What you need to know about workers compensation insurance

44315690_MAccidents can happen anywhere. That’s why it’s crucial that business owners everywhere take workers compensation insurance seriously and understand that it’s a crucial part of your business foundation and not just a nice-to-have benefit or an unnecessary perk. Here are some of the most important things to know about workers compensation insurance.

Injuries happen more often than you think.

You don’t have to work in a hazardous job to be at risk for work injuries. If an employee slips on a freshly washed office floor, you could be on the hook for their injuries. Even if the employee was partially responsible for the injury, they can often still receive employee compensation.

Workers compensation covers more than medical bills.

Workers compensation can cover injuries, loss of limbs and chronic illness caused by a work environment; medical treatment for work related illness, injury or ailment; rehabilitation; lost wages and more. It’s important to understand what workers compensation covers so you can get the right policy for your business and protect both your business assets and reputation.

You can reduce workers compensation claims by providing safety training.

It’s important to use preventative tools to help minimize risk in the workplace. Scheduling training for new employees and ongoing safety meetings for all employees is a good first step, no matter how small your business is. You should also regularly inspect the work environment and equipment to ensure it doesn’t pose any hazards to your staff. Displaying safety reminders and tips can also be helpful.

State requirements vary.

But no matter what kind of business you run, you still need basic workers compensation coverage. Georgia employees are covered from their first day on the job. You can find out more on what Georgia law says about workers compensation here.

No matter what industry your business is in, if you have any employees, you and your business are protected by having workers comp coverage. Navigating the ins and outs of coverage can be tricky, and Accurate Protection is here to help. We’re insurance experts, so we can help you walk through setting up the coverage you need. If you’ve got questions or want to get a proposal, get in touch today. We’re here to help.

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The importance of planning for businesses

When you hear the words “business plan,” you probably immediately think about mission statements, corporate goals, sales quotas and marketing KPIs. While these are all invaluable in terms of pieces of the business to plan for to ensure success and continuity, there are businesses that fail to plan in crucial areas. Namely, emergency and contingency planning.

No matter the size or age of your business, here are some of the most important questions to ask to ensure that there are no gaps in your planning.90443453_M

  1. Do you know what your insurance covers? Many businesses will hire a firm to ensure that they have the minimum insurance in place to legally do business or instruct them to find a plan that will keep them under budget. Insurance is one area you don’t want to scale back your budget for. While it may seem like a lot to spend on a service you hope to never need, if you need it and don’t have it, could your business survive it? Assess your coverage amounts regularly and make sure they still match the size of your staff and the size of your sales growth.
  2. Do you have an emergency plan in place? Hopefully you have all the appropriate liability insurance and property insurance, as well as worker’s compensation plans, but do you conduct regular safety meetings? Cybersecurity procedures and training? Fire drills? CPR training? These aren’t traditionally thought of as part of the business plan, but they are a crucial part of having a well-prepared business. Understanding how these areas can affect your business can help you organize and plan for a more secure future.

Our services can help you plan for and even potentially prevent just about any threat. We can protect your assets and your business, plus help you and your employees understand the importance of planning beyond quarterly goals for the health and success of your business long-term.

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The value of value-added services

Our business is protecting your business. We have the expertise to ensure the personal and professional assets that are most precious to you, from home to life to business, are protected. This54035079 - dictionary definition of value-added. protection allows you to know that the investments you’ve made in life are solid and that your hard work can pay off into the future.

We also know that risk management doesn’t stop at insurance. Just like cars have insurance against damage in an accident, they’re also available with warranties to provide protection against breakdowns or mechanical failures, plus built-in features to protect against theft. These additional services and features add value to the whole package, helping keep you on the road for longer. Similarly, we offer several value-added services that protect you from the risks that insurance might miss. Here are some to consider:

  • Safety Programs: A safe workplace is a successful workplace, and safety is everyone’s responsibility. The best businesses know that they have to make safety training a priority, and our safety program service allows you to customize safety materials that can create a safer, healthier workplace that benefits everyone.
  • OSHA Compliance: OSHA’s standards and practices can change quickly, and our compliance services help you stay on top of the must-know information to be able to prepare for and pass OSHA inspections successfully to help keep your business running with no downtime.
  • Fraud Protection: We can help you learn what policies and procedures your business needs to protect itself from fraud and walk you through the process every step of the way.
  • Communication and Connection: We offer access to extensive business databases that can help you understand and mitigate risks, shape policy and strategy, and communicate to employees with newsletters, posters and more.

As your partner in business, this is just a handful of additional ways we can help your organization beyond insurance solutions. See our other risk management solutions and value-added services here.

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Why business owners shouldn’t overlook flood insurance

19698951_SIf you own a business, you likely have all your basic risks covered with your commercial insurance program. However, you may be overlooking one very important coverage—flood insurance. As the business owners who faced Hurricane Sandy can tell you, business property coverage does not cover damage resulting from rising flood waters after a hurricane. Without a flood policy, you could face losing any equipment or property damaged by the flood waters. Coming up with the money to replace everything you’ve lost could be difficult, if not impossible.

