Business Insights

How Key-Person Life Insurance Fits in a Business Succession Plan

How Key-Person Life Insurance Fits in a Business Succession Plan

A buy-sell agreement is a contract among business owners which, upon the death of one of the owners, requires the remaining owners or the company itself to purchase the deceased’s interest in the company according to the agreed upon terms of the contract. In addition, the deceased’s heirs are required to comply by selling their inherited interest at the previously agreed-upon price. Although there are other options for funding a buy-sell agreement, the smartest method for doing so is through life insurance, most often a key-person life insurance policy. This... Read More

How Key-Person Life Insurance Can Protect Your Business

How Key-Person Life Insurance Can Protect Your Business

Jeff Moses, president of Auto Custom Carpets, was on his way home from a business trip in Ohio when tragedy struck. The small airplane he was riding in lost control and crashed into a creek near Talladega, Ala. The plane exploded upon impact, killing everyone on board. Jeff Moses’ death left a huge void in the company’s leadership team. Not only was Moses the president and co-owner of Auto Custom Carpets, he was also a charismatic sales leader whose product knowledge and extensive industry experience were integral to the company’s... Read More

How to Work Safely in Cold Weather

How to Work Safely in Cold Weather

Winter has officially arrived in Colorado and with it, freezing temperatures and snow. Winter weather brings with it significant health risks, especially for those who may need to work outdoors in cold weather. Among those risks are hypothermia, frostbite, dehydration and muscle injuries. Frigid temperatures can also cause additional pain for those who suffer from arthritis and rheumatism. To prevent injuries and illness as a result of winter weather, it’s important to learn about the causes, symptoms and safety considerations to take so you are prepared to handle winter’s worst.... Read More

What to do First When a Worker is Injured

What to Do First When A Worker is Injured

When one of your employees is injured, it sets in motion a sequence of events that can last for weeks or even months. But no matter how prolonged the recovery period, the first 24 hours after an injury are the most crucial. To respond effectively to an incident, the majority of the action items should occur within 24 hours.It is essential that both you and your staff know what to do first when a worker is injured. Your supervisors may already be experienced in handling injuries. Still, a clearly defined... Read More

HSA & FSA Contributions Will Increase in 2018

HSA & FSA Contributions Will Increase in 2018

Many employee benefits are subject to annual dollar limits that are periodically increased for inflation. The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the annual dollar limits for various welfare and retirement plan limits for 2018. Although some of the limits will remain the same, many of the limits will increase for 2018. The annual limits for the following commonly offered employee benefits will increase for 2018: High deductible health plans (HDHPs) and health savings accounts (HSAs); Health flexible spending accounts (FSAs); Transportation fringe benefit plans; and 401(k)... Read More

How to Prepare for Your Cyber Liability Insurance Policy

How to Prepare for Your Cyber Liability Insurance Policy

Do you have cyber liability insurance for your business? If you use computers and mobile devices in your business, especially if you store critical company information or personal identifying information or financial information about clients and employees, you need cyber liability coverage. Every insurance policy starts with an application, and cyber liability insurance is no different. While the underwriting process in long-established insurance lines is streamlined, this is not the case for cyber liability insurance. Currently, application forms for cyber insurance are not standard and can be complex—often consisting of... Read More

Considering a Self-Funded Healthplan for Your Company? Here’s What You Need to Know

self-funded v. fully insured healthplans

Are you looking at different options for your company health benefits? Do you want something other than a traditional fully-insured health insurance plan? All group medical benefit plans fall into one of two categories: self-funded or fully insured. The choice of one over the other should not be made arbitrarily. Each type carries its own set of administrative rules and legal constraints.   What is Self-funding? Under a fully-insured health benefit plan, an insurance company assumes the financial and legal risk of loss in exchange for a fixed premium paid... Read More

How to Protect Yourself from Workplace Eye Injuries

How to Protect Yourself from Workplace Eye Injuries

Your eyes, and their health, are critical to your success at work, and to your ability to fully enjoy life independently. According to Prevent Blindness America, more than 300,000 eye injuries occur each year in the workplace. Of these injuries, 10 percent result in missed days of work and of those injuries, 10 to 20 percent will cause temporary or permanent blindness. OSHA estimates that 90 percent of such injuries could be prevented by wearing the proper protective eyewear. Even minor eye injuries can cause vision problems that last a... Read More

How to Protect Your Personal Financial Information

How to Protect Your Personal Financial Information

Is your personal financial information secure? This is a question on many consumer’s minds these days in light of the recent report of a security breach at Equifax, one of the nation’s largest credit-reporting agencies, that may have affected nearly 150 million people. Not only does this breach leave credit reporting information exposed to hackers and criminals, but it also has exposed personal financial information of millions of Americans, leaving them vulnerable to identity theft. So, what do you need to do to protect your credit AND protect your personal... Read More

How To Start Your Company Wellness Program On A Budget

company wellness program

Do you have a company wellness program? If not, why not? Is your company too small? Do you think a wellness program is too expensive? Do you think it wouldn’t make any difference? If you answered yes to these three questions, you’re probably wrong. Wellness programs can provide tremendous benefits for businesses of all sizes. Whether you’re a tiny start-up with only a few employees, or whether you have dozens of employees in multiple locations, you can create and run a company wellness program that will not only help create... Read More