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When you get a commercial insurance policy, in many cases premium assigned isn?t final. It?s actually an estimate. Your carrier assigns a premium based on an informed guess, based on your prior year business activities. Business changes, of course, and estimates can be off. The purpose of insurance premium audits is to use actual sales and operations data to determine how accurate their guess was….Read More
Despite some recent gains in traffic safety, it?s still dangerous to put a commercial large vehicle on the road. In 2012, there were 30,800 fatal automobile crashes on the nations? highways. About 12 percent of them (3,702) involved at least one large truck or bus. In addition, there were another 5,584,000 non-fatal crashes. About 6. 6 percent of them (367,000) involved a large truck or bus,…Read More
Most businesses have property insurance in place to protect themselves against severe losses from events like fires and explosions. However, the income lost during a shutdown after a loss can be even more devastating. Without business interruption insurance, the organization may suffer a blow from which it will be difficult to recover. Business interruption coverage applies under four…Read More
As many employers know all too well, the Occupational Safety and Health Administration requires them to record work-related injuries and illnesses and to maintain the OSHA 300 Log for five years. Moreover, OSHA requires all employers to report to OSHA certain serious injuries within a short time period. On Sept. 11, 2014, OSHA announced its final rule revising the recordkeeping standard, which has significantly expanded the recordkeeping rule’s reach to hundreds of thousands of new employers and placed further burdens on employers to report additional workplace injuries and illnesses. Since these new rules became effective on Jan. 1, 2015, employers had little time to modify their practices and prepare for the coming wave of enforcement….Read More
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