Category Archive for : ‘Risk Advisor Insights’

When the voters approved to make recreational marijuana use legal in Massachusetts in 2016, employers immediately wondered how they were going to navigate these waters with their employees. Marijuana still remains illegal under Federal Law, which is putting Massachusetts based employers in a tough spot.

With the first recreational marijuana shops recently opening in the Commonwealth, employers are now faced with the real likelihood that some of their employees are now consuming marijuana products on their own time. How is this going to affect employers that have drug policies in place

I’ve met so many great people attending industry conferences, conventions, and seminars. A great variety of people all passionate about the business they do and the opportunities that come with it. Of all of the conversations I’ve had I spend the majority of my time learning about their businesses. How did you start? What are your plans? Where do you plan to go with this? Are you having fun? What have you learned? I happen to be curious by nature – so I love engaging in these conversations. They tend

The Rising Health Care Cost Challenge

According to the National Conference of State Legislatures in 2018, the average annual employer-based family coverage premium was $19,616, up 5% from 2017! Premiums have increased over 20% since 2012. Health insurance now consistently ranks as the second largest line item for a business, after payroll.
This rapid increase in cost resulted in less than 30% of businesses with fewer than 50 employees offering health insurance in 2017, according to NFIB. A 22% reduction in companies offering health insurance since 2010. In comparison companies between 50-99

According to the United States Census Bureau half of all businesses are owned by baby boomers. This means that the owners are between the ages of 53 to 71. The Census Bureau also states that the average age of retirement in the United States is 63 years old. This means that half of all business owners are at the average age of retirement or less than a decade away from it.  If you find yourself in this category are you actively planning an exit strategy?

Successful business owners spend decades building

South by Southwest [SXSW]. Music. Movies. Interactive Technology. Networking. Late Nights. And, now featuring the Cannabis Industry!

I recently attended the SXSW Cannabusiness track in Austin, TX. The conference based track was lead by industry experts, lifetime Cannabis advocates, doctors, and even featured a guest panel including John Boehner. What was the overall takeaway from the event? I’d say it was discussions around reversing the stigma of Cannabis. Discussions around reversing the messaging developed around the prohibition of Cannabis – a message clearly articulated by Med Men: Cannabis. The New Normal.

So,

If you offer health insurance to your employees you are aware that it is bought in one – year policy increments. Every year your insurance broker arrives at your office, spreadsheet in hand ready to explain why you received an increase. Insurance carriers do this in order to protect themselves from long-term losses by having the ability to adjust your premium on a yearly basis. Unfortunately, as a business providing health insurance you will almost certainly offer it for more than one year.

As a result, business owners need to start

I just spent the last few days with some of the most inspirational and innovative insurance Agency owners I know.  This is a group of colleagues who own agencies across the country.  We all met years ago at an industry conference geared towards bettering our agencies.  Our relationships started with grabbing a beer after a long day of education.  They eventually evolved into having dinner together, sharing challenges and stories, and ultimately becoming close friends.  Today, we all talk regularly.  We make sure we get together if we’re ever in

From an insurance and risk management stand point, what snow and ice contractors cannot do enough of is document, document and document. This unexpected, yet critical contractor tool In this highly litigious society we are living in it has never been more important to keep track of all the information you can. Recently insurance carriers have moved to much stricter guidelines when underwriting potential businesses.  They now require certain documentation, such as log books. Lack of documentation will cause insurance carriers to offer higher premiums or decline coverage all together.

At FBinsure we are sure you’ve heard us say: “the traditional insurance buying process is broken!”

It’s our Agency’s fundamental belief that this process is harmful to businesses and costs them money! But do you know why we believe that? Well, the above video does a good job of explaining but these are the three main reasons:

Organizations often bring in more than one agent hoping competition will help them get the best results but…This harms innovative agents by allowing traditional, less thorough agents to misrepresent your business in the marketplace.
To be

With the winter winding down chances are that you had one or more insurance claims arise. Maybe it was a slip and fall, or a plow truck accidentally hitting a curb or maybe it was one of your employees getting injured on the job. This is why you have insurance. But how are these new claims viewed by your insurance carrier? How will they affect your premium?

When an insurance claim gets processed the carrier will attach a reserve amount to it. A reserve is the amount of money the insurance