Happy New Year! 2013 Here We Come!

Wishing all of my readers a very happy and safe New Year's!  

Which Workers Comp Wage Thresholds are Increasing for 2013???

Many of us don't agree with the wage threshold hikes, but we're just the messenger for the Workers Compensation Bureau & Insurance Commissioner.  Brokers in our office have had to make difficult phone calls in the past few weeks to our clients and explain the wage threshold increases.  And believe me, no one is happy about the changes.

Here are the workers compensation class codes that will see an increase in wage threshold effective January 1, 2013:

Less Clients, More Service

'Tis the season for being thankful!  And this season I am absolutely thankful for my each and every one of my clients.  They make my day colorful with emails and phone calls.  But the true test is actually being able to be there for a client when accidents or claims do occur.

Late last night I received an email from a client that one

That Will NEVER Happen to My Company!

I can't count how many times I've sat down with C.E.O.'s, V.P.'s and C.F.O.'s for them to tell me that a specific claim instance would never happen to them.  Well, news flash...it has happened to some of my clients!  And no matter how many controls, safety measures and positive company cultures you may boast, it can happen to your company.   Recently we stressed the importance to a company for crime coverage.  The owner was adamant that this would never happen to his company.  He denied the coverage and he is now dealing with over a $350,000 financial loss due to an employee stealing from the company.

Are You Classified Properly???

Answer yourself one question: What exactly does your business do?  Are you a manufacturer and your insurance policy classifies you as a wholesaler?  Are you a general contractor and your policy is classifying you as a subcontractor?  Are you a retail operation and your insurance policy states you're distributor?  Sadly, companies are classified improperly WAY too often.   

Cheating on Your Audit and How it Doesn't Pay Off

Insurance carriers are surely cracking down on clients withholding payroll or gross revenue information.  One of the most repeated complaints I hear from prospects or new clients is that they always get a pesky audit bill at the end of the insurance term.  And, let's be honest.  It's never a good time to pay a large chunk of money to an insurance company.  But if you lie when reporting your revenue or payroll, be prepared to get caught. 

Worst Passwords of 2011

The Insurance Journal did a piece not too long ago on the worst passwords of 2011.  As we are inching our way closer into 2012, maybe it's time to review the top 25 worst passwords and see if any match up with your current passwords.  A good password is the first defense to a cyber attack.  If any of your passwords hit upon this list, it's time to make a change - pronto! 

Do I Really Have to Report Every Workers Compensation Claim?!?!

This past week I did a presentation on what a reportable claim is and how first aid differs from a reportable claim.  After the presentation I quickly realized that many people in the room, let alone my current clients, probably had no idea they had an option when it comes to reporting workplace injuries.  So in the next few minutes, I'll attempt to explain what a first aid vs. reportable claim summary situation actually is.

Shopping Around - Is It Worth It?

Towards the end of the year it seems like I get a wave of panic from clients and potential clients.  As many insured's renew around the first of the year, they all are wondering if they are getting the best deal or if there's anything else they should be looking at.  If I owned my own business, I would be doing the same thing.  I would want to know I was getting the best deal with the best coverage.  And, if you have an ethical broker, they should be marketing your renewal out annually.

Gene Simmons Insured His TONGUE?!

Some celebrities have some amazing "assets" and have specifically decided to insure certain body parts.  Being in the insurance industry for quite some time, I have heard the rumors of J Lo's bum being insured and Mariah Carey's legs, as well.  But were those rumors really true???  Turns out, they are.  And many times it's a sponsor or advertising partner that has put up the cash for these crazy policies.  Here are some of my favorites from the outrageous list.


$317,000 Mustache, MERV HUGHES, Cricket Player

So What Do You Think This Will Cost Me?

I've been flooded with a slue of submissions lately and some companies are start-ups or fairly new in business.  After my initial meeting with the insured and getting to know their company a bit, the ultimate question is posed: "So what do you think this will cost me?".  If only I had a magic wand!  I would wave that wand and poof, an accurate number would appear.

9/11 is My Generation's Pearl Harbor

Yesterday marked the 10 year anniversary of 9/11.  Pictures, memories and stories came flooding back as I remembered exactly what I was doing, exactly where I was, the morning these unfortunate events happened.  Everyone has their story.  But for me, I was sleeping in my college dorm.  I was in the midst of my collegiate soccer days and our team was scheduled to fly to play an opponent the following day.