Tag: Business Insurance

  • Why Cyber Insurance Is Essential for Small Businesses

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    When small business owners think about cyberattacks, they picture major corporations like Target or Equifax making headlines. However, in reality, small businesses are increasingly targeted by cybercrime and often experience devastating financial consequences. Even among those businesses that are aware of today’s cyber risks, 64% believe their operation is too small to be an attractive…

  • Use of Shared Risk and Negotiated Risk Agreements in Senior Living

    Use of Shared Risk and Negotiated Risk Agreements in Senior Living

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    Summary Balancing resident independence with safety is a key concern in senior living communities. Shared and negotiated risk agreements have emerged as valuable tools to empower residents to make informed choices about their independence while ensuring appropriate safety measures are in place. However, the effectiveness of these agreements depends not only on their initial implementation…

  • Taking More Risk: How Growing Companies Optimize Insurance Costs

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    Summary As businesses grow, their needs for and opportunities with commercial insurance purchases change. Often the growth leads a firm to take more risk over time. As with other forms of capital, insurance capital affects both risk and reward: there may be an opportunity for cost savings, but that opportunity comes with greater risk. This…

  • How to Leverage Telematics Gamification to Drive Meaningful Results

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    Vehicle telematics systems have advanced significantly since their debut nearly 40 years ago. Advances in technology, such as improved GPS accuracy, expanded wireless coverage, and faster wireless data speeds have turned telematics into powerful management tools. The availability of telematics also expanded significantly due, in part, to the 2017 Federal Motor Carrier Safety Administration’s Electronic…

  • Sustainable Business: Business Interruption Insurance and Continuity

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    Is your business in it for the long haul? With the rising threat of business interruption, continuity planning is vital for countering the effects of crises events. In this webinar we will explore business continuity plans and business interruption insurance alongside actual claim and disaster events. We will review critical steps to implement a business…

  • Solar and Wireless

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    Business Issue A business owner in the solar and wireless industry was looking for an insurance broker that could put them in a better position to bid on more jobs. Due to a higher than average number of claims, they were occasionally prevented from doing so. After meeting with a McGriff team, the business owner…

  • Senior Living Nonprofit

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    Business Issue A non-profit association comprised of multiple senior living organizations was looking to move away from their current Workers’ Compensation and Professional Liability Insurance Group Buying Plan to a Risk Sharing Plan. This program was appealing because of the reductions in insurance premiums, however their particular state was very litigious and claims could become…

  • Trucking Company

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    Business Issue A longtime, very large McGriff client in the trucking industry was concerned about their unacceptable “unsafe driving” DOT Basic score. Over several years the score was gradually worsening to reach the current critical state. Of equal concern was the knowledge that their current insurance carrier would no longer be offering coverage for transportation…

  • Recreation Club

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    Business Issue A recreation club was facing a $100,000 lawsuit after one of its directors hired an employee from a neighboring club. The previous employer sued the club claiming a non-compete contract was violated when they hired the employee. Our client’s legal counsel filed a response to protect the suit from default. After some delay,…

  • Recycling Business

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    Business Issue A McGriff client in the recycling business had grown to 17 locations in 14 states through various acquisitions. While the exponential growth was exciting, it also presented significant challenges developing and implementing consistent safety practices and standards. In addition, due to the nature of their business, claims management and establishing return to work…