Your business: Managing the risk of employee claims

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Managing people in the workplace can be risky business. Even in the best employment environments, there are opportunities for an employee to become disgruntled. Seemingly insignificant mistakes made by a manager can lead to a charge or lawsuit resulting in financial losses for your company.

You can mitigate the risk to your business by purchasing employment practices liability insurance (EPLI).

According to the U.S. Equal Employment Opportunity Commission (EEOC) website, claims filed with the EEOC (the government agency that enforces federal employment discrimination laws) increased by 18 percent in just the past 10 years. The basis for the claims span a variety of issues, including discrimination based on race, gender, age and disability.

Your actions and motivation are subject to scrutiny throughout the entire employment process, from recruiting to termination and beyond. Decisions made in the past may be re-examined as state and federal laws change, and challenges to your decisions can be made months and sometimes years later.

Even if you have done everything right, the cost of defending against an employee claim can be prohibitive. While the damages recoverable vary, employers can be required to pay damages for back pay, front pay, other economic losses and mental anguish.

It is always advisable to consult with an attorney when developing employment applications, employee handbooks and other materials, and when making employment decisions. But even that does not prevent an employee who feels he or she was wronged from filing a grievance.

Fortunately, that’s where EPLI coverage fits in. This coverage provides a limit of insurance, separate from the standard commercial policy, which covers your business operations against many actual or alleged wrongful acts that may have been committed. The types and amounts of EPLI coverage that can apply   ̶  including co-pay percentages, limits and deductibles   ̶  can vary widely.

That’s why it’s important to assess your situation, consult with your attorney and speak to an independent agent who can tailor coverage to fit your needs. In many cases, your insurer can also provide welcome information about employer best practices and sample employee policies or other loss prevention assistance.

We specialize in employee benefits, and can guide you through your coverage needs. Give Dave a call with any questions, at 303-834-1001.

Submitted by Cincinnati Insurance 

Tips to help your insurance agent help you

Periodically review your insurance needs
with your agent.

You count on your independent insurance agent to guide you through the purchase of personal insurance coverage tailored to meet your needs. But after the initial purchase, how often do you re-examine your policies? Your independent agent can also help you evaluate coverage periodically as your needs change.

Review at renewal

Renewals are a great opportunity to verify that you are properly insured. When you receive your renewal information from your agent or carrier – usually several weeks prior to the policy renewal date – check your coverages to make sure they’re still appropriate to your situation. If something has changed, mention it to your agent.

Consider these questions:

• Has something about your property changed? Maybe you renovated a room, purchased luxury appliances or added a swimming pool, home theater or other room. You’ll want to make sure you’re adequately covered.
• Did you sell the stamp collection you had listed separately on a personal items policy? Or did you purchase a violin for your child to play in the orchestra? Maybe you purchased cameras, computers, guns or jewelry…These are events that warrant an insurance review.
• Did a son or daughter graduate from high school and head off to college? If your child is not taking a car to college and will no longer have regular access to your family vehicle, you may be able to save money on your auto premium during the time that child is away from home.
• Do you have concerns about your personal liability? Consider adding an umbrella policy. For a reasonable premium, an umbrella policy adds worldwide liability coverage above and beyond the limits provided in your primary policies. In some cases, the umbrella may even provide coverage for things that might not be covered in your primary policies.

Consult with your agent to discuss all the changes that took place during the year, and ask your agent to evaluate if it’s necessary to update your insurance program.  

What qualifies you for a preferred policy? 

Your agent knows which insurers offer a policy that is appropriate for you. You might be a candidate for a carrier’s preferred policies if you:

• take pride in your possessions and maintain them at a high level
• understand the need for increased home and auto liability limits and appreciate the benefits of personal umbrella policies
• recognize the purpose of insurance is to protect you from situations that result in significant financial distress, and are comfortable accepting a portion of the liability through a higher deductible
• understand the importance of being properly insured at all times and have never had a lapse in coverage 

By Cincinnati Insurance

The homeowner’s to-do list: Here’s where to start

Time to get your property in shape after winter.

Now that the seasons have turned, it’s time to assess how your property weathered the winter. This is a good time to make a “to-do” list to prevent property maintenance and liability issues.

Starting from the top:

Roof – Have a roofer check for lifting, curling or missing shingles, or shingles that have suffered granular loss. Remove any debris or built-up moss that can reduce your roof’s life expectancy. Clean gutters of any leaves or debris.

Siding and gutters – Repair any damaged or loose siding; replace any damaged gutters and fascia.

Exterior paint – Warm weather is also a great opportunity to paint siding or doors on your home or garage. A fresh coat of paint can help protect your home’s exterior from the elements.

Windows – Replace and reglaze any windows that may have been broken or lost their seal over the cold winter months. These repairs can also help keep air conditioning costs lower in warm months. Check caulking around windows, basement window wells and other areas where water may seep in.

Railings – Inspect all handrails and porch rails; make sure they’re securely fastened to prevent falls.

Sidewalks and driveways – Since outdoor activities rise with the thermometer, repair any sidewalk or driveway cracks or shifted cement to reduce the chance a guest could trip or fall.

Outdoor lighting – Replace burnt-out bulbs in your outdoor lighting so that porches, steps and walkways have adequate lighting.

Play equipment – Before turning your children loose in the yard, check play equipment for sturdiness and mend gaps in fences. Cold temperatures and precipitation can take a larger toll than expected on these items.

Other equipment – Have your air conditioning serviced before the cooling season, and clean out your clothes dryer vent to prevent a common fire hazard. Replace worn caulking around faucets, and inspect pipes to make sure everything is in working order. Check batteries in your smoke and carbon monoxide alarms and in your sump pump.

A safe home makes for a happy homeowner….and an enjoyable spring!

Submitted by Laura Lewis

Booming beverage industry has special insurance needs

The Colorado craft brewing industry alone grew
$126 million from 2012 to 2013

The craft beverage industry is booming. Breweries and wineries operate in all 50 states, and the number of distilleries has more than doubled since 2011.

Growth stems primarily from states welcoming breweries, brewpubs, wineries and distilleries – granting new licenses and drafting legislation to ease excise taxes – and from the desire of consumers to buy locally.

Proprietors in the craft beverage industry have special insurance needs. If you’re the proprietor of a brewery, winery or distillery, you’ll be glad to know that insurers offer products designed to protect your enterprise. Speak to your local, independent insurance agent to explore the options.

Something for every palate…

Look for property coverages that address exposures common to the industry, such as:

• selling price and market value clauses
• tank collapse
• tank leakage
• contamination and adulteration of your product
• temperature change

Valuable liability coverages include:

• blanket additional insured status for vendors/distributors
• product recall expense
• liquor liability

A round for the house!

Make sure that the insurance you purchase is adequate to cover special events you may host or attend: from tours and tastings to festivals and weddings. Talk to us about insurers that provide loss control consultations to identify potential hazards and develop and implement procedures to  ensure visitor safety.

Submitted by Kevin Getz

Pure Risk Solutions specializes in the craft beverage industry, assuring industry-specific expertise, brewer-specific policies, and customized coverage to best protect your unique brewery. We customize an insurance program to serve the needs of your business, leaving you free to focus on what really matters: making and selling great beer

As fellow brewers and proud members of the Colorado Brewers Guild, Brewers Association, and Bar Owners Association, we know what it takes to protect the business you've worked so hard for.