It Will Never Happen To Your Business

Every 5 minutes a business in the US has a fire. 300 each day. Some are little fires. Some are devastating fires.Thousands of businesses are impacted by windstorms, water damage, lightning strikes, floods, and vandalism every year. Let's say 100 each day.That is one business hit by catastrophe every 3.5 minutes, every day, all year long. … [Read more...]

The Ex-CEO

This just submitted as an ad for the upcoming Super Bowl... … [Read more...]

Horrible Phone Call

The other day I got a horrible phone call. One of my clients is in the middle of a messy claim on their home insurance policy. My work for this client has been on his company.  I had offered to review his personal insurance.  He never took me up on that offer.  Now he is having a problem. I never want to get a call like this … [Read more...]

Shipping Lettuce by Rabbit

An insurance buyer emailed me last week saying that she had asked her insurance agent to provide an objective review of their insurance.I wrote back that she was asking the agent to judge his own work.That, my Dad used to say, is like shipping lettuce by rabbit.I think it was Warren Buffet who said, "Never ask your barber if you need a haircut." … [Read more...]

Increased Cost of Construction

"are the costs of betterments required by current building codes, as when glazed safety class must be used to replace standard sheet glass."From "Burnham's Insurance Dictionary" ( Used with permission.After the fire many business owners are surprised to learn that their insurance will only pay to replace the building that was … [Read more...]

Just Published, 20 Biggest Business Insurance Mistakes – 4th Edition

The fourth edition of my most popular white paper is now available. Thousands of copies have been downloaded and shared. I receive comments from all over the world on my ideas included here. Some of the info is similar to past editions. Some stuff is new. I have also added an insurance glossary and my article on how to read an insurance … [Read more...]

Mind Numbing Endorsements

Two years ago Business Insurance magazine published my letter to the editor commenting on the issue of prolific endorsements to insurance policies.For example, a 12 page policy with 30 pages of endorsements changing every aspect of the original contract.Read it here.No change. I recently received a liability policy where every page of the original … [Read more...]

Worker Fraud on the Uptick

The June issue of Best Review includes a brief piece on the observation by fraud examiners that worker fraud is increasing. The article admits that this may be a "chicken and egg thing" with the current economy - are people stealing because times are bad or are employers being more diligent in the bad economy looking for problems? In any … [Read more...]