Insurance Baby - Health Insurance for Infants

The Ins and Outs of Builders Liability Insurance

insbaby / October 20, 2020

There are plenty of risks associated with the construction industry. Whether you’ve been working in this field for many long years or you’re still a novice, it is important to make sure you have insurance in place that covers all fronts. To achieve this, it can be a good idea to take a look at the different policy options available to you.

What To Expect

First, you may want to take a deeper look at what is builders liability insurance. Essentially, this is a policy option that helps to cover a few areas you may have not considered with a general policy for liability. With this coverage, you will be protected in the event that something causes damage that impacts the perceived value of the property. If an earthquake occurs, for example, having this policy in place can be a huge help when it comes to recouping your losses. Additional points to consider with this policy include:

Fees associated with local fire officials
Losses due to extreme weather
Protection against government action

Find the Right Fit

In order to keep your assets and your employees safe, you need comprehensive insurance. There are many risks associated with the construction industry and you need to stay mindful of these areas at all times. Review the various policies available to you and find the most sensible fit.

Why Pre Trip Inspections Are an Important Safety Tool

insbaby / October 13, 2020

There are plenty of things that can go wrong when you spend long hours on the road. Truck drivers know this, and take the necessary precautions to minimize risks. One of those precautions is performing a thorough inspection of their vehicle before heading out. When you consider what a pre trip inspection can reveal, it is easy to see why they are such an important aspect of maintaining a safe working environment.

Inspections Are Required

Performing a pre-trip inspection is a requirement for commercial truck drivers. In the event of an accident, the inspection log is one of the first places investigators will look. Rules do vary among companies and between states, so be sure to know what you need to check before getting started.

They Help You Find Potential Safety Issues

Inspections can turn up a host of safety problems. In addition to problems with brakes or the steering mechanism, you may notice worn wipers that can limit visibility, broken indicator lights or damaged tires during your check. It is also a good opportunity to identify any missing tarps or tie-down components before you need them.

Take Steps To Keep Yourself and Others Safe

Performing a pre-trip inspection gives you a chance to examine the major components of your vehicle. It is an excellent way to identify potential problems and keep up with necessary maintenance tasks. Combined with an appropriate insurance policy, it can help you minimize risks and liability while performing your job.

Can FMLA and Workers’ Compensation Overlap?

insbaby / October 6, 2020

Laws have been created to protect employees who are injured on the job or who require extended time off. Both the Family Medical Leave Act and workers’ compensation were designed to help employees in those situations.

Approved Reasons for FMLA

FMLA ensures job protection for qualified employees who request unpaid leave. There are specific reasons for qualifying for FMLA, and the period of time must not exceed 12 weeks in 12 consecutive months.

Taking care of a family member with a serious health condition
Bringing a new child into the family, either by birth, foster care or adoption
Recovering from a health condition in which the employee isn’t able to perform essential job duties

Rules for Workers’ Compensation

Workers’ compensation provides income and health care for qualified employees who are injured or become ill on the job. It doesn’t necessarily allow for job protection, however.

If an employee qualifies for compensation under the laws of both FMLA and work comp, the employer must evaluate the situation and provide leave under whichever law gives the employee the best compensation. Each state has different rules pertaining to FMLA and workers’ compensation, so the choice can seem daunting. To avoid confusion, it’s important for the business owner to discuss options with their insurance agent.

FMLA and workers’ compensation are in place to help employees in their time of need. Business owners who are prepared will better serve their workers.

Choosing an Appropriate Insurance Company for Your Needs

insbaby / September 25, 2020

Picking the best insurance provider can prove a bit more challenging than many people realize. When it comes to personal insurance, there are a ton of factors to consider. Do you need homeowner’s insurance? What about coverage for your automobile? Plenty of small business owners require additional policies to cover inventory stored at home. In order for you to feel confident in the provider you select, there are a few key factors to focus on with insurance companies in San Pedro.

