Every week we hear of a new virus, hack or ransomware that threatens our business operations or employee or client information. Many business owners have been hearing about, and are now considering, cyber insurance. But what exactly is cyber insurance? What does it cover and, is it a good fit for my business?
RISING COSTS OF HEALTHCARE
Each segment of the manufacturing industry has a major issue forefront in their budget process: the rising costs of healthcare. These increasing healthcare costs are the number one concern right in front of unfavorable business conditions, according to the most recent survey from the National Association of Manufacturers (NAM). Below is some data from the latest NAM Outlook Survey; the concern is justified, and the issues appear to be escalating each year:
WHY DISABILITY INSURANCE IS SO IMPORTANT FOR MANUFACTURING
Disability insurance can be even more important for manufacturing companies than other employers. Manufacturing organizations typically have an older population with long tenure and employees historically suffer with chronic conditions. Employees usually experience higher than average musculoskeletal incidence and absenteeism due to the nature and repetitive motion of their jobs. Many manufacturing employees have only worked in their trade, which may result in difficulty finding other employment if he/she becomes permanently disabled from their occupation. Finding the right disability insurance carrier partner can help manufacturing companies develop a stay at work and return to work program that can assist with decreasing incidence of disability and increasing productivity. Disability carriers can help employers develop a rehabilitation and return to work assistance plan that may include, but is not limited to, the following benefits:
We all remember the first email we received from a “foreign dignitary” offering us a ridiculous sum of money in exchange for paying a small amount of taxes, claiming the funds had come from an unknown distant relative. Needless to say, the online threat landscape has evolved into a much more sophisticated, global issue, affecting people and companies of all shapes and sizes. If you are a client of Parker, Smith, & Feek, then you have likely heard us speak on the importance of cyber and social engineering coverage to help indemnify you after an attack. Today, I’d like to give you more guidance on prevention and the current threats that may affect you.
From Seattle to Charleston, tower cranes are dominating the skylines. New construction projects seem to be on every street corner in most metropolitan cities these days. With all of this activity, the possibility that damage may occur on one of those projects; insurance may be needed to pay for the damage; and the owner, developer, and contractors may be confused as to which policy should respond is foremost on the minds of claims professionals.
