PIASC Insurance News

Partial Exemption for Employers with 10 or Fewer Employees

December 20, 2020 |

If your company had ten (10) or fewer employees at all times during the last calendar year, you do not need to keep Cal/OSHA injury and illness records unless OSHA or the BLS informs you in writing that you must keep records under the provisions of Section 14300.41 or Section 14300.42. However, all employers must…

Steps To Reduce Workplace Injuries

December 20, 2020 |

Injuries to employees can be devastating for businesses, especially small businesses with fewer employees available to take on new roles when an injured worker is on leave. While workers compensation insurance will help pay medical costs and replace an injured employee’s lost income, your business will have to absorb costs associated with reduced productivity, overtime,…

4 Ways to Lower Your Experience Modification Rate and Why it Matters

December 20, 2020 |

Losses are just one factor in your overall workers’ compensation costs. The other is premium. Many calculations are involved in setting the premium; it comes down to how much of a risk the carrier thinks it is taking by insuring your company. One of the biggest components of the premium calculation is the experience modification…

Which Employers Must Keep Records & Report

December 20, 2020 |

Many employers with more than 10 employees are required to keep a record of serious work-related injuries and illnesses. (Certain low-risk industries are exempted.)  Establishments classified in the following North American Industry Classification System (NAICS) are required to keep OSHA injury and illness records unless they meet the small employer exemption under 1904.1. Note that the…

How Cyber Insurance Protects You Before A Breach

December 7, 2020 |

Data hackers can cost businesses big money. Travelers, a leading provider of Cyber Insurance, suggests that it could cost somewhere in the neighborhood of $7 million if they suffer a breach. Since any company that accepts electronic payments is at risk, Cyber Insurance has become one of the most important types of insurance any business…

Protecting against #cyberfail: Small business and cyber insurance

December 7, 2020 |

While cyberattacks and data breaches at Fortune 500 companies tend to dominate the headlines, America’s more than 28 million small businesses and their 56 million employees are increasingly vulnerable. Their exposure is much the same as that of larger companies, experts say, but many may overlook or underestimate the threat and may not fully understand…

Cyberattacks can occur in many ways

December 7, 2020 |

Cyberattacks can occur in many ways, including: Accessing your personal computers, mobile phones, gaming systems and other internet and Bluetooth connected devices. Damaging your financial security, including identity theft. Blocking your access or deleting your personal information and accounts. Targeting children and adults. Complicating your employment, business services, transportation and power grid. Protect Yourself Against…

Auto Liability Coverage Contains Two Insuring Agreements

November 30, 2020 |

Any business that uses autos needs commercial auto liability insurance. This coverage protects the business against third-party claims that arise out of auto accidents. Claims from vehicle accidents can generate large damages awards against businesses. If a business lacks adequate liability insurance, it may not survive an auto-related lawsuit. A business may be liable for…

What Is Commercial Auto Insurance?

November 30, 2020 |

Commercial auto insurance helps cover the costs of an auto accident if you or an employee is at fault. This coverage can help pay for damaged property and medical expenses – even in the event of a fatal accident. Commercial auto insurance can help protect business owners and their companies if, for example: An employee…

Guide to Business Vehicle Insurance

November 30, 2020 |

What Is Business Vehicle Insurance? As a businessowner, you need some of the same insurance coverages for the cars, trucks, vans or other vehicles you use in your business as you do for vehicles used for personal travel. Your Businessowners Policy (BOP) does not provide any coverage for vehicles, so you must have a separate…