Risk Management Advice

Each fall I teach a class on small biz management at a local community college.  We just finished a unit on risk management.  Here are some of the suggestions I made...--Backup your computer data up every night - off site. --Hire employees slow.  Fire them fast. - Good people a gold.  Deadwood will kill  your company. --Run background checks on … [Read more...]

Do You Have A Black Book?

A family friend died a few weeks ago.  He had been sick for some time.  After he died, his wife found his black book.No, not that kind of black book.He had a notebook with all his Internet login names and passwords for all the sites he visited.  It made it much easier for his wife to access credit card accounts, savings, Internet banking, … [Read more...]

Password Risk Management

Google has some good advice on passwords.http://gmailblog.blogspot.com/2009/10/choosing-smart-password.html … [Read more...]

Incident Reports Help With Risk Mangement

My Dad had eye surgery last week. After the operation, as he was resting, a nurse gave him a cup of coffee - well, she tried to.  She spilled it on him.After she was sure he was OK and she cleaned up the mess, she went to her work station to complete an incident report.How do you log unusual events in your company?While spilled coffee is not a big … [Read more...]

Certificate of Insurance Changes

The most commonly used certificate of insurance form is the ACORD 25 form. Several changes have been made this month, most of which are spelling, grammatical, or the addition of copyright notices.The biggest change is to the disclaimer on Page 2 of the form.The "old" language was: "The Certificate of Insurance on the reverse side of this form does … [Read more...]

Unclaimed Property Liabilities

What are your responsibilities regarding unclaimed property?-Uncashed payroll checks-Checks to vendors that are uncashed-Account receivable credit balances-Unused gift certificatesBusiness Finance Magazine recently summarized the major points of a book by Tracey Reid, Unclaimed Property: A Reporting Process and Audit Survival Guide (Wiley and … [Read more...]

Documentation Documentation Documentation

-What did you know?-When did you know it?-What did you do?-What did they do?Lawsuits involve disputes of fact. Many professional liability lawsuits and employment practices allegations involve the answers to the above four questions. Immediate written documentation of events is your best line of defense against allegations of wrongdoing.The rule … [Read more...]

You, Your Employees, ERISA, and Your House

(Earlier this year I wrote this article for a human resources publication. I never heard if they actually published the piece. I looked on their website and couldn't find it. Waste not, want not.)I assume, like most HR professionals, you have something to do with your company's employee benefit plan. Further, I assume you are human and … [Read more...]

Certificates of Insurance – Worthless Paper?

A certificate of insurance is, perhaps, the most misunderstood document in the insurance world – even more misunderstood than the insurance policy the certificates are designed to represent! The certificate of insurance… …does not prove amounts of coverage available …does not indicate the coverage in the policy …does not prove policy … [Read more...]

Preventing Employee Theft

There are four parts to employee theft prevention: -Hire only honest people -Create an environment that doesn't tolerate dishonesty -Build systems that enable detection -Buy employee dishonesty insurance The first seems silly. However, most embezzlers have some history of dishonesty. Criminal background checks, drug testing, and resume/reference … [Read more...]