If you are a business owner, you have undoubtedly heard of building and equipment insurance, which covers your business’ buildings and all personal property under the care or control of your business. Even so, you may not yet be aware of everything else this insurance covers, and just how important it can be to you and to your business.
Violence in the workplace has become an increasingly more common occurrence. According to the Bureau of Labor Statistics in its 2004 report entitled Fatal Occupational Injuries by Event or Exposure, 1998-2003, there were 631 documented workplace homicides in 2003. Workplace homicides are the second leading cause of death in the workplace and they make up 16% of all occupational fatalities.
For many workers, handling hazardous chemicals is part of their daily routine. However, no matter how routine, you should never let your guard down when it comes to handling chemicals properly. Each chemical has its own set of hazards, which means the recommended emergency procedures for each chemical are different. If you are going to handle chemicals safely, you should be aware of the manufacturer’s recommended handling and storage procedures, the personal protective equipment you will need when handling, and the actions to take in the event of a chemical spill or leak.
More and more companies are hiring independent contractors to handle not only administrative matters, such as benefits and human resources, but also sales and distribution. With this delegation of authority to third-party suppliers comes less direct control over these operations, and greater becomes the need for clients to demand that vendors provide them with timely Certificates of Insurance (COI).
Insurance companies judge management many ways, including attitude toward safety (cooperation with risk personnel), financially (credit checks), superficially (housekeeping, deferred maintenance), and in depth systems analysis (employee selection process). Positive results earn schedule credits, which reduce premiums.
Many jobs require lifting and pushing in one form or another as part of the routine job description. Employees that frequently lift or push objects need to be aware that lifting, pushing, and over reaching can cause strains and sprains. Such injuries typically affect the back, arms, and shoulders and are caused by improper handling techniques. If your job requires you to push, pull or lift during the day, make sure you know how to perform these activities properly.
Intellectual property is the crown jewel of any business, no matter its size. That’s why R&D departments exist and also why companies incur great expense to obtain patents. In fact, the race to innovate has heated up dramatically. But as Tom Aeppel noted in an October 25, 2004 The Wall Street Journal article entitled “Patent Dispute Embroils Industries,” the growing drive to be first has also ushered in another phenomenon
The wildfires experienced by Californians over the recent years are just one of the many examples we see when it comes to just how threatening and damaging fire can be. Since job site fires pose a constant threat to construction projects, contractors should prepare for a potential fire by periodically confirming that their risk management plans adequately address the issue.
Research conducted by the Chubb Group of Insurance Companies revealed that over 36 percent of private companies have been victims of an employee theft within the past five years. The dollar value of these thefts has averaged nearly $350,000. The researchers also pointed out that more companies are facing similar situations as they reduce staff and make budget cuts. Both actions motivate employees to steal funds, equipment and inventory.
In the case of United States v. Atlantic Research Corporation, the Supreme Court ruled that potentially responsible parties (PRPs) that voluntarily clean up contaminated sites may sue other PRPs to recover their cleanup costs under section 107 of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). The reinstatement of this right comes after many years of federal court battles over the issues of authority and methodology for recovering cleanup costs from other PRPs.