Consider Your Specific Insurance Requirements

First and foremost, you want to ask yourself what type of insurance you require. Be as specific as possible. Even though taking out a general liability policy for a small business seems like a tangible goal, there are vast differences between the insurance needs of the retail industry and the service industry. This is true of any policy you may require. If you need a homeowner’s policy, consider the specifics of your house and what risks it might face due to location, history and environmental factors. Additional points to consider when researching insurance companies in San Pedro include:

Experience of the agents
Familiarity with your unique insurance needs
Competitive rates and options

Make an Informed Decision

By giving yourself time to refine your search for the right insurance provider, you are more likely to feel satisfied by the results. Conduct a bit of additional research and see what agency is a good fit for your needs.

3 Types of Vessel Pollution

insbaby / September 10, 2020

Vessels are responsible for many different types of pollution, all of which harm the surrounding marine life and environment. It’s important to be aware of pollutants, as well as guidelines that attempt to temper them when trying to understand what vessel pollution really looks like in the modern world.

1. Air Pollution

Perhaps the most obvious type of pollution, air pollution from vessels is responsible for a large percentage of the world’s nitrogen and sulfur oxide emissions. Vessels also emit a number of greenhouse gases, such as carbon dioxide, which must be managed according to strict environmental guidelines.

2. Water Pollution

Water pollution has many faces but most commonly takes the form of oil spills. These spills not only pose an immediate threat to wildlife but also leave behind toxic materials that harm the marine environment for years to come. They can cause issues such as birth defects and interrupt the food chain indefinitely.

3. Sound Pollution

As vessels evolve, sound pollution poses an increasingly greater risk to marine life. Many animals rely on sounds to communicate, navigate, and survive. The often unnecessary noise emitted by vessels renders reliance on this sense difficult if not impossible.

Though they cannot be avoided entirely, the detrimental effects of vessel pollution can be significantly reduced. It’s often wise to turn to vessel pollution insurance as a means of adhering to environmental guidelines and responding to incidents. This allows vessels to operate efficiently while protecting the environment as much as possible.

Insurance for Nonprofits

insbaby / August 31, 2020

Nonprofits are unique from regular businesses in that they don’t have a lot of formal employees. Instead, they have volunteers who still need to be covered in the case of accidents and injuries. A nonprofit that doesn’t have basic insurance coverage risks being sued over basic liabilities. Here are insurance types to consider for protecting your volunteers.

General Liability

First and foremost, general liability insurance simply covers anyone who is injured on your property or injured due to your negligence. It protects you from being sued for negligence by volunteers. This does not cover you or your property but is purely to keep you out of lawsuits and courtrooms.

Directors and Officers Liability

This insurance specifically protects your company and anyone working for it, including volunteers, from being sued for acts that caused harm, including breaches of duty and errors. You can even be protected from libel and copyright infringement.

Workers Comp

Workers’ compensation is not a part of volunteer insurance programs. It only covers official employees and does not extend to volunteers. Many insurance companies have add-ons for including volunteers in some portion of their other policies. If you are a company with many volunteers, you should consider these options before work begins.

Getting insurance for volunteers can be trickier than it seems. Making sure you have the right insurance to cover them can prevent hassle down the road.

How COVID-19 Is Affecting Cyber security in Healthcare

insbaby / August 20, 2020

When people imagine the pandemic, the security of their personal information probably isn’t at the top of their list. However, research shows that COVID-19 and healthcare cybersecurity go hand in hand. In fact, the Department of Health and Human Services reports a nearly 50% increase in breaches between February and May of 2020.

The Cause of the Increase

Cybercriminals may be high-tech, but they are still just criminals. Criminals look for opportunities, and the pandemic presents them. They have long since used remote medical devices to infiltrate healthcare computer systems and steal information, and the increase in patients has made that easier than ever. In addition, temporary medical facilities erected across the nation don’t have the same protection that established hospitals do. This leaves them vulnerable to security hacks that may go unnoticed as doctors and nurses continue to focus on taking care of COVID-19 patients.

