| Greetings!
Swenson says, "Margin is the space that once existed between ourselves and our limits. It's something held in reserve for contingencies or unanticipated situations." The problem is that we have become overloaded as individuals and we have no margin. We have filled our lives with so many commitments and activities that we hardly have time for breathing, let alone anything else. When something unexpected happens, it knocks us flat because we have no margin. Am I the only one feeling this?
"Overload is not having time to finish the book you're reading on stress. Margin is having time to read it twice. Overload is fatigue. Margin is energy. Overload is red ink. Margin is black ink. Overload is hurry. Margin is calm. Overload is anxiety. Margin is security. Overload is the disease of our time. Margin is the cure."
We here at Mason & Mason can't take care of all the margin areas of your life, but there are ways we can help you simplify. We specialize in construction insurance - you already know that. Did you also know that we write personal insurance as well? Most of you are very familiar with Christine Zuendt. She has given years of dedicated service to your construction insurance needs... and now she's taken on a new role here by entering our personal insurance department. Why not ask Christine about your personal insurance too? We cover home, auto, motorcyles, boats, antique cars and more! You'll receive the same quality of care and expertise you always have, and save yourself the hassle of dealing with multiple agencies. Can you say "Hello, Margin"?
 You enjoy our construction insurance newsletter... how about signing up for our personal lines newsletter? You'll get great articles and timely information all focused on protecting your assets and the lifestyle you've worked so hard to build for yourself and for your family. The newsletters are a great way for you to stay in touch and get to know us better -- and offering your feedback helps us get to know YOU better! We would also LOVE for you to "like" our page on Facebook (that's where we host the "Whoops" file). Check it out and invite your friends!
There are always ways to simplify... to find margin (and peace!) Let us be one of them.
Tom Messier, Vice President
Mason & Mason Insurance Agency
M&M Assurance Group
P.S. If you enjoy this newsletter, check out our website at www.mmins.com. Click the "Clients" tab at the top of the page and then enter the site with username: "Client" and password: "INFO4U". You'll find more helpful articles on a wide range of topics. You can also check us out on Facebook! If you have any questions, give us a call at (800) 298-0802. We'll be happy to hear from you! |
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Before Hiring Contractors, See to Your Insurance!
A real estate firm on the third floor of an office building hired a janitorial service to clean during a weekend. The service completed its work by late Saturday afternoon. However, one of its employees left water running in the employee break room after rinsing off some rags, which he also left in the sink. The rags plugged the sink drain. Over the next 36 hours, the sink overflowed, the room flooded, and water seeped into the law office downstairs. The water ruined several desktop computers, left marks on leather chairs, streaked the walls, and soaked a six-month-old carpet. The law firm submitted a bill for several thousand dollars in damages to the real estate firm. Because the real estate firm is legally liable for the actions of contractors it hires, it was liable for the damage to the law firm's property.
This is the sort of accident for which companies buy Liability insurance. There are multiple ways to insure the exposure to loss from actions of contractors. Each company should investigate alternatives and choose those most appropriate for its situation.
Every business should carry its own General Liability insurance policy. The standard policy will cover damages caused by contractors. Although relying on its own insurance gives the business a certain amount of control (especially over timely payment of premiums,) there are disadvantages to using only this approach. Some policies might contain endorsements that reduce or eliminate this coverage, so business owners should review their policies carefully. Even if the policy does provide this coverage, a few large losses caused by contractors could use up the business's insurance limits. Also, the insurance company will count the contractors' losses when it calculates the business's experience modification, resulting in higher future premiums.
The business might want to include an indemnification agreement (also known as...
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Be Careful of that Window! Your Insurance Might Not Cover It!