Luckily, it’s not difficult to buy a flood insurance policy for your business. Flood insurance is regulated by the Federal Emergency Management Agency (FEMA) and is administered under the National Flood Insurance Program (NFIP).

A flood policy through the NFIP will protect your property if it is damaged from flood waters. To buy a commercial flood insurance policy, your business must be located in a community that participates in the National Flood Insurance Program. To find out if your community participates, you can look it up on FEMA’s National Flood Insurance Program Community Status Page.

One thing to remember when purchasing flood insurance for your business: There is typically a waiting period for coverage to take effect. This means you can’t just go buy a flood insurance policy if a hurricane is about to strike your community. You should have flood insurance in place well in advance of any potential natural disasters that could cause flood damage.

You can buy a commercial flood insurance policy from any agent or company that participates in the NFIP program. Don’t let a flood sink your business! We’ll be glad to discuss flood insurance with you and make sure your business is prepared to weather the storm. 404 907 2121

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Understanding your business, it’s what we do

63739509_MAs the owner of a business, it’s required by law that you have adequate insurance coverage for your assets and employees. Complying with all local, state and federal guidelines helps provide peace of mind and will ensure you avoid an audit or investigation should questions about your operation arise.

That being said, every business has different insurance needs, budgetary restrictions and more. This is especially true for businesses that are in unique spaces where finding insurance coverage is difficult.

At Accurate Protection, we’ve built our business around assisting business owners with unique insurance needs in a variety of industries. We aren’t your run-of-the-mill insurance company that offers a one-size-fits-all solution either. We know that insurance coverage isn’t always that cut-and-dry. That’s why we insist that all of our brokers understand our clients’ unique needs inside and out.

From your first meeting, and throughout all your interactions with us, you will see that we strive to go beyond the expected standard routine and deliver results that consistently exceed your expectations. Take action now and call us today. (404) 907-2121 x701

In addition to offering a variety of insurance options, we also:

  • Provide customized employee communications
  • Can help you implement a safety program
  • Offer you industry-specific safety manuals
  • Online OSHA reporting
  • And more!

Take the first step toward a safer, more protected business by getting in touch. We look forward to serving you!

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Should your small business outsource cyber security?

Did you know that 43 percent of cyber security attacks are targeted toward small businesses? As a small business owner, you are keenly aware of the increasing threat of cyber-attacks. These attacks do not just happen to large corporations. They can happen to even small mom and pop operations or mid-sized businesses. The worst thing you can do is nothing. The threat of a cyber-attack isn’t going to disappear. You have to have a strategy to stay ahead of the game when it comes to cyber security.

When you consider what you have to lose from a cyber-attack, the need to protect yourself becomes very real. Your clients’ personal and private data could be exposed, including Social Security numbers, banking info, personal health information and more. Theft of these could leave you open to potential lawsuits, which could devastate your business financially.

Most small business owners don’t have the assets to have their own IT departments, so another solution to consider is outsourcing cyber security to a third-party such as a managed cyber security service. A professional cyber security service has trained staff to recognize potential cyber threats before they occur and manage the risk to your company; monitoring systems that identity and block malicious websites; encryption for your company files to protect them from attack; and the ability to block undesired network traffic and more. Most cyber security services can also provide training to you and your staff to manage your cyber risk.

Ultimately, you will have to make the decision whether outsourcing cyber security services is the right decision for your business. Even if you decide not to do this, you can protect your business from the fall-out of a cyber attack by purchasing the appropriate insurance coverage. Contact us for a consultation. We’d love to help you protect your business from potential cyber criminals. https://accurateprotection.com/

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Protecting businesses is what we do best

32519161_SAs the owner of a business, it’s your responsibility to ensure your assets and employees are protected at all times. Without adequate insurance coverage, you run the risk of fines and penalties or, in a worst-case scenario, having to shut down altogether.

You’ve got enough on your plate as it is. Wouldn’t it be nice if you didn’t have to stress about insurance coverage, too? With Accurate Protection at your side, you can feel confident knowing that you’re protected even when the unexpected strikes.

Our services include an array of insurance offerings including:

Workers’ Compensation: We put you back in the drivers seat by giving you the knowledge needed to make informed decisions about the direction of your workers compensation program. We analyze your current experience rating worksheet and forecast your future mod so there are no surprises. We work with you to either develop or fine tune your return to work and safety programs.

Business Insurance: We can perform a thorough evaluation of your company and let you know whether or not your current insurance coverage is adequate. If we see areas that could use improvement, we’ll let you know immediately.

Commercial Auto Insurance: At Accurate Protection, we understand that your fleet of vehicles represents a significant investment in your business. We also know that your fleet represents a sizable proportion of the risk that your company faces. Our approach is to work closely with you to ensure we fully understand your business, your risk management strategies and loss history. We then work with you to reduce your risk, educate underwriters on your behalf and develop an insurance program that takes advantage of the risk reducing strategies that you have implemented.

Cyber Liability: We have the expertise to specifically tailor a policy that will accurately protect your businesses. We help you understand and demystify Cyber coverage.

