AVOID BUSINESS LOSSES WITH D&O INSURANCE

For the last several years, stories of wrongdoing and bad judgment by corporate managers have filled the headlines. Enron, Worldcom, and Countrywide are just some of the companies that became household names because of mistakes or criminal acts their leaders committed. These stories became big news because they were exceptional; the vast majority of companies do not fail in such a spectacular fashion. However, all corporate managers have the potential to make mistakes, and some mistakes can lead to significant losses for the company, its shareholders, employees and vendors. When this happens, having the appropriate insurance coverage can make all the difference between survival and corporate and personal bankruptcy. Most businesses carry Commercial General Liability insurance (CGL) that covers the business's legal liability for bodily injury, property damage, and personal and advertising injury suffered by others. However, this insurance probably will not cover...
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For the last two weeks, a quote has been rumbling through my head. Well, a fraction of a quote. The words "...every tree a flower" have been an echo in my mind. I didn't have it quite right, but I did have the general idea.
Albert Camus wrote the famous words: "Autumn is a second Spring where every leaf is a flower." A drive through the White Mountains of NH this time of year would certainly prove that to be true. Everywhere we turn, vivid hues of yellow, red and (my personal favorite) orange seem to be bursting across the backdrop of a clear blue sky. It's like a festival of color has been splashed across the Valley, painted with a brush that man could never master himself. Amazing.

A part of me is disappointed to know that within a few short weeks, all of that color will have dulled, taking on more subtle - and even drab - tones. The leaves will become dry and brittle, and eventually drift from the branches to the cold ground below. Instead of the "swooshing" sound they make as the wind gently rattles them now, they will instead take on a more raspy tone. They will scuttle against the pavement and rustle in the grass. My thoughts will turn from admiration of the beauty to preparing for winter (not nearly as much fun).
Seasons change. Sometimes we like the new view, other times not so much... but if there's one thing in this life we can count on (aside from death and taxes), it's that change is inevitable. Nothing in life is static. Just as our climate and scenery change, so do the circumstances of our lives.
So what's new with you? Is your business experiencing a season of growth, or have things been quiet? Have you hired new employees? Had to let some go? Made improvements to your building? Bought that new truck you've been eyeing?
All of these changes are things that can affect your insurance program. Our customer service professionals do a great job of trying to stay up to date with the needs of your business, but we also recognize that sometimes things come up and adjustments need to be made. Communication is key in any relationship, and it works both ways. If you think of something that's changed for your business, please give us a call and let us know! We want to ensure you get the personalized attention you deserve, and that your insurance program is tailored to the specific season that you're in right now.
That way, you can sit back and enjoy the view. And here in the Mount Washington Valley, what a view it is!
David Mason, President
Mason & Mason Insurance Agency M&M Assurance Group P.S. We'd love for you to LIKE us on FACEBOOK! And don't forget to check out our website! We're at www.mmins.com. Just click the "Clients" tab at the top of the page and enter the site with username: "Client" and password: "INFO4U". Happy browsing! If you have any questions, give us a call at (800) 298-0802. We'd love to hear from you! |
PROTECT YOUR BUSINESS BY STEERING CLEAR OF INTELLECTUAL PROPERTY DISPUTE COSTS
 As the United States continues to transform from a manufacturing-based economy to one based on information and ideas, protecting those ideas has become increasingly important to businesses. The U.S. Patent Office reported that it received more than 440,000 applications and more than 188,000 trademark registrations in 2006. Both numbers were substantial increases from the previous year. That same year, U.S. district courts saw more than 30 intellectual property lawsuits filed every day. The cost of those lawsuits is steep: The American Intellectual Property Law Association reported in 2009 that the average costs of litigation were $2 million for patents, $700,000 for trademarks, and $600,000 for copyrights. With the frequency and cost of these lawsuits rising, avoiding and minimizing intellectual property lawsuits has become a major issue for American business.
As a business owner, how can you steer clear of IP lawsuits? Here are a variety of strategies: - Research your marketplace. Know what your competitors have done and what they have in the works. Pay close attention to competitors' press releases, website updates, SEC filings, and advertisements. Be aware of industry practices and literature. Continuously monitor competitors' activities for potential threats to your own protected intellectual property.
- To protect the business, have employees who contribute to IP sign contracts giving the company ownership of the IP. Restrict employees' and contractors' ability to externally share confidential information. Develop procedures for identifying and documenting any concepts that might eventually require legal protection.
- If you have suffered an infringement of your IP rights, investigate alternatives to litigation. For example, you might offer the offending party a licensing agreement or proposing a joint venture. Another possibility is to pursue mediation. Mediation is less costly, potentially offers a faster resolution to the dispute, reduces the impact on management's time and resources, and allows for finding creative business-driven solutions.
Despite a business owner's best efforts, however, some IP litigation might be inevitable. A...
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EMERGENCY PREPAREDNESS PLANS ARE CRUCIAL WHEN DISASTER STRIKES

The September 11, 2001 terrorist attacks were a wake-up call to the kinds of dangers that still face America, including American businesses. In the months and years following the attacks, companies nationwide took steps to ratchet up security and emergency preparedness, in the event that they might someday be impacted directly by an attack or other major disaster.
For instance, an often-cited survey conducted by the Hartford Financial Services Group found that security measures instituted or improved on by companies resulted in a drastic drop in the number of unauthorized visitors entering workplaces. However, the same survey concluded that, as time passed...
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Thank you for taking the time to read this month's newsletter! Remember, your feedback helps shape future issues. We value your input, so please...let us know what you think! Have a great month!
Sincerely,
David Mason
President
Mason and Mason Insurance
M&M Assurance Group |
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Mason & Mason Insurance M&M Assurance Group
458 South Avenue 3304 White Mountain Hwy
Whitman, MA 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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