Fireworks Information Center

Fireworks are synonymous with our celebration of Independence Day. Yet, the thrill of fireworks can also bring pain. On average, 280 people go to the emergency room every day with fireworks-related injuries in the month around the July 4th holiday.

Compliance Bulletin: HHS Audits Reveal Critical HIPAA Compliance Gaps

Choosing the right insurance policy is much like choosing the right motorcycle. You want it to fit your needs and lifestyle—and to be within your budget. Here’s a guide to insurance coverage for your bike—and some tips to make your insurance ride more “easy” on your wallet.

Motorcycle Insurance

Choosing the right insurance policy is much like choosing the right motorcycle. You want it to fit your needs and lifestyle—and to be within your budget. Here’s a guide to insurance coverage for your bike—and some tips to make your insurance ride more “easy” on your wallet.

Live Well, Work Well

Articles Include:

  • WHO Calls for a Ban on Artificially Produced Trans Fat
  • Myth Busted: Sweating More Doesn’t Necessarily Mean You Burned More Calories
  • Snack Smart, Save Money, Time and Calories
  • Recipe: Lemon Velvet Supreme

Accidents Happen: Here’s How Technology Can Help Keep Remote Workers Safe

Insurance agents and adjusters are often away from their desks attending to customer needs and inquiries in the field. While this is a required function of business, it also creates risks for employee safety. Managing the security of mobile workforces is not unique to the insurance industry.

Benefits Buzz

Topics Include:

  • ACA Affordability Percentages Will Increase for 2019
  • IRS Announces HSA Limits for 2019
  • Did You Know? Outline for Potentially Lowering Prescription Drug Costs

Reduce Your Risk of Fraudulent Claims

It is natural for managers to consider staff reductions (a.k.a. reductions in force, downsizing, rightsizing) when faced with downturns. Reduced costs in payroll and benefits show up reasonably quickly and employees can be eliminated in areas where there is reduced demand.

Technology Companies & Comprehensive Insurance Coverage

 

By: John Abbott

 

When people think Technology Insurance, most will think of Cyber Liability coverage first.  While Cybersecurity and Cyber coverage is a growing concern and an important area for all companies to address, whether they are technology related or not, it is just one component in a robust risk management program.  Cyber related losses are not always the most damaging, nor are they the only area of concern for companies.  The more pertinent risks are often more mundane: is my property insured for a proper value, do I have coverage for all perils that I am facing, does my insurance comply with my contracts, am I buying enough insurance to cover my exposures?

When it comes to coverage plans specifically designed for Technology companies, one unique area of risk that must be addressed is Contingent Risk.  With cloud based services and Sass-model software increasingly being utilized by Technology companies, the risk of loss is being outsourced to third parties who provide these services. Their use provide flexibility and cost-savings that fit well into business models and help companies prosper, but it also places upon companies a greater dependence on the systems of their providers.

There are ways to provide a backstop to limit the impact to your business and mitigate this risk. Contingent Liability coverage steps in to play when a third party loss occurs and the loss is tied to the insured party, making them liable as well. Pairing Contingent Liability with a full risk management plan ensures companies are covered even in situations where they are not primarily liable.

Keeping in mind the areas of unique exposures Technology companies face helps to build a solid coverage plan that protects not only the company in question, but their employees, associates, and customers as well.  Through a comprehensive risk management view, we can craft an insurance program that will balance what you need to cover and what you want to spend.

 

John Abbott is a Senior Account Executive with AssuredPartners Colorado and specializes in companies in the Technology industry. He has a demonstrated history of working in the insurance industry and is a strong professional skilled in Professional Liability, Risk Management, Property & Casualty Insurance, Excess, and Employment Practices Liability. Contact John at AssuredPartners Colorado to discuss your companies insurance needs (303) 863-7788.