Posts Tagged "houston insurance broker"

Demystifying Management Liability

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

Management liability threats can be mysterious for business leaders in private companies. Few understand the breadth of liabilities, their personal risk, and the remedies or protections. Our partner, Travelers helps businesses understand and demystify Directors & Officers Liability coverage.

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Day to Day Issues that Affect Your Small Business

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

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. Industry Laws & Regulations 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. Employment & Labor Law Learn about U.S. employment laws and regulations and how employers should comply with them. Handling Legal Concerns Do you know how to handle legal issue that impact your business? Protect yourself and your business by knowing what resources are available to you. Understanding Fair Practice What’s an Antitrust law? It’s important to understand these laws so that you do not risk your business’s integrity while gaining customers. These resources will help you have a better understanding. Understanding Insurance for Your Business If you are a business owner, you should consider purchasing the following insurance policies to ensure that your company is protected. Source:...

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Reduce Cost of Construction Risk and Improve Your Bottom Line

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

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: 10.) Industry connections and knowledge. Travelers contributes to industry knowledge and stays current on issues and trends important to its customers by actively participating in construction and insurance trade associations. Those include the Associated General Contractors Association (AGC), Construction Financial Management Association (CFMA) and the International Risk Management Institute (IRMI). 9.) Proven claim expertise. Travelers has claim professionals who are dedicated exclusively to handling claims for contractors. Their understanding of state-specific issues, construction job sites and the nature of construction losses enables them to better manage claims and their outcomes. Each is well prepared to enforce effective risk transfer and pursue aggressive subrogation against responsible parties. In addition, we have more than 60 local offices with co-located medical claim professionals focused on return-to-work activities and critical/major claim case management. 8.) Risk control that can reduce costs. Dedicated exclusively to construction risks, our local risk control consultants have the knowledge and experience to help contractors take a proactive approach to safety and accident prevention. They offer customized programs that help prevent losses and can reduce overall costs for our insureds. In addition, agents and customers have access to Travelers’ industry-leading risk control customer portal (travelers.com/risk control). This 24/7 resource has over 1,500 safety and risk management information tools, including educational and training opportunities such as safety classes and webinars. 7.) Product breadth to serve construction accounts of all sizes and categories. Travelers’ construction product portfolio includes all the core coverages necessary, as well as a menu of specialty products: Contractors Professional Liability*, Owners and Contractors Protective Liability (OCP), Railroad Protective Liability (RRP) and more. Each is tailored by account size, contractor type, geographic area and line of business. Our OCP and RRP products are also available to agents online via eQuote to ensure our insureds have ready access to coverage when they need it. 6.) Surety too, and more, from one carrier. When construction insureds need surety and inland marine coverage, they don’t have to look to another carrier. Travelers has surety and inland marine underwriters and claim specialists who are focused on construction accounts, making it easy to craft a total account solution. 5.) Fast, efficient quoting for smaller construction accounts. Travelers provides smaller trade contractors (generally payrolls of $750,000 to $3 million) with ConstructionPlus+SM, our streamlined underwriting process designed specifically for them. It offers faster turnaround as well as all the same standard lines of coverage, dedicated risk control and claims handling available to larger insureds. 4.) Contractual risk transfer (CRT) knowledge to help avoid unnecessary risk. Understanding and analyzing CRT techniques and liability exposures are core underwriting skills required of our Construction account executives. They keep current with state statutes and industry trends in order to help maintain the best possible risk management strategies. 3.) Team approach. Our construction-dedicated account executives, risk control consultants and claim specialists combine their talents and collaborate with our agents and insureds to ensure effective insurance solutions. 2.) Financial strength and stability. When seeking new business, you know you’ll be backed by the...

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Workplace Risk: How to Prevent Employee Injuries before They Happen

