 A Professional Liability Update
Architects and engineers have unique exposures. If they don’t perform to a set of standards they are at risk of being sued and have the possibility of loss of reputation. This is where Architects and Engineers (A&E) errors and omission insurance can help. A&E Insurance covers liability for alleged or actual damages that result from the performance of professional services. All design professionals including residential and commercial architects, design/build architects, engineers, landscape designers, and specialty construction consultants, should consider professional liability insurance. Here are a few actual claims An architect firm was hired to design an HVAC system in a school. The design was discovered to have a flaw that caused exhaust to be brought back into the building. The resulting damages and legal fees totaled over $1,500,000. An A&E firm designed a 55-unit apartment complex. Three months after completion there was water damage to 25 units totaling $90,000. It was determined the A&E firm’s window frame design was incorrect and the firm was held responsible for all damages. The A&E firm incurred over $110,000 of expenses in replacing windows and related damage. There are things A&E firms can do to minimize risks including:
As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote.
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 The EEOC just released the latest numbers relating to employment claims, and they remind us of the need for employment practices liability insurance.
• Retaliation was the most frequently filed charge with the EEOC in 2018, followed by race and disability. • Sexual harassment charges with the EEOC increased by 13.6%, based on preliminary 2018 results. • Monetary awards recovered for victims of sexual harassment increased by 47.4%. • The #MeToo movement and resulting publicity have caused visits to the EEOC sexual harassment website page to more than double over last year. We can offer a very comprehensive and affordable Employment Practices Liability Insurance (EPLI) products available in the industry today. Coverage can include protection against allegations of discrimination, harassment, wrongful termination, and retaliation. Coverage can be further enhanced to include Wage and Hour and Third Party Wrongful Acts. Get a quick quote and share with your client today. As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote.  According to the United States Bureau of Statistics, over 953 truck drivers were killed on the job in 2018. That is a rate of about 22 per 100,000 workers. 7% of fatal trucking accidents are caused by driver fatigue. Risk management and safety are important factors to consider when reviewing the overall success for any trucking company. Operations with a strong safety program receive the best insurance premiums. Because drivers are the most essential factor in contributing to accidents we have provided you with three suggested actions to help reduce the likelihood of claims. Hire the right person- Make sure they have the skills to do the job. Did you put them in the vehicle to see if they could drive it safely? Do they know how to safely load the vehicle? Complete background checks. Make sure they speak and read English well enough to converse with the general public, understand highway traffic and signals, respond to official questions, and be able to make legible entries on reports and records. Manage fatigue- The critical item here is to educate and make drivers aware of fatigue. Some of the warning signs are drowsiness, yawing, head nodding, lane deviations, and more. Make fatigue awareness part of safety training or pre-shift meetings. Prevention tips for fatigue; stop and walk around, change your routine, open a window, talk to passengers or stop and take a break. Understanding the road conditions- Wind, heavy rains and heavy traffic conditions pose extra safety threats for truck drivers. Poor weather including rain, snow, or hail, increases the time required for trucks to stop on slick roads, can impede visibility and can cause the truck to sway erratically due to wind gusts. Truck drivers should know how to drive in rainy conditions when to stop driving due to danger, emergency procedures, and how to limit the impact of poor conditions on their driving. As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote.  Every Texas business has risks, and commercial insurance can respond to many accidents, injuries and claims. But commercial insurance does not cover every risk you may have. The good news is that we have real solutions for your business risks. A short call to us may just help you get a good night’s sleep knowing your business is better protected.
