Author: pedro

HAVING A STRATEGY WHEN PURCHASING YOUR HOME, AUTO OR COMMERCIAL INSURANCE MAKES SENSE FOR YOUR FAMILY OR BUSINESS! THIS VIDEO EXPLAINS WHY.

 

When it comes to protecting and insuring churches, pastors and committees face many unique challenges.  Ornate Buildings, Children’s Ministries, Events and Fundraisers, Volunteers and Visitor and Specialized Ministries, are just a few of the items that must be addressed. In additional to these exposures, today’s world has opened risk that were never thought of or imagined more than 5 years ago.

How do you know what to look for?  The below questionnaire might give you an indication of the risk your congregation has addressed and those risk that might need further evaluation.

Loss Control Questionnaire

Shropshire is your strategic partner; our focus is on your success and the protection of the ministries of your church.

Workers compensation insurance has a higher “Controllability Factor” than other lines of coverage such as Property and Automobile insurance.

“Controllability factor” means that a large portion your workers compensation premium is directly tied to your church’s loss experience. It presents itself on your insurance policy in the form of you NCCI Experience Modifier (mod) and the scheduled credits your insurance carrier applies to your account.”

       

WE HAVE THE SOLUTION!

 

First, we analyze your current NCCI Experience Modifier and claim data. We will provide a report to you, please Click Here for an example of a Mod Analysis Report.

• Helps you understand what the NCCI Experience Modifier is, how your loss history affects the mod and how the mod impacts your bottom line
• Identify and analyze problem areas
• Develop targeted solutions to improve problem areas and reduce premium and claims costs
• Make the mod part of your total risk management strategy

Second, we can provide you with additional workers compensation quotes.

• We will utilize the information that we learn about your church to negotiate the most competitive premiums.
•  We have multiple carriers who, many times, offer dividends to their clients who have good claims history.

 

Shropshire Insurance is your strategic partner; our focus is on your success and protecting the profitability of your business. Contact us today to get started on evaluating your “controllability” factor.

When you think about what usually causes a business interruption, natural disasters such as fires, earthquakes and floods probably come to mind first. These events can physically damage your property and equipment, making your workspace unusable for a time. While natural disasters are still the main reason for an interruption, another cause is quickly moving up the ranks: cyber attacks. As businesses continue to rely on computers and digital storage of essential data, cyber attacks will continue to be a potential exposure.

A common saying in the cyber security world is, “It’s not if you’ll be a victim of a data breach, but when.” How can you check that your business has minimal exposure? The below Cyber Risk Exposure Scorecard indicates your exposure levels.

Cyber Risk Exposure Scorecard

Remember traditional commercial general liability (CGL) policies will not cover business interruption, liability losses or criminal breaches due to a cyber event. Luckily, cyber liability coverages can fill that void.

Contact The Shropshire Agency today so we can help protect your business from the financial impact of a cyber breach.

Water damage from leaking appliances, such as a hot water heater, is one of the most common insurance claims. The water damage can damage multiple rooms in your home creating a huge mess and high dollar claim which can then lead to higher insurance premiums. Thankfully, there is a simple solution that could save you time and thousands of dollars in unexpected costs.

By installing water sensors near common water sources (i.e.: dishwasher, sinks, hot water tank) in your house can be a big money saver in the long run.

A water sensor is a self detecting alarm that alerts you when there is a water leak. Many home security systems are also connected to these alarms being able to alert you via text when you are away. Another bonus is that some insurance carriers give discounts for installing water sensors.

Do you already have water sensor installed? Call us so we can make sure you are getting the best coverage and price for you

EVERY business needs a Cyber Insurance Policy —- Hiring IT company support, having virus protection software, firewalls, and multi-factor authentication are all excellent strategies in preventing a cyber breach.  However, none can guarantee 100% protection.

 

The landscape of business exposure has changed dramatically in the last few years and unfortunately, we can’t seem to escape these words (hacking, phishing, cyber threat, and cyber-attack). You might think that cybercriminals are too busy targeting big corporations but you are wrong.   Over 43% of cyberattacks target small businesses.    Are you up to date on how these words affect you and your business?  Don’t be caught off guard -Schedule an appointment with Shropshire today, we’ll evaluate your risk and guide you in the management of your exposures to cybercrimes.

Cyber Crimes, Cyber Attack are terms we hear every day and unfortunately in today’s world EVERY business needs a Cyber Insurance Policy, yes that includes Your business —- Hiring IT company support, having virus protection software, firewalls, and multi-factor authentication are all excellent strategies in preventing a cyber breach.  However, none can guarantee 100% protection.

The landscape of business exposure has changed dramatically in the last few years and unfortunately, we can’t seem to escape these words (hacking, phishing, cyber threat, and cyber-attack). There are so many new terminologies when it comes to cybercrimes, thus leaving you without a clear understanding of these new exposures and the risk they bring to your business. Something that might come as a surprise to you, is that no cyber policy is the same.  There is no standard form policy regarding cyber.  Here are five areas of coverage that you need to look for on any cyber policy:

• Breach Cost
• Business Interruption
• Loss of income
• Cyber Liability
• Website Liability

Are you up to date on how these words affect you and your business?  Don’t be caught off guard. Our agency has a new 5-week series called

5 Misconceptions About Cyber Insurance. The topics covered will include several top questions we receive from clients regarding cyber insurance.

Schedule an appointment with Shropshire today, we’ll evaluate your risk and guide you in the management of your exposures to cybercrimes.

EVERYONE NEEDS CYBER INSURANCE- INCLUDING YOU! THIS VIDEO EXPLAINS WHY.

 

HAVE A WRITTEN PLAN

Every business needs a written disaster plan. This plan must be unique to your business, your facility and your employees. The plan must address a variety of potential disasters such as but not limited to:

• Fire
• Tornado
• Loss of Utilities
• Loss of a Key Employee
• Active Shooter/Workplace Violence
• Loss of a Key Vendor or Supplier
• Other situations that are particular to your business. We will help you uncover these.

The plan should go beyond just the identification of the potential threats to a business. It should address, in detail, the response the business and employees will take should the situation occurs.

HAVE A DISASTER PLANNING TEAM

Your team needs input and participation from all levels of the organization from upper management to the facilities staff. One of the biggest mistake an organization can make is to have only management involved in the formulation of a disaster plan. A diversified employee team will do a better job in creating an effective disaster plan that actually works and will create better “buy in” throughout the organization.

TRAIN, TRAIN, TRAIN

Continually train your supervisors and employees. Success will depend on the readiness of your organization to response adequately to threats. Once training or “test runs” are completed, obtain feedback from employees and supervisor, find out what worked and what didn’t.

REGULAR REVIEW OF PLAN

Developing a plan and putting on the shelf will not cut it. Your disaster plan is a living document. It needs to be constantly updated as your company’s operations change and as the threats change. Ten years ago, the thought of having “active shooter” training seemed excessive, now it should be required.

REVIEW INSURANCE

Ultimately, insurance is really just a funding mechanism for responding to disasters, whether it is a fire, tornado, violent act, a liability claim or a car accident. It all boils down to the question, who pays for the damages and the expenses that are incurred. Does the business pay for it or is the risk transferred to an insurance policy. It is important to note that a good insurance program can offer funding that helps pay for some elements of a disaster plan.