Protecting Your Facility

The question is what can you do to protect yourself, your staff, and your patients from becoming victims of cyber theft during an already tumultuous time? Boosting security on computer systems is essential, of course. This means more encryption and avoiding open applications whenever possible. Staff training further protects your facility. Teach your personnel about the importance of guarding information and how to do it, including avoiding using personal applications or email addresses at work and always using strong passwords to log in to the healthcare system.

COVID-19 means you already have your hands full running your healthcare facility. Don’t make the mistake of trying to protect your business on your own. Cybersecurity professionals can work with you to ensure system protection and even train your employees to keep your facility safe.

Commercial Insurance Coverage for Your Laundromat

insbaby / August 11, 2020

Running a coin-op laundromat can be a very worthwhile venture. Laundromat operators face a unique set of risks regarding potential liability claims as well as damage to their property or equipment. They need to choose their insurance coverage carefully in order to fully protect their businesses.

Coverage Elections

Laundry insurance coverage needs will vary depending on a business’s assets and services. The value of its equipment and physical premises will be a significant factor in determining coverage needs. In addition, a laundromat that offers pickup and drop-off services will need extra policy coverage.

Liability Considerations

A laundromat can face many different types of liability scenarios. A customer can bring a claim for an item that is damaged or lost. Alternatively, a customer could sustain an injury at a laundromat and bring a claim for property damage. Likewise, an employee could sustain an injury and need to utilize worker’s compensation benefits.

A comprehensive commercial insurance package should address the full scope of your laundromat’s risk exposure so that your business will be protected in the event of a loss or liability claim. It’s advisable to work with an insurance company that is experienced in serving clients in your industry and has a strong understanding of the nuts and bolts of managing a laundromat.

Risk Assessment in Cannabis-Related Industries

insbaby / July 21, 2020

Since the passing of regulation across the nation that allows for both medical and recreational use of marijuana, there has been an increase in the number of marijuana-based businesses operating across the country to meet the demand. There are numerous steps in the process to get to the final product, and hemp harvesters are often most important in the initial growth and reaping stages. Despite being a third-party participant in the industry, these workers and operations have just as much liability as those who dispense hemp products.

Various Liability Concerns

Within the harvesting process, there are concerns over crop loss, equipment failure, and product spoilage. For large operations, the standard commercial concerns of general liability, workers’ compensation, and automotive liability are also present. Comprehensive insurance services that are uniquely written for the cannabis and industry-related businesses are a way to protect from the financial and legal fallout of a claim.

Risk Management Options

Hemp opens new doors for the farming industry, and given the new economic opportunities, the U.S. Department of Agriculture has announced two programs that will help protect the crops of hemp producers in the event of natural disasters. Risk management strategies, in addition to insurance, include knowing the compliance regulations for growing a product, conducting risk assessment audits over operations, and keeping employees well-trained and aware of risk concerns.

New regulations will continue to affect the hemp and cannabis production industry. Make sure your company has the right protections in place.

Is There a Tax Deduction for Spoiled Food?

insbaby / July 14, 2020

All food, including bottled water, has an expiration date. Because owners of restaurants, grocery stores, and convenience stores spend up to 30% of their annual budgets on food, they are always in a race against time to sell their inventory before it expires. Learn how much they stand to lose by throwing food away and whether there is a food spoilage tax deduction they can claim.

Spoiled Food

There is no special tax deduction for spoiled or expired food. Deductions are rather based on the total cost of food purchased in the first place. The ultimate destination of the food and the amount for which it is sold does not affect this credit. Donating–rather than tossing–the food, however, does affect the tax rate.

Donated Food

A business that donates food before it expires can deduct the value of the food’s selling price. In this way, C-corporations can deduct up to 10% of their taxable income, and other businesses can deduct up to 30%. The Protecting Americans from Tax Hikes Act of 2015 allows all businesses, including C-corporations, to deduct up to 15% of their taxable income if their donations meet certain criteria. They are allowed to deduct either two times the value of the food or its value plus half its profit margin.