​A Business Insurance Update
If you think about it, your business faces risks every day.  When you open your doors, you have the risk of having sick or injured employees, customer complainants, and vendors who fail to deliver on their promises.  The world has changed in the past few years and it is important for business owners to make sure their business insurance keeps up.
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Recently a large insurer released their annual business risk index. This index identified the top concerns of over 1,000 business owners.  Nearly half of survey respondents believe that the business world is growing riskier, yet just 24 percent said that risk management was a strategic priority for them.
According to the survey, the top seven worries of today's business owners across all industries are:

• Medical cost inflation
• Increasing employee benefits costs
• Legal liability
• Broad economic uncertainties
• Tech and data/cyber risks
• Complying with laws
• Attracting and retaining talent

Source: Business News Daily
Let our agency help you understand how to manage and treat the risks.  We offer a wide range of highly rated insurers that can offer the necessary products to help you manage you risks.
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.

It is critical that every homeowner or business undertakes an annual insurance review. Regular reviews are equally essential to ensuring that your policy continues to be a good fit for your coverage needs and budget.
In a single year, a lot can happen that can have a significant impact on your insurance costs, coverage options, and limitations, among other things. Among these are the following:

• Marrying or divorcing
• Children graduating from high school/empty nest/child off to college
• Beginning a new job
• Recruitment of new employees
• Purchase new commercial equipment
• Establishing a new enterprise
• Accepting elderly parents into your home
• The acquisition or receipt of an ostentatious gift
• Your immediate family member has died
• Mortgage repayment

Is this to say that I must immediately contact my insurance agent whenever I purchase new furniture or a family member moves in for six months? Not always. While more significant changes (such as marriage, divorce, or the purchase of a new car) should be reported immediately, items such as upgrading your home entertainment system or upgrading your sound system can be reported during your annual insurance review.
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Strive Insurance Group, Inc. (formerly Gordon Lund Insurance Agency, Inc) is an independent insurance agency representing many insurance companies.  This means that we quote with many different insurance companies to obtain the best rate and coverage for your insurance.  We do this at no additional fee or service charge to you.  Our insurance agency's reputation for representing the best insurance companies, providing excellent customer service and competitive pricing to our clients has been earned and proven for over 30 years.  We take great pride in finding you the best coverage and backing it up with prompt personal service.  
Give us a call today; we are ready to review your coverage.
 

Businesses in the life sciences industry constantly develop new ways to deliver products that solve problems. Successful medical technology, pharmaceutical, and digital health enterprises write their prescription for success on the cutting edge of progress. Companies on the cutting edge of innovation, on the other hand, run the risk of anything going wrong.

There is no one-size-fits-all "life science insurance coverage" because each life science firm offers a variety of products or services. There's a chance you'll have special or unique insurance needs. A basic commercial insurance program can be expanded to meet some of the specific demands of your company. You will have limited coverage if you merely acquire basic general liability or errors and omissions insurance, but it will most likely not be the correct coverage. That is where Strive Insurance Group can help. We know and understand your industry and can deliver the specialized insurance products you need.  

Top Risks For The Life Sciences Industry

• Supply chain
• Adoption of advanced technologies
• Product liability
• Management liability
• Cyber risk
• New regulations

We understand the challenges in the Life Sciences industry. There are many moving parts, and things can change like the wind. That is why we have partnered with companies that offer industry-specific coverages to meet your unique needs. It doesn't matter where you are in the process right now. Whether it's R&D, clinical trials, or maybe you've already developed that game-changing medical device or drug; we want to help you with your 

Life Sciences Insurance. 
We can provide risk and insurance solutions to help you manage these and other important risks facing your business.
 

Why is it important for biotech and life science companies to have insurance? Businesses in the life sciences and biotechnology industries use costly equipment and materials, which exposes you to dangers such as:

• Regulations that are quite strict
• Interruptions in the supply chain
• Injuries to patients
• Product or sample loss, recall, or spoilage are all possibilities.

