Straight From The Source Blog by Higginbotham Insurance

It’s one of the worst nightmare scenarios for any business owner. After pouring your sweat, soul and financial resources into building a successful business, a devastating event comes along and forces you to close your doors. It could be a fire, natural disaster, equipment failure or any one of numerous other scenarios. And, it could result in a temporary shutdown – or a permanent business failure. 

Dealing with contracts and insurance requirements can be tricky business. Things can get especially dicey when dealing with contractual liability exclusions, additional insureds, “insured contracts” and other intricacies of the contract process.

Are Your Participants Experiencing a Fee Imbalance?

Liquor is big business – but it can also be a big liability. According to The Drinks Business, U.S. alcohol sales reached $253.8 billion in 2018. At the same time, alcohol is associated with health problems, drunk driving and other serious risks – and businesses that sell alcohol may be held liable.

DOL Publishes Additional COVID Guidance; IRS Issues Guidance on FFCRA Leave and W-2 Reporting

The U.S. Department of Labor’s Wage and Hour Division (WHD) has published additional guidance to provide information to workers and employers about how the requirements and protections of the Fair Labor Standards Act (FLSA), the Family and Medical Leave Act (FMLA) and the Families First Coronavirus Response Act (FFCRA) impact the workplace as America continues to reopen. The new guidance provides plain-language questions and answers addressing critical issues under all three laws.

Telecommuting may be the new normal. According to Business Insider, a study from IBM found that 54 percent of workers want to continue working remotely on a full-time basis after the pandemic.

There’s no question that eventually, a disaster will strike your business. The real question is whether you’ll be prepared. According to FEMA, 40 to 60 percent of small businesses never reopen after a disaster. Don’t be part of this statistic. Take the following four steps now to make sure you’re prepared for potential disasters and to manage whatever crises develop in the aftermath.

DOL Launches Employee Tool for Assessing FFCRA Leave Eligibility

The U.S. Department of Labor (DOL) has created an online tool to help workers determine whether they qualify for paid sick leave or expanded family and medical leave under the Families First Coronavirus Response Act (FFCRA).

Most companies are aware of their ransomware and data breach exposures and the urgent need for cyber liability insurance. However, there are other exposures that exploit human weaknesses. Worse yet, losses caused by employee mistakes may not be covered by standard policies. That’s why your business may want to consider social engineering coverage.