Streetsmart insurance Blog
Traditionally, insurance has relied on information asymmetry: The insurance carrier has had the advantage of access to reams of actuarial data which it uses to price policies, while the customer has had the advantage of more intimate knowledge of his or her own particular situation.
In Part I of Subcontractors & Insurance Audits, we discussed the various ways that subcontractors can have a negative impact on your workers compensation insurance audit. Today, we will explain how uninsured/underinsured subcontractors can have a negative impact on your general liability insurance audit and provide you with advice that can help you mitigate the risk that they pose to your business.
Basement Protection from Water Damage
If you have a sump pump installed, be sure that it is clean and clear of debris so it will function properly. In many cases, sump pumps fail as the result of an obstruction or inactivity during the dry summer months.
Being a first-time car owner is sure to be exciting. You can get lost in the excitement and buy all sorts of accessories that you’ve always wanted to have. However, you need to think practically and make sure that you buy the essentials before anything else. You might be surprised, but you will agree that it’s what you need for your car when you first buy it. Take a look at our list of car essentials.
When employees are injured on the job, some are tempted to take advantage of workers' compensation benefits. By implementing a program that offers good incentive to return, employers can reduce the risk of paying more benefits than necessary. Recent research shows that employers lose about 80 million work days because of injuries or illnesses that happen on the job. The number of employees who take off more than seven work days because of injuries or illnesses stretches into the millions. This means that employers are left to deal with the high cost of workers' compensation premiums, lost productivity and disability benefits. However, by creating a special incentive program, employers can greatly reduce these costs.
At the end of July, data thieves successfully penetrated computer systems at Equifax, one of the three major credit bureaus, and potentially stole personal credit information on as many as 143 million U.S. customers.
The Equal Employment Opportunity Commission has sued an employer for refusing to hire a job applicant because he used a service dog.
The employer of a worker who causes damage during their off hours on a business trip may be held liable for them acting "in the scope of their employment," according to a federal court decision.
By now, you've likely noticed that your commercial automotive insurance rates have been increasing since last year, and for now there seems to be no slowing the momentum.
OSHA will make inspections of a workplace for a variety of reasons, including following a worker injury and always after a worker's death.