subcontract, to maintain workers’ compensation insurance. However, despite receiving workers’ compensation benefits, Roofer’s employee files an action against Owner alleging negligence for failing to properly maintain a safe work site.The action filed by Roofer’s employee is considered a third party action over claim. The employee is unable to sue Roofer because workers’ compensation is the employee’s exclusive remedy against his or her employer. Thus, the injured employee brings an action against Owner alleging that Owner’s negligence in failing to maintain the project site contributed to the employee’s injuries.
Read More »Potential Exposures for Construction Owners ​​​​​​​​​​​​​

Optometrist and Optician Equipment Price Guide for Insurance

Use this guide to help evaluate the new replacement cost value for office and optometry equipment. To get an insurance quote fill out really short form: https://www.paperless-insurance.com/business-insurance-for-optometrists/ Exam Rooms Examination chair and instrument stand $4,500 – $20,000 Chart projector $1,000 – $4,000 Slit lamps $3.000 – $10,000 Lensomeler/lens analyzer $ 1,000 – $4,000 Keratometer $2,000 – $7,000 Retinal camera $15,000 – $25,000 Phoropter, or optical retractor $5,000 –… Read More »Optometrist and Optician Equipment Price Guide for Insurance

Prepare for El Niño

With peaking El Niño conditions, weather experts are predicting heavier than normal amounts of precipitation for many areas of the Southwestern U.S. We are providing the information below to personal and business insurance customers in California, Arizona and the southern counties of Nevada. For Personal Insurance Customers: Proper maintenance is key. This includes keeping gutters free of debris, ensuring downspouts are… Read More »Prepare for El Niño

Spotting Risks as Part Manufacturing Process

Put your supply chain to the test.

[notice]
Supply_Chain_Pressure_Test Supply chains are becoming increasingly complex, with dependencies upstream, in-plant and downstream. Which links in your supply chain might be most at risk? And what can be done to help manage it? Take our four-part questionnaire to help you uncover and avert potential risks in your supply chain before they emerge. Estimated completion time: 5 minutes.[/notice]

Supply chains are increasingly complex with dependencies upstream, in plant and downstream. Have you put your supply chain to the test? Not only will this brief mobile enabled test assist you in identifying opportunities within your supply chain, but the last page of the test will also provide educational resources and insights on how you compare to your industry and region.

Controlling threats that can impact the flow of quality, compliant and competitively priced raw materials is a critical link in your supply chain. Upstream disruptions often flow downstream. One delay, shortage, or defect in the materials you rely on could affect your ability to produce goods in the quantities and time-frames consumers demand. One could even compromise the safety and quality of your products. Failure to meet orders, product recalls, liability claims, and other potential ripple effects of supply disruptions can put your company’s reputation — and bottom line — at risk.

Control Your Supply Sources

Purchasing and vendor control are critical parts of the manufacturing process. Knowing who your suppliers are and where they come from is key to managing supply chain risk – particularly if they come from outside of the United States. Companies often change vendors frequently to get the lowest prices on raw materials. But establishing longer-term relationships with your suppliers can be an advantage. A supplier who understands your business might better anticipate your needs and be more willing to work with you to control costs or resolve issues when they arise.

Choose your suppliers carefully:Read More »Spotting Risks as Part Manufacturing Process