Posts Tagged "houston commercial insurance"

Risk Management Solutions for the Technology Industry [Video]

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

Mike Thoma, Chief Underwriting Officer for Travelers Technology, shares insights on insuring large technology companies. For more than 30 years, our partner, Travelers has served the technology industry, offering broad risk management solutions for a range of telecommunications, information technology, medical technology, and electronics manufacturing companies.

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Risks Technology Companies Face Today

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

When it comes to technology innovation, the only thing holding technology companies back should be imagination, not insurance. At Harned Insurance we understand the range of risks technology companies face today, and we’re ready for what tomorrow may bring. Having an insurance carrier that shares this pioneering spirit can be a significant business advantage. Our partner, Travelers has been a leading insurer of technology businesses for more than 30 years. They understand the unexpected risks these companies face and have the insurance solutions that can help them get ahead of those risks. And when they do – by anticipating and preparing for them – they can keep innovating and growing. The rapid pace of change requires the ability to innovate without worry. Innovative solutions that set us apart To protect innovation, you first need to understand it. Travelers doesn’t just insure technology companies. They have immersed themselves in the technology industry so they can understand and anticipate the changing nature of our client’s risks, while also creating insurance products and services that keep up with the quickly changing needs. What sets Travelers apart Long-time association with the technology industry Ability to underwrite complex businesses Expertise with technology businesses of all types and sizes Dedicated technology team Constant research to anticipate future needs and emerging risks Sharing our knowledge and advice Risk control services that are among the best in the industry To learn more, contact us...

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Employees Seek Broad Menu of Benefits

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

You’ve probably heard the popular adage that “there’s no such thing as a free lunch,” underscoring the idea that it is impossible to get something for nothing. Yet most Americans wouldn’t want a free lunch anyway, recent research shows. Only one in five (18 percent) American workers prefer free lunches as one of their top three employee benefits of choice, according to the 2015 MassMutual Generations@Work Study. Instead, 47 percent of workers age 18 and older prefer more vacation time, 44 percent opt for better 401(k) matches, and 40 percent like free health care coverage, according to the study. What benefits workers prefer largely depends upon their gender and generation, the study finds, complicating benefit decisions for employers. “Given the varied preferences for employee benefits, the takeaway for employers is to offer as broad a menu of benefits as possible. They should also consider offering new or expanded benefits on a voluntary or employee-paid basis,” says Elaine Sarsynski, executive vice president of MassMutual Retirement Services and Worksite Insurance. Half of all baby boomers surveyed and 48 percent of millennials say their benefit of choice is more vacation days, according to the study. Nearly half of Gen Xers (47 percent) prefer better 401(k) matches, the survey found, with more vacation days coming in a close second (44 percent). After more time off, boomers express preferences for financial benefits. Forty-three percent of boomers want better 401(k) matches, 38 percent appreciate free health care coverage, and 24 percent want more investment choices for their retirement savings, according to the study. Four in 10 (43 percent) prefer expanded health care benefits. Breaking with boomers, millennials like flexible work schedules (43 percent) and reimbursements for education and tuition (30 percent). But many Xers join their boomer colleagues in wanting better 401(k) matches, most likely a reflection that few Xers have access to pensions and that many boomers have not saved enough for retirement, according to Sarsynski. Men’s benefits of choice are more vacation time (50 percent), better 401(k) matches (43 percent) and flexible work schedules (39 percent), MassMutual’s study finds. Women’s preferences are spread between more vacation (44 percent), better 401(k) matches and flexible work schedules (40 percent), expanded health care choices (37 percent) and free gym memberships (31 percent). Workers should make the most of the benefits their employer currently provides and suggest other benefits that companies might make available on a voluntary basis, Sarsynski said. She recommends workers take inventory of their benefits and prioritize their importance based on personal financial needs: * Make sure you have health care coverage unless you are already protected by a spouse’s medical plan. * Protection benefits such as life insurance and disability insurance rank next in importance, especially if you are married, have children or other people depend upon your ability to earn a living. * Defer as much of your income as you can afford for retirement as early as possible. The sooner you start saving, the longer the power of compound earnings will have to work and boost your savings power. Make sure you contribute enough to your employer’s 401(k) or other retirement plan to qualify for any matching contributions. * Use your vacation time as it’s important to get a meaningful break from your job. The research was conducted on MassMutual’s behalf by KRC Research as part of an employee benefits education initiative. The study focused on 1,517 working Americans who were at least age 18 in a wide variety of jobs and...

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

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

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. 85% of U.S. networks are private-sector networks – the world is changing and we’re not sure we’re ready for it when it comes to cyber attack security. Because it’s against the law of the United States, The National Security Agency is not permitted to be on your networks – so the only way they catch an attack coming in is if they catch it overseas first. What does that mean to the private sector? You’re on your own baby! Every day businesses are facing the challenge of defending their networks from domestic and international cyber attacks and the challenges aren’t getting smaller – they’re getting bigger and bigger and in most cases they are already one jump ahead when it comes to getting around security measures. Technology companies are frantically forming and producing security solutions that will offer protection but if you’re depending on the government to help you, don’t think that way! The minds of executives need to be concentrated on cyber security and buying cyber insurance is the best way to get them involved in their own fight. The thought process then becomes, I’m paying for this, I need to pay attention and be held accountable! Contact us today to get your business cyber...

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Should You Restructure Your Business for Tax Reasons?

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

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: Limited Liability Corporation: This structure has gained popularity in recent years. It lets business owners limit their exposure to liability (including debt liability); income from LLCs goes directly to business owners and is taxed at the personal income level. S-Corporation:This structure is slightly different from the LLC. While it limits an owner’s liability, it allows owners to pay themselves a salary and collect any additional profits the business earns. These profits are taxed at the personal income tax rate. To qualify for S-Corp status, businesses must adhere to certain organizational guidelines that are much easier for smaller firms to meet. C-Corporation:This is the standard structure for larger companies, though some smaller firms find benefits in this structure as well. One of the main attractions is that dividends are taxed at the corporate level, which is currently lower than the comparable personal income level. So, should you consider restructuring your small business for tax purposes? It depends. Each business has different factors to consider when establishing a business structure just as each business has different liability insurance needs. Please be advised that there could be costly long-term ramifications while switching form one structure to another even if it comes with short-term tax benefits. Specification taxation structures used for each class of business are, unfortunately far from being straightforward. For example, revenue from a C-Corps might be taxed twice, negating any benefit from having it taxed at the business rate. And, if you plan to sell your company or pass on to your children, one might more sense for estate planning purposes. Here’s the bottom line, don’t make any restructuring decisions without talking to your lawyer and/or...

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