Working in the biotech business necessitates the use of costly machinery and delicate materials. Having life science insurance protects your property on the job, from the facility you rely on to the gear you employ. As a result, life sciences insurance should be a key component of your risk management strategy.
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A Business Owner's Policy can help biotech companies and other businesses in the life sciences industry (BOP). This policy combines three types of company insurance into one simple package:

• Insurance for general liability
• Property insurance for businesses
• Insurance for business revenue
• By combining these coverages, you can safeguard your life sciences company while also saving money.

Contractors insurance policies range significantly in terms of what they offer. Most will have a business owner's policy (BPO) that will provide:

• General liability insurance
• Workers' compensation insurance
• Commercial vehicle insurance
• Other insurance products you need

 
Why Do I Need Liability Insurance?
Good liability risk management can reduce the chances that your business will be sued, but it can never eliminate the risk entirely. You or a member of your organization can make a mistake that injures someone or damages property. Your mistake could harm the reputation or interfere with the privacy of a customer, client, competitor or member of the general public. When such injuries occur, you may be legally liable to pay damages to someone who suffers a loss due to your actions or inaction.
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Everyone in society has a duty to take reasonable care that his or her actions do not injure others. The same rule applies to business entities. Not repairing a pothole in a parking lot, not lighting a dark stairway, failing to train workers how to do their jobs safely and legally or failing to provide directions for the safe use of a product can constitute negligence if a client, customer or member of the general public is injured as a result. The legal meaning of negligence is failure to exercise reasonable care.

The law of the state where the lawsuit is filed sets the rules for the determination of liability and damages. The amount of damages imposed in any particular case is, of course, in part a function of the economic losses the plaintiff can prove he or she has endured due to the defendant’s negligence. In some states plaintiffs may also be awarded damages for.

What Kind Of Liability Policy Should I Get?
For small businesses the most efficient and least expensive way to purchase liability insurance is usually as part of the Business owners Policy (BOP) which combines property and liability insurance in one contract.

Your liability insurer will pay damages that you are legally obligated to pay as a result of “bodily injury,” “property damage” or “personal and advertising injury,” up to the policy limits and subject to your deductible. Punitive damages are generally not covered, although there may be some exceptions.
 
Bodily injury means injury, sickness, disease or death; it may include injuries that are emotional or mental, such as post-traumatic stress syndrome or humiliation.
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Personal and advertising injury includes libel, slander or any defamatory or disparaging material or a publication or utterance in violation of an individual's right of privacy; infringing the privacy or copyright rights of another in your advertisement; wrongful entry or eviction, or other invasion of the right of private occupancy; and false arrest or wrongful detention.

Who Is Insured?
BOP liability coverage insures a sole proprietor, partners or partners named in the policy "Declarations," but only with respect to their duties on behalf of the business. The spouses of sole proprietors or partners are also covered. If your organization has officers and directors, they are insured, as are your stockholders, but, once again, and this applies to all parties, only with respect to their duties or liabilities in connection with the business. Employees and volunteer workers are insured for acts committed within the scope of their employment in your business.

​As football season starts and fall is here, it is an excellent time to think about your insurance and any changes you might need to make. Having the right personal insurance is important in that it protects you and your family in the event of loss, damage or accidents. The number of insurance claims varies according to the season. The fall season offers new forms of hazards and new patterns in personal insurance claims, along with the falling leaves and reducing temperatures.

Here Are A Few Types Of Insurance You Might Think About
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Auto Insurance, we assist you in obtaining coverage according to on your needs, driving habits, geographic area, budget, and other factors. The following are some coverage protection choices to consider during the fall and winter months.

• Roadside assistance
• Towing coverage
• Accident forgiveness
• Snowmobile insurance

Home Insurance, as local independent insurance agency, we are always willing to walk you through the measures necessary to secure your home. Your agent can assist you in reviewing coverage alternatives during the fall and winter months.

• Earthquake or flood insurance
• Loss of use coverage
• Property away for your premises
• Sewer back-up

Fall Safety Tips
As the weather cools and the leaves begin to fall from the trees, it's vital to remember a few important fall safety tips. Your family may enjoy the crisp fall weather while avoiding some of the dangers that come with the season if adequate precautions and safety knowledge are taken.

