Arnett Insurance Services » Quarter 4

H1N1 – Is Your Company Ready for the Flu?

admin — Fri, 06 Nov 2009 18:00:15 +0000

One of the biggest concerns facing employers this time of year is the spread of the flu and in particular, the threat of H1N1 virus. Companies may face huge increases in absenteeism and are being advised to take precautions by implementing a plan in advance. This year, employers may also want to consider an alternative or revised sick leave plan, as it is important that ill workers feel able to stay home without any retribution. It is important to not have employees return to work too early when they might still be contagious or may not have fully recovered from their illness. It may be difficult during these tough economic times to implement flexible leave policies, however, doing so will help prevent an outbreak among your employees, which can be extremely costly to any business.

Below is a sampling of tips distributed by the U.S. Centers for Disease Control and Prevention:

To Prepare for Heavy Absenteeism:

Develop flexible leave policies for workers who must stay home to care for other family members.
Have an understanding of your organization’s normal seasonal absenteeism rates and know how to monitor your personnel for any unusual increases through the fall and winter.
Cross-train personnel to perform essential functions so the workplace can operate even if key staff members are absent.
Explore whether you can establish policies and practices such as telecommuting and flexible work hours.
Ensure that you have the information technology and infrastructure needed to support multiple employees working from home.

To Help Keep Employees Healthy:

Ask sick workers to stay home for seven days or until they have been symptom-free for 24 hours.
Encourage hand washing and covering coughs and sneezes.
Clean commonly touched surfaces regularly.
Encourage employees to get vaccinated both for the seasonal flu and for H1N1.
Consider canceling nonessential business travel.

Know the Difference between Cold and H1N1 Flu Symptoms

Symptom	Cold	H1N1 Flu
Fever	Fever is rare with a cold.	Fever is usually present with the flu in up to 80% of all flu cases. A temperature of 100°F or higher for 3 to 4 days is associated with the flu.
Coughing	A hacking, productive (mucus- Coughing producing) cough is often present	A non-productive (non-mucus producing) cough is usually present with the flu (sometimes referred to as dry cough).
Aches	Slight body aches and pains can be part of a cold.	Severe aches and pains are common with the flu.
Stuffy Nose	Stuffy nose is commonly present with a cold and typically resolves spontaneously within a week.	Stuffy nose is not commonly present with the flu.
Chills	Chills are uncommon with a cold.	60% of people who have the flu experience chills.
Tiredness	Tiredness is fairly mild with a cold.	Tiredness is moderate to severe with the flu.
Sneezing	Sneezing is commonly present with a cold.	Sneezing is not common with the flu.
Sudden Symptoms	Cold symptoms tend to develop over a few days.	The flu has a rapid onset within 3-6 hours. The flu hits hard and includes sudden symptoms like high fever, aches and pains.
Headache	A headache is fairly uncommon with a cold.	A headache is very common with the flu, present in 80% of flu cases.
Sore Throat	Sore throat is commonly present with a cold.	Sore throat is not commonly present with the flu.
Chest Discomfort	Chest discomfort is mild to moderate with a cold.	Chest discomfort is often severe with the flu.

- Stephanie O’Dell

Auto Insurance In Tough Times

admin — Fri, 06 Nov 2009 17:00:38 +0000

Many consumers are tightening their budgets, reevaluating their financial goals, and trying to reduce unnecessary expenditures. Auto insurance is one thing in the budget that cannot be eliminated. When it seems like you can’t shell out the money for your auto insurance; dropping it may appear to be a good idea, but that ends up being a bad decision for many reasons. You are setting yourself up for some serious problems which may result in irrevocable damage. There are both long and short term consequences. For awhile, you might think you are getting away with something by avoiding any collisions. Even if this is the case, you are by no means off the hook. At best, you will make it until it is time to renew your license tags. To purchase your tags, you must provide proof of insurance. Auto insurance companies will want to know who you are currently insured with, and they do verify it. If you are dishonest about being currently insured, it will be discovered and you will see a major change in premium. For a minimum of six months, you will have to pay inflated rates at amounts that are simply unreasonable. Troubles will only escalate if you are involved in a collision. You will be stuck paying for medical expenses, repairs, etc. not just for yourself, but for everyone involved. If you get pulled over, police always require your insurance documents. If you can’t provide these for the officer, you will probably get a costly ticket and you could even get your driver’s license suspended. Points will show up on your record which will cause your rates to go up even further. After all these possible consequences, you will wish you had just paid the premium when you had the chance. Maybe you believe that you can’t afford auto insurance, when in reality, you can’t afford not to have it!

There are a number of ways to achieve more affordable auto insurance, beginning with everyday behaviors and choices. For example; the premium will be higher if you have a luxury model that is expensive to repair. The age, model, safety record, and features of a car are all factored in when we provide quotes. If your car has antilock brakes or a built in alarm system, it can help reduce your premium. If you are in a high theft city or drive a car frequently targeted for theft, your costs are likely to go up. Slow down. Speeding tickets are another item that will make your premiums increase. You can explore modifying some of the components of your policy as well. Adjusting your deductible is an example. If you increase your deductible, it will lower your premium; however, it is important to be confident that you can cover the cost of that deductible should you need to rely on your policy. Many insurance companies offer discounts if you purchase multiple policies (such as homeowners and auto) with them. You may also get a reduction in premium when you sign up for automatic bill paying agreements. If you are interested in trying to lower your auto insurance premiums, we can look at altering components of your policy. We want to help you make smart decisions that will cut costs, while still providing the protection you need.

- Bryce Arnett

Do I Need Business Interruption Insurance?

admin — Fri, 06 Nov 2009 16:00:42 +0000

What is Business Income?

Business Interruption insurance compensates you for lost income if your company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire. Business interruption insurance covers the profits you would have earned (based on your financial records) had the disaster not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.

What is Extra Expense?

Extra Expense insurance reimburses your company for a reasonable sum of money that it spends, over and above normal operating expenses, to avoid having to shut down during the restoration period.

Why do I need this coverage?

The goal of this insurance is to “make you whole again”. Purchasing Building and Personal Property insurance returns your location to the same physical condition it was in prior to the loss. Business Income coverage, however, is meant to put you in the same fiscal position you would be in if no loss occurred.
Think of Business Income insurance as protecting the existence of the business itself. To put it another way, if you neglect to purchase Business Income Coverage, the business may simply cease to exist following a prolonged shut down created by a covered cause of loss.
It’s hard to believe, but with the historic focus of property insurance on the prevention of loss and preservation of property, little thought has gone into insurance for post loss recovery. Even more importantly, most insureds that are aware of this key exposure tend to be concerned about covering lost profits, often overlooking the equally important impact of continuing expenses. Continuing expenses can often exceed the insured’s monthly profit.

- Brigham Curran