Travelers Insurance Company has joined the ranks of other major carriers such as The Hartford in writing coverage for technology companies. Travelers Global Technology President Ronda Wescott and Chief Underwriting Officer Mike Thoma provide their perspective:
If you have a Life Science or Software and Information Technology Company and would like a review of your current insurance portfolio, feel free to contact me anytime. I can help market your coverage’s with all the major carriers specializing in this sector.
Some of the most common insurance coverage’s important to the Life Science or Software and Information Technology industry are:
- Commercial General Liability
- Professional Liability (Errors & Omissions)
- Workers’ Compensation
- Commercial Automobile
- Commercial Umbrella/ Excess Liability
- Cyber Liability & First Party Data Privacy Expense
- Directors and Officers Liability (D&O)
- Employment Practices Liability
- Fiduciary Liability
- Kidnap and Ransom
- Group Medical Insurance
- Group Life and Disability
One of the various reasons we see Workers Compensation Insurance rates on the rise are due in part to deadbeats like this. Not only in aiding of the robbery of her on bank branch of $565,500, Aurora Barrera, 33, later filed a claim for post-traumatic stress disorder. “The bank’s insurance company subsequently paid her more than $35,000 in disability benefits and covered more than $9,000 in medical bills associated with the alleged workplace injury.”
See the full story from the Los Angeles Times. More than happy to see her locked up for 9 years. Honest employers pay the price for frauds like Aurora Barrera.
Some doctors are saying that sitting is the new smoking. According to the Mayo Clinic, sitting, like smoking, is a pervasive problem that harms your health. Approximately 80% of Americans work a non-active job, making all-day sitting a common occurrence.
Lengthy, uninterrupted periods of sitting cause poor circulation and low calorie burn and are linked to various health problems, including obesity, hypertension, diabetes and cardiovascular disease, as well as stiffness, headaches and sluggishness.
Your job may require you to spend a considerable amount of time at a desk, or maybe you’re fond of all-day movie marathons. Try these tips to sit less, move more and improve your health:
- Stand while talking on the phone or watching television.
- Have a walking or standing meeting at work.
- Stand up and stretch at least every hour.
- Wear a pedometer and find ways to add steps into your daily routine.
- Take the stairs when possible.
- Consider walking or biking when commuting to work or running errands.
Source: Zywave, Inc.
Did you know that you can access your UV index, which provides a forecast of the risk of overexposure to UV rays? This is a helpful tool for employers with outdoor workers.
Protect your outdoor employees from UV rays; check your UV index here: http://www2.epa.gov/sunwise/uv-index
As we speak, the temperature in long beach is 91+ degrees right now. The UV Index is 11 which is extreme:
At 11, protection against sun damage is needed. If you need to be outside during midday hours between 10 a.m. and 4 p.m., take steps to reduce sun exposure. A shirt, hat and sunscreen are a must, and be sure you seek shade. Beach-goers should know that white sand and other bright surfaces reflect UV and can double UV exposure.
Check your UV index for yourself and be sure to keep outdoor employees protected from the sun.
When you’re working in the heat, safety comes first. With the OSHA Heat Safety Tool, you have vital safety information available whenever and wherever you need it—right on your mobile phone.
The app allows workers and supervisors to calculate the heat index for their work site, and, based on the heat index, displays a risk level to outdoor workers. Then, with a simple click, you can get reminders about the protective measures that should be taken at that risk level to protect workers from heat-related illness.
For more information about safety while working in the heat, see OSHA’s heat illness Web page, including new online guidance about using the heat index to protect workers. Download the app directly from OSHA’s website.
Being an entrepreneur makes you the boss, but along with getting to choose your own hours, location, and business plan, it also means that you’re responsible for a lot of other things like commercial/business insurance. There’s a lot more to business insurance than getting the lowest business insurance quotes. It means understanding your business’s unique needs and the potential hazards that can threaten its success.
