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...r professionals, such as doctors, lawyers, architects, engineers, and CPAs, ha...amp;O exposure that the insurance professional should deal with in fact-findin...

... guidelines can help protect your business against the "growth industry" of employment-related litigation. Today, every business faces not only the traditional challenges of competition and rapidly changing technology, but a relatively new category of potential adversary — workers hitting them with employment-related claims. Not-for-profit corporations, public entities, and private businesses alike are experiencing an explosion of litigation alleging: Discrimination Sexual Harassment Wrongful discharge Wage and hour disputes Negligent hiring, retention, and supervision Failure to provide benefits Violations of federal and state leave-of-absence laws Whether companies win or lose such ... a stock clerk accused him of trying to fondle him; other employees provided signed statements accusing the manager of conduct ranging from mild sexual innuendo to fondling and propositioning employees. Even if the store wins the suit, it will have lost hundreds of thousands of dollars on lawyers' fees and its public image will suffer. If it loses the suit, the verdict could be in the millions. Only 5% of the workforce is responsible for 95% of employment-related litigation. Most of those 5% have victim mentalities. They believe ... law firms that have expertise in employment litigation. EPL insurers are likely to offer the most favorable rates to clients who implement best practices hiring policies. Marcus Covas is editor of riskVue, a free monthly online magazine from Warren, McVeigh & Griffin for risk and insurance professionals. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when ...

...ndreds of thousands of dollars on lawyers’ fees and its public image will suf...nsurers offer Employment Practices Liability (EPL) insurance, which provides ...

... the agreements are enforceable if they have been drawn up well after the producer was hired, and make sure they are assignable to a new buyer. RULE 7. Demand and expect good collateral for any future installments. Agency assets alone are not enough. The buyer's corporate and personal guarantees are a minimum. It's good to have other collateral, which is usually available if you are an attractive purchase. RULE 8. Expect and be prepared to sign or warrant your accounts receivable, unknown liabilities, and a covenant not to compete ... of the year. Pay attention to the small things; you've already taken care of the big ones. RULE 6. Make sure your producers have employment agreements. It's not as easy to get the terms you want if your producers have no agreements. Have your lawyer make sure the agreements are enforceable if they have been drawn up well after the producer was hired, and make sure they are assignable to a new buyer. RULE 7. Demand and expect good collateral for any future installments. Agency assets alone are not enough ... carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability to attach leads and clients to your specific market searches, with e-mail alerts for all the market, articles, blogs and ...

...lone are not enough. The buyer's corporate and personal guarantees are a minim...

...ho place safety as their primary corporate value. The book, titled Saving Live...ion of 89 ideas on safety from 80 professionals.* A number of the contributor...

...is even applies to sophisticated corporate honchos. To really get to know your...r who specializes in child accident liability,' or a 'C.P.A. for used car deal...

... will be built around one of these basic structures. The tax and legal implications of each are radically different. ASSET SALE An asset sale is what most owners have actually selected when they sell their book of business. Technically speaking, they're selling the assets of the corporation, not the corporation itself. Usually, the original corporation itself is liquidated after the sale. Of the assets sold, the intangible "book" of business (sometimes referred to as the "expirations") is usually far and away the most valuable. ... on securities issues. A stock sale is a securities transaction — and our securities laws are a classic example of how to encourage lawsuits. Both buyer and seller can be sued for errors of omission, as well as errors of commission. Since a creative lawyer can almost always think of information of some kind that was omitted, the potential for lawsuits is very high. Because any good attorney will try to reduce the chance of future lawsuits against their client, they'll try to avoid the securities issues by structuring the sale ... carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online insurance industry reference library for - Personal Lines Professionals Commercial Lines Professionals Life/Health & Benefits Professionals Online newsletters and content that you can use for your clients and social media efforts. Ability to attach leads and clients to your specific market searches, with e-mail alerts for all the market, articles, blogs and ...

... . LIMITED LIABILITY COMPANIES: WHAT YOU NEED TO KNOW by Gary Jacobson and Larry Morrison Limited liability companies (LLCs) have been called the greatest innovation in business ownership in the Past 100 years. They combine the liability protection and the general look and feel of a corporation (although they're not corporations), with the flexibility and tax advantages of a partnership. However, along with those benefits and flexibility comes its inevitable corollary: complexity. The very fact that you have so much flexibility means that you're dealing with a complex entity ... ' partners do have some Liability protection. However, they can accidentally lose the status of limited' partner if they become too involved in management, inadvertently becoming a general partner' with all associated risks. If the partnership is being sued, guess what the opposing lawyers will probably try to do? They must find at least one general partner-which can be a corporation under certain circumstances-with unlimited potential liability. Limited partnerships also benefit from flow-through taxation, with great flexibility as to how profits should be allocated. Tax effects for a limited ... are different than for a general partner if a partnership interest is being sold and the partnership is not capital intensive. Insurance agencies aren't considered capital intensive in this context. LLCs, as already explained, have the Liability shield of a corporation combined with the flexibility and tax effects of a partnership-possibly the best of all worlds. They also have flow-through taxation. Depending on details of the specific LLC, they may be similar to either a general or a limited partnership when a membership interest is sold. Conversion of a general partnership into ...

... have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back A Corporate Focus On Risk Management 4/30/2013 12:00:00 AM by CompleteMarkets Editor , Alan Bland This content has not been rated yet. Alternative Title: YOU DON'T KNOW WHERE YOU'RE GOING, UNTIL YOU KNOW WHERE YOU'RE AT' OSHA, WHMIS ... are kept in perspective. Loss prevention must be the only consideration where injury or death, either to employees or the public, are concerned. No amount of cost cutting or saving can justify even a remote chance of injury or death. As Workers' Compensation and lawyers' litigation files will show, these events happen even when good loss-prevention practices are in use. However, loss prevention for the sake of creating the perfect risk-or pig-iron under water' in the old-time Fire underwriter's parlance-also has to be avoided. The evaluation of risk ... selling of products has changed little since then. There's some justification for this lack of innovation. The legal system, which will always have the last word on a policy's intent and performance, has specific interpretations from which insurers deviate at their peril. A knowledgeable in-house professional or risk-management consultant should be on hand to interpret the fine print. One type of risk that's often overlooked is the risk to a corporation's reputation. Whenever an intermediary is engaged to represent a company, it is essential that any material affecting the company's image or ...