As retirement plans can be a great addition to an existing compensation package and improve the future of employees, it is important to understand the pros and cons of offering such coverage. While navigating the complexities of retirement plans and its benefits, Fiduciary Liability Insurance can help to mitigate any potential missteps and protect against litigation.
There are numerous benefits to offering retirement packages. For small business owners, in particular, offering a retirement plan as an employee benefit allows the owner to take advantage..
Employee crime is one of the leading causes of company loss each year. At a staggering 5 percent average loss, it is imperative that employee fraud is recognized and prevented. While a Commercial Crime Insurance Program will benefit a company in the event of a case, the following common fraudulent activity types should be recognized in order to prevent a variety of scams.
Monetary Theft- While the typical scheme involves stealing cash from the company, more sophisticated activity involves fraudulent disbursements,..
In today’s society, it is commonplace for employers to provide mobile devices to their employees. While this may seem like a luxury, employees inadvertently spend more time working, both on and off the clock, sparking debate from employees and the Department of Labor for unfair ethics. An Employment Practices Insurance Program can help to mitigate these risks and protect companies against potential litigation as a result of these practices.
According to the Pittsburgh Post-Gazette, a long standing regulation titled “de minimis,”..
A recent report conducted by Symantec Internet Security has estimated over 34,000 known data breaches occur daily. While not all breaches result in compromised personal and confidential information, the sheer numbers are staggering. In order for a variety of industries to remain protected, a Cyber Liability Insurance Program is recommended.
A panel of security experts, led by Joan K. Woodward, President of Travelers Institute and Executive Vice President of Public Policy, determined that small to medium sized businesses are at the highest risk..
The hiring process is a complex, multistep process. While many routine practices are being scrutinized, it is imperative that a firm maintains EPLI Insurance Program to protect against the potential litigation risk during the hiring and onboarding process.
While the standard inquiry of any criminal history has long been a part of a standard job application, a new movement, titled “ban the box” has made waves via the Equal Employment Opportunity agency. This law precludes employers from asking an applicant whether he or she..
Mergers and acquisitions are a common among insurance and risk management firms. In recent Insurance Industry News , Property Casualty 360 has released a list of a few large firms that have merged together.
One such company, York Risk Services Group, announced its acquisition of Brandon, Mississippi based Quick Cat LLC, Quick Cat is known for their commercial lines that offer catastrophe claim services nationally, and even supplies international relief when necessary. According to PC, the acquisition will enhance the services and resources York offers..
As new directors learn the practices of their company, they subjected to absorb a variety of different learning curves. Although inexperience is inevitable, the following mistakes are common while learning the ropes. However, Directors and Officers Risks can be curbed with proper insurance coverage and safe business practices.
Keeping the Star Mindset- Getting promoted is not an easy task and requires plenty of effort and work. However, the director’s mindset should be more focused on encouraging other’s success and hard work. For example, Lindsey..
While every business has its stress factors, there are ways in which they can be reduced. In conjunction with Directors and Officers Liability Insurance, recommend these healthy habits.
Identify Source of Pressure- Even though not every source of stress is controllable, identify all of the factors and determine how they can be managed. This will bring some clarity to the situation and keep from obsessing about things that are beyond your sphere of influence, according to Inside Counsel.
Be Proactive- While not..
As technology develops, more cyber risks become inherent to businesses. In the wake of presidential candidate Hillary Clinton’s indiscretion and mishandling of confidential communications over her personal and business email accounts, this issue of email security has been publicly magnified. To properly protect your client’s information, a Privacy and Network Security Program is critical.
While most business owners assume that mixing personal and business accounts is a time saving tactic, Philippe Weiss of Seyfarth Shaw at Work disagrees. The issue today arises “partly because..
Professional development is an essential component of any profession. Continuing to stay abreast on new field developments, novel technologies, and improving skills are all beneficial to the employee and the employer. Especially in terms of marketing and business development, some experts argue that these skills are required in order to be competitive. In addition to protecting the firm with Legal Liability Insurance, consider the following tips to promote professional development.
Building Credibility- Rapport and credibility takes time to establish among clientele and can be easily..
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