SilverBlog

Wisdom from our industry experts and our SilverLink magazine.

 
 

Blog Tag: risk management

Hurricanes.
Cyber attacks.
Flash floods.
Mass power outages.
We live and work in a world where catastrophic events happen and businesses are forced to close down for days, weeks, months – sometimes longer. To avoid a massive loss that could permanently close your doors, you need a solid disaster recovery plan.

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Clients often ask us how they can lower their property and casualty insurance premiums. Some feel these costs are semi-fixed and out of their control. Many believe the best time to get lower premiums is during their annual renewal, but there’s more to it than shopping for a bargain price on insurance once a year. The best place to start is with a comprehensive business risk assessment.

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After college and four years in the Navy, I returned to Nelson Insurance Agency in 1965. The Firm my father and mother started in 1945 had grown  to 10 Associates. Those early years had been a struggle against established local competitors. My father’s  education as an attorney had given him a technical mind, and that, coupled with his dynamic personality, allowed him to find unique solutions to clients’ insurance needs.

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America’s aging population is growing at a rapid rate. There are roughly 56 million Americans over the age of 65, and that number is predicted to climb to 84 million in just three decades. As this demographic steadily grows, so will the need for senior care assistance.

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Looking to hire a new employee? An accurate job description serves as a great starting point to find and hire the right worker for an open position. But if you’re only using it for hiring, you might be missing out on some of the best applications for this useful resource.

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How do you typically start your work day? For most, checking e-mail is an early-morning ritual (sometimes before they even get out of bed). We are fortunate to work in a world of rapid, electronic communication. It helps us get the job done faster. While e-mail may provide us with a quick and easy way to communicate, it also provides cybercriminals with a quick and easy way to target unsuspecting victims.

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Summer has a distinct sound – hamburgers sizzling on grills, music playing at outdoor festivals and bats crashing into baseballs. You’ll also likely hear the crack of thunder, the howl of strong winds and the clink-clink-clink of hail (probably bouncing off your roof or car). Inclement summer weather is unavoidable in many areas of the country, and people are often left with a sinking feeling as they are forced to listen to their homes and automobiles weather a severe storm. If you’ve ever experienced this, your first thoughts were probably about the deductibles on your homeowners and auto insurance policies.

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The first half of 2017 was marked by significant loss – not only in dollars, but, more tragically, lives as well. Three tornado outbreaks ripped through various parts of the country, resulting in over $3 billion of damage. Parts of California experienced severe flooding after a massive rainfall that caused a $1 billion loss. Hurricanes Harvey, Irma and Maria triggered one of the most destructive hurricane seasons in history. Needless to say, 2017 has not been good to the insurance industry from a global perspective. The U.S. property and casualty industry has recorded a net underwriting loss of $5.1 billion for the first six months of 2017, compared to only $2 billion for the same period in 2016.¹

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From autonomous vehicles to smart refrigerators, technology seems to be transforming nearly every aspect of our lives. It’s playing a bigger role in almost everything we do, including how we source our food. The agriculture industry has experienced a significant tech boom and, as a result, produce is reaching consumers quicker, safer and more efficiently than ever before.

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High seas, salty air and sword fights. It may be hard to believe, but the first historical accounts of workers’ compensation are linked to pirates. As motivation to participate in this dangerous trade, they were often rewarded in gold if they sustained significant injuries. The bigger the sacrifice, the bigger the reward.

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