This brief video from the Insurance Information Institute touches on the ins and outs of small business insurance, including coverage for:
- Property loss
- Business disruption
- General liability (including product liability)
- Professional liability (also known as “Errors & omissions,” or “E&O”)
- Employment Practices Liability
- Workers’ Compensation
Credit: Insurance Information Institute
A construction worker is rescued from a giant fire at AIG campus in Houston, Texas, on Tuesday. The amateur footage, filmed by onlooker Karen Jones, shows a man trapped on a top-floor balcony of an apartment complex that had been under construction. He manages to escape as fire destroys the building. No injuries were reported as a result of the blaze. It is still unclear what caused the fire. You’ll get some sweaty palms watching this one! Especially when the construction worker swings down to the lower level balcony!
As seen in this Youtube video, “in a Russian liquor warehouse, a forklift driver hits the gas in reverse and plows into a warehouse rack filled with liquor, causing a domino effect that brings down half the warehouse. There was over a hundred thousand dollars in damage. The driver survived. No report if he is still employed.”
All joking aside, an accident like this can have a vast impact on your business operations such as Property Damage with the destroyed product. Think about the extensive clean up and reorganization; the suspense of business operations/ business income/interruption exposure. Also, from a Workers Compensation and Employee Disability standpoint, there are injured employees which means lost time, recovery, employee shortage, and training costs for other employees to fill the void. This can have a devastating impact on your bottom line.
Here are some Safety Tips For Forklift Drivers:
- Each day, check that the forklift is ready for the day’s work and perform any necessary maintenance before operating.
- Report any malfunction or poor performance to your supervisor immediately.
- Use reverse when going down inclines and go forward up inclines.
- Do not travel with the load elevated, and keep the load stable and as close to the floor as possible.
- Avoid raising or lowering a load while the forklift is moving.
- Always keep the load tilted back towards the carriage while raising and lowering.
- Make sure the load is balanced and is within the capacity of the truck.
- Never use the forks as a personnel elevator unless properly equipped.
- Always make sure your driving path is clear.
- Slow down for corners, blind spots and doorways.
- Drive defensively by always being aware of your surroundings and watching for the unexpected.
- Be aware of ground conditions and always take the smoothest possible path.
- Never try to turn on an incline.
- Cross tracks diagonally and slow down for uneven surfaces.
- Keeps legs, arms, feet, hands and head inside the forklift.
- Be aware of others around the job site, in case they do not see you.
- Always give those on foot the right of way.
- Stay out from under forks and loads.
- Never show off or use the machine for anything other than your specified job tasks.
- Never give anyone a ride or allow anyone who is untrained to operate the forklift.
Finally, here’s a Sample Performance Test for Forklift Operators for reference to monitor your employee forklift drivers.
Minimize, monitor, and control the probability and/or impact of unfortunate events before they happen. That’s what Risk Management is all about.
It’s that time of year again—Feb. 1 marks the deadline for you to tabulate your annual OSHA Log Summary (OSHA Form 300A) and post it in a common area wherever notices to employees are usually posted.
The summary must list the total number of job-related injuries and illnesses that occurred in calendar year 2013 and logged on the OSHA 300 Form. And don’t forget to leave the Summary posted until April 30, 2014.
If you need additional assistance, have questions about recordability, or would like to compare your loss performance trends against national benchmarking data, contact me today for more information.
Fall protection was once again the most-cited workplace safety violation in OSHA’s annual top 10 violations list for fiscal year 2013. The whole list is as follows:
- Fall protection: 8,241 Violations
- Hazard communication: 6,156 Violations
- Scaffolding: 5,423 Violations
- Respiratory protection: 3,879 Violations
- Electrical – wiring methods: 3,452 Violations
- Powered industrial trucks: 3,340 Violations
- Ladders: 3,311 Violations
- Lockout/ tagout: 3,254 Violations
- Electrical – general requirements: 2,745 Violations
- Machine guarding: 2,701 Violations
The list was presented at the National Safety Council Congress & Expo in early October.
Take this opportunity to review your company’s safety policies and address any areas of weakness.
Contact me or your risk manager to find out more about how you can reduce worker injuries and keep your employees safe and healthy.