Managing Risk In Uncertain Times

We are living in uncertain times. COVID-19 and all that goes with it have created a new set of operating rules and risks. There is a number of new risks that have emerged as a result of these changing times.

 

It is vital that your business insurance program have the flexibility to respond to the changing and uncertain times we are living in. Your business insurance program needs to be designed to give your business the best possible coverage at a reasonable price from an agent who understands your individual needs.

 

Remote Workers 

COVID-19 has changed the way we think about remote working. Most businesses are having employees work from home, and even if there is a vaccine, the work from home trend is likely to continue. In general, employees are covered for work-related injuries that occur outside the office or other workplaces. Generally, employers are still responsible for injuries that occur during a detour, such as when an employee physically departs from his or her job duties that are considered minor activity, getting coffee, etc.

 

New Cyber Risks

Commercial businesses to become more dependent on the internet with an increase in remote workers. This new normal now requires special procedures and policies to protect your organization, its data, and network. When workers feel secure, you can nurture productivity and enhance collaboration.

Finance, Social Life And Health Of Employees

Because of the requirements and arrangements following the pandemic, employees have been faced with unexpected expenses related to travel, digital needs, accommodation (home workspaces) health concerns, and protective measures. Employers need to find ways to address these needs on a long-term basis, possibly through smaller in-person gatherings, remote learning opportunities, and even allowances for home office improvements.

Employees With Disabilities

Disabled employees need additional support to adapt to changes. Specific measures are required to address their needs and ensure their access to remote works issues.

As with any risk, you want to get out in front of it quickly. The longer you wait, the harder it is to mitigate the damage. The most successful companies are those that put systems and processes in place to help them quickly recognize the warning signs and navigate the best path forward.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

Stop Porch Pirates This Holiday Season

 

The holiday season is filled with fun, parties, food, gifts, overeating, and unfortunately some risk. One of the fasted growing risks for many people are stolen packages by porch pirates.  According to proopertycasualtiy360, over 26 million packages are stolen during the holiday season.  Need more bad news?

Your homeowners or renter’s insurance generally may not cover this loss as it tends to be under your deductible.  There could be covered if you have personal property off premises insurance.  Also for theft coverage to apply generally, you need proof of loss by a broker indoor, etc.  Call our office for a  review of your homeowner’s insurance, as each policy is unique to your circumstances.

Things To Do

  • Delivery confirmation is a good way to prove the package was delivered.
  • Thieves will follow delivery trucks, waiting for the perfect target.
  • These thieves commonly strike during working hours as many homes are empty at that time.
  • You can insure your packages.
  • Consider having a person there when the delivery is scheduled.
  • Install a security camera.

What To Do If A Package Is Stolen

  • Track your package. Check the delivery confirmation and tracking number.
  • Make sure a neighbor did not pick it up for you.
  • Contact the seller. Different retailers have different policies and processes for handling stolen items, but usually, you are entitled to a refund or a replacement item.
  • File a claim with the shipping company.
  • Check your Credit Cards for Purchase Protection.

 

Even Small Businesses Need Commercial

Liability Insurance Coverage

 To protect a small business from potential lawsuits, liability insurance is necessary. Policies vary greatly, and they cover different classifications of risks for varying costs. Before shopping for a policy, it is important to educate yourself about liability insurance.

Commercial General Liability, which is also called CGL, is a very broad insurance product. It covers claims from accidents, injuries, or negligence when the business is at fault.  Small businesses may face a wide array of damage charges. Personal injuries, property damage, libel, and slander are just a few examples.

Product Liability insurance covers legal fees for litigation involving a faulty product.  It also covers any personal or property damage charges caused by the defective product.

Professional Liability coverage pays for damages caused by services.  It is also called “errors and omissions” coverage.  This is for companies that market a service instead of a product. For example, professionals in medical clinics must have medical malpractice coverage.

An Employment Practice Liability Insurance policy offers insurance protection against claims and lawsuits that are brought against a business, its officers or directors, or its employees and managers, against harassment, wrongful termination, breach of employment contract, discrimination, invasion of privacy, compensation issues, and employee benefits administration.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access to a wide range of carriers, and our extensive knowledge of the insurance marketplace.

 

The Coronavirus Will Have An Impact The United States

Coronavirus Will Have An Impact The United States

The Centers for Disease Control recently stated that the Coronavirus will have an impact in the United States.  Currently, the death toll from the Coronavirus is over 2,700 worldwide.

