| Welcome to Fall!
This is the first issue of the Johnsonese Brokerage Technology Business Insurance Newsletter. The goal of our quarterly newsletter is to provide useful information about insurance to independent technology businesses.
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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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Are You a Solopreneur? |
I've been hearing the term "solopreneur" more and more recently. Maybe that's because the 'Great Recession' is motivating more people to go out on their own to make a living. So I searched the web to find a good definition of the term. Here's what I cobbled together.
Solopreneur is a term used for independent professionals to distinguish them from entrepreneurs. Some people use the terms solopreneur and entrepreneur interchangeably, but there are some differences. An entrepreneur seeks to build a company, with its own brand that could, presumably, exist even if the entrepreneur left the company. By contrast, solopreneurs build personal brands, tied to themselves as individual professionals. In the most basic sense of the term, solopreneurs are not necessarily interested in growing their businesses into stand-alone companies, although some solopreneurs eventually do become entrepreneurs.
Solopreneurs create businesses without employees, usually using only their own funding as start-up capital, and often beginning on a part time basis while still holding a corporate job.
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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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California Store Pays $550,000 Fine for Discouraging Workers Comp Claims |
An investigation determined that managers at a California grocery store regularly suggested that employees turn to their own health insurance for work-related injuries rather than filing workers comp claims. Nearly all states require that employers provide worker comp insurance to cover work-related injuries and diseases.
The store agreed to pay $550,000 in fines and investigation costs, plus $30,000 to an education fund, plus potentially an additional $150,000 for any violations within the next five years.
It is important to know your responsibilities under workers comp laws in your state.
-Compensation Management News, July 20, 2010 |
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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:
- Computer Consultants
- Computer Equipment Distributors
- Computer Maintenance and Repair
- Database Developers
- Outsourced IT Service Providers
- Software Developers
- Software Programers
- Technology Sales & Marketing
- Technology Solopreneurs
- Technology Trade Shows
- Telecom Service Providers
- Value-Added Re-sellers
- Website Developers
We are licensed in the following states:
- California (license #0G69323)
- Florida
- Illinois
- Indiana
- Kentucky
- Maryland
- Michigan
- Minnesota
- New York
- Ohio
- Pennsylvania
- Texas
- Wisconsin
We are members of the following business organizations:
- 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. EPLI
Employment Practices Liability Insurance; coverage for employers' losses relating to wrongful termination, discrimination, sexual harassment and similar employee claims
2. HNOA
Hired/Non-Owned Auto; coverage for vehicles that are rented or borrowed, but not owned, by the business
3. SIR
Self-Insured Retention; similar to a deductible, it is the portion of a loss that is paid by the insured
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New Team Member
We are please to welcome a new team member this month. Kate Migon has joined the Johnsonese Brokerage as an agent.
Kate has experience in semiconductor sales, and she will focus on serving our technology clients.
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We Now Represent The Hartford!
 We have a new appointment with Hartford insurance. Hartford is an 'A' rated carrier that has been in business for over 200 years. Hartford is one of the leading insurers of high tech businesses.
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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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Hartford
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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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