It’s less expensive than you think….

Life hint #31

Life insurance is less expensive than most people think. Visit Scott Lynch Agency for more information.

#lifehappens

Recorded Webinars: Laws That Business Owner Should Know

by Carolyn Sennett on June 2, 2016

Employee terminations and payroll record keeping are just two examples of routine business matters that if not handled properly could quickly spiral into a serious problem for business owners.

Employee termination checklist

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The law presumes that employees are employed at will. That means an at-will employee may be fired at any time, for any reason (except for a few illegal reasons). But even when termination decisions are made with good cause, there are hundreds of potential grievances that could be filed by former employees. The defensibility of those claims is often dependent on the actions that employers take before the decision to terminate an employee is made or shared.

Watch a 20-minute webinar that guides employers in how to better manage the process before decisions are made so they can take steps now to mitigate those risks.

Overview of federal wage and hour laws

PrefireChecklist

Federal wage and hour claims under the Fair Labor Standards Act (“FLSA”) continue to rise nationwide. Simple errors in payroll or recorded hours worked, while seemingly insignificant on a per employee basis, can lead to significant exposure under the FLSA due to the collective action nature of these litigations.

Watch a 20-minute webinar that guides employers in avoiding common errors and mitigating risks.

The videos were provided under an arrangement with The Hartford Steam Boiler Inspection and Insurance Company. Contact a local Erie Insurance agent to learn more about affordable ways to protect your business.

Ask ERIE: What’s the Difference Between a Certificate of Insurance and an Additional Insured?

by Amanda Prischak on March 22, 2017

You typically come across these issues when you’re talking about business insurance. It’s easy to get them confused.

The key difference between a certificate of insurance and an additional insured comes down to whether you have coverage under someone else’s insurance policy. This only applies if you’re named as an additional insured on a policy.

What’s an additional insured?

When you’re named an additional insured on a policy, you are typically insured for covered claims arising from the Named Insured’s negligence (or your joint negligence) with regard to the premises, project and equipment that’s described in the additional insured endorsement. This commonly will include defense costs should you need to hire an attorney if the claim falls within the terms of the additional insured endorsement.

Businesses typically request to be named as an additional insured on a policy if another business’s negligence could affect them. Two examples could include:

  • A general contractor hires a subcontractor to help with a project. The subcontractor does negligent work, which leads someone to get injured and file a lawsuit against both the general contractor and the subcontractor. By being named an additional insured on the subcontractor’s policy, the general contractor  may obtain coverage under the subcontractor’s policy within the policy’s limits.
  • A wholesaler-distributor distributes products manufactured by another company. A product injures someone, and the injured person files a lawsuit against the wholesaler-distributer and the manufacturer. By being named an additional insured on the manufacturer’s policy, the wholesaler-distributer may obtain coverage under the manufacturer’s policy within the policy’s limits.

A business is usually added as an additional insured via an endorsement to a business insurance policy. Many contracts spell out who should be named as an additional insured on a business’ policy.

There are two ways most policies treat additional insureds: on a specific basis and on a blanket basis. A specific basis is just that—a specific person or business is named as an additional insured on a policy.

Meanwhile, a blanket basis covers anyone who meets the definition of “additional insured” as it’s spelled out in the policy. The policy typically names broad types of parties like “contractors” or “landlords.”

What is a certificate of insurance?

A certificate of insurance is a document that shows that insurance coverage is in effect. It shows the dates of coverage, the limits, and the line of business that’s covered.

The certificate shows that a policy is in force—but that doesn’t mean the person or business requesting it is covered as well. As a certificate holder, you are only receiving proof that the insurance policy exists; the certificate of insurance is not an insurance policy and does not provide coverage or serve to amend or alter the terms of an insurance policy.

A certificate of insurance is usually requested by one party in an agreement, contract or transaction to make sure another party has the appropriate insurance coverage. A certificate of insurance does not entitle you to rights as an additional insured. For example, you aren’t provided any coverage under the other party’s policy in the event of a loss, unless the policy has been endorsed to provide coverage. For that reason, the best way to verify that you have been added to a policy as an additional insured is to request proof that the additional insured endorsement has been added to the  insurance policy. If the policy has been endorsed with the additional insured form, the certificate will often include the form number and specific information about the endorsement that reflects what has been added to the policy. Proof may therefore be a certificate with this information listed or an actual copy of the declarations showing the endorsement.

