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.
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. 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:
1/14/2021 COVID-19 Safety For Your BusinessEvery 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. Here are tips for your business to consider
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?
COVID-19 Planning
Items to Consider When Completing a Business Insurance Review
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. According to insurance experts, here are the top five business risks. The Allianz Risk Barometer surveyed more than 500 managers and corporate insurance experts in 47 countries, to identify the primary challenges facing businesses this year.1
While these are responses from large corporations, we take away many applications for medium and small businesses. Here are some of the risk issues for 2020.
All of us value the long term relationship with our clients, and are proud to give families, individuals and businesses the personal attention required when it matters most. When claims arise, we realize that it can be very stressful and will do everything possible to assure timely and complete recovery. Personal and Business insurance
The modern day customer is looking for value, ease of services, and quick responses. In an era of impersonal internet companies, slick advertising, and “branding,” it can be hard for consumers to determine where to find the best insurance program for their needs. To provide the best possible combination of coverage, services, and pricing, you need to look no further than your local independent agent. Our Approach to Insurance Is Different The best way to get the insurance that is right for you is to develop a relationship with your insurance agent. The good news is that this process is not complicated or time consuming.
Directors and Officers (D & O) Liability Update
Every business, no matter what the size, has a D & O exposure. Some people may mistakenly think that D & O risks are just for large firms, but actual court cases tell a different story. D & O claims come about because of decisions made by the firm’s officers and employees. Claims can come from employees, competitors, investors, and the government. Most of these kinds of claims are not covered under a standard commercial insurance policy. Here are some interesting facts brought to you by the Insurance Information Institute:
Misrepresentation If you misrepresent your company’s services, financials or other information, third parties may sue you for your actions. This can include services you say you provide on your webpage or financial information you provide to a lender. Breach of Duty Your firm’s officers and employees are required to carry out their duties with a standard of honesty and professionalism. If these legal duties are breached, you are subject to litigation by the injured party. Employment Issues Your employees can sue the business for a variety of employment issues that can be covered under a D & O or employment practices liability policy. 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 Small Business Administration, 25% of businesses do not re-open after a disaster. Most of these failed businesses did not have a disaster plan in place.Small business disaster preparedness planning is easier than you think.
Disasters Can Include:
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. We represent, and have established a strategic alliance, with only the highest quality insurance carriers. In doing so, we can provide you with the service and protection to meet your dynamic needs. As your needs change, we can review and collaborate to decide which insurance company or companies are best suited to your situation. Texas Business Insurance Renewal
Your business insurance is an important part of your risk management program. It is important to have the right insurance coverage, competitive pricing and the right insurer. We have found at least five factors that are important to manage when renewing your business insurance program. Business Insurance A business insurance program can include commercial property, auto, commercial liability, employment liability, workers’ compensation, professional liability and excess liability. Insurance Renewal Tips Provide complete information about your operation. Paint a picture that describes what you do and how well you do it. You have to sell the underwriter on what is different about your operation and how the insurance company needs to insure your risk, because you are above average. Use an independent agent. We are best equipped to provide you with the best combination of coverage, price and service. Combine your property, auto and liability with one insurer if possible. You will receive package discounts. Have a well-managed safety program. Putting a little effort into your business insurance renewal can reap rewards in the form of better coverage and lower premiums. 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. Builder's Risk Insurance generally covers the owner, the lending institution, the contractor(s) performing the work, and other related parties. In addition to providing coverage for damage to the building itself, most plans also cover temporary constructs (like scaffolding), materials, and equipment being used (whether it's currently on-site or off-site). The majority of policies are written on an all-perils basis, which means that reimbursements are available for any losses except those specifically excluded. Common exclusions from this coverage include (but are not limited to):
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. 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. 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. |
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