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Check out our Blog - "Risky Business"!
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How to Best Handle Claims
Whether claims involve liability, property, workers compensation or other types of insurance, policies outline the obligations of the policyholder in the event they must file a claim. Regardless of the type of claim, policyholders are required to make contact with their insurers immediately.
Property Claims. Policies have specific wording regarding the obligations of a policyholder in the event a claim must be made. The Business Owners Policy, which is also called a BOP, requires policyholders to take the following steps:
- Report legal violations to the police immediately.
- Make immediate contact with a personal insurance agent.
- Resume the maximum volume of regular business operations as soon as possible.
- Make temporary repairs and take any other necessary steps to protect property from further damage. It's also important to save the damaged parts if they must be replaced. In some cases, the claims adjuster will want to examine them.
Business Income Claims. In order to establish an amount of insurance benefits for a policy that provides business income coverage, BOP holders need to keep specific business records. The following are required records...
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At our office this week, it's become apparent that Christmas has ARRIVED. Various versions of decorated trees adorn file cabinets and desks... glass balls dangle from all kinds of places (see our "Rosemary Tree" below, for example), and holiday music can be found in nearly every corner of the office (except the grinches').
Each of our employees has their own work space, and this year they have taken to decking them out in style. Each space, at its foundation, looks relatively the same. Similar office furniture, lighting and shelving are found at each one, yet with the arrival of Christmas, each cube (as we affectionately refer to them) displays its own unique flavor.
For example, Pat's desk is adorned with a Tweety Tree (she loves Tweety!) Brenda's cube is filled with pine boughs and beautiful ornaments (she's our crafty lady), and Heather's decorations include a nativity scene and a Patriots Nutcracker (if you know her, you'll realize that's NOT an odd combination for her.) Each of the other desks has its own charm and personal touch as well.
In a way, it makes me think of the way each of our clients has their own individual identity as well. While there is a basic insurance program that we tend to build from, we know that each of our insureds is unique. That's why we don't take a "one size fits all" approach to risk management, but rather we tailor each package to the needs of the business it represents. You can trust that the program designed for you at M&M is one crafted with your individual concerns in mind, which means it's as special as you are. You deserve nothing less.
Is your decorating done? Shoot us an email and share, or better yet, leave a photo of your decorations on our facebook page. :) We'd love to hear about what your decorations say about you!
Dave Mason, CIC
Mason & Mason Insurance
M&M Assurance Group
P.S. Looking to connect? Check out our new blog! You can also find us on facebook... and don't forget about our website at www.mmins.com. Let us know what you think!
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The Importance of Employment Practices Liability Insurance
Since Title VII of the Civil Rights Act of 1964 passed, the issue of employees' rights continues to be controversial. Employers involved in interstate commerce are prohibited from discriminating against applicants.
Understanding How Fast Lawsuit Risks Are Increasing. As more laws are enacted for workplaces, employers face a higher risk of lawsuits. The likelihood of discrimination lawsuits is especially high. In order to minimize this risk, employers need to create a workplace that offers workers equal rights, opportunities, job access, working conditions, job security and opportunities for advancement. They must also strive to create a workplace that is in compliance with federal employment guidelines for mature and disabled workers. During the period between 1992 and 2004, the number of individual discrimination charges jumped from 72,302 to 79,432 annually. These figures, which were collected by the Equal Employment Opportunity Commission, include all types of discrimination filings.
The 2010 Wal-Mart Example. Claims of workplace discrimination hit a record high in 2010. The total number of claims was 99,922 during the fiscal year. This number gained national attention after the story of a class-action discrimination lawsuit was filed against Wal-Mart. The U.S. Supreme Court threw out the case. This case stated that more than 1.5 million female workers faced workplace discrimination in the aspects of pay and promotions. The Court ruled that the case couldn't continue because of...
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Making Connections and Growing Your Business with LinkedIn
If you are not taking full advantage of LinkedIn to make connections and market your business, you are truly missing out on a great opportunity. For those of you who are not familiar with LinkedIn, it is the social media equivalent of Facebook for the business world and is a great tool for professional networking.
To get started on LinkedIn, you will need to create a profile. Your profile should be as complete as possible, as this can also double up as your online resume. Using the email address you provide, LinkedIn helps you find connections right away by matching your email contacts with LinkedIn's member database. The best way to get started with networking on LinkedIn is to start building up your connections by adding people you know first. LinkedIn also has a number of other tools and options to allow you to search for connections. Making connections with those you know is important on LinkedIn because many people often turn to LinkedIn to make contacts as they search for services, business deals, employees and a number of other needs. You are also branding yourself as a professional with your profile in a convenient place where people are searching to make business connections.
Once you have completed your profile, you can also...
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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, CIC
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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