As you can see, additional insureds and certificates of insurance can be pretty tricky. And not having the right information can put you (as well as your business) at financial risk. That’s why it’s so important to have an insurance professional like an Erie Insurance agent in your corner. An Erie Insurance agent in your community can help you make sense of these issues and more.

 

Restaurant Program

Why ERIE for Restaurants? Right Coverage, Right Price. Call us at (317) 420-2867 to discuss how we can help your business or visit us on line at Scott Lynch Agency.

Restaurant Collection

Electrical Contractors – Huge savings!

Erie Insurance has just announced a massive rate decrease for our Electrical Contractors in the Erie Insurance Ultraflex class of Electrical contractors …. call us to see how we can help your business at (317) 420-2867 or visit our Agency on line at: Scott Lynch Agency.

Electrical Contractor

6 Free Apps for Business Owners

by Amanda Prischak on April 4, 2017

Payroll, taxes, operations—there are lots of details to stay on top of when you run your own business.

Fortunately, today’s evolving technology makes it easier than ever to be organized. And small business owners rely on it: A survey conducted by the National Small Business Association revealed that 70 percent of small business owners said that technology is key to their success. 

Of course, more complex technology solutions can cost quite a bit. But many others charge only a modest fee—or are even free. That’s the case with the six phone apps below. They can help you get the job done at no extra cost. Read on to see how.

The app: Google Keep

Best for: Creating lists

What it does: When you need to offload an idea for later use, this is the app you’ll want to use. Google Keep lets you create notes and lists, set reminders, loop in a “collaborator” and more. Even better, it automatically syncs to your devices. 

The app: Wave

Best for: Staying on top of accounting

What it does: Whether you want to create and send an invoice, scan a receipt or create an accounting report, Wave has you covered. The free version offers a surprising number of services—and more complicated functions like paying employees are available for a fee.

The app: Send Anywhere

Best for: Sending large files

What it does: Few things are more frustrating than being unable to send a file to someone because the size is too large to email. That’s when Send Anywhere can come to your rescue. It gives the recipient a six-digit code to download virtually any size file you send.

The app: Buffer

Best for: Managing your social media presence

What it does: Social media can give your business a big boost. But managing multiple accounts can be time consuming. Enter Buffer, which lets you post to the five most popular networks at scheduled times throughout the day. The app also gives you analytics reports so you can see which posts are performing the best.

The app: SignNow

Best for: Gathering signatures

What it does: How does signing a document or getting someone’s signature with no need to mail, fax or scan anything sound? SignNow makes that possible with just one simple finger stroke serving as your signature. The free version gives you five signatures a month—after that, it’s just $6.99 a month for the service.

The app: FocusZen

Best for: Gaining concentration

What it does: Feeling distracted? If so, plug into FocusZen’s specially created audio tracks to help you concentrate. There are a variety of tracks to fit whatever task you’re working on as well as a variety of time increments.

Erie Insurance does not endorse the apps described above. Please do your own investigation and make up your own mind whether any of these apps is right for you.  

 

Original Article

Be a Boy Scout

If you were ever a Boy Scout as a kid, you know how important it is to be prepared. Prepared for what? For anything that life throws at you. It’s true when you’re camping in the woods, and even more true when you’re running a business.

 

We really hope that your business is never affected by an earthquake , tornado, freak meteor from the sky or other natural disaster. But these things do happen, and an ounce of preparation before the unexpected can make picking up the pieces much easier.

 

  • Back up your data early and often at an offsite location. An external hard drive won’t help you if it is damaged or destroyed in a storm. Consider offsite data storage or storage in the cloud.
  • Make a comprehensive list of all of your equipment, furniture, and fixtures. It’s much easier to file your claim with a full list of your property. Pictures are even better!
  • Have a disaster preparedness plan. Do your employees know what to do and where to go in case of an emergency? What if you have customers in house when disaster strikes? Click here for more information on creating a plan, and make sure to store it both on and offsite. It’s estimated that 40 percent of businesses never reopen after a natural disaster. With a little planning and some help from an Erie property insurance policy, you’ll be back on your feet before you know it. Call us to talk about how you can protect your business at (317) 420-2867 or visit us online at Scott Lynch Agency.