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One of the biggest mistakes owners of growing businesses make is not keeping up their insurance coverage to account for the expanding assets and potential liabilities. Let’s say you started your business 10 years ago with just a small space and computer desk. Today, you have an office full of employees and equipment. If you
What’s the most important number in your business life? Your hit ratio—the percentage of quotes that turn into orders. It’s the number that separates high-profit printers from also-rans. Why? Because it recognizes that a revenue-maximizing pricing policy isn’t created by your internally focused estimating system, “your cost,” but by your customers and the competitors that
Question: Can we tell nonexempt employees not to check email and messages when they’re supposed to be off the clock? They’ve been doing this a lot, and we don’t want to continue paying them for this additional, unscheduled time. Answer: You can tell nonexempt employees that they shouldn’t read or respond to messages when they’re
It’s almost time for group health insurance open enrollment and one of your priorities should be to drive participation by helping your employees make informed decisions about their options. You’ll want to help your staff understand their options so they can choose plans that are best for their age, health, and life situation. For example,
Americans are working longer hours and facing more demands for productivity, leading to stress and burnout, which in turn can affect workplace safety, according to risk management experts. Understaffing plays a part in this, they found. When workers are stressed or required to work quickly, they are more prone to making mistakes that can injure
Theft and vandalism against business has been growing rapidly, with 28% of businesses reporting an increase from 2021 to 2022, according to a new report. Only 3% of businesses surveyed in “The State of Physical Security Entering 2023” report by Pro-Vigil reported a decrease in such crimes, while 59% said it had stayed the same. For
Microsoft Corp. has issued a warning that cybercriminals are exploiting its Teams video-conferencing platform to launch phishing attacks that can debilitate companies that are victims of these actions. Hackers often abuse the Microsoft Teams platform to launch cyber-attacks and the latest threat the company is tracking is called Storm-0324, which it has deemed a serious
Every employer, no matter how small, faces the chance of being sued by a past, present, or prospective employee at some time. In fact, such employment practice claims are widespread – so much so that most businesses are much more likely to have an employment practices liability claim than a general liability or property loss
For 2024, the IRS has significantly reduced the group plan affordability threshold — which is used to determine if an employer’s lowest-premium health plan meets the Affordable Care Act rules. The threshold for next year has been set at 8.39% of an employee’s household income, down significantly from 9.12% this year. The lower threshold will
Workers’ compensation claims fraud costs the insurance industry roughly $25 billion each year, according to estimates by the National Association of Insurance Commissioners. Depending on whom you ask, fraud accounts for as much as 10% of the costs of all workers’ comp claims. This type of fraud is typically associated with malingering employees who fake
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