The country has experienced a shortage of supplies to combat the COVID-19 pandemic. In response, truck driving limits lifted to help stores and healthcare providers meet the needs of people. However, there are some stipulations around the regulation suspension.
As seen on https://www.programbusiness.com/, the current pandemic has sparked the necessity of suspending truck driving hour limitations. Not all carriers have the ability to increase the driving time. Those who supply food, medical supplies and necessary sanitation goods fall within the temporary suspension.
This is the first-time limits have been lifted nationwide since adopted. The unprecedented move hopes to improve efficiency and timeliness to impacted areas. Many of these locations have a variety of shortages from hand sanitizer to toilet paper to N95 masks. These goods are essential for people to meet daily needs and combat the spread of the virus.
For those carriers who do not deliver necessary goods, they must abide by the driving limits in place. Truckers not sure if they qualify should ask the Federal Motor Carriers Safety Administration or local law enforcement for clarity.
Even though the truck-driving limits lifted for certain carriers, it is uncertain when the limits will go back into place for all carriers. The hope is the temporary suspension can help with immediate supply issues.
Employee benefits administration is an integral part of your human resources department’s personnel management responsibilities. It’s imperative that your benefits programs are managed accurately and efficiently. Employees need to be properly advised, and important legal guidelines must be followed. Periodically reviewing your company’s existing policies and benefits enrollment will ensure that your operations are in compliance and help prevent your company from making costly errors.
Ensure Legal Compliance
Employer obligations with some benefits such as health insurance are affected by periodic legislative changes, such as the affordable care act. It’s important for companies to continually review their health insurance plan enrollment and administration procedures to ensure that they’re in compliance with federal and state-mandated requirements.
In electing group coverage benefits, some employers end up paying for features or services that their employees don’t actually need or use. Source: https://www.isurepro.com. Identifying and eliminating benefits admin mistakes in addition to finding out about what your employees most value will help your company to budget for benefits cost-effectively.
Get Expert Help and Analysis
Your company will benefit from working with a broker that specializes in group policy advisement for employers and is knowledgeable about employment benefits liability. Their expertise can assist your organization in practicing more effective benefits management and reduce unnecessary exposure to benefits administration liability.
Those who are in positions of management over employee benefits packages are called fiduciaries, and with great power comes great responsibility. The nature of their job duty opens them up to lawsuits and legal claims, which can be detrimental to both the employee and the entire company. Regardless of how big your company may be, the team at Axis Insurance highly recommends adding on fiduciary insurance to your current policy package.
Common Areas of Claims
For those who work as fiduciaries, there are some common areas of fiduciary insurance claims. The insurance plan is to protect from the financial loss that accompanies both founded or unfounded claims, and the coverage would be applicable in the following settings.
- An employer relied on a third-party company to manage investment funds, but the third-party was caught skimming funds from the top of employee contributions. The employer can be held liable for the funds that were taken and the funds associated with lost investment opportunities.
- An employee wanted to transfer certain investment funds out of a risky venture. The fiduciary delayed the transfer, and in the meantime, the venture imploded and the investment was worthless. The fiduciary can be held liable for the financial damages.
There are many scenarios that could be explored since there are several areas of control with fiduciary duties. These challenges can be mitigated with a strong insurance plan in place.
To rent out a boat to another person puts your vessel at risk. While the best-case scenario involves the renter returning the boat in as good of condition as they took it, that is not always the case. Due to this fact, you may need boat rental risk insurance. Here are the risks that you face when you own a boat rental service.
Accidents are always possible. When you rent out the boat, there is a chance that the operator could strike another vessel or an object while on the water. If this happens, then you may be the one liable for any damages. You could have to pay for the other person’s boat repair, replacement or any other damages caused by the renter.
Likewise, injuries can happen aboard your vessel. In some cases, you may be held liable if your renter is injured on your boat. This is especially true if it has something to do with the vessel’s operation.
Experts at Merrimac Marine Insurance explain that boat owner’s insurance policies may not cover you if you rent your boat to clients. This is why you have to have specific insurance coverages to handle the rental. Renter insurance is designed to give you adequate coverage when you rent your vessels.
Running a nursing home means providing quality care for residents of varying needs. It is important to protect not only the residents but also the staff by having the right type of nursing home liability insurance. Discover more on why this coverage is so important.
Protection Customized to Your Home’s Needs
Different nursing homes might call for varying needs, according to Caitlin Morgan Insurance Services. For example, perhaps you need excessive liability insurance with high limits because your home focuses on much older adults. Professional and general liability are types of coverage you can benefit from having since they protect both you and the people you serve. You can even add on with benefits such as coverage for a salon and special protection for directors and officers.
Helping You in Case of a Lawsuit
If your nursing home is ever part of a lawsuit, having nursing home liability insurance can help. That is because the coverage can protect your facility and allow you to keep operating, without worrying about paying additional expenses from your own pocket. This can make it easier to focus on providing care to those who depend on you.
Having liability insurance is crucial for a nursing home. It can be customized to meet the individual needs of residents and even help you in the case of a lawsuit.
If you run a medical spa, also known as a “med spa” or “medi-spa,” you know that the industry is going through many significant changes. With these transformations comes the need for a more comprehensive insurance plan. Here’s what you need to know about the risks that come with medical spa industry growth.