Posted by on Oct 1, 2015 in News | 0 comments

More than one million Americans suffer from work-related injuries each year, ranging from serious crushing injuries at a construction site to muscle or joint problems caused by repetitive activities in an office setting. Workplace injuries can also be costly to both the person injured and the employer. Most employees do not receive their full pay while in recovery, and, according to the National Safety Council, employers pay an average of $40,000 per injury. In addition to the $1 billion the U.S. Department of Labor estimates employers pay annually in direct medical and workers’ compensation costs, businesses incur several indirect costs when an employee is injured. These expenses can include training for replacement employees, accident investigations and corrective actions, repurchase or repair of damaged equipment or property, absenteeism and more. Helping employees avoid injuries before they occur is always the best course of action, but when workplace injuries do happen, employers should have a prepared plan that helps employees recover as safely as medically appropriate and manages costs for all parties involved. Early medical intervention is one approach that can make a difference for the injured employee and the business. Delaying either the reporting or treatment of a workplace injury can increase costs by more than 50 percent, according to a new study by the National Council on Compensation Insurance. When an employee is injured, he or she should promptly identify the injury and work with his or her employer to establish the best plan of care. This will help reduce recovery time and lower the costs associated with the injury. Travelers developed a patented program called ConciergeCLAIM Nurse to provide injured employees with live, face-to-face engagement with a Travelers on-staff nurse who can answer their questions, guide them through the workers’ compensation claim process and assist them with that process throughout their recovery. Because many injured employees come to urgent care clinics as a result of their first on-the-job accident, the Travelers ConciergeCLAIM Nurse program places nurses in select urgent care clinics operated by U.S. HealthWorks or Concentra in more than 50 locations across the country. After the employee has met with the clinic’s doctor, the Travelers nurse reviews the treatment plan and develops a comprehensive return-to-work focused recovery plan. This process includes: * Clearly setting expectations about the claims process in order to reduce uncertainty, anxiety or fear; * Assisting the employee with information he or she may need about the medical treatment plan developed by the clinic’s physician; and * Using the nurse’s medical knowledge to help facilitate the care suggested by medical providers. This help can also lead to faster and more accurate claims and claims-payment decisions. Over a three-year period, workers’ compensation cases using this approach reduced the number of days injured employees were out of work by 41 percent. The number of days it took them to recover from their injury and close their claim fell by 31 percent. For all the preventive measures employers put in place, workplace injuries may be inevitable, no matter the type of business or line of work. Among the uncertainties associated with such injuries, one thing is clear: reporting and treating them early is vital to reducing the pains they inflict on both the employee and the...

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Aging Workforce Cited as Greatest Business Risk Challenge

Posted by on Sep 24, 2015 in News | 0 comments

Business risk caused by demographic change (aging) was cited as the greatest diversity challenge by 48 percent of the survey respondents. Rounding out the top three challenges were gender (29 percent) and nationality (18 percent). Thanks largely to a debate in Europe about quotas for women and about the immigration of foreign talent, the topic of diversity management appears to be a focus at most companies: 80 percent of respondents said that their company had implemented at least three measures to enhance employee diversity. For example, the measures cited most frequently included flexible working-time models and parental leave—both seek to increase the proportion of women in the workforce. However, the survey also found that most companies apply these initiatives only selectively.  “Our research has shown that the business case for diversity is clear and that HR needs to integrate such measures into its broader people policies. A modern workplace must represent its customer base in order to be truly effective and to deliver products and services that drive it to the competitive edge in a global environment,” explains Stephanie Bird, an author of the report and the director of HR capability for the Chartered Institute of Personnel and Development (CIPD). In addition, the survey results reveal considerable differences in how various groups of employees view the effectiveness of diversity initiatives. For example, older workers rate measures for promoting age diversity as less effective than their younger colleagues do. “In order for diversity to be successful, top management must visibly support the objectives, and the entire workforce must be integrated in the development and execution of the programs,” explains Jean-Michel Caye, senior partner at BCG, expert in talent and leadership, and an author of the report. Diversity Is an Integral Part of HR—and the Entire Company “Diversity is an integral element of HR work. It’s a recurring theme that touches all topics, including workforce planning, recruiting, and career management,” adds Pieter Haen, president of EAPM and an author of the report. Only initiatives that go beyond the minimum level of diversity required by legal mandates and social norms can help companies gain advantage. As a first step, companies must analyze which aspects of diversity can promote their business success. The BCG/EAPM report explains how employee diversity can be increased to advance business imperatives through several steps. • Create transparency. The foundation of all strategic HR work is strategic workforce planning—the quantitative and qualitative analysis of workforce supply and demand and of the individual capabilities of workers. Workforce demand should reflect overall business trends as well as a company’s business strategy. • Redefine recruiting. Tailored recruiting campaigns expand the existing talent pool by targeting underrepresented groups, such as female engineers. In addition, the employment of HR officers from outside Europe enables more efficient recruiting of international talent. • Promote diversity. It is equally relevant to promote diversity within the company’s existing workforce and among new hires. Evaluations of employee performance and potential, as well as career moves by managers, should be assessed for how permeable they make the company for new talent groups. The sooner the promotion of diverse talent is achieved at the lower levels in a company’s hierarchy, the better the chance that the organization’s internal diversity can be tapped and enhanced. • Build leaders for the twenty-first century. At many companies, a 2x2x2+5 development program has proved successful. In such a program, aspiring managers are exposed to two business units, two countries, two functions, and at least five different projects. • Retain employees. New groups of employees are presenting employers with new challenges. Financial incentives alone are losing their attractiveness—the ability to...

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