Colorado State University’s Department of Atmospheric Science forecasts five hurricanes and 12 named storms for the 2018 Atlantic hurricane season. Natural disasters like hurricanes can wreak havoc on your company. Update your business insurance as you prepare for natural disasters.
Prepare for Wind and Hail Storms
Heavy storms that feature high winds or hail can damage your property or disrupt operations. Verify that your business insurance includes adequate commercial property and business interruption coverage.
You may also wish to check if your policy includes a separate property deductible that applies solely to wind or hail claims. Some insurance companies add a flat rate or percentage deductible to these policies, especially in areas that are susceptible to wind and hail storms.
Cover Flooding
Rising water can damage your buildings and property and affect business operations. While your mortgage lender or building manager may require you to purchase commercial flood insurance if your business operates in a flood zone, flood insurance is also important if you operate in a location that doesn’t traditionally flood. That’s because you still could experience high water due to heavy rains, storm surges, melting snow, or broken levees.
Talk to your insurance agent about purchasing flood insurance coverage through the National Flood Insurance Program (NFIP). Because this valuable coverage includes a 30-day waiting period, be sure to purchase flood insurance before you need it.
Purchase Adequate Coverage
If you purchased your business insurance longer than a year ago, schedule a checkup. Your company’s needs may change over time, and you want to update your business insurance coverage, too. For example, if you added expensive equipment to your operation or moved to a different location, verify that your current policy covers these changes.
Check the property value coverage on your policy also. When you purchased your business insurance policy, you may have chosen the cheaper actual cash value option that pays to replace covered property minus depreciation and wear and tear. However, replacement cost pays current market value rates and offers better protection, so consider this more expensive option now.
Finally, review your policy limits. Ensure you have enough coverage for your property, building contents, inventory, and business interruption needs.
Review your Policy Carefully
Insurance policies often include dry, boring language, but take time to review every word. You must know exactly what natural disasters your commercial policy covers. Also, be sure you understand details about the deductible and how to file a claim. Your insurance agent can answer any questions you have and help you purchase enough coverage for your specific needs.
Your business insurance gives your company valuable protection. Update your coverage today as you prepare for future natural disasters.
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With some farmers struggling to find reliable farm labor, it is important to invest some thought in the hiring process. Here are some tips for finding the right help:
Examine your needs. You might have a general idea in your head of what work needs to be done, but it’s best to be specific. Narrow down broad processes into specific jobs so you can determine how much help you truly need.
Think about desired traits. Do you need someone to fill a temporary need, or are you hoping that person can go on to fill a managerial role? You’ll have to determine whether people skills are more important than manual labor or machinery skills, and list those traits in your job description.
Consider hiring for a trial period. If you’re hesitant about a candidate but need immediate help, consider hiring them for a short-term trial period. This saves you from high employee turnover while buying you time to recognize your needs. It allows both you and the worker to communicate any frustrations and expectations after the trial period before considering whether the working relationship is worth investing in long term.
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On Thursday, Aug. 29, 2018, the Centers for Disease Control and Prevention (CDC) and the U.S. Department of Agriculture’s Food Safety and Inspection Service announced that salmonella-tainted chicken caused at least 17 illnesses and one death.
Investigation Details
Reported illnesses ranged from Sept. 25, 2017, to June 4, 2018, but the agencies didn’t begin their investigation until June. The investigation was launched after the New York State Department of Health said several of those who have become ill reported eating kosher chicken. When they were asked what specific kosher chicken brand they ate, they reported it was Empire Kosher brand.
At this time, the CDC isn’t advising against eating Empire Kosher brand chicken. There also haven’t been any recalls issued. Instead, they issued a public health alert on Aug. 24 out of an “abundance of caution.”
What You Can Do
Salmonella is a bacteria that causes intestinal illness. If you experience the following symptoms, seek medical attention for possible salmonella infection:
- Diarrhea, fever and abdominal cramps
- Symptoms beginning 12 to 72 hours after suspected ingestion
- Symptoms lasting four to seven days
The CDC recommends doing the following to reduce your risk of contracting salmonella:
- Do not eat raw or undercooked eggs, poultry or meat.
- Avoid cross-contamination of foods. Keep uncooked meats separate from produce, cooked foods and ready-to-eat foods.
- Wash hands, cutting boards, counters, knives and other utensils thoroughly after handling uncooked foods.
- Always wash hands before handling food and between handling different food items.
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An extensive survey of more than 4,000 low-wage workers in Los Angeles, Chicago, and New York City by the National Employment Law Project (NELP) reached these conclusions:
- More than one in four workers surveyed (26%) were paid less than minimum wage.
- Among these workers, 16% were underpaid by more than one dollar per hour.
- More than three in four (76%) workers who worked overtime were not paid for their time. The average worker had put in 11 hours that were either underpaid or not paid at all.
- Women and foreign-born workers were victimized more than anyone else.
- The average wage theft was 15% of earnings.
Additional violation categories included:
- Off-the-clock
- Meal breaks
- Pay stubs
- Illegal deductions
- Tips
- Illegal employer retaliation
- Workers Compensation violations
It is hard to balance this economic suffering with the fact some executives are making tens of millions of dollars during a failing economy. You don’t have to be of any political persuasion to realize that something’s out of whack. Not only do these employers deprive good people of a fair day’s pay, they’re also at war with companies who strive to grow their business the right way; perhaps even going above the call and actually empowering their workers rather than oppressing them. If we can fight overseas to assure basic human rights, we should be able to do the same here.
