Crime Insurance Policy

September 9, 2011 in General Liability Insurance with 0 Comments

Did you know that only 16% of firms defrauded by their employees recover 100% of the amount lost?
The SAA / ISO Simplified Crime Policy has a number of components which sometimes can be enhanced by different insurance companies for example:

* A broad definition of “employee,” a term that includes
volunteers, leased employees and non-compensated directors and officers.

* Coverage for check and credit card forgery.

* Coverage for computer and funds transfer fraud. This coverage is not
location-specific and recognizes fraud may take place in cyberspace rather than
only in a physical location.
The basics would give any company a good start to plug this risk gap in their coverage.

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Business in denial?

September 2, 2011 in General Liability Insurance with 0 Comments

 

I have the best employees in the Country.  I completely trust my employees, they have been with me for years and anyways if someone steals from my company and breaks that trust we will be just fine because I will file a claim on our business owners policy. Besides you only watch that fraud thing happen on cable crime shows.  You may have the best employees in the world, I hope you do, however you should know that there is risk in that way of thinking.

The 2010 Association of Certified Fraud Examiners reported that as much as 5% of a typical organizations revenue was lost due to fraud. That means that about $2.9 trillion is the potential lost annually! Sounds like the National Debt numbers! The median loss caused by occupational fraud cases was $160,000 and 25% of all cases were at least $1,000,000.
The typical fraud lasted a median of 18 months before being detected. How would your business fair if you had a loss like one of those?

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Is Debt Risk?

August 22, 2011 in Life Insurance with 0 Comments

Have you noticed all of the debate, drama and anxiety over whether there is risk to the Nation incurred by exceeding the current National debt ceiling?

Take a step back and look at the debt crisis from a personal standpoint. The reason that the United States has a $14+ trillion deficit is that it is spending more than it receives in tax revenues and fees. An appropriate analogy might be dieting – if someone wants to lose weight they need to take in less calories than they consume. Of course this simplistic analogy requires a key ingredient: self-discipline.

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Fatal Distraction

July 31, 2011 in Auto Insurance with 0 Comments

In 1987 an American film classic startled and terrified the fans of the film world. The movie Fatal Attraction was released about a man (Michael Douglas) who has a weekend affair with a  woman (Glenn Close) who refuses to end it.  His lapse of moral judgment resulted in a nightmare for him and his family.

Today we have a serious fatal distraction, we intentionally allow a lapse in our attention to occur while operating our vehicles, while we walk, operate our planes, trains and other forms of transportation.  The destruction of lives and property is growing daily and we are the only ones that can stop it.

The use of the cell phone, texting and general use of laptops while trying to multitask at sixty five miles an hour is like blindly shooting a gun in the air.  Many people obviously think that because they have Windows and can multitask between applications that they can also drive and multitask on their wireless device.  The truth is shown in the damage to our society.

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Your Most Prized Possesions

July 26, 2011 in Homeowners Insurance with 0 Comments

I realize that your life is your most prized possession.  Your faith or family may be next.  Everyone has a pecking order for people, beliefs and liberties.

 What is your most prized physical, tangible item or collection?  What would make you crazy if you lost it?  Would it be your home, or a collection of items you have spent a lifetime acquiring?  Losing your home is a catastrophe, however with adequate homeowners insurance it can be replaced.

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