People who contracted the Wuhan virus have reported symptoms that include fever, chills, headaches, difficulty breathing, and a sore throat.  Now is a good time to start thinking about how you might protect yourself and your family from contracting this virus. The World Health Organization and the CDC recommend that you take the usual precautions to help prevent the spread of respiratory viruses including:

  • Wash your hands often with soap and water or use an alcohol-based hand sanitizer.
  • Cover your mouth and nose with your elbow or a tissue when you cough or sneeze.
  • Avoid touching your eyes, nose, and mouth if your hands are not clean.
  • Avoid close contact with anyone who is sick.
  • Clean surfaces you often touch.
  • Stay home from work, school, and public areas if you are sick.
  • Check with your doctor if you have a fever, cough, and difficulty breathing, and tell your doctor about any recent travels.
  • Avoid eating raw or undercooked meat or animal organs.

 Traveling

If you do get sick while traveling, it is important to know the signs of coronavirus and seek immediate medical attention if you believe you have contracted the virus.

Symptoms include fever, cough and shortness of breath. It is important to note, however, that the coronavirus symptoms are common to a number of viruses.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access to a wide range of carriers, and our extensive knowledge of the insurance marketplace.

 

Don’t Let the Company Holiday Party Turn Into an Employment Claim

Don’t Let the Company Holiday Party Turn Into an Employment Claim

Your company Holiday party was going great, and everyone was having a wonderful time.  Except one of the female employees said that a manager touched her and made unwanted            advances.  Now she is filing an employment liability claim.  This is a scenario that no one wants to happen.   Your business insurance may not cover this lawsuit unless you have employment practices liability insurance.  Call our office for a review of your commercial insurance today.

  • Limit use of alcohol; offer two drink tickets per person.
  • Make sure you have food at your party.
  • During the party, monitor alcohol consumption. Quickly try to diffuse any situations or displays of inappropriate behavior.
  • Consider having the party at a restaurant. This is a good way to transfer liability.
  • Make the party optional.
  • Arrange for cab rides or transportation home for guests who may need it.
  • Prior to the party, review harassment policies with all employees as a reminder of proper behavior.
  • Encourager managers to set a good example.
  • Consider inviting spouses, which is a good way to reduce romantic hook-ups.
  • Know your state laws.
  • If you have employees bring food, be sure the food is labeled by type. Some people may have food allergies.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access to a wide range of carriers, and our extensive knowledge of the insurance marketplace.

Oakwood is involved with numerous local, state and national insurance associations and communities. The agency encourages employees to devote time to these endeavors. Oakwood’s approach is one of total risk management, encompassing the areas of property & liability insurance, automotive insurance, worker’s compensation, professional liability, individual or group accident & health insurance, life insurance, contract surety bonds, and personal insurance. Oakwood provides an in-depth range of insurance products and services to assist in securing our clients’ future. We are an agency committed to excellence, founded on the principle of integrity.

 

 

How To Protect Your Identity During The 2019 Holiday Season

 

Black Friday and Cyber Monday coming, and holiday spending will continue right up to December 24th. According to the Nation Retail Federation, 84% of Americans will use the internet to shop during the holidays. Even during non-holiday times, people are using noncash transactions for the purchases of goods and services.

  • Consider identity theft insurance.
  • When shopping, only take the credit cards you need.
  • Review your bank statements to make sure all transactions are correct.
  • When online shopping, only use sites you have used before or those that are reputable.
  • Make sure your antivirus and anti-spyware software is up to date.
  • Don’t open emails from people you don’t know, even if your name is in the reference line.
  • Don’t shop on unprotected wireless networks. Enjoy your coffee at the coffee shop, but do your shopping at home.
  • Use complex passwords and change them regularly.
  • Keep your Social Security Card and number locked up.
  • Keep your laptop or tablet locked in the trunk.
  • Keep receipts in your purse or wallet, not in the bag.

Identity Theft insurance

Identity Theft Protection assists with the costs of restoring and repairing a consumer’s identity and credit history. Call our office for a quote.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access.

Oakwood is involved with numerous local, state and national insurance associations and communities. The agency encourages employees to devote time to these endeavors. Oakwood’s approach is one of total risk management, encompassing the areas of property & liability insurance, automotive insurance, worker’s compensation, professional liability, individual or group accident & health insurance, life insurance, contract surety bonds, and personal insurance. Oakwood provides an in-depth range of insurance products and services to assist in securing our clients’ future. We are an agency committed to excellence, founded on the principle of integrity.

