Blog

Gleaners, Food Donations, and Protecting Your Good Nature

You’re in the food business, so what better way to show the Holiday Spirit than to do something with food, right? Not only does Parker Smith & Feek have clients who run restaurants and hotels, but also non-profit organizations with elaborate operations of food drives, donations, and distribution to the less fortunate all year long. Working together is what this season is all about, but there are certain insurance exposures you need to be aware of before you donate perishables.
Are You A Gleaner?

Read more

The Holiday Food Donation Dilemma for Insurance

The need for clothing, household items and food continues in our community, and there are many great organizations that help fill that role.  The people providing this service are caring, dedicated volunteers. However, risk management may be the last thing the organization is thinking about. It is important to understand what your current insurance policy includes, and more importantly, may exclude. 
Your Holiday Checklist
When reviewing your policies, include the following questions in your checklist:

Read more

Does WA L&I Cover Out of State Workers?

My clients often ask the question, “I’ve got a job in [state other than WA]. I pay for L&I here, do I need to worry about worker’s comp there too?
My answer to that is, “In most cases, Yes.”

Read more

Is Your Holiday Party Covered?

You’re having a holiday party to tell your employees how much you appreciate them. Hooray! However, the Driving Under the Influence (DUI) laws in Washington State have been changing so rapidly that it can make your head spin. It seems almost every month a business shows up in the news with a lawsuit naming them partially or fully liable for an accident that resulted in a DUI injury or death under the “dram shop” laws. These laws hold businesses accountable for over-serving patrons.  

Read more

Getting the Right Adjuster

When you have a sudden, major property loss, you follow the prescribed process for filing a claim with the insurance company; however, there are a few things you should consider.  They most often assign an adjuster to work with you on the claim.  This adjuster may or may not have the experience and understanding needed to make the claim and recovery process run smoothly.  If an adjuster is not familiar wi

Read more

Ex-Mods Up, Ex-Mods Down – 2013 NCCI Changes

Workers Compensation insurers have long relied upon the theory that past results are the best indicator of future performance, and have utilized experience rating to increase or decrease an employer’s premium costs based on prior claims experience. As the underwriters’ actuaries would attest, frequency of claims is more indicative of a safe or unsafe workplace than severity, or cost, of those claims.

Read more

L&I 2013 Workers’ Compensation Rates

After a tumultuous 2011 that threatened the very existence of the public Workers’ Compensation monopoly in Washington, L&I has seen the path ahead and it is paved in eggshells. Thus, to everyone’s surprise they announced no raises in rates for 2013 despite their contingency reserve issues. This may leave you breathing a sigh of relief and moving on with your life and your business. Yet, the future of their organization is far more complicated than you might realize.

Read more

How Do Your Employee Benefits Stack Up to the Big Boys?

In the tech industry, capturing and retaining the top employees in the market is hard enough. Coaxing them from a Fortune 500 company can seem like you’re a basketball team recruiting a European sports star; expensive with a lot of unknowns. Employee Benefits can be the factor that shore up your chances of capturing them.
The Big Boys

Read more

How Concerned Should I Be About Cyber Fraud?

According to Information Week this month, cyber fraud against medium and small businesses is up 42% this year over 2011. Cyber criminals can gain access to your sensitive banking information (account #, user names, passwords) and start transferring large sums of cash out of business accounts. Read on and you will learn that cyber crime can take many forms.

Read more

How Do You Protect From Coverage Gaps in Builder’s Risk Policies?

I am often asked “Who is contractually responsible for placing Builder’s Risk Coverage on a construction project?”
In the construction world, contractual obligations are established on paper and the trust is established with a handshake. Far too often that trusting handshake disguises an insurance coverage gap, which can lead to a major dispute. What most contractors don’t know is that:

Read more

Beware of Lender “One Size Fits All” Insurance Requirements

One of the stress points for lenders and their underwriters is the fear of a foreclosure due to substantial property damage and improper insurance held by a borrower.  Consequently, lending has become an increasingly automated and overcautious process which can generate “standard” insurance requirements, regardless of the leveraged property’s actual risk profile.

Read more

WRIN.tv – World Risk and Insurance News

The latest Risk and Insurance News from around the world – Updated: October 2nd

Read more