8/6/2014 4:00 AM

Don't Wait until a Fire Ignites on Your Construction Site to Start Fighting Fire

The wildfires experienced by Californians over the recent years are just one of the many examples we see when it comes to just how threatening and damaging fire can be. Since job site fires pose a constant threat to construction projects, contractors should prepare for a potential fire by periodically confirming that their risk management plans adequately address the issue. Don't wait until you actually have a fire on-site to start your fight against fire. The following tips have been recommended by the International Marine Underwriters Association to help keep construction sites free from the threat of fire: 1. No smoking - have and enforce a no smoking policy on the construction site. 2. Loss control plan - the written loss control plan should comprehensively address the risks of fire exposure and include specific objectives to be enforced by management on the job site, general safety measures, and a named person to be in charge of on-site safety coordination. 3. Inspections and lo ...

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8/5/2014 3:11 AM

The Laundromat Lease Trap

Does reading make you smarter? If you agree-as I do- that reading makes you smarter, I have a gift for you. It's not an "instant fix". Rather it's a serious look at one of the most overlooked and potentially dangerous areas that, if not addressed, could have be devastating to your Laundromat. A vast majority of the Laundromats we represent are leased spaces where there is a landlord/tenant relationship and believe it or not, your lease can have a dramatic effect on what is and what is not covered on your Laundromat Insurance policy. A poorly written lease can unintentionally put you, the Laundromat owner, on the hook for things that no insurance can cover! As I said, it's not an instant fix. The White paper is 6 pages that details the 3 Main Things to look for in your lease that will negatively impact your insurance protection. I believe it will cause you to think deeply about your lease and landlord/tenant relationship. Click below to download the report http://w ...

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7/30/2014 2:00 AM

Don't Let Crime Plague Your Construction Site

Whether it be arson, vandalism, or theft, construction sites are prime targets for criminal acts. These criminal acts can create some significant added costs, including insurance deductibles and consequential premium hikes; work delays; and replacement of lost equipment, tools, and building materials. Of course, such an event can also affect your overall job site and your client's deadline. The good news is there are several steps you can take to diminish the risk and financial impact of criminal acts involving your job site: 1. Research the work area prior to beginning a job. Carefully researching unfamiliar work areas is especially important if you're not planning to hire on-site security, but should be done regardless. The local police or sheriff department can tell you if a particular area has a high crime rate. If you ask, they'll also usually be able to send a patrol car out to periodically check your site once the work begins. You might additionally ask friendly competitors if they ...

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7/22/2014 10:00 PM

Insurance for Small Construction Businesses

Small construction businesses require several of the same types of insurance coverage that larger businesses need. In addition to this, there are types of coverage available that are specific to the construction industry. It's best to speak with a qualified agent who has experience in insuring small construction businesses. Agents with experience are able to provide the best coverage options. Property Coverage Property insurance may be needed to provide coverage for any real property owned by the company. This coverage may also be needed to cover any personal property that is used for the business. The largest amount of property loss may involve equipment that is taken to varying sites and valuable machinery. Standard property insurance doesn't provide coverage for such items. It's necessary to purchase floaters from contract insurers for such items. Speak with an agent to learn what types of floaters are available and to determine which ones are the best choice for an individual business. It's ...

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7/15/2014 6:00 PM

Understanding Small Business Insurance

There are four types of insurance that most small businesses purchase. The first is property insurance. This type of coverage provides compensation if business property is damaged, stolen or lost. In addition to covering the physical business structure, property insurance covers personal property. This includes inventory, office furnishings, raw materials, computers, machinery and other items that are part of business operations. Property insurance coverage doesn't end with protecting physical assets. It also affords operating funds when business owners must take steps to get their business back on track following major loss. Property insurance may provide coverage for broken equipment in some cases. It may also provide coverage for water damage, debris removal following a fire and several other specific items. Business vehicle insurance is the second type of coverage many small businesses purchase. Anyone who uses their own personal vehicle for business purposes should discuss this type of cover ...