• Service your furnace and AC units
• Clean your gutters
• Inspect four fireplace
• Clean up trees and shrubs around your home
• Inspect your rook for damage
• Use Caution with Space Heaters

Be sure to speak with an insurance agent or broker about your coverage and additional things you can do to check your home and property for seasonal liabilities.

​Recent surveys by human resource managers have identified a number of workplace issues facing employers and employees. These problems affect the work being done, employee morale, and overall company performance. Take a look at the top five workplace issues and see if your company faces any of these.

1. Lack of Training- Many workers state that most employers do not offer any “real” job training. Even many new employees are not trained on the firm’s communication systems or account management systems. Most employees get sent to a desk and that’s it.
2. The Right Tools- The average employee uses over 10 different tools to perform daily tasks. Make sure employees learn how to use new tools and know how the old and new tools work together. Then, make sure employees are actually using the tools to do important work.
3. Emergency...What Emergency? - Today more than ever employers need to develop, communicate and plan for emergencies. Emergencies can include a natural event, security issue, or public health concern. Take the time to develop a plan of action to get people out of the facility and to account for everyone.
4. Lack of Safety Procedures – Does your firm have written safety procedures for each job function? If not, you may be missing out on a more productive workforce. Studies show that employees, who have a clear understanding of the job including how to do it safely, perform better.
5. Discrimination in the Workplace – Believe it or not, discrimination is a big issue with many workers. Legal protection against discrimination on the grounds of disability, sex, and race is now well established in the workplace.  Age discrimination, however, remains a significant problem at work.   A recent Chartered Institute of Personnel and Development (CIPD) survey revealed that 59% of employees believe they had been disadvantaged because of their age. It is estimated that age discrimination costs the economy between 19 billion and 31 billion a year in lost output.

Take time and score how your firm may be doing in these areas.
Strive Insurance Group, Inc. is a full-service independent insurance agency that has been serving the insurance needs of the Dallas area since 1984 (formerly Gordon Lund Insurance). Don't worry, nothing has changed, but our name. 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.

There are several common mistakes some people make when it comes to purchasing commercial insurance. Insurance is the product you buy in case the unexpected happens. Unfortunately, by the time you need it, it's too late to make sure you have the right type and amount of insurance coverage. Make sure you don't make the following mistakes while buying insurance.

Mistake One
Having two agents is better because they keep each other competitive
Having two agents duplicates effort and can create coverage gaps. For example, there is certain coverage that can be included under a liability policy and auto policy. One agent is better able to manage your entire insurance program.

Mistake Two
The lower the premium, the better
Premiums are determined by a combination of exposures and coverage. If you get a lower premium, you may be missing the needed coverage. For example, does the lower premium include replacement cost coverage on buildings and equipment?

Mistake Three
Buying from a national company is always better.
Don't listen to the entertaining advertising on TV. Most national agents only represent one insurance company. They can't shop your account to determine the best combination of price and coverage.

Mistake Four
The internet is a great place to get good insurance deals
Low-cost internet insurance usually allows you to select the coverage and limits you want. But in most cases, you end up with a limited and inadequate program. You find this out after you have an uninsured claim.

Mistake Five
Umbrella insurance is only high net worth companies or individuals
A small electrical contractor was at fault for the total loss of a historic property, a loss that exceeded his general liability policy. The contractor's umbrella paid the loss in excess of $7,000,000. Umbrella or excess coverage is some of the least costly insurance you can buy. Don't risk a lost for a little expense.

Mistake Six
I don't need employment liability insurance, I only have five employees, and they are like family.
This is the fastest-growing area of litigation for small businesses. The average claim cost in 2020 was $75,000.

Mistake Seven
Not knowing your policy
Consumers' biggest mistake is not knowing what's in the fine print of their policies. Take time to read the policy. Ask your agent to meet with you at least annually to review your coverage. 

Mistake Eight
Flood insurance is only for business in high-risk areas
Big mistake; we recommend you ask for a flood quote to at least review the cost-benefit of the coverage.

