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Why Is There Employer's Liability Within A Workers' Compensation Policy?

 

Workers compensation systems exist to take workplace injuries out of the courtroom and resolve those claims in a more cost effective way without worrying about fault.  Many employers purchase their workers compensation policies simply as a matter of necessity.  But these policies cover more than just the statutory workers compensation scheme.

How Is Co-Insurance Is Connected To Loss Analysis?

Have you insured your property to its full value? It can be tempting to underestimate the value of your property when purchasing insurance to obtain lower premiums. Someone thinking about employing this strategy might only want coverage to a certain level and be willing to accept the negative consequences of a loss that exceeds the policy limits.

Why Does A BASIC Score Matter For Your Trucking Business?

The Federal Motor Carrier Safety Administration uses Compliance Safety and Accountability scores to assess the safety of trucking companies and target the most at-risk companies for additional interventions. CSA scores are composed of seven BASICs (Behavior Analysis and Safety Improvement Category) which attempt to use data available to the FMCSA to pinpoint trucking companies with inadequate safety procedures. While most BASIC information is available to the public, the FMCSA does not make the crash indicator BASIC available to the public. However, the information is available to the trucking company itself and enforcement personnel.

Meeting ERISA Bond Requirements And Protecting Your Business

Retirement plans are an excellent way for employers to attract and retain key employees by offering non-salary compensation. Most employers in the modern era offer some form of 401(k) or other retirement offering to their employees. These plans, though, come with many risks and regulations that employers need to pay attention to, or they could wind up costing themselves big money. 

Insurance Can Do That: Protecting Your Business Against DDoS Attacks On Cloud Servers

When people think of cyber losses and cyber insurance, they tend to think of privacy breaches. The exposure of personally identifying information and concomitant risk of identity theft, which is followed by notification costs and regulatory fines is a recognized threat. More and more, though, the interruption of day to day business is the highest cost of a breach. These losses can lead to lost sales, lost productivity, reputational damage, and missed deadlines leading to breach of contract.

How To Prepare For The 2019 Hurricane Season

The Atlantic hurricane season lasts from June to November, with the peak season from mid-August to late October. The Eastern Pacific hurricane season begins May 15th and ends November 30th. When hurricanes take form, they cause heavy rains that can lead to extensive flood damage in coastal and inland areas. They are capable of producing winds in excess of 155 miles per hour as they barrel through the coastal areas and cause catastrophic damage.  The best way to minimize damage from a hurricane is to be prepared before one strikes, are you prepared?

New Rules And Regulations: Joint Employer Relationships

On April 1, 2019, the Department of Labor proposed a new regulation, and it wasn’t an April Fool’s joke. The new regulation would seek to update the Department’s sixty year old test for determining joint employer relationships under the Fair Labor Standards Act. It is worth noting that this is different from the long running dispute over the joint employer test decided by the National Labor Relations Board as a part of its 2013 ­Browning-Ferris decision. This new rule would apply to allegations that employers had failed to pay their workers legally obligated wages under the Fair Labor Standards Act.  Joint employers would be jointly and severely liable for any ordered back pay.  

Cyber Security: Breaches Caused by Employee Errors

When businesses think of ways that poor cyber security can lose them money, they often think of hackers breaching their systems.  It’s easy to picture this as a pitched battle between the cyber criminals storming the castle walls, and the defenders seeking to repel them.  Unfortunately, some cyber incidents and privacy breaches occur not through the concerted efforts of the bad guys; instead they happen due to simple mistakes and negligence by a company’s own employees.

Duties Your Business May Owe To The Employees Of Customers And Vendors

What duties does your business owe to the employee of a customer or vendor? This may not be a question many companies have considered. They have contractual relationships with their customers and vendors that spell out the duties each owes to the other.  Furthermore, that contract may require that each party obtain workers compensation insurance specifically to recompense any employee injured on the job.

Avoiding Lawsuits: Research an Organization Before Doing Business With Them

No one wants to be sued, businesses especially. They particularly do not want to be sued by their customers or vendors. Many companies invest significant resources into policies and procedures designed specifically to avoid lawsuits. Unfortunately, some organizations choose to view lawsuits as the primary means of resolving disputes with others.