Tags: Small Business

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

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

How to Protect Your Business from Ransomware

How to Protect Your Business from Ransomware

Computer hacking—and especially ransomware—has become a hot topic in the business world. And with good reason. The damage caused by global ransomware is predicted to exceed $5 billion in 2017, according to researcher Cybersecurity Ventures. Up from $325 million in 2015, the costs represent not just the amount of the ransom, but also the costs of downtime and lost productivity. Ransomware is any type of malicious software that infects a computer and either prevents it from working as it should or prevents access to certain files until the user pays... Read More

Employers Need to Start Using New I-9 Form

Employers Need to Start Using New I-9 Form

 The United States Citizenship and Immigration Services (USCIS) has released an updated Form I-9. Employers are encouraged to begin using this form immediately and must begin using it no later than September 18, 2017, or face potentially large fines. You can download the new form here. Form I-9, is the document that verifies the identity of new hires and ensures they are authorized to work in the United States. The new version includes changes to the form’s instructions and list of acceptable documents, which were created with the supposed goal... Read More

7 Reasons You Need to Use an Insurance Broker

7 Reasons You Need to Use an Insurance Broker

Do you want to save on your business expenses? Do you want more time to build your business and then enjoy the fruits of your labors? You can save both money and time by using an insurance broker to handle your business insurance needs. When most business owners think of saving money, they assume it means doing it themselves. There are many areas of your business where going DIY can save you money. With business insurance, though, going DIY could actually end up costing you more. More money, more time... Read More

Protect Your Business with a Business Insurance Check-Up

Protect Your Business with a Business Insurance Check-Up

When was the last time you had a check-up? No, not you personally—your business. Just as having a regular medical check-up can help keep you healthy and save you money, a regular business insurance check-up can help keep your business healthy—and save you money. As your business grows and changes, your business insurance needs will change as well. But too often, business owners fail to regularly check their insurance policies to make sure their coverage has stayed current with the needs of their business. If any of the following have... Read More

Bill to Offer Comp Time Advances to Senate

Bill to Offer Comp Time Advances to Senate

While comp time, also known as compensatory time, has long been a common practice for many federal and state employers, it has not been allowed for private employers. The Working Families Flexibility Act is set to change that. The Act would amend the Fair Labor Standards Act (FLSA) to allow comp time for certain employees, if certain conditions are met. This bill (also known as H.R. 1180), will authorize private employers to offer compensatory time instead of overtime pay for nonexempt employees who work more than 40 hours per week.... Read More