Errors and Omissions Liability: E&O covers you for claims that arise from your negligent acts or your failure to provide the level of service or advice that was expected.

Employment Practices Liability: As a business owner you can be sued even if you have done nothing wrong. Common allegations that EPL insurance provides coverage for are: Wrongful termination, Discrimination, Harassment, Retaliation, Wrongful discipline, Wrongful failure to promote, Violation of the Family and Medical Leave Act and Wage and hour.

You may be satisfied with your current insurance broker. However, it can be easy to skim over a policy and assume the agent has covered all your bases. In reality, agents do make mistakes. Call us today to request a complimentary consultation at 404 907 2121 or e-mail areese@accprotect.com.

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A cyber threat you may never have heard of before

29639098_MCyber criminals are becoming more sophisticated in the ways they target business employees to gain access to financial records and accounts. CEO fraud is something you may not have heard of before but it should definitely be on your radar of potential cyber threats to your business.

Depending on how much time and effort the criminal spends in preparation, these attacks can be very sophisticated and catch many business owners, executives and other company employees off guard. CEO fraud involves the impersonation of a company executive to another employee by email or even sometimes through a text message to execute an unauthorized wire transfer of money or to send out confidential tax information.

Spoofing software allows cyber criminals to easily spoof a phone number and text a message that appears to come from an executive. When John in accounting receives a text from the CEO that appears to be legitimate and requests a wire transfer of funds, he is likely to comply without questioning the request. Cyber criminals are fully aware of this and this is why CEO fraud is one of their favorite tools of deception.

What can you do to stop CEO fraud? The first thing to do is let your employees know that CEO fraud exists and that no message will be sent by electronic communication or text message from any executive requesting money transfers or any sensitive financial information. If employees do receive such a request, they should report it immediately to a supervisor and never follow through with the request without a verbal confirmation from the executive.

Even with the most careful employee cyber security training, there is no guarantee that you won’t become a victim. Let us talk to you about how to protect your business with a cyber liability policy. https://accurateprotection.com/

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Safeguarding your business against employee fraud

49258230 - businessman putting money in his pocket - closeup shotEvery employer would like to think that none of his or her employees would commit fraud, but sadly, it does happen. Challenging personal situations in some families and increased employee access to company records through technology have contributed to a rise in employee theft and fraud.

Employee fraud can take many forms, including misappropriation of funds (such as forging checks); financial statement fraud (recording fake expenses and/or revenues) and other sorts of corruption such as accepting bribes in exchange for things like discounts to customers.

There are some warning signs to watch for:

  • Drug/alcohol abuse
  • Gambling problems
  • Working late hours after other employees have left
  • Sudden purchases of expensive items above salary level
  • Objections to inventory, audit or procedural changes

You can do your due diligence as an employer to minimize your risk of being a victim of employee fraud. Here are a few precautions you can take:

  • Screen new employees thoroughly, including a background check. Check all references and speak with previous employers.
  • Thoroughly review the company’s code of ethics with new hires, emphasizing you have zero tolerance of employee fraud.
  • Review your company’s financial records often and conduct inspections without giving notice to employees who handle financial transactions.
  • Encourage employees to report instances of employee fraud that they witness.

In addition to the above measures, a commercial crime insurance policy could help protect your business assets against employee theft. Such a policy could protect your business against cyber fraud, theft/robbery and other types of employee fraud by limiting your direct financial losses, paying for legal representation and reimbursing you for damage to reputation.

If you’re interested, we can review your needs and customize an insurance policy to fit those specific needs. Contact us to learn more. https://accurateprotection.com/

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Does your business have a disaster recovery plan?

41351867_M (2)How equipped is your business to deal with a disaster? Do you have a plan in place to resume your business operations? Disasters come in all shapes and forms, including natural disasters such as floods, earthquakes and tornadoes or those caused by humans, such as train derailments or acts of terrorism. Your business could suffer property damage, pollution damage, loss of data and loss of income, but if you have a plan in place, your business is more likely to survive.

Large companies have risk managers or consultants who handle disaster preparation and recovery, but if you are a small business owner, you may have to handle this task yourself. A disaster recovery plan outlines important procedures to protect your business after a disruption. When designing a disaster recovery plan, consider these important factors:

  • You should have an emergency notification system in place to notify employees of the disaster and if, when and where they should report to work.
  • If your business will be closed, you must notify employees, customers and suppliers how long you will be closed.
  • Notify all parties if you will be resuming operations at a temporary location.
  • Have backup suppliers in place if your primary suppliers are also affected by the disaster.
  • Have contact information for your insurance carrier and policy information on hand so you can report any claims promptly.
  • Compile a list of your most important contact names and telephone numbers (FEMA, local emergency agencies, financial institutions, contractors, suppliers, law enforcement, and more.)
  • Have a back-up power supply and communications system.

Before a disaster strikes, make sure you are aware what your business insurance covers. You may want to consider Business Interruption Insurance, which could help your business get through a disaster until you can resume normal operations. Have questions? We can answer them! https://accurateprotection.com/

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