If you are a contractor who bids for local or state jobs, you may have experienced losing a bid every now and then. While I am sure you simply moved on to the next bidding process, did you stop to wonder how the winning bidder was able to bid so low and still maintain profitability? Obviously, the contractor that keeps his expenses the lowest will see the highest profits. What is not so obvious is how to keep one particular expense, which likely adds the most to your bottom line, the lowest it can be. The culprit expense is your Workers’ Compensation premium. If you haven’t reviewed your classification codes, your claims history or haven’t implemented back-to-work or safety programs, read on. We'll cover how to lower your Workers’ Compensation premium which will ultimately make your company more competitive when bidding for municipal or state contracts.
Cyber Risk: More Than Just Data Breaches
Cyber risk entails more than you think. It's important for executives whose responsibilities include protecting the financial welfare of their companies to understand that cyber risk goes much deeper than the highly publicized security/data breach. Learning all facets of cyber risk, ways to protect a company’s data infrastructure and financial well being and what remedies are available in the event of a loss, are all paramount to any financial executive in today’s digital world.
Understanding Security & Privacy Liability Insurance
Security and Privacy Liability Insurance protects the insured from loss due to a security failure or privacy event. Still, many business owners are unclear on the terminology included in their policy. In this post, well break down what to look for in a Security & Privacy policy, and the different line items you need to understand.