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risk management

Electronic Audit of Insurance Premium

Business insurance premium is subject to audit: workers compensation audits payroll, product liability audits sales, payroll as well is under audit in the construction industry. And if you ever had business insurance and gone through the audit, I am sure you’d been wondering around confusing forms on multiple pages, that required you some calculations and even your accountant was raising the eyebrow. Well, lucky us, no longer that would be the case with policy written through Select Travelers Insurance as the national rollout of our new ePHR (Electronic Policyholder Report) audit process to all eligible Select Policyholder is taking place… Read More »Electronic Audit of Insurance Premium

What do you mean they are not?

California Supreme Court to decide if insurance adjusters should get overtime pay. The California Supreme Court will hear arguments Oct. 3 in a case that centers on whether California claims adjusters are entitled to overtime pay. A California appellate court in 2007 overturned a trial court decision and ruled in Francis Harris et al. vs. Superior Court of Los Angeles County and Liberty Mutual Insurance Co. that a class of adjusters who filed suit against Liberty Mutual and Golden Eagle Insurance Co. were not exempt from overtime compensation requirements under California law.

Tips for Driving Safely With Children

– Young Children When children have outgrown a convertible safety seat, they should use a booster seat until they are 10 years old. Even when young children are tall enough to use an adult seat belt, they should ride in the backseat until they are 13 years old. – Toddlers Keep toddlers in a rear-facing, convertible safety seat for as long as possible. When the child outgrows the safety seat, toddlers should sit in a forward-facing safety seat complete with a full harness. – Infants Always drive with infants in a rear-facing safety seat. Once a child exceeds the manufacturer’s… Read More »Tips for Driving Safely With Children

Are Riots Covered on my Business Insurance Policy?

As businesses in England begin to seek insurance coverage for revenue lost as a result of recent rioting, business owners and executives elsewhere might wonder how their business interruption coverage would respond to a sudden outbreak of a riot. Most admitted insurance companies do offer business interruption coverage built into their commercial property policies that would respond to riot-related losses. Beyond income lost as a result of direct property damage, commercial property insurance also covers income lost due to restricted access to the property. In some cases, the coverage will pay employee wages in the event of a business interruption.… Read More »Are Riots Covered on my Business Insurance Policy?

Prepare for Business Interruption

Attorneys and insurance experts offer these tips on preparing for business interruption and pursuing reimbursement from insurers: EVALUATE YOUR RISK PROFILE: Take stock of specific risks posed to your company, industry and area. Stay informed of developments that could lead to civil unrest. Perform the same evaluation for entities in your supply chain, primary customers and receivers. KNOW YOUR POLICY: Work with your broker or risk consultant to understand the limitations of your business interruption coverage, including duration and proximity exclusions. DOCUMENTATION: Insurers typically require claimants to provide evidence of damage or lost income, and proof of a government-ordered evacuation,… Read More »Prepare for Business Interruption

Five Back to School Carpooling Tips

It’s time to go back to school! Consider these valuable back-to-school carpooling tips as you pile the kids in the car and take them to school. Meet with your fellow carpoolers. Get to know your fellow carpoolers to gauge how responsible of a driver they are. Use that time to establish some ground rules in terms of pick-up and drop-off times so everyone is on the same page. Make sure all passengers are buckled-up. Before driving away, make sure all adults and children in the car have a fastened seatbelt. Never let kids share a seatbelt and never transport children in the… Read More »Five Back to School Carpooling Tips

Simple Ways to Protect Private Information

Use different passwords for your login accounts. Hackers know that it’s very common for people to use one password consistently. So, make sure your password varies. Also, avoid including words or information in your passwords that someone could easily derive. For example, don’t combine the name of the street you live on with your birthday. Recognize “phishing” attempts, avoid them and report them. “Phishing” is when you’re on the web and someone poses as something legitimate—friend, family member, government entity, bank or other trusted organization—in order to draw personal data from an unsuspecting person. Phishing can occur via text messages,… Read More »Simple Ways to Protect Private Information

Love your neighbor, Help your neighbor

State Farm and consumer research firm Harris Interactive surveyed more than 17,000 people about the state of American neighbors and found that 83% are willing to help a neighbor having financial problems. Every second person said that neighbors affect his or her happiness! Here is a brief summary of our staff advise on how to get closer with your neighbor and develop human mutual aid companionship: – Do your best to know at least a fair amount of your neighbors by name – If needed help a neighbor look for a job – If needed cook meals for neighbors –… Read More »Love your neighbor, Help your neighbor