Who Visits Medical Spas?
Medical spas, which have successfully blended medical clinics and day spas together, have been rising in popularity. To accommodate the growing number of people who have taken an interest in med spas, many establishments offer a wider range of services to customers, including the following:
- Acne treatments
- Hair removal
- Laser treatments
- Chemical peels
Services such as chemical peels and laser treatments have attracted aging customers in particular. However, as reported by Huntersure LLC, many young adults are also visiting medical spas more often with an interest in acne treatments, laser hair removal and tattoo removal services.
To keep up with these changing demands, owners of medical spas need to be aware of the trends in their industry. The constantly growing and evolving medical spa industry also requires owners to be properly protected with the right coverage. Be sure to find the insurance plan that best fits your needs so that you can be prepared in any situation.
There are unique safety and liability considerations to be made when operating a dump truck. Therefore, dump truck insurance is available exclusively to the operator of such a vehicle as a specialty line of truck insurance products. Source: www.truckinsure.com.
Due to the specialized nature of insurance products for dump trucks, you may have questions about insuring them. Here are answers to a few of the most common.
1. What Are the Different Types of Dump Trucks?
Most people are probably most familiar with the “end dump” configuration in which the back of the vehicle is the dumping location. There are also side dump and center dump configurations. Insurance products are available to cover each type of dump truck.
2. What Factors Influence Insurance Costs?
There are many factors that can have an effect, such as vehicle age, location, the radius within which you operate, etc. Basically, anything that an insurance company assesses as a higher risk has the potential to increase the price of your dump truck insurance premium.
3. Are There Things You Can Do To Save Money on Insurance?
Maybe so. Your insurance company may offer you discounts on your rates if you take steps to promote safety, such as the following:
- Vehicle inspection before every trip
- Proper maintenance
- Driver screening process
You may also be able to decrease your premium by increasing your deductible. It is always a good idea to ask your insurer about any specific discounts available.
Elderly care facilities are long-term care facilities for those who cannot care for themselves. Generally, elderly persons remain in the care of the facility full-time. These are not necessarily ill patients, but instead, patients who have a variety of health problems or may need assistance with daily tasks. While all hospitals and medical treatment facilities have risks involved, intermediate care facilities or ICFs need to focus specifically on custom risk management options.
Risk Management Concerns
Nursing facilities are prone to financial claims. In an elderly care facility, for instance, the patients are often frail. They are more likely to suffer injuries. It is crucial that all caregivers and staff understand the responsibility of the facility and the risks involved. Risk management involves insurance options for these facilities. One of the biggest risks that a care facility faces is a claim of negligence.
Risk Management Options
As referenced by www.highlandrisk.com, the goal of these facilities is to return a patient to his or her home eventually. While the patient is there, the facility is in charge of medical care, medication and daily tasks. Facilities need to consider general liability, medical malpractice and professional liability to name a few.
When it comes to an elderly care facility, it is crucial that the business has the appropriate insurance coverage. Without it, the costs stack up.
Although employee injury coverage is required by most states, the nature of your company’s workers comp solutions will determine how effective your insurance has protected your bottom line and claims experience. Workers’ comp plans are written to address the exposures your employees face, and the more risks in the workplace, the more expensive the plan will be. However, the cost of the premium is a small price to pay when dealing with an employee injury claim is issued against the company. Here are the most common claims filed on workers’ comp policies.
- Overextension of muscles or physical ability
- Electrocution from wiring or installation tasks
- Trips slip and fall on walkways or wet floors
- Being struck by or against an object
- Machinery accident causing mutilation or being crushed
- Transportation accidents
- Exposure to harmful toxins or chemicals
- Workplace violence between employees
- Accidental overdoses of non-medical use substances
- Death or dismemberment by fire or explosions
The group of professionals at Insure My Work Comp advise that each company establishes a risk management strategy in addition to the purchase of a comprehensive workers’ comp plan. Being able to identify the areas of risk allows a company to establish processes that can minimize the threat, helping create a more safe work environment and lowering the costs of the insurance premiums.
As a business owner, it’s your responsibility to make sure your employees receive the insurance coverage they’re qualified and entitled to receive. The better your insurance offerings, the more likely you are to attract good employees that will stay with you for the long term. One of the policies you can potentially save money on is an accidental death coverage policy. Since it can frequently be combined with a group life insurance policy, accidental death and dismemberment (AD&D) plan can be quite affordable.
What Are the Details?
AD&D insurance from iSure Insurance covers the unintentional dismemberment or death of the person insured. Dismemberment can include the loss of use or complete loss of certain functions or body parts. Loss of eyesight, limbs, hearing and/or speech would all fall under accidental death coverage. The policy will pay benefits (on top of any life insurance benefits) if the insured dies accidentally. Policies are designed to be renewed periodically.
Are There Exclusions?
Every insurer has a list of circumstances that are excluded from accidental death coverage. For example, many policies will not cover death by suicide, illness, war injury or natural causes. However, traffic accidents fall, homicide, drowning and heavy equipment accidents are typically covered. Talk to your insurance agent to find out what exclusions are included in your policy.