Tags: Small Business

What You Need to Know About Data Breaches

What You Need to Know About Data Breaches

Virtually every company in business today is at risk of a data breach. If you handle any kind of sensitive customer information, have intellectual property, or use computers, your company is potentially a target for cyber criminals. Whether you’re a mom-and-pop shop or one of the Fortune 500, you need to read this and learn what you need to know about data breaches, to protect your company and your customers. Many small business owners mistakenly believe they are too small to attract the attention of cyber crooks, but according to... Read More

How to Manage Job Stress for a Healthier Life

How to Manage Job Stress for a Healthier Life

Job stress is a fact of life. Whether you love your job or aren’t so happy with it, all jobs create some degree of stress, at least periodically. While it’s rarely possible to eliminate job stress completely, there are many things you can do to help reduce and manage the amount of stress you deal with every day on the job. Unmanaged job stress is a common health complaint, and work is often ranked as a higher stressor than financial troubles and family problems, according to the National Institute of... Read More

Are You Helping Employees to Avoid Distracted Driving?

Are You Helping Employees to Avoid Distracted Driving

Every day, more than 1,160 people are injured in crashes involving a distracted driver, according to the National Highway Traffic Safety Administration (NHTSA). In addition, the NHTSA claims that driver inattention is the leading contributor in most crashes or near-miss accidents in the United States. One of the chief causes of driver inattention is cellphone use. Cellphone use has become commonplace, and text messaging, emailing and conducting business via cellphone have become routine. While the convenience of cellphones can be enormous, problems arise when using a one while driving. A... Read More

Business Owner’s Policy–What Every Small Business Owner Needs to Know About Insurance

Business Owner's Policy--What Every Small Business Owner Needs to Know About Insurance

One of the critical needs for every business owner is choosing the right business insurance. Too much insurance means money spent that could have been better spent elsewhere. Too little insurance, or the wrong insurance coverage, can mean leaving your business unprotected and open to risk. Choosing appropriate insurance coverage is key to ensuring that the business remains lucrative, especially if any of those risks become reality. A business owners policy (BOP) takes some of the guesswork out of choosing insurance and can make it easier to safeguard your business.... Read More

Workers’ Compensation in Colorado: What You Need to Know

Workers' Compensation in Colorado What You Need to Know

Workers’ Compensation insurance is an insurance system that provides medical benefits and monetary compensation to assist employees who become injured or ill as a result of their jobs. The Workers’ Compensation Act of Colorado (WCAC) defines employer responsibilities for the state’s workers’ compensation program. Compliance with this act is monitored by the Division of Workers’ Compensation (DWC), part of the Colorado Department of Labor and Employment. One of the purposes of the workers’ compensation system is to reduce the risk of litigation when work-related injuries and illnesses result in employee... Read More

New Standards Announced for Employing Unpaid Interns

New Standards Announced for Employing Unpaid Interns

The payment of interns has been a much-debated and often-confusing topic recently. The standards for determining whether internships needed to be paid or unpaid have undergone some major changes over the last several years, and have left many employers—and interns—confused about employing unpaid interns. To clarify the situation, the U.S. Department of Labor (DOL) announced on January 5, 2018, that it would adopt a new standard for determining whether interns and students are “employees” who must be paid under the Fair Labor Standards Act (FLSA). The DOL clarified that, going... Read More

How to Protect Your Business Against a Flu Epidemic

How to Protect Your Business Against a Flu Epidemic

2018 marks the 100th anniversary of the great Spanish Flu pandemic of 1918, which is believed to have caused the deaths of more than 50 million people. A pandemic is a global outbreak of a disease, such as influenza. According to the World Health Organization (WHO), past influenza pandemics have led to high levels of illness, death, social disruption and economic loss. The 2009 H1N1 influenza pandemic, which affected 213 different countries and has led to over 18,000 confirmed deaths, is just a small example of the potential impact of... Read More

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

Protect Your Business with Employment Practices Liability Insurance

Protect Your Business with Employment Practices Liability Insurance

According to a recent study, more than half of all claims filed for employment-related liabilities are against employers with fewer than 50 employees. Alarmingly, the study also reveals that not even 2 percent of small businesses have employment practices liability insurance (EPLI) coverage. Employment Claims Can Be Costly Employment-related claims can be extremely costly, especially in cases that drag on for years. With a slow economy and increasing adoption of worker-friendly laws, these cases are on the rise—in fact, discrimination claims have increased significantly in the last 20 years. According... 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