Summer Travel Safety and Insurance Tips

Stay Safe and Protected This Summer

Summer is filled with many activities that bring your family together.  However, nothing can turn a summer outing into a disaster faster than an accident or having your home burglarized while you are away.  Your personal insurance can provide coverage for accidents that occur while you are on vacation, but there are limitations.  We can make sure you have the best possible combination of coverage, price, and services for your personal insurance needs.

Your personal insurance program should include some, or all, of the following kinds of competitively priced insurance products.  There are many benefits to buying all your personal insurance through one agency, including having one source for all your needs, bundling your home and auto for better discounts, and the ease of just calling one person for all your personal insurance needs.  We are able to handle all your personal, business, and health insurance needs.

  • Home or renter’s insurance
  • Auto Insurance
  • Personal umbrella coverage
  • RV Insurance
  • Watercraft insurance
  • Travel Insurance
  • Health Insurance
  • Identity theft protection

Summer is an excellent time for burglars to make a living.  Nonetheless, you can help reduce the likelihood of having a burglary.  Here are a few facts that you should know:

  1. Burglars tend to avoid homes with security systems.
  2. There are over 2.5 million home burglaries each year.
  3. Households without a security system are 300% more likely to be burglarized.
  4. Most burglaries occur between 11:00 a.m. and 3:00 p.m.
  5. Home burglaries take less than 10 minutes.
  6. Sixty percent of burglars live within 10 miles of their targets.
  7. Twenty three percent of people store valuables in their underwear drawer.
  8. Forty percent of burglars enter through an unlocked door.

Source: Safewaise.com

Here are some of the ways to protect your home while you are on vacation:

  • Install a home security system.
  • Always keep your doors locked.
  • When away, never post your location on social media.
  • While on vacation, stop your paper and garbage services.
  • Tell your neighbors where you are traveling, and when you plan on returning.
  • Keep shrubbery trimmed around entrances, windows, and walkways.
  • Store grills and other items inside while gone.
  • Increase your outdoor lighting.
  • Keep blinds closed and inside lights on.
  • Have someone mow your lawn.
  • Ask a neighbor to park their vehicle in your driveway.
  • Do not keep any spare keys outside.

Here are a few tips to keep you safe while traveling:

  • Give a family member your travel schedule.
  • Take only the credit cards you need.
  • Advise your bank of your travel plans.
  • Don’t pack expensive jewelry.
  • Never show a large amount of cash.
  • Make copies of all of your credit cards, identification information, and medical insurance cards.
  • Wear sunglass if you are going to a sunny place.
  • Make sure you pack your medications.
  • Do not spotlight yourself as a tourist; most thieves find tourists are vulnerable targets.
  • Don’t take expensive luggage.
  • Travel with an anti-bacterial gel.
  • Make sure your hotel has a safe, and use it to store valuables and cash.
  • Drink bottled water.
  • Know your physical limitations.
  • Keep your hotel door locked at all times.
  • Go digital by scanning your travel documents.

Have you considered special insurance for your travel and summer needs?

Summer travel can increase your need for travel and other kinds of special insurance.  We wanted to provide some basic information about these kinds of insurance.  Please call our office for more information.

Travel Insurance

Travel insurance offers added coverage that can protect your family while on vacation.  Health insurance often does not provide coverage outside the United States.  Travel insurance can also provide other benefits such as:

  • Trip cancelation coverage.
  • Travel coverage to a medical facility.
  • Lost baggage.
  • Emergency medical and dental expenses.
  • Accidental death and dismemberment.

Travel insurance varies from insurer to insurer, and can be designed to meet your individual travel needs.  Here are a few examples of travel insurance claims:

  1. You booked a tour through a tour company and they went out of business. Purchasing trip cancellation/interruption coverage can help protect you from losing your investment due to such an occurrence.
  2. Your spouse gets ill while in a foreign country. Illness coverage is also included under travel insurance policies if you need to cancel your remaining travel plans.  It is important to remember that even if you are fit to travel, you may get sick or have an injury while traveling.
  3. You are in a remote location and have an illness or injury. Plans can include medical evacuation if needed.

How to Buy Travel Insurance?

The best way to buy travel insurance is through an independent agency like ours. We can help design a competitive travel insurance program that is suited best for your needs. We have access to a number of markets that will allow us to provide you with the best combination of coverage, price, and service.