Business Risks Cyber Risk- Cyber Liability continues to be a major issue for many businesses. Is Cyber Liability part of your Business Insurance Program? In today’s data-driven social media world, businesses of all sizes have had a cyber-attack or data breach. Statistics show that 40% of all cyber incidents affect businesses with fewer than 100 employees. With the recent Target breach, many individuals and businesses are considering cyber or identity theft insurance. Employee Injuries- If one of your employees gets injured on the job, the medical bills and time loss could be significant. Workers’ Compensation Insurance can provide real solutions for your company. Ownership Changes or Death of Key Staff- If your business does not have key man life insurance, you may have serious problems if an owner of other key person dies. Environmental Liability- Your business insurance does not cover any claims for pollution or environmental related accidents. We are prepared to help you manage all your business risks. As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote.  A Business Insurance and Risk Update
Employers are responsible for providing a safe work environment for their employees. Here is an unbelievable fact from the Occupational Safety and Health Administration (OSHA). Before OSHA was created 43 years ago, an estimated 14,000 workers were killed on the job every year. Today, workplaces are much safer and healthier. Common workplace health and safety hazards include communicable disease, transportation accidents, workplace violence, slipping and falling, toxic events (particularly chemical and gas exposure), being struck by objects, electrocution or explosion, repetitive motion and ergonomic injuries, and hearing loss, according to an article in Inc. Magazine, by Josh Spiro. Here are a few things you can do to continue to protect your employees. Remember, a safe workplace increases productivity, employee morale, and more importantly, keeps employees safe.
 Restaurant Facts
According to the National Restaurant Association, in 2018, restaurants employed over 14 million people and achieved over $600 billion dollars in sales. Restaurants accounted for about 45% of the total dollars spent on food, and 45% of adults said restaurants are part of their daily life. This is good news for the restaurant industry because it means that there are a lot of people dining in restaurants. Unfortunately, this also means that there is an increase in the possibility of claims against restaurants. Restaurant Insurance If you own a restaurant, it will be important to have the proper restaurant insurance to keep your restaurant open should the unthinkable happen. If your restaurant, bakery, catering service, or tavern is going to have staying power, you have to build a plan for managing potential pitfalls, and that includes insurance. Here are few of the kinds of insurance coverage your hospitality business needs to consider:
As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote.  Business Insurance and Risk
Every business faces risks of various kinds. If you have employees you have the risk of employee injury. You most likely buy workers’ compensation to protect yourself from this risk. No owner or manager wants to believe that their business is exposed to great risks; however, many situations may expose your company to lawsuits, liability and substantial expenses. An unfortunate number of these situations go unnoticed by many business owners until it is too late. Comprehensive risk management is important to the overall success of your business. Unaddressed risks may result in uninsured losses that could potentially cost your business thousands of dollars. Some Important Business Risks to Consider The risk of being sued by employees - There are many state and federal laws that protect worker’s rights. These include harassment, discrimination, retaliation, and civil rights. We can provide you with a quote for employment practices liability insurance that will address many of your employment risks. The risk of lost income - If you have a loss or damage to your building you may not be able to resume operations for a period of time. Your business is at risk for lost revenues. Business income insurance can offer protection. Cyber liability risk - If your business accepts electronic payments, handles sensitive customer information or stores key information on the internet, you are at risk. Cyber liability insurance protects against these risks, and is an important coverage option to explore for many businesses. We Offer a Fresh Perspective to Your Business Risks As part of our service we can review and examine your business operations and help you identify the important business risks. Then we will design a risk and insurance program tailored to meet your needs. The goal of risk management is to protect your business from being vulnerable. Many business risk management and insurance programs focus on keeping the company viable and reducing financial risks. As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote  Cyber risk is a topic that keeps evolving. At this point, we believe that every business needs to have cyber liability insurance. The methods that the cyber criminal’s use is always changing and we are constantly researching the latest prevention trends.
Cyber Risks Are Growing Russian hackers recently stole over 2 billion online names and passwords. Home Depot had millions of customer credit cards stolen. A local restaurant recently had 1200 customer credit card numbers stolen, and finally a medical clinic had a lap top stolen that contained 5,000 patient’s names and confidential information. Every company is at risk for cyber theft and loss. Cyber Insurance We can provide your firm with the right combination of pricing and coverage. Cyber risk insurance is available at very reasonable premiums. Many of our companies offer coverage to help protect your business from loss. Cyber Risk Prevention for Small Business Here are some of the latest prevention trends from computer *experts:
If you have a standard business policy you may not have the right kind of coverage. Let us work with you to provide the right coverage. Cyber liability coverage (for data breaches) has evolved from just insurance for information technology companies to coverage that nearly every kind of business should have - if they don't already. As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote.  Everyone has seen insurance advertisements that feature a lizard, a man who creates trouble, and a wacky woman in white trying to sell you insurance. These ads may be entertaining, but how in the world can you really tell these companies apart? What are the differences? Is one company really better than any other? Will the coverage, price, and service meet my needs?
