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It is good news that small businesses are thriving, with many of them enjoying growing sales over the last two years. The bad news is that their insurance protection has not kept pace, according to a recent report. That means an accidental loss could undo all the progress they’ve made, or even threaten their survival.
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
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
Every organization has risks; and while they vary for each business and industry, risks are unavoidable. Therefore, every organization, whether it realizes it or not, practices risk management. Those who do it well reduce their costs, particularly for insurance premiums and any deductible outlays they may incur. Here’s how to create a plan: Step 1:
A controversial bill that would require every employer in California to have in place a workplace violence prevention plan has been passed by the State Senate and is now in play in the Assembly. The bill — SB 553 — would require any company with at least one worker to “establish, implement and maintain” a
Imagine it’s a typical July day. You own a 30,000-square-foot office building that is 85% occupied. And the air conditioning and ventilation systems stop working. The outside temperature is in the 90s and the humidity is high. It doesn’t take long before the tenants start to complain. The contractor you summon determines that an electrical
One perennial topic in workplace safety is how to get injured workers back on the job as quickly as possible, and when it is safe to do so. The key, experts say, is to help the injured employee better engage in the workers’ comp system, so they have a better understanding of the claims process
California Insurance Commissioner Ricardo Lara has issued an order that cuts the average advisory workers’ compensation benchmark rate across all classes by 2.6%, starting Sept. 1. After holding a public hearing in June, Lara rejected the Workers’ Compensation Insurance Rating Bureau’s recommendation that the benchmark rate increase 0.3%. The difference between the WCIRB-proposed rate and
With some businesses allowing workers to play music while they work, sometimes that music can disturb other staff, particularly if the songs have vulgar lyrics. Now the U.S. Ninth Circuit Court has held that playing music with tawdry lyrics that make some employees uncomfortable can be considered harassment in the workplace under Title VII of
One of the biggest risks to printing plants and smaller printing facilities is fire, which can spread rapidly in these environments thanks to the large volumes of paper and flammable liquids on-site. Facilities that are most at risk are those that have high ceilings, large footprints and hold large quantities of paper inventory that is
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