Risk & Business

Many business owners allow some personal use of company vehicles by employees. Mostly this is for minor business type activities after hours, emergencies, or general accommodations. However in the age of big data, business owners are getting a wake up call.  A quick review of an employee motor vehicle record (MVR), an employer can assess if  fines, accidents, or other violations were after hours in a company vehicle. What is being revealed is that employees are driving a lot more with business autos, than was even expected. One example, is when a DUI shows up on an employee MVR. Employers find out their employee stopped on their way home to a local bar or restaurant and registered a DUI in a company truck.. The bad part about this is the business owner now has a driver that can no longer drive for work and also the business was exposed to high risk due to the driver's irresponsibility. There are many other examples of the risk a business has when employees use company autos after w

The value of mandatory post accident drug testing as a safety and risk management strategy, has been clearly demonstrated for many years. These policies have helped business owners protect employees from injuries and also reduce the costs of insurance and risk. However this has now changed. OSHA has put into effect a new rule that protects employees from actions by employers deemed to be retaliatory. Mandatory drug testing is one of those actions. OSHA wants employers to have a more balanced approach which limits post accident drug testing to situations from which drugs would have likely been involved in the accident. In other words the employer should at least suspect a reasonable possibility that drugs caused the accident. This may be simple in theory but in practicality it will be extremely difficult for employers. Training employers to accurately spot drug use between injured employees so as to determine who gets the drug test and who does not, is a recipe for problems. Mandatory d

There is a new sheriff in town when it comes to catching insurance fraud. Social media has become a fraud investigator's best friend.  Over and over individuals who have claimed work comp injuries or disability injuries are getting caught by their posts on social media. Even the courts are agreeing with the insurance companies ability to use social media against claimants. Critics however,  are saying that it is an invasion of privacy. In addition there has been some question of the ethics of "spying" on claimants in order to deny their claims or arrest them for insurance fraud. These questions are not stopping the industry as they are now using social media investigative software to track people. This is going to get interesting as this type of crime stopping continues to develop. What is amazing is the amount of fraudsters who continue to expose their true intent on social media with no worries about getting caught. Keep your eyes on this one folks. Until next time be c

The experience, of buying business insurance, has been the same for over 100 years.  Most business owners look at it as a necessary evil, and something they hate doing.  Well, times are changing. With many of the biggest insurance companies in the world investing in tech, buying business insurance on your cell phone is not to far away. In fact there are platforms right now that allow you to do it. The insurance buying process will get easier and more efficient over the next few years. Small business owners will be able to utilize their mobile devices to interact with their agents and brokers , who in turn will connect seemlessly with the insurance marketplace. In addition the role of the insurance agent/ broker as a trusted advisor and "go to"  professional  will still be in high demand. However they will need to be tech enabled to allow for an easier communication and processing experience in order for consumers to find them valuable.  All this innovation will come with a p