| Summer!
This is the third issue of the Johnsonese Brokerage Small Business Insurance Newsletter. The goal of our quarterly newsletter is to provide useful information about insurance to independent creative businesses.
Summer can be a good time to review your insurance. Take advantage of the dog days to save some money. And have the coverages in place that you need in time for busy days to come.
Have a great Independence Day weekend!
 Stonehenge on the Summer Solstice
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Chicago Non-profit Files Lawsuit over Unnoticed Employee Theft | |
Chicago's Resource Center, which focuses on environmental education, has accused a former employee of embezzling hundreds of thousands of dollars over a period of at least six years - and it's suing the accountant it says failed to notice. In its lawsuit, the Resource Center says the employee forged checks to herself and then hid the theft by altering statements from 2003 to 2009. The center's general manager eventually noticed the discrepancies. The Resource Center also says that its accountant didn't use accepted auditing practices that would have shed light on the embezzlement of some $600,000 by the employee.
The American Society of Employers estimates that 20% of every dollar earned by a U.S. company is lost to employee theft. Do you have policies and procedures in place to prevent employee theft? Are you insured for employee theft if your internal controls fail?
-Crain's Chicago Business, April 19, 2010
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Our Continuing Series: Unpredictable Business Lawsuits |
A Wal-Mart customer claims she was injured when four shoeboxes fell from a shelf and hit her. The Texas resident, who was pregnant at the time, filed a lawsuit in March against Wal-Mart claiming the store should have properly secured the shoeboxes so they would not fall. By not securing the shoeboxes, the store allowed a dangerous condition and created an unreasonable risk of harm to invitees, the lawsuit states.
The plaintiff claims she suffered a severe injury to her head, neck and shoulders. She is seeking damages for medical expenses, loss of earnings and earning capacity, physical impairment, physical pain, mental anguish, interest, and costs of suit.
-Southeast Texas Record, May 13, 2010
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Time for a Check-Up for your Trees |
Best Review reported in May that falling trees cause property damage of $3 to $5 billion annually in the US. Think of smashed cars and buildings. But the good news is that three-fourths of trees that fall during storms show signs of pre-existing damage before the fall that's often correctable. If you have mature trees near your business, it's time to give them a check-up.
Here are some signs of poor tree health:
Root Damage - Damage to roots is most easily detected above ground. Signs include branches that start dying at the tip or trunks that lean enough to need bracing.
Co-dominant Stem - A tree with two main trunks is structurally unstable and at a high risk of falling.
Excessive Lean - Many trees lean, but those with evidence of root lifting, soil mounding, cavities, cankers or decay are cause for concern.
Wounds - Trees attempt to close and compartmentalize wounds, but cavities, cankers or decay on more than 40% of the circumference can affect stability.
Longitudinal Cracks - Longitudinal cracks, especially ones that start at a branch union, can be dangerous.
Recent Excavation within the Drip-Line - Excavation or construction within the drip-line damages feeder and anchoring roots, which weakens a tree, increases its susceptibility to disease and insects, and makes it less stable and resistant to wind.
If you see any of the these conditions, have a certified arborist evaluate your tree to determine if it can be saved or if it should be removed before it crashes into your home or business.
-Best Review, by Scott Spencer, May 2010
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"History doesn't repeat itself, but it does rhyme." -Mark Twain | |
 Believe it or not, when I recently read this Mark Twain quote it made me think of insurance. Twain basically captured the essence of the purpose of insurance. We cannot predict the future, but based on past experience we can prepare for the probability of fires, storms and crimes happening in the future.
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2010 the Year of Local Cocooning? |
I read in the Association of Midwest Museum's winter newsletter that futurist Faith Popcorn has declared 2010 the year of "Local Cocooning". Local Cocooning, or Lo-Co, is a trend where people rediscover their communities and focus on local food, their neighborhoods, and supporting community resources in a search for "cultural touchstones we can trust".
This should be good news for our small business clients! |
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At the Johnsonese Brokerage it is always our goal to reduce your insurance costs! To get started immediately call 773.252.8750 or Email info@johnsonese.com.
Christopher Johnson
Johnsonese Brokerage LLC
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About the Johnsonese Brokerage | The Johnsonese Brokerage LLC is a licensed and bonded independent insurance agency focused on insuring creative businesses.
Who we insure:
- Advertising Agencies
- Architects & Interior Designers
- Boutiques
- Event Planners
- Fashion Designers
- Florists
- Furniture & Design Dealers
- Graphics Designers
- Hair & Nail Salons
- Musical Instrument Dealers
- Pop-up Stores/ Gorilla Retail
- Publishers
- Restaurants
- Specialty Retail
- Special Events
- Spas
- Tailors
- Travel Agencies
- Wedding Planners
We are licensed in the following states:
- California (license #0G69323)
- Florida
- Illinois
- Indiana
- Maryland
- Michigan
- Minnesota
- New York
- Ohio
- Pennsylvania
- Texas
- Wisconsin
We are members of the following business organizations:
- Chicago Area Gay & Lesbian Chamber of Commerce
- Independent Insurance Agents & Brokers of America
- Local First Chicago
- River North Business Association
- Wicker Park Bucktown Chamber of Commerce
is always welcome! |
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Common Insurance Terms
1. Actual Cash Value
An amount equivalent to the replacement cost of lost or damaged property at the time of the loss, less depreciation.
2. Replacement Cost
The cost of replacing property using new materials.
3. Inland Marine
Insurance
Simply, insurance for things that can normally be moved from place to place (jewelry and contractor's tools fall into this category)
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Active 2010 Hurricane Season Forecast
The National Weather Service Climate Prediction Center has forecasted an "active to extremely active" hurricane season this year, with the anticipation of 8 major storms along the Atlantic basin.
If your business is in hurricane territory, make certain that you have a disaster plan in place.
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| Our Business Partners
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AmWins
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AXA
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Chubb
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CNA
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Insurance Noodle
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Markel
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Paychex
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Philadelphia
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Risk Placement Services | |
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