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Washington Businesses See Higher Insurance Rates in 2013
April 29, 2013
Commercial insurance rates for Washington businesses are on a slow-paced assent. Like most industries, price inflation has a lot to do with supply, demand, and profit. The insurance industry makes money two ways, premiums and investments. Money is lost through claims. The insurance industry is currently experiencing high claims–especially in property coverages–and weak investment yields.
Are You Exposed to Foodborne Illness Liability?
March 26, 2013
The Center for Disease Control (CDC) warns that 48 million Americans contract foodborne illnesses and 3000 people die from 31 known pathogens annually. They say many of these illnesses are caught in the home. The CDC cites dairy as the #1 cause, quickly followed by contact with animals. Salmonella in vegetables is also on the rise.
Attracting Quality Unpaid Interns by Using Benefits
March 20, 2013
An internship program can be a fantastic way to meet smart and ambitious people who display a sincere interest in your organization. However, some organizations only have the resources to create unpaid internship programs. The inability to offer compensation can make it harder to attract quality candidates, but offering some incentives that fall within the rules of unpaid internships may help.
Be Careful when Lending and Borrowing Equipment
March 8, 2013
Borrowing equipment is a common occurrence in the construction business as it can save time and costs to do so. However, whether it’s for an hour or a week, there is always the risk of damage to the borrowed equipment. The question then arises as to who pays for the damage.
The Pitfalls of D&O Insurance Excess
February 14, 2013
How many insurers use a standardized policy form for Directors & Officers Liability? None! Each carrier develops their own policy and problems can arise when the terms of the primary and excess policies aren’t the same. Ideally, the primary policy outlines the terms and conditions of the entire D&O program and the excess policies would follow the primary policy without deviation.
Records Management: How Long Should We Retain Records?
January 24, 2013
Often leading up to spring cleaning, I will get a number of inquiries regarding, “How long should we retain records?” It’s a good question without an easy answer. In fact, the answer depends on whom you ask and what record or records you are concerned about.
Risk Management Starts with Me and You!
January 10, 2013
The start of a New Year is also an opportunity for renewal of initiatives, of goals and objectives. In October, I attended the American Society for Healthcare Risk Management (ASHRM) national conference.
Am I Eligible for a Disaster Relief Loan?
December 21, 2012
In the wake of Superstorm Sandy, many individuals and small businesses are finding that federal funding is slow in coming, and not totally guaranteed in some cases. Many insurance companies are also struggling to react to the overwhelming volume, delaying the recovery process further. This has left some business owners sorely in need of immediate assistance in order to get back to the business of earning a living.
Run of Hope
December 14, 2012
On September 30th, 2012, Parker Smith & Feek employees and their family members totaling 140 strong joined 2000 other runners for the Run of Hope. The annual 5k race, 3k walk raises money to aid the search for a cure for Pediatric Brain Cancer.
Gleaners, Food Donations, and Protecting Your Good Nature
December 13, 2012
You’re in the food business, so what better way to show the Holiday Spirit than to do something with food, right? Not only does Parker Smith & Feek have clients who run restaurants and hotels, but also non-profit organizations with elaborate operations of food drives, donations, and distribution to the less fortunate all year long. Working together is what this season is all about, but there are certain insurance exposures you need to be aware of before you donate perishables.
Are You A Gleaner?
The Holiday Food Donation Dilemma for Insurance
December 10, 2012
The need for clothing, household items, and food continues in our community, and there are many great organizations that help fill that role. The people providing this service are caring, dedicated volunteers. However, risk management may be the last thing the organization is thinking about. It is important to understand what your current insurance policy includes, and more importantly, may exclude.
Does WA L&I Cover Out of State Workers?
December 10, 2012
My clients often ask the question, “I’ve got a job in [state other than WA]. I pay for L&I here, do I need to worry about worker’s comp there too?
My answer to that is, “In most cases, Yes.”
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