From the monthly archives: May 2014

We are pleased to present below all posts archived in 'May 2014'. If you still can't find what you are looking for, try using the search box.


5/27/2014 10:00 PM

Good Management Lowers Premiums

How do insurance companies measure good management? And, how does this measurement affect policy premiums? Insurance companies judge management many ways, including attitude toward safety (cooperation with risk personnel), financially (credit checks), superficially (housekeeping, deferred maintenance), and in depth systems analysis (employee selection process). Positive results earn schedule credits, which reduce premiums. Schedule credits enable insurance companies to reward those conscientious managements that have a long-term commitment to reduce losses. The insurance company wants to partner with risk-avoiding management, so they lower premiums to attract these risks. Insurance companies use diagnostic tools to measure the quality of management. Accounting measurements, physical property surveys, human resource surveys, psychological tools and, of course, loss history data combine to paint an overall management picture. Accounting measurements include reviewing financial statements, credit reports, tax f ...


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5/20/2014 6:00 PM

Toxic Torts Can Poison Your Business

In the 1800's, manufacturers and builders started using a natural resource that vastly improved the quality of their products. It added strength to materials, resisted heat, electrical and chemical damage, and absorbed sound. When mixed with cement and used in building construction, it enhanced fire safety. By the middle of the 1900's, manufacturers were using it in insulation, automobile brake pads, drywall, lawn furniture, fireplace cement, gaskets, and a host of other products. Unfortunately, this material, asbestos, can cause serious lung disease and even death in those who inhale its fibers. Builders and manufacturers who used it have endured hundreds of thousands of lawsuits from the victims or their survivors. Claims resulting from exposure to asbestos fall into the category of what is known as "toxic torts" -- injury and damage lawsuits stemming from exposure to substances proven to cause illness or injury in people. Other substances that lead to toxic torts include lead paint, toxigenic mold, indust ...


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