News

Private Sector Cyber Attacks – You’re On Your Own Baby!

Posted by on Feb 4, 2016 in News | 0 comments

Private Sector Cyber Attacks – You’re On Your Own Baby!

Companies should not rely on the government to protect them from cyber attacks, states a former chairman of the House Intelligence Committee.

U.S. businesses are being targeted 24/7 by North Korea, China and Russia to disrupt operations and in many cases to steal intellectual property. The real issue is that U.S. privacy laws prevent government security agencies from protecting commercial enterprises from these types of attacks.

Businesses can protect themselves from the myriad of new technologies becoming available, but an overlooked tool in focusing attention on cyber security safety is insuring against it. (more…)

Should You Restructure Your Business for Tax Reasons?

Posted by on Jan 21, 2016 in News | 0 comments

Should You Restructure Your Business for Tax Reasons?

Ninety-five percent of all businesses in the United States are considered “small” or “micro” entities. With only a handful of employees, it often means that they are sole proprietorships. This also means that come tax time, they will have to deal with various rules and regulations for how their business income is taxed. It also leads to agonizing countless hours over reorganization to take advantage of tax laws and loopholes.

If you have been up late a night worrying about restructuring your business for tax reasons, take a look at this short guide to help you make a decision.

The three most common business classifications for small businesses are: (more…)

Insurance Coverage for Public Companies

Posted by on Jan 15, 2016 in News | 0 comments

Insurance Coverage for Public Companies

Through our partner company Travelers, Harned Insurance offers Travelers Executive Choice+SM – a suite of products specifically for public companies.  These products have been built and shaped to address the current management liability exposures faced by today’s public companies.

You can find a complete overview here 

Below you will find a brief breakdown of Travelers Executive Choice+SM for public companies: (more…)

Day to Day Issues that Affect Your Small Business

Posted by on Jan 8, 2016 in News | 0 comments

Day to Day Issues that Affect Your Small Business

You don’t have to be a lawyer to open and run a small business. Find out how to handle day-to-day legal issues that could affect your small business.

A variety of laws exist that govern how business is conducted in general, and in specific industries. Get acquainted with the laws that pertain to your small business. (more…)

The Story of Business Risk Insurance in 2015

Posted by on Dec 31, 2015 in News | 0 comments

The Story of Business Risk Insurance in 2015

The Chalkboard provides a recurring infographic that appears in each issue of National Underwriter Property & Casualty. They focus on the insurance industry’s most pressing market lines and trends, stats and facts (illustrations by Shaw Neilsen). Here’s a look at two of these commercial insurance risks:

2015 was a year focused around cyber security and the increasing frequency of data breach events.

For this infographic, they included 117 data breach insurance claims, from carriers that include ACE, AIG, Chubb, Lockton, Liberty International Underwriters, OneBeacon, Philadelphia, Travelers, XL Group and Zurich NA. Here is a summary of the company’s findings:

cyber claims infographic

Workers’ Compensation was also gained a lot of news coverage in 2015. Did you know that medical services now contribute to more than 60% of Workers’ Comp claims?  In part due to two cost drivers: physician dispensing and compounded drugs.

Here is a summary of findings from Marsh, the California Workers’ Compensation Institute and insurer WC Accident Fund Holdings:

war on drugs

Risk Assessment Fundamental to a Business Continuity Plan

Posted by on Dec 10, 2015 in News | 0 comments

Risk Assessment Fundamental to a Business Continuity Plan

When it comes to a realistic, reliable business continuity plan, risk assessment is fundamental. To remain better positioned to recover from a disaster, companies that proactively consider which events are most likely to occur are able to focus disaster response planning efforts where they will yield the best return on investment.

When it comes to threats your company faces, as well as their potential impact on business operations always base response and recovery strategies on a good understanding these threats and potential impacts.

The following list via our partner Travelers.com contains some common threats that may leave critical business resources and operations vulnerable. (more…)

Winter Weather Safety Programs for Your Business

Posted by on Dec 4, 2015 in News | 0 comments

Winter Weather Safety Programs for Your Business

As winter weather approaches, our partner company, Accident Fund Insurance is once again rolling out their S.A.F.E. Slip and Fall Elimination campaign to help your business prepare for changing weather conditions.

Winter Weather Safety Program

Every company should have a written program that outlines the procedures for monitoring changes to winter weather conditions, as well as the process of communicating severe weather advisories and alerts to employees. The program should include: (more…)

Fleet Vehicle Accidents Cost Twice as much as Workplace Injury

Posted by on Nov 20, 2015 in News | 0 comments

Fleet Vehicle Accidents Cost Twice as much as Workplace Injury

The most costly injury claims for businesses are fleet vehicle accidents with the average cost of loss is approximately $70,000 – almost twice the cost of an average workplace injury which is approximately $36,000.

You may be putting the welfare of your employees and company at risk without a formal fleet safety program. Yes, a generic safety program is better than none – however – it is far more effective to have a specifically designed program in place for your company and your fleet.

There are policies and procedures established to ensure a safe work environment for employees within a fleet safety program. It also helps protect against liability from fleet vehicle accidents. (more…)

Reduce Cost of Construction Risk and Improve Your Bottom Line

Posted by on Nov 12, 2015 in News | 0 comments

Reduce Cost of Construction Risk and Improve Your Bottom Line

Harned Insurance believes that providing the right insurance protection starts with an in-depth understanding of every one of its customers’ businesses. We provide highly skilled underwriting, customized IndustryEdge®products, and tailored programs and services to help reduce contractors’ cost of construction risk and improve their bottom lines.

Our solutions are tailored per account size, contractor type, risk exposure, geographic area and line of business. We take pride in providing responsive and creative solutions to a wide range of contractors – smaller, as well as mid-sized and large accounts.

Here are ten reasons contractors choose to do business with Harned Insurance through our partner Travelers Insurance: (more…)

Have you set up your annual business insurance review?

Posted by on Nov 6, 2015 in News | 0 comments

Have you set up your annual business insurance review?

An exciting time in business is always the start of a new year. We set revenue goals, establish budgets, target potential customers as well as internal goals and aspirations. With all of this planning, it’s easy to get sidetracked and forget to review and determine if our commercial business insurance needs are changing or will change with the New Year. Most business owners just plug in the same expense of last year without thinking about new risk exposures that will come about with changes and growth to their businesses.

The beginning of the first quarter is always a good time to do risk planning and assessment whether you carry a Business Owner’s Policy, or separate policies covering your Liability and Property and Casualty insurance needs.  For a formal business insurance review, we suggest sitting down with your insurance agent early in 2016 or even at the end of 2015. (more…)