News
Category: Risk Management
The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.
View All Posts
DOL Updates Regular Rate of Pay Rules
January 1, 2020
On Dec. 12, 2019, the U.S. Department of Labor (DOL) announced a new final rule clarifying how to calculate an employee’s regular wage rate under the Fair Labor Standards Act (FLSA). The regular rate is used to determine an employee’s overtime compensation, and guidelines related to this calculation haven’t been significantly updated in over 60…
Read MoreBenefits of Product Liability Insurance
December 22, 2019
Your customers expect you to have safe and reliable products, and failing to meet these expectations can lead to huge financial losses. If one of your products harms a customer in any way, they can sue your business, leading to costly legal fees and settlements. these costs can easily reach six figures. While you may…
Read MoreThe Importance of Certificates of Insurance
December 15, 2019
When accounting for risks related to contracted work, securing your own insurance is not always enough. It’s critical that your partners are covered as well. This is particularly important when you consider that, following an incident involving a contractor or vendor, your business could be the one held liable for any damages that occur. To…
Read MoreHoliday Online Shopping Top 10 Fraud Alert Tips
December 5, 2019
It's Holiday Season for the bad guys too! But not the way you might think. They go into scam-overdrive mode. While Black Friday and Cyber Monday are the busiest on-line shopping days, it doesn't stop there. The shopping continues right up until the last minute and the bad guys are planning to get rich with…
Read MoreManaging Reputational Risk
December 4, 2019
Financial loss can often be forecasted and mitigated, but if a business experiences an unfortunate event that negatively affects its reputation, the effects can be devastating and even lead to closure. Even if you do everything in your power to maintain your company’s reputation, at some point, a damaging mistake will occur. Therefore, you need…
Read MoreCyber Security Tips for Employees
November 14, 2019
Cyber safety isn’t just a job for your IT department or contractor. Cyber attacks and data breaches have become far more common and far more costly in recent years. Protect yourself and your organization by remembering these tips: Don’t go phishing—Phishing emails are often sent from an address that looks like it can be trusted…
Read More9 Cyber Risk Questions Every Board Should Ask
October 19, 2019
When a data breach or other cyber event occurs, the damages can be significant, often resulting in lawsuits, fines and serious financial losses. What’s more, cyber exposures impact businesses of all kinds, regardless of their size, area of focus, or status as a private or public entity. In order for organizations to truly protect themselves…
Read MoreBenefits of a Business Owners Policy (BOP)
October 18, 2019
As a business owner, there is no shortage of things that you need to manage on a daily basis. Whether it's supervising employees, connecting with new clients or anything in between, there is only so much time in the day. That being said, it's nice to have the peace of mind that you and your…
Read MorePreventing Slip, Trip, and Falls in Health Care
October 5, 2019
Slips, trips, and falls (STFs) are a significant hazard for health care workers that can result in serious injury. In fact, according to the U.S. Bureau of Labor Statistics, STFs are the second-leading cause of serious injury among hospital workers. There are a host of factors that lead to STFs in the health care industry…
Read MoreMobile Device Security
September 28, 2019
Gone are the days when the most sensitive information on an employee’s phone was the names and phone numbers of their contacts. Now, a smartphone or tablet can be used to gain access to anything, including emails, stored passwords and even proprietary company data. Depending on how your organization uses such devices, unauthorized access to…
Read More