For more information on the survey, click here.
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The Department of Labor (DOL) recently released updated model forms to help employers administer employee leaves under the Family and Medical Leave Act (FMLA). The DOL’s model FMLA forms contain an expiration date in the upper right corner. The expiration date relates to a regulatory approval process; it does not relate to the forms’ actual content. Every three years, the DOL must submit its model FMLA forms to the federal Office of Management and Budget (OMB) for approval for continued use.
The DOL’s model FMLA forms expired earlier this year, on May 31, 2018. The DOL extended the forms’ expiration date on a month-to-month basis while it waited for the OMB approval’s to release updated forms. After receiving the OMB’s approval, the DOL released the updated model forms, which contain a new expiration date—Aug. 31, 2021.
Employers that use the model FMLA forms should start using the DOL’s updated models as soon as possible. Although no substantive changes were made to the updated FMLA forms, they contain a new expiration date. The updated model FMLA forms are available on the DOL’s FMLA webpage.
Model FMLA Forms
The FMLA gives an eligible employee the right to take unpaid, job-protected leave in certain situations, including the birth, adoption or foster care placement of a child, his or her own or a family member’s serious health condition, and a family member’s military service.
To administer FMLA leaves, employers must provide certain notices to employees, such as a notice designating whether a requested leave will qualify as FMLA leave. Employers may also require that employees provide certifications to substantiate their eligibility for certain types of FMLA leave.
The DOL has provided model notices and certifications to help employers administer FMLA leaves. The DOL’s model FMLA forms are optional; employers may decide to customize the DOL’s model forms or create their own FMLA forms. The model FMLA forms are available on the DOL’s FMLA webpage.
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The DOL’s model FMLA forms include: |
- A notice of FMLA eligibility and rights and responsibilities (Form WH-381);
- An FMLA designation notice (Form WH-382);
- A health care provider’s certification form for an employee’s serious health condition (WH-380-E);
- A health care provider’s certification form for a family member’s serious health condition (WH-380-F);
- A certification of qualifying exigency for military family leave (WH-384);
- A certification for serious injury or illness of a covered service member (WH-385); and
- A certification for serious injury or illness of a veteran for military caregiver leave (WH-385-V).
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Updated Model Forms Released
The DOL recently released new model FMLA forms that have an expiration date of Aug. 31, 2021. This expiration date is not associated with the FMLA’s requirements or the content of the model forms. Rather, it is associated with a regulatory approval process that requires the DOL to submit its model FMLA forms to the OMB for approval for continued use every three years.
The prior model FMLA forms had an expiration date of May 31, 2018, in the upper right corner. In April 2018, the DOL requested that the OMB reauthorize the model FMLA forms for another three-year period, until 2021, without proposing any substantive changes to the forms. The DOL released its updated model FMLA forms after the OMB approved this request.
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If you’ve ever shopped around for insurance, you’ve likely been asked if you want to bundle your policies—in other words, combine your home or renters, auto and life insurance policies with the same carrier. Although you have the option to shop around individually for each policy, it almost always makes sense to have the same carrier cover as many of your policies as possible.
Benefits of Bundling
- The discount—Most policyholders bundle their policies because of the promise of a discount. The amount varies by provider but can generally range between 5-25 percent.
- The option of a single deductible—With bundled policies, your deductible may be cheaper in the event of a claim that affects multiple policies. For example, if your home and auto policies are with two separate carriers, and a hailstorm damages your home and your car, you’re responsible for paying both your home and auto deductibles before receiving payment. But if you bundle your policies, your provider may offer you the option to pay only the higher of the two deductibles.
- Less chance of being dropped—If you’ve made claims or gotten tickets, having your policies bundled with one provider can decrease the chance of them dropping you.
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When it Doesn’t Pay to Bundle
It isn’t always better to bundle your policies with one insurance carrier. Here’s when it may be better to split them up:
- If you have tickets or past claims that make your auto insurance expensive—In this case, it may be cheaper overall to buy each policy from separate providers.
- When premiums increase—Bundling discourages people from price shopping, which makes it easier for providers to increase their rates. Most assume that you won’t go through the effort of shopping around when your policies renew.
- If policies aren’t technically bundled—Some carriers may insure you with an affiliated company. Although you may get a discount with that company, you’ll lose the convenience of paying your premium with one familiar provider.
A Few Tips to Consider
Although discounts are the main reason people bundle their insurance policies, never assume that bundling is the cheapest option. Your needs and circumstances will dictate whether you should combine your policies with one carrier. Consider the following tips:
- Shop for new coverage when your policies renew, and ask for the price of the individual premiums as well as the price of the bundled premium so you can decide whether it is worth it. Just make sure you compare the same coverage when shopping for quotes from each carrier.
- Ask if the provider uses a third-party insurance company. Remember that you may save money but lose the convenience of dealing with one provider and a combined bill.
- Ask an independent insurance agent to get prices from multiple companies so you don’t have to do the legwork. An agent that is loyal to a particular carrier may be able to offer discounts that you can’t get alone.
With multiple factors contributing to the price of your insurance premiums, it is important to shop around in order to get the best rate for your insurance needs. Feel free to contact Scurich Insurance to determine if bundling is right for you and help you take advantage of all available discounts.
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