Author Archives: Scott Wolff

Cyber Security – The Stark Reality

Post Image

It’s in the news every day. Just recently there was a report of a breach at the IRS.. You’d think that of all of the government entities holding personal information the IRS would be one to have an all but impenetrable and completely locked down system. In addition there is more and more media focusing […]

Continue Reading...

Business Insurance & Managing Risk: You Don’t Know What You Don’t Know

Post Image

What I do know is that it is hard to admit that you don’t know what you don’t know. Recently I gave a presentation at the 2015 Business Law & Corporate Counsel Symposium. The presentation was about business insurance and managing risk for businesses, the real message I wanted to leave my audience was that […]

Continue Reading...

Understand the Insurance Adjustment Process

Post Image

It is not unusual for the insurance company to compile values that disagree. These differences are resolved through Claim Adjusting, or if necessary through the Appraisal procedure, a simple, inexpensive form of arbitration. However, many recent changes in wording of some policies have included striking-down the Appraisal process and instead now require parties to go […]

Continue Reading...

8 Important Points When Presenting Your Loss & Claim

Post Image

In the previous post Proof of Loss: The proof is in the pudding, we shared the importance of knowing how the business insurance claims process works so you can get paid what you are due if you suffer a loss. These 8 points will help you navigate the claims process successfully. 1.  Familiarize yourself with lines 90 […]

Continue Reading...

Proof of Loss: The proof is in the pudding as they say

Post Image

From an insurance perspective it is important to know how you can recover when your business suffers a loss. Questions to consider when filing a business insurance claim: 1. Will your insurance coverage be adequate? 2. How do you go about getting a recovery? 3. What are your responsibilities in the process? Knowing how the […]

Continue Reading...

Cost of Risk & The Price of Your Risk Management Program

Post Image

Every facet of your organization affects your cost of risk. It is difficult, at best, to quantify all aspects of this total cost of risk. For example, if you manufacture specialty equipment or products and you are faced with a recall, what is your loss of reputation or market share? In contrast, other components of […]

Continue Reading...

Experience Modification: 5 Steps to Control Your Own Destiny

Post Image

Many times when a client engages us to become their Outsourced Risk Manager, in the interview stage we often discover that their workman’s compensation costs are high relative to the employee population and work functions. Typically we discover that the experience modification factor is high (which is commonly referred to as a “debit mod”, over […]

Continue Reading...

Risk Tip: Pay more attention to loss control

Post Image

Being proactive means savings in the long run. Comment: Risk management is all about reducing and mitigating the exposure to risk which in turn reduces costs. Unfortunately we see many companies who do not focus on loss control measures until it is too late. An employee is injured, a fire occurs, an invitee trips and […]

Continue Reading...

End of Year Risk Tip: Review Contracts Up For Renewal

Post Image

As we move into a new year…a number of business related contracts come up for renewal. With that in mind, we suggest that you spend the time to review, in detail, your contracts such as leases, purchase agreements and services contracts. Comment: Many times contracts are signed without a proper review and understanding of the […]

Continue Reading...

Awareness: An Important Step To Protecting Your Business

Post Image

No matter what your business is it is important to keep yourself, employees and those working (inside and outside) your organization informed of safety issues. We had a client come to us for help with a very large residential portfolio. Most of the buildings were located in New York and were garden style brick apartments. […]

Continue Reading...