For many employers, performance evaluations have become obsolete and for others they still exist, but only as a small part of a much grander process. Unfortunately, the annual performance evaluation by itself seldom provides any benefit, is often dreaded by managers and employees alike, and can be incredibly time consuming.
You take steps to protect your business from perils such as fire and theft. But how do you start to understand a risk that you cannot see and perhaps have never experienced?
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Our update for December highlights malware, data breaches, a bomb scare, and more.
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Know the essentials before deciding.
You might be tired of hearing about new cyber risks, especially around the holiday season with all of its other stressors, but now is the ideal time to protect your family as smart devices are a very popular type of holiday gift. Like any evolving technology, smart home tech is especially vulnerable to hackers. Do you own — or are you thinking about purchasing — any of the following popular devices?
Uninsured flood loss from Hurricane Florence is estimated to be between $13 billion and $18.5 billion. Why the large number? Flood damage is excluded on most homeowners policies, and most homeowners do not buy stand-alone flood insurance due to its high cost. While grants and loans from FEMA will help somewhat, much of the loss from Hurricane Florence will be borne by the property owners. Therefore, it’s critical to do all you can to minimize losses now while ensuring the safety of your family.
Being disaster ready is not limited to businesses. Individuals and families also need to plan ahead in order to be prepared when disaster strikes. How will you get everyone out of the house safely? How will you access important family records? How will you get back up on your feet and to return to work?
Whether you have a cabin by the lake, an apartment or other dwelling as a second home, you should consider a variety of factors when selecting the right coverage. The type of coverage will largely depend on the amount of time your home will be unoccupied, liability from renting the property, and its location.
The Insurance Research Council reports that one in seven drivers lacks coverage, which means an accident involving an uninsured driver could create a lot of trouble for you. If you’re in an accident with someone who has no insurance or not enough insurance, your only options are to look to your insurer — or to your wallet.
Ordinary homeowners policies don’t protect you when costs exceed the amount of coverage in your policy, potentially leaving you significantly underinsured after a total loss of your home or property. Families with more substantial homes and assets should look for insurance carriers that offer “guaranteed replacement” coverage, which pays the full cost of rebuilding your home and other structures on your property after a covered total loss — even if that amount exceeds your policy limit.
When the ability of your employees to protect themselves from personal liability is insufficient with personal umbrella insurance (see our article on this type of coverage), you can provide significant value to them and protection for your company by offering group personal excess liability coverage. And as you’ve probably heard, an increasing number of individuals are at greater risk for multi-million dollar lawsuits in our litigious society.
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