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...property owners and managers of commercial and residential real estate, includ...g apartments, HOAs, mixed-use, and commercial LRO through the Specialty Insura...

People are losing jobs to robots and technology at an accelerating rate. Have you used one of those self-serve checkout stands lately? One was installed at my local CVS only 3 months ago. Awkward at first but seems like old hat now. The manager there told me the new system allowed him to let two full time clerks go. Two jobs lost to robots and their technology that will never reappear. Here's just some of the other jobs that are suffering the same fate as retail clerks: Pharmacists Soldiers Reporters Drivers Fast food workers Assembly workers Bank tellers Secretaries Stock traders Warehouse workers …and there is more Technology alone changes the employment landscape. Objects like the iPhone have the consequence of laying off Kodak workers, as well as workers in the mapping, printing, alarm clock and record industry. I recently listened to an interesting podcast (all Radiolab podcasts are interesting!) about work in a shipping warehouse for online mega-providers, such as Amazon. If you thought stop watches were banned in the workplace at the beginning of the last century, guess what – they're back! Technology, along with its gamification, is reducing worker output to a competitive logarithm using the most minute of performance indicators. Years ago Buckminster Fuller (otherwise known as "Bucky") surmised that the rise of computers and technology would bring use to a place where it is inefficient to have full scale employment. It would actually be cheaper to pay people to stay at home.  And we are getting there. Even in a "good" economy we have 7% unemployment. And we are being asked to pay for those folks who have to stay at home…because there are no jobs. This has more to do with the macro-economics of production than it does anything a politician can influence. While Bucky believed that less is more, most folks don't think that way. In their idleness they will want to be serviced, entertained and otherwise cared for, by a growing service class economy. So the fantasy of growing the middle class back to where it was before all these technology changes is a pipe dream. A political football divorced from reality. There will be a continued division between highly paid knowledge workers and low paid service workers. Sooner or later we will end up paying service workers to stay home or do some form of public service. As we march forward you will either be a highly paid knowledge worker who cannot yet be replaced by a machine or a low paid service worker who cannot yet be replaced by a machine. That's true for your kids' future too! FYI – Looks like John Henry would be out of a job today. Now trains lay their own tracks http://www.wimp.com/traintrack/

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The widespread use of smartphones and tablets in the workplace is exposing more and more businesses to liability for sensitive data being compromised if these devices are lost, stolen, or hacked. How can your company protect itself against this threat - and how much authority do you have over an employee's personal device if it's also used for work-related activities? What's more, because these gizmos are small and portable, it's easy to misplace them. (The federal Transportation Safety Administration recently leased a warehouse just to store those misplaced or left behind at airports.) Another emerging risk linked to these devices is a "bring your own" policy that many companies have adopted as a way to save costs by having employees spend their own money on smartphones and tablets that are constantly evolving and updated. This approach raises questions about separating company data from personal information on the device. For example, when an employee leaves, does a business have the authority to wipe the information from his or her smartphone? According to some authorities, if an employee connects a personal device to a company network, the company has inherited responsibility for the data stored on it. To deal with this risk, you need to provide every employee who uses these devices with training, updated annually, on how to respond in case of loss or theft. To minimize potential liability for lawsuits by customers and clients, make sure that the individual responsible for the mishap informs management immediately. The compromised information might include everything from sensitive data (financial or medical) contacts, photos, call history, personal notes - you name it. You can also use insurance to protect yourself against losses from data breaches. A policy will provide Liability coverage that deals with legal costs and third-party expertise (such as forensics firms to analyze a breach and call centers to provide information and public relations. Coverage might also include services such as access to tools to estimate costs, a checklist for your planned response to a data breach, and access to experts who can answer questions and review your company's policies and procedures. For more information, feel free to give us a call.

Although you have insured the business property on your premises, this protection does not extend off site - unless you carry Inland Marine insurance. This type of policy goes back as far as the 17th century when Lloyd's of London extended coverage on ship cargos beyond ocean voyages to their final destination "inland." Today, Inland Marine covers the property of a business when it's in transit - or stored at a location away from the premises - as well as the property of third parties that's held on the premises. Because this property is essentially "floating," these policies are also known as Floaters. Inland Marine coverage would apply in such scenarios as: A truck carrying designer handbags for an upscale department store is hijacked at a rest stop. A hailstorm damages bulldozers on a machinery dealer's lot. A fire at a dry cleaners scorches customers' clothing. A defective sprinkler system in a "big box" store warehouse soaks dozens of TVs. You can buy Inland Marine insurance on either a "named peril" basis (which lists the specific risks covered) or as an "all risk" policy (which covers losses from all causes not specifically listed). This coverage can provide valuable protection for the mobile or moveable property of almost any business, large or small: everything from camera shops and computer manufacturers through building contractors and jewelry stores to museums/art galleries and trucking companies. As Business Insurance professionals, we can tailor a comprehensive Inland Marine policy to the needs of your company. Feel free to get in touch with us at any time.

Check out what's new on CompleteMarkets this week - August 31, 2018

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Check out what's new on CompleteMarkets this week - September 7, 2018

... coverage who can help meet all commercial insurance account needs. We are problem solvers for all commercial lines coverages and specialize in h...