All posts by JAMA Insurance

Tips To Reduce Library Theft

Tips To Reduce Library Theft

Libraries are susceptible to theft. Some people may be tempted to hide a book in their backpack or briefcase and walk out the door. Thankfully, there are smart practices that libraries can adopt to discourage this practice.

Reduce the Risk of Library Theft

Preventing library theft is of utmost importance to your library and your community. The most important first step is to acquire library insurance. This insurance helps you recoup the losses involved in the theft. It not only protects the books and other materials, but it helps to maintain the good reputation you have established for the library as well. Mobile equipment, as well as employee wage coverage and donation coverage, can be included in the library insurance plan.

Beyond insurance coverage, it’s critical to establish an inventory control system. It’s very difficult to determine if and when a theft has occurred without knowing how many books are available in the library. All library materials should be clearly identified with proof of library ownership so that there is no room for error or confusion. The inventory should be conducted at assigned intervals. Depending on the size of the library, this could be done in one sitting or it could be conducted using a rotating schedule.

Keep your community library safe from theft by implementing sound practices.


Updated National Patient Safety Goals and Safety Measures

Updated National Patient Safety Goals and Safety Measures

Since 2003, a nonprofit organization known as the Joint Commission has set annual national patient safety goals. It created this program to make health care organizations aware of the best ways to keep patients safe as they receive treatment. After re-evaluating the previous year’s statement, they set the following goals and ways to achieve them.


The new goals did not change from 2020. The five goals listed on the document the commission created for the public are:

  • Identify patients correctly
  • Improve staff communication
  • Prevent infection
  • Identify patient safety risks
  • Prevent mistakes in surgery

Safety Measures

A number of safety measures were eliminated from the statement, presumably because they are already part of standard procedures. For example, making sure that patients get the correct blood during transfusions was not mentioned in the public document. They also eliminated suggestions to use proven guidelines to prevent hard-to-treat infections and those caused by the following:

  • Central lines
  • Surgery
  • Catheters

Focusing on national patient safety goals is a great way for a healthcare facility to create policies and procedures for training employees. Because the Joint Commission updates them each year, administrators can be sure they are using the most up-to-date information available in the field. In this way, they can minimize risks to patients and their families.


A Short Guide To Homeowners Coverage In Connecticut

A Short Guide To Homeowners Coverage In Connecticut

Whether you’re about to purchase a new home or you’ve already finished the long process of paying off your mortgage, chances are, you’ve wondered about home insurance. Your home is probably your most valuable asset and it makes sense to insure it in case something unexpectedly goes wrong. This is where homeowners coverage in CT comes in.

Why Do You Need Homeowner’s Insurance?

There are a number of reasons you should consider purchasing homeowner’s insurance. First, in many cases, homeowner’s insurance is required. Chances are, if you are working with a mortgage company, you will be required to have home insurance.

Your home also faces a number of risks that could cost you immense amounts of money. Things like flooding, fire, theft, vandalism, wind damage, and burst pipes happen all the time and it is important to be protected.

What Is Covered By Homeowner’s Insurance?

Homeowner’s insurance obviously helps protect the physical structure of your home. However, it also provides coverage for a number of other things in and around your home. There is dwelling coverage that applies to things like your deck or your garage.  Other structure coverage protects things like fences and sheds.

Your home plays a huge part in your life. Make sure you protect it and purchase homeowner’s insurance today.




Have Fun While Staying Protected: The Importance of Hospitality Insurance

Have Fun While Staying Protected: The Importance of Hospitality Insurance

Hospitality businesses can be very profitable, but if you own one of these businesses, you know that it has its own unique risks and challenges. Seeking out good hospitality insurance services as soon as possible will ensure that your business is able to continue to grow and focus on opportunities with less worry about risks.

Tailored to You

The hospitality business is not one-size-fits-all, and neither is your insurance. Your hospitality coverage can be tailored to your specific needs. You’ll work with a team of experts to decide what type of coverage is best for your business.

Coverage Under Hospitality Insurance

Hospitality insurance services cover many areas, such as:

Whether you need one or many types of coverage, you can be sure to find a program that works for you.

Insurance Team Expertise

When looking for coverage, be sure to find a team that is experienced in all areas related to your business. This includes things like underwriting and claims experience, but also experience in the management of restaurants and bars.

Great hospitality insurance services can do amazing things for you and your company. Finding the right services and the right coverage is a huge boon to the growth of your hospitality business.


Select the Best Retirement Package for Your Employees

Select the Best Retirement Package for Your Employees

Your employees work hard for your company. They deserve to retire with a package that will support them in their golden years. Several factors play into the decision when looking for the best plan to protect your retirees.

Administration of the Plan

To administer a successful plan, choosing the right retirement planning and services package is key. It is ideal to find a comprehensive plan that includes many considerations, including well-defined benefits and cash allocations. Important items include:

  • 401(k) and 403(b) Planning and Administration
  • Distribution Considerations and Compliance Testing
  • Cross-Tested Calculations

Additional services, including termination of plans or new acquisitions and mergers, should also be considered when choosing a plan.

Compliance With Regulations

The IRS must approve certain documents with annual updates. Because retirement planning documents must comply with these regulations, it’s crucial to employ an organization that understands and addresses all necessary legal requirements. If the IRS finds discrepancies during an audit, a competent service provider will help to settle these disputes and minimize any penalties handed out.

The retirement service must also understand the fiduciary compliance responsibilities to reduce their client’s risk of possible litigation in the future. Actuary services are an important consideration as well when designing and maintaining accurate calculations that comply with the laws.

