If you are like most small to mid-sized organizations (under $1 billion in sales) then you should be prepared to define these two terms and understand their consequences for your business. Risk Financing is a fancy term for insurance. Think equities instead of stock. Insurance, in its basic form, is the mechanism whereby an individual […]
I work with high risk businesses every day, and sometimes, when I think I’ve seen it all, something new comes around to surprise me. Many large construction projects will use a “Wrap” or an “OCIP/CCIP” (For more info on what this is, click here) for coverage. When many contractors get enrolled in these Wrap Programs, […]
The NCCI (National Council on Compensation Insurance), is a group that calculates Experience Modification Factors for companies across the entire United States. Some states have their own rating bureaus due to their size and complexity. For example, New York and New Jersey have the NYCIRB & NJCRIB respectively. For detailed explanation on what your Experience Modification Factor is […]
One of my favorite bloggers, Seth Godin, recently posted on his blog about Pitchers and Hitters. His main point was that those who pitch control the game by deciding what pitch is thrown, where, to who. That is why they make more money than any other position in baseball. Hitters by contrast react to what is […]
Do you ever wonder how successful people consistently achieve their goals? Have you unlocked why you achieve certain goals while others fall short? Do you want to transform goals to achievements? Many companies start the new year with new goals and aspirations, some of the most common being: Reduce Costs Retain Clients Increase Profits Improve Employee […]
I recently read a post by one of my favorite bloggers Seth Godin about planning & execution. The guy isn’t just prolific, he is usually spot on. In one of his recent posts he talked about the millions of hours companies all across the country spend with their teams planning and budgeting for the upcoming year. […]
Case Summary: Jones v. County of Erie, No. 971 CA 13-01845, 10/03/2014 The county of Erie hired American Site Developers to serve as the general contractor for a storm damage clean up project. American Site Developers further subcontracted the company Malcolm Pirnie to oversee the work. An employee of Malcolm Pirnie fell out of a […]
Whether you are a business owner, CFO, or the lead operational muckety-muck, you get a pit in your stomach when it’s time to renew your company’s insurance program—a common theme we have heard in 20-plus years consulting with businesses of all shapes and sizes. This occurs primarily because of the failure to invest the required […]
We hear misconceptions every day regarding commercial insurance. It’s no one’s fault really as commercial insurance can be extremely complex, and organizations with complex insurance are truly underserved by the insurance community. We’ve been taking note of the most common myths we’ve heard this month and included them below. We will continue to add to […]