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7/9/2014 4:00 AM

Mind Your Business: Surveillance Cameras and Video Monitoring

Surveillance and video monitoring have become very affordable, easy to implement, and effective. For very little investment, cameras can stream video onto the internet so the owner can monitor and record activities in their business, on site or remotely. Data storage, that is image storage, is almost limitless; and the video history of the store can be kept in multiple locations for safety and replacement ease. Keeping logs and indexes simplifies filing to a few mouse clicks. This video record has multiple uses. In real time, monitoring can deter violent crime, shoplifting, or employee theft. It can help address customer service by dispatching employees to underserved areas of a store, recognize a need for restocking merchandise, or securing a blind area on the premises. Monitoring your business from any remote location allows you the freedom and capacity to balance your family and professional life better. Historically, employee surveillance focused on stolen trade secrets and theft of goods. When ...

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7/2/2014 2:00 AM

Insurance Implications For Green Construction

One of the most popular types of construction in the United States is green construction. This eco-friendly technique gained popularity because of rising energy costs, global climate change and the United States' dependence on foreign energy providers. People all over the country are taking steps to reduce the carbon footprints their homes and business spaces leave. However, this type of construction has very important insurance implications, which all consumers should be aware of. Buildings that are considered green have met several requirements for LEED, which is a certification formally known as Leadership in Energy and Development. LEED was developed by the U.S. Green Building Council in the late 1990s. It was designed to help building owners identify and use construction, maintenance, operations and measurable designs that are better for the environment. In comparison with standard structures, green buildings use water and energy more efficiently. They also have healthier indoor environments ...

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6/24/2014 10:00 PM

6 Helpful Tips for Preventing Theft & Fraud in the Workplace

Sharing confidential company information, stealing equipment and manipulating data are all serious offenses in the workplace. Employee fraud and theft rates have increased in the past decade. These crimes now equal an average of five percent of a company's annual revenue. The following tips help prevent fraud and theft in the workplace. 1. Check references thoroughly . Many employers avoid checking candidates' references. They often make the mistake of assuming that a candidate would not put a reference on the list if that contact would not give a glowing report. However, many candidates provide erroneous phone numbers for personal references. In addition to this, previous employers may reveal important information about that worker's history and tendency for fraud or theft. 2. Conduct pre-employment background checks. This is an important step for any employer to take. However, it is especially important for employers hiring people who will handle cash or have access to sensitive financial ...

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6/17/2014 6:00 PM

Disaster Recovery Checklist for Business Owners and Executives

Everyone is responsible for the disaster preparedness of their own households. Business owners and executives, however, have additional responsibilities. Not only do they have to get their house in order, but they are also responsible for hardening their own businesses to continue to operate despite a local disaster - and to facilitate the recovery of the business, for the sake of investors, customers, employees and vendors. Here are some basic tips those in executive positions can take to ensure the survival of a small business in the event of a disaster. Create a written disaster preparation and recovery plan. This document should be in hard copy in your office, and emailed to new workers, so that they can access the plan even if your offices don't exist. Inventory on-site first-aid kits and other emergency supplies. Secure data offsite. What will happen if your servers are destroyed in a flood or fire at your office? If your business would be d ...

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6/11/2014 4:00 AM

How to Prepare the Construction Site for Severe Storms

Every construction site needs a storm preparedness plan to ensure a safe environment during hazardous weather. It is important to take the necessary time to develop a good plan several months before the storm season begins. Contractors and builders lose millions every year during storm season because of a lack of preparedness. A plan can be executed in just a couple of hours, and the investment is very small. When comparing the invested amount to the possible losses, it is easier for any contractor to get started with making a plan. The following checklist should be completed far before the start of the storm season. Storm Preparedness Checklist 1. Clean the construction site daily. 2. Take photos of the site daily to record project progress before a storm might hit. 3. Order crew leaders to complete current jobs before starting new ones. 4. Complete regular maintenance for electrical and mechanical equipment. 5. Maintain an adequate number of sandbags or water detention devices. 6. Secure all staging ...

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