There are two distinct kinds of agents in the United States; Independent agents/brokers, and direct writers. Let’s define these for you. Independent Agents An independent agency is a business that is owned and operated by local business professionals. Some larger agencies may have a board of directors and many partners, but usually the ownership is local and independent. These agents offer many different insurance products through many different insurance companies. Independent agents sell the products that most appropriately meet the needs of their clients. Independent agents typically are very well trained and knowledgeable of the complexities of the insurance market and insurance law. Most independent agents have multiple companies from which to shop your insurance needs. This makes it more likely that they will find the exact fit for your specific situation. It also allows for greater competition, which benefits their clients. The goal of the independent agent is to provide their clients with the best possible combination of coverage, price, and service. For example, independent agents have experience in understanding what services insurance companies provide and are able to match unique services with client needs. Not all insurance companies are alike. Direct Writers A direct writer is an agent who distributes policies for only one insurance company. Direct writers are agents paid by the insurance company and cannot utilize the entire insurance market. If your roof needed replacement would you go to just one roofer for a quote? Would you hire a roofer because their ads are funny? Wouldn’t it make good financial sense to go to more than one roofer to get options and pricing comparisons? The True Value of Your Agent The value of the insurance you buy truly is established when, and if, you have a claim. Independent agents advise and help clients through the claim process. Our job is to find you the best possible combination of coverage, price, and insurance. Independent agents/brokers work for the customer, direct writers work for the company. Enough said! As an Independent Insurance Agency we represent many insurance companies to fit your businesses dynamic needs. Whether you're a new business or a small business, we can help. Being an Independent Agent means we are not only your agent, but we are your insurance broker as well. We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote.  Business Insurance Trends For 2019
As we move into 2019, we wanted to provide you with our “business insurance resolution checklist”. We suggest that you go over this list to verify that you have the best possible coverage for your business. Building a solid company in today's competitive and fast-moving world takes time, commitment, and foresight. Having solid business insurance can protect your assets, employees, and future. We can design a commercial insurance program specifically for your business. There are some kinds of coverage that your business may not have considered. We offer you our checklist. Give us a call today. Key Man Life - Covers the death of key owners, and revenue producers. In the event of the key person’s death, the death benefit payout goes to the company and not the key employee’s spouse or children. Key man life insurance policies act to inject liquid funds into the business to protect against a variety of financial losses. A company will have to scout out, hire, train and retain a new replacement employee. This is costly and the death benefit covers the expense of these burdens. Professional Liability- Covers claims that come from giving advice. Today, almost any business can find itself facing a liability lawsuit. Many businesses do not even realize they have an exposure to professional loss. A Management Liability lawsuit can put business and personal assets at risk, including the company’s assets, and even the personal possessions of the owners. One simple mistake could cause financial devastation, as well as end your professional career. Workers' Compensation Insurance – This coverage is usually required by law for small businesses with employees. This insurance provides benefits for employees who are injured or die from job-related causes. Employment Practices Liability- Provides your business with coverage for harassment, wrongful termination and other claims brought by employees. Business Income- This coverage can provide extra funds should your business suffer a covered loss. It can include coverage for extra expenses to set up a temporary location as well. Cyber Liability- If your business handles customer data, such as credit card or bank account numbers; data breaches pose a serious threat to your financial stability. Cyber Liability Insurance protects against the expenses associated with a data breach, which can run into the hundreds of thousands of dollars. Unbelievably many small businesses do not have the right commercial insurance. Having the right business insurance does not have to cost you any more money. The key is having an agent who understands your risks and is willing to help you design a business insurance plan that meets your needs. Strive Insurance Group, Inc. is a full-service independent insurance agency that has been serving the insurance needs of the Dallas area since 1984. In addition to having a presence in the Dallas and North Texas area, we have also expanded to Austin and Central Texas with agent representation and the same professional service. |
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Strive Insurance Group, Inc. | 701 N. Central Expressway Bldg 1|Richardson | Texas | 75080 | 866.538.8174