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Don’t Rely on Luck to Get Through the Next Health Crisis

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Some people live by the credo, “I’d rather be lucky than good.” But as the Covid-19 pandemic taught us, it’s foolish to rely on luck alone to manage your business through a major health crisis. Complete and comprehensive preparation must take precedence.

Covid became a true turning point for many workplaces. The Human Resources function nDotow is expected to understand public health challenges swiftly and manage them efficiently. So, how to prepare? Here are four steps to success:

  1. Assess the Risk to the Organization
    Employers must remain updated on federal and local health guidance to help inform organizational strategies, while also considering questions like: Are employees at a heightened risk by being in the workplace during this crisis? What safety protocols will keep employees safe?
  2. Adapt Quickly
    Based on the risk assessment, employers must be prepared to adapt quickly, ensuring that safeguards in place don’t force employees to choose between their jobs and their health.
  3. Communicate Thoroughly
    At every stage, employers should keep employees in the loop. This means sharing the outcome of the risk assessment and clearly communicating any new workplace protocols. Employees should never have to wonder how their workplace is handling a crisis.
  4. Embrace Change
    During the early months of the pandemic, it took far too long for some businesses to adapt. Employers should be ready to make these decisions swiftly, and must embrace the changing landscape. This might mean having some employees work remotely while others remain in the workplace. Employers should think about such contingencies and be prepared to follow through if a public health crisis necessitates it.

Responding to the next health crisis will be much easier when you have planned and prepared ahead of time. Don’t leave it to luck. There’s too much at stake. Reach out to the Benefits team at Evergreen for more workplace guidance.

Copyright 2023 Evergreen Insurance

Evergreen Insurance provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

Personal Watercraft Coverage

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Boating season is right around the corner. While you’re shopping for a new boat or jetski, consider purchasing personal watercraft (PWC) coverage, too. It can help protect your wallet in the event of injury or damage involving your watercraft. Click on the image to download or print the information sheet.

Surge in Cyber Attacks Accelerates Need to Secure Coverage

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A sharp rise in the number and size of ransomware losses over the past three years is changing the availability and cost of cybersecurity insurance coverage, according to the Insurance Leadership Forum. Annual cyber liability rates have increased more than 40% in recent years, in fact.

Insurance providers are carefully managing the growing risk, with some scaling back coverage options for business customers and others continuing to make coverage widely available because the threat is both ever-present, growing and evolving rapidly.

Some insurers continue to make this coverage available to customers with whom they have a wider relationship. Certain insurers have elected to only write cyber liability for companies with less than $100 million in revenue to reduce the insurer’s exposure.

These factors combine to make the need for cybersecurity insurance more urgent than ever, and to secure adequate coverage at reasonable rates. Contact the professionals at Evergreen to learn more about available cybersecurity coverage that’s right for your business.

Copyright 2023 Evergreen Insurance

Evergreen Insurance provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

Head Protection

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March is Brain Injury Awareness Month. In manufacturing, transportation, and construction jobs, employees can suffer head trauma and severe damage. To prevent injury, make sure your employees are equipped with the correct form of head protection. Click on the image to download or print the safety sheet.

Creating a Cyber Incident Response Plan

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Cyber incidents cannot only create immediate harm to your business, but also damage your credibility and financial stability for some time after the incident. It is extremely important that your business has a cyber incident response plan prepared so you can mitigate loss. Click on the image to download or print the safety sheet.

Making a Disaster Worse: Insufficient Documentation When Filing a Claim

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Floods, fires, tornadoes. Business owners purchase insurance to protect their property and people against these types of disasters. But what happens when, should the worst occur, you can’t adequately prove what that property was worth, or the financial impact your people are suffering?

It may sound like the most obvious point in the world, but it’s important to have accurate values – and the documentation to prove them to an insurance adjuster. Some good news is that this is not so much an issue impacting your premiums, but it can become a major issue when filing a claim to recover your losses.

The Insurance Information Institute recommends the following:

— Collect any relevant business records that you will need to prove the value of damaged equipment, inventory or structures that you are including in your business insurance claim. Gather all financial documents including tax returns, monthly sales tax returns, business contracts, budgets, financial statements and other documents pertinent to calculating the projected income of your business. 

— If the business is forced to close down, you will need to provide information on the cost of conducting business from a temporary location, detailed records of business activity, and a list of expenses that have continued while your business has been suspended such as advertising, utilities, etc. Loss of or damage to cars, vans, trucks or specialty vehicles, which can hamper your ability to operate your business, should also be reported.

One of the smartest and easiest ways for a business owner to limit risk is to make sure you know – and can prove – what the various elements that make up your business are worth.

Contact the professionals at Evergreen to learn more about insured-to-value coverage for your enterprise.

Copyright 2023 Evergreen Insurance

Evergreen Insurance provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.

5 Tips for Combating Productivity Paranoia

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Since the pandemic, many businesses have allowed their workers to work remotely or hybrid. However, there is a disconnect between employers and employees on their productivity at home. Click on the image to download or print the tip sheet for steps employers can take to combat what is now known as “productivity paranoia”