Make sure the retirement service provider you choose protects your business and your workers.


Do You Need a Certificate of Financial Responsibility

Do You Need a Certificate of Financial Responsibility

The impact of an oil spill can be devastating. It can completely ravage an ecosystem and cost billions of dollars to clean. Given the severity of oil spills, the U.S. government has regulations to protect the environment.

One of the regulations to ensure that vessels can pay the fines, penalties and damage after an oil spill is that all vessels over 300 gross tons have to have a Certificate of Financial Responsibility.

Why You Need a COFR

If you are a vessel over the weight limit and if you operate in the Exclusive Economic Zone or U.S. waters, then you have to have a COFR. Without one, you could face serious fines. For instance, you could be detained, fined up to $30,000 daily and more. In some cases, you may even have to give up your vessel.

How to Get a COFR

If you need  COFR, then you can always apply for one online. You simply sign onto the U.S. Coast Guard’s website to find the application. You can complete the whole process electronically. You can even apply for supplemental COFR and make online payments. There is no need for paper copies.

If you have a ship that is over 300 gross tons and that operates within the EEZ or U.S. waters, then you need the COFR. While the COFR protects the environment, it also protects your vessel and your assets.


3 Reasons You Need a Business Owners Policy

3 Reasons You Need a Business Owners Policy

You already know that running a business is hard, but for many it’s a labor of love. That’s why it’s important to protect what you love with the right insurance, and these are the three reasons you should consider a business owners policy.

You Have Inventory or Assets

Whether you manufacture a product or sell a service, the things your business owns need coverage in the event of a loss. Your assets can include things like equipment, raw materials or product inventory, but they also include intangibles like customer data and other digital assets.

You Have a Physical Location

Your office, workshop, warehouse, and any other physical location are vulnerable to natural and other disasters. If you have a place where you conduct your work, a business owners policy can provide coverage for repairs to the structure to get you up and running as soon as possible.

You Are Vulnerable to Lawsuits

Another component of the policy is liability coverage that shields your business from lawsuits. Legal action can arise from many aspects of your business. A slip and fall at a physical location can result in a customer’s injury, but so can a faulty product or a data breach at your company. Liability insurance often provides defense costs as well as indemnification for the injured party.

Building a business is hard work. Protecting your business doesn’t have to be.


Condo Insurance Essentials

Condo Insurance Essentials

Condo associations are responsible for maintaining the property and managing the finances of its membership. A proactive approach to risk management is an essential element of achieving both of these important duties. Condo board members and the property management companies that work with them need to carefully evaluate how to safeguard their condo buildings’ assets.

General Liability Insurance

Condo insurance coverage must include a general liability policy. General liability will protect the association in the event that someone makes a claim against it.

Property Insurance

It is imperative that condo buildings maintain adequate property insurance. A condo’s property insurance policy will generally not cover claims relating to an individual resident’s unit but rather only the common area elements of the building.

Directors and Officers Insurance

The individuals who serve on a condo board should have a directors and officers policy that offers coverage if there is a legal claim made against them relating to their service on the board. This vital policy can help to protect board members from personal liability in legal action.

Ultimately, board members should familiarize themselves with their condo’s insurance. Working with a knowledgeable insurance representative who is experienced in serving condos can help to review current coverage levels and identify any gaps in existing policies.


The Ins and Outs of Risk Retention Group Insurance

The Ins and Outs of Risk Retention Group Insurance

Business insurance is not always a cut-and-dry process. In fact, there are plenty of factors that can influence whether or not a policy makes sense for the needs of your company. If you are not aware of all the options available to you, then it stands to reason you are missing out on a more helpful form of coverage. For example, a Risk Retention Group might be the self-insurance option you have been looking for to keep your business booming.

The Risk Retention Act

Understanding RRG insurance is all about looking at where the idea originated. After the Risk Retention Act of 1986 was passed, it was possible for group captive insurers to assume the risks of commercial liability exposures related to the members of the captive. Though this can seem laden with industry jargon, it essentially means that you have lots of interesting options to mull over when it comes to how and where you obtain your insurance plan. Areas that an RRG plan could prove advantageous include:

Understand Your Options

Staying familiar with all of the insurance options available to you is a surefire way to ensure your business gets the attention it deserves. Learn about Risk Retention Groups and determine if this type of coverage applies to your company.


Extra Insurance Policies: The Importance of Excess Liability

Extra Insurance Policies: The Importance of Excess Liability

If you are shopping for insurance policies, the types of coverages that you require depend heavily on what you need it for. No matter the type of insurance coverage that you have, you should always consider excess liability insurance. Excess liabilty insurance can be extremely beneficial. Here is what you need to know about excess liability.

What Is Excess Liability Insurance?

Excess liability insurance can be used for businesses, homeowners and more. Essentially, excess liability insurance boosts your underlying policy limits. For instance, if you have general liability insurance but someone is injured and those injuries exhaust your policy limit, your excess liability will cover it too. Excess liability affects coverages that you already have.

Do You Need Excess Liability Insurance?

There are specific risk factors that make excess liability insurance important. Some risk factors include:

  • Owning a swimming pool
  • Having a dog
  • Driving a vehicle regularly

If you consider your exposure to liability risks to be high, then you need to consider excess liability coverage. To find out if you need excess liability, you can always ask your insurance agent for advice.

All insurance policies have a limit. Sometimes, your injuries or damages can extend beyond the typical insurance policy. Excess liability insurance solves the problem.