Mistake Nine
I don't need disability insurance because I can get Social Security
Don't count on Social Security to take care of all your needs if you become disabled. The cost is not as much as you may think.
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Mistake Ten
There isn't anything I can do to manage my insurance costs except shop price.
There are many things you can do to reduce your premiums; here are a few:

• Consider increasing your deductibles
• Consider the vehicle model when making a purchase. Some are more expensive to insure
• Add smoke and security alarms to your office

 

Every business must have COVID-19 safety procedures in place in 2021. Helping your employees return to work safely and confidently during the coronavirus (COVID-19) pandemic is no easy task.

Employers must ensure social distancing for employees and customers, frequent and adequate employee hand-washing, and that sick employees stay home. Employers must also provide basic workplace hazard education about coronavirus and how to prevent transmission in languages best understood by employees. Your workers’ compensation insurer can offer tools and advice in this area.
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Here are tips for your business to consider

• Making sure your facility is fully clean, disinfected, and equipped with a blueprint for maintaining safe conditions.
• Setting up a support system in place for employees as they return to work and adjust to new realities and emotional challenges presented by the COVID-19 pandemic.
• Creating a plan for a safe work environment that protects employees and customers alike from risks connected to COVID-19, including exposure and transmission.
• Prepare business continuity plans for significant absenteeism, supply chain disruptions, or changes in the way you need to conduct business.
• Establish an emergency communications plan. Identify key contacts (with back-ups), the chain of communications (including suppliers and customers), and processes for tracking and communicating about business and employee status.
• Share your response plans with employees and clearly communicate expectations. It is important to let employees know plans and expectations if COVID-19 occurs in communities where you have a workplace.

Insurance coverage made easy. When it comes to buying your insurance, you have options.  You can go to a captive insurance agent, an agent that represents one company, or you can go to an independent insurance agent that represents many companies.  Strive Insurance Group, Inc. (formerly Gordon Lund Insurance Agency, Inc) is a full-service independent insurance agency representing many insurance companies.  This means that we shop many different insurance companies to obtain the best rate and coverage for your insurance.  We do this at no additional fee or service charge to you.  Simply put, our goal is to find you the best coverage and rate for your auto, home, business, or life insurance.  Whether you need a business insurance quote or an auto insurance quote, we can help.  To obtain an insurance quote, click on the tab and enter your information into the form.  If you have any questions along the way, please don't hesitate to contact one of our insurance agents.
 
Sources: Cleveland Clinic, CDC, & OSHA

​Part of your business planning for 2021 should include an annual business insurance review. Your business changes, and so do your exposures. After you review some of these items, call our office, and we will be happy to discuss these and more with you.
It’s never been more important to partner with a broker that specializes in your business, understanding your unique exposures, with risk services capabilities and strong carrier relationships.
 
Why Complete a Business Insurance Review?

• Your exposures may have changed.
• COVID-19 has created the need to evaluate everything you do.
• Laws and regulations may have created new liabilities.
• Your policy may have had small changes that require consideration and adjustment.
• You may have too much coverage or to little coverage.

 
COVID-19 Planning

• Do you have remote work policies and procedures?
• Make sure you have a cleaning protocol in place.
• Check your business interruption coverage; it may need to be adjusted and increased.
• Make sure your business follows OSHA guidelines.
• During an infectious disease outbreak, such as the current outbreak of COVID-19, small business owners must prepare for disruption in their business as well as prepare to protect their employees’ health and safety in the workplace.
• Do you have the right kind of insurance to cover business equipment off-premises?

 
Items to Consider When Completing a Business Insurance Review

• Review sales and revenue- Have your company’s annual sales increased or decreased? The more business you do, the greater the potential liability you face.
• Property Values- Have you added any new equipment, purchased or leased a new building?

• Did you purchase any new vehicles?
• Do you sell any of your products in foreign countries?
• Is your safety and loss control program up to date?
• When was the last time someone reviewed your SIC codes for accuracy?
• Are you serving any new industries? This might increase your liability.

 
Have you added any new partners? There might be a need for life insurance.
As a business owner, you can ensure that your company is protected by keeping your general liability insurance, workers’ compensation insurance, and commercial auto policies updated to reflect changes in your business.