Straight From The Source Blog by Higginbotham Insurance

Election Year Investment Volatility

Diversity in the workplace is more than just a concept – it’s an essential element of your business model, capable of contributing to your success in a measurable way. Studies show that diverse teams outperform those that lack diversity. From a purely business standpoint, diversity should be an integral part of your HR strategy. But what does a diverse team look like, and how do you put one together? 

Strategic planning is an organizational process designed to define a company's overarching mission and vision, clearly identify measurable, actionable goals and implement control mechanisms to maximize the likelihood of achieving them. 

How much are your belongings worth? This is a question that will have to be answered if you ever need to file an insurance claim. Unfortunately, calculating the answer is not always easy.

Business insurance is one of the most integral parts of any modern organization. From natural disasters to job site injuries, theft and more, this crucial protection can spell the difference between success and failure. Most small business owners need business insurance because their personal assets are more closely aligned with their business assets.

Are you misclassifying your workers? There’s a big difference between 1099 contractors and employees. A classification mistake could result in expensive lawsuits and penalties.

Employee Benefit Plan Limits for 2021

Many employee benefits are subject to annual dollar limits that are periodically updated for inflation by the IRS. The following commonly offered employee benefits are subject to these limits:

• High deductible health plans (HDHPs) and health savings accounts (HSAs);
• Health flexible spending accounts (FSAs);
• 401(k) plans; and
• Transportation fringe benefit plans.

Is your commercial roof coverage as good as you think it is? Exclusions in commercial property insurance policies are becoming very common. Here’s what you need to know about roof limitation endorsements.

So, you're in the throes of a hiring campaign, conducting job interviews and looking at the wealth of suitable candidates. Many of them have excellent resumes, sound industry work experience and the right personality to fit with your team – and company culture. They've reached your shortlist, and now it's time to conduct background checks and make sure everything adds up. Where do you start?

Health care costs keep rising. According to Healthcare Dive, employers are expecting their health care costs to increase in 2021, but because of the uncertainties caused by the pandemic, the exact rate of increase is hard to pin down. Estimates range from as low as 2.4 percent to as high as 5.8 percent.