Virtually all buildings have at least one thing in common: Glass, and usually a lot of it. When a building owner is having work done, the windows are very susceptible to damage. Glass is fragile. Unless they are careful, workers can easily break, scratch, or mar windows, even if they are not working on them directly. For example, a contractor spray painting outdoors can find that he has painted the windows if the wind is blowing the wrong way. In situations like this, the contractor's attempts to clean the paint off the windows sometimes make the problem worse. The cleaning chemicals he uses might damage the glass. Window cleaning services run an obvious risk of accidentally damaging windows, but carpenters, siding installers, masons, roofing contractors, and others can all conceivably face blame should the building owner find something wrong with the glass after the job is done.
When something like this happens, many contractors will look for their Liability insurance to pay for the cost of repairing or replacing the windows. However, they might find out that their policies do not cover accidents such as these. The standard Commercial General Liability policy does not apply to property damage to "(t)hat particular part of real property on which (the insured) or any contractors or subcontractors working directly or indirectly on (the insured's) behalf are performing operations, if the 'property damage' arises out of those operations." It also does not apply to damage to "that particular part" of property that must be restored, repaired, or replaced because the insured's work was performed incorrectly on it unless the insured has completed his work.
The meaning of the phrase "that particular part"...
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About Mason and Mason
For more than 20 years we've been committed to meeting the insurance and bonding needs of the construction industry. The success and leadership of our practice has led to strategic and proprietary relationships with insurance companies similarly committed to the industry. Our clients benefit from our insurer relationships in the form of products designed with their special needs in mind. Our access to many construction specialty insurers also assures our clients are afforded a range of options at various cost levels in order to match the level of protection for their particular needs. As important as these insurer relationships are, our true competitive edge is the people who serve our clients. We have team of construction insurance professionals who understand the complexities of the worker's compensation and general liability insurance regulatory environment as applied to the industry. We leverage this specialized knowledge and our broad risk management expertise to the benefit of our construction industry clients.
Mason and Mason Insurance M&M Assurance Group
458 South Avenue 3304 White Mountain Hwy
Whitman, Massachusetts 02382 North Conway, NH 03860
T (800) 759-1452 T (800) 298-0802
F (781) 447-2832 F (603) 356-9290 |
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If you've heard about payroll deducted workers comp and have questions, give us a call! We can fill you in on the advantages (and disadvantages) of this program and see if it's right for you. That's what we're here for! :) |
Create and Implement a Successful Safety Incentive Plan for Your company
Many companies are implementing safety incentive programs, hoping that by rewarding employees for good safety records, they will cultivate a safer work environment and reduce costly Workers Compensation claims. Some employers are concerned, however, that safety incentive programs can actually lead to a more dangerous work environment where injuries are under-reported in pursuit of rewards. To make sure a safety incentive program is a positive addition to your company's safety program, several factors should be considered.
1. Incentive Programs Are Just the Icing, Not the Cake - Most importantly, incentive programs should be just an added layer to your already strong and comprehensive safety program. Employees cannot improve their performance if they do not have the appropriate safety training needed to recognize and mitigate hazards. The bottom line is that safety incentive programs will not reduce injury rates and should not be implemented if you do not already have an effective safety program in place.
2. Support Safety from the Top Down - To demonstrate the importance of the program to employees, upper management should be committed and involved throughout the process. From the initial design and launch stages, to implementing the program, they must be visible on an ongoing basis. Management should communicate frequently to their employees about the program and take an active role in distributing the rewards.
3. Carefully Design and Administer Incentives - Poor design and administration are the most commonly cited reasons for incentive program failure. Because the concern of accident under-reporting is valid, some experts recommend substituting or adding a more process-based approach as opposed to a strictly results-based incentive program. A process-based system provides incentives for engaging in safety behaviors such as participating in safety training or earning a high mark on a safety quiz. Result-based approaches typically just provide rewards for accident-free time periods.
Once the overall approach is selected, the details of the program should be designed carefully with thoughtful consideration given to selecting the appropriate goals and rewards, establishing methods of evaluating and recording performance and determining how and when rewards will be given.
4. Give...
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