Business – Premier Insurance Services

Struggling for Survival: Businesses That Went Thin on Insurance

Post Author:Mark Kofalt
Post published:March 16, 2020
Post Category:Business

Imagine several small businesses located around the country. Each is well-established and profitable. Each of them bought business insurance - property, liability, automobile and workers' compensation. They told their agents they wanted the lowest possible price for coverage, and the agents came through. But they didn't also take their agents' recommendations to purchase additional coverage. Unfortunately, they each suffered losses that threatened the very survival of their businesses. This is how they each got into such a fix: The underwater restaurateur The owner of a restaurant on the south shore of Long Island, NY, rejects his agent's offer of flood…

As Dump Trucks Grow Longer, Tip-overs Increase

Post Author:Mark Kofalt
Post published:March 13, 2020
Post Category:Business

Dump truck and semi-trailer dumping rig tip-overs are occurring at an increasing frequency, often resulting in drivers and sometimes workers on the ground being injured or killed. The reason for the increase is that end-dump-truck bodies and semi-trailer dumping rigs are being built longer than ever before. For the most part, tip-overs are more often associated with semi-trailer rigs than with straight dump trucks, but both are susceptible to tipping over. If you have these vehicles in your fleet, you should be concerned about the main factors that can result in tip-overs: Truck stabilityPoor hazard controlsPoor maintenance Improper loadingImproper dumping…

Train Your Workers in COVID-19 Prevention

Post Author:Mark Kofalt
Post published:March 6, 2020
Post Category:Business

As the COVID-19 coronavirus spreads across the world and the number of cases growing in the U.S., there is a lot of hysteria and misinformation about how to protect yourself from this new virus strain. More and more people are wearing surgical masks when they go outside, thinking it will protect them. Some people have even stopped drinking Corona-brand beer because they believe it is the same as the coronavirus. (If that's not the definition of panic, we're not sure what is.) This has left plenty of people not sure what they can do to avoid catching it themselves. There…

The Cost-Benefits of Employee Wellness Programs

Post Author:Mark Kofalt
Post published:February 26, 2020
Post Category:Business

The key to getting the biggest bang for your buck in your wellness program is to focus on a few tried and tested offerings that studies have found result in better health for employees and reductions in your overall health care insurance costs. If you use a scattershot approach, the returns may not be as great, and the cost of a wellness program correlates directly with the width and scope of services offered. The following are the top wellness offerings by participation rate, according to a study by the International Foundation of Employee Benefit Plans: Flu shot programs, 50%,Health screenings,…

Concerns Rise Over Letting Employers Fund HRAs for Individual Health Plans

Post Author:Mark Kofalt
Post published:February 5, 2020
Post Category:Business

Employers, health insurers, regulators and hospitals are all raising concerns about the Trump administration's rules issued last year that allow employers to fund health reimbursement arrangements (HRAs) that their workers can use to purchase health plans on the open market. The Centers for Medicaid and Medicare Services, IRS and Department of Labor issued the final rules in late 2019. They reverse one of the major pinch-points of the Affordable Care Act, which bars employers from paying employees to buy their own health insurance either on publicly run health insurance exchanges or on the open market. The fine for breaching this…

New OSHA Guidelines Helps Employers Set Up Safe Driving Programs

Post Author:Mark Kofalt
Post published:January 27, 2020
Post Category:Business

OSHA has published a set of guidelines to help employers reduce accidents among their driving employees. The document is not a set of new regulations or a new standard. It is only advisory ― the federal agency describes it as "informational in content" ― and is intended to assist employers in providing a safe and healthful workplace." Nonetheless, the guidelines are an excellent way to establish a system that can reduce the likelihood of crashes involving your driving workers. OSHA recommends implementing a safe driving program that includes the following: Management commitment and employee involvement Senior management can provide leadership,…

Commercial Vehicle Accident Causes and Prevention

Post Author:Mark Kofalt
Post published:January 16, 2020
Post Category:Business

America's roads, after years of steady declines in vehicle accident deaths, are seeing a significant rise in deadly accidents in the last six years. But accidents can be especially lethal if a large truck or bus is involved. In 2017, there were 37,133 fatal automobile crashes on the nation's roads, according to the National Highway Traffic Administration. About 12.5% of them (4,657) involved at least one large truck or bus. In addition, there were 6,419,000 non-fatal crashes, of which 7% involved a large truck or bus, This means that accidents involving a large truck or bus are almost twice as…

New Overtime Exemption Regulations Have Taken Effect

Post Author:Mark Kofalt
Post published:January 9, 2020
Post Category:Business

New federal overtime regulations have finally been introduced for non-exempt workers after years of wrangling over the issue. Under the new rule, employers will be required to pay overtime to certain salaried workers who make less than to $684 per week - or $35,568 per year - up from the current threshold of $455, or $23,660 in annual salary. The new regulations are a midway point from Obama administration rules that would have seen the salary cap increased to $47,476, a move that was blocked by a court after protests from the employer community in December 2016. Because the Trump…