In 2010, the National Fire Protection Association (NFPA) reported an estimated 16,800 home structure fires involving clothes dryers or washing machines. This resulted in 51 deaths, 380 injuries and $236 million in direct property damage. The leading cause of these fires involved clothes dryers (92%).

You’ve heard the commercials touting “name your price” for insurance or the promise of saving an average of 15% if you switch your policy. Sound tempting? What you don’t hear about is how the price or the savings is determined. Cutting costs usually involves cutting coverage or reading the fine print in what’s not covered. It is better to consider your “total cost of risk”. This means that saving $200 on your auto policy per year may sound like a good financial decision, but if your liability limits are not adequate, it could cost you thousands or hundreds of thousands on a claim that exceeds your coverage limits. The “cost” to you is not just an insurance premium or rate. Your future wages can be garnished or you may have to liquidate assets like selling your home just to pay for the settlement.

Now, the $200/year in extra premium is looking like a great value!

It seems as if every week there is a new commercial for the “Next Best Thing” in mobile devices.

Lightest Phone in the Universe!

Last year, US congress passed the Biggert-Waters Act, calling on the Federal Emergency Management Agency (FEMA) and other agencies to make a number of changes to the way the current National Flood Insurance Plan operates. The act, which is commonly known as the Flood Insurance Reform Act, obliges insurance providers to amend rates to reflect true flood risk, thus making the program more financially stable.

Most large organizations provide health and safety training, but first aid and CPR is often overlooked. The Occupational Safety and Health Administration (OSHA) states: “In the absence of an infirmary, clinic, or hospital in near proximity to the workplace which is used for the treatment of all injured employees, a person or persons shall be adequately trained to render first aid. Adequate first aid supplies shall be readily available.” This applies to any industry of any size: construction or general, large or small.

Workers’ Compensation Reform achieved a huge victory earlier this summer with the signing into law of HB 1320, an act that the American Insurance Association feels ‘addresses problems which have been steadily mounting in Indiana for years.’

Indiana Governor Mike Pence penned the legislation which, effective of July 1, ensures a fee schedule with a maximum reimbursement rate of 200% of the Medicare rate for treatments and procedures to workers’ compensation claimants by medical service providers. While those are the provisions of the new legislation in a nutshell, there are plenty of other considerations Businesses need to be aware of, particularly considering the imminent arrival of Health Care Reform.

What Exactly Is Workers Compensation?