Posts

What Does Your Agent Talk To You About?

When you meet with, or talk to, your insurance agent, what are the topics of conversation?  Do you only talk about your bill, or why your premium has increased?  Is the only time you hear from your agent when they try to sell you additional coverage? Some agencies even try to dissuade you from talking to your agent!

We are here to provide a different approach.  We recommend talking to your agent at least once a year—or even more if needed.  Communication is the key to all good relationships. We will reach out to you and talk to you about the following:

  1. How is your claim being processed?  Can we assist you with the process?
  2. Did you receive a copy of your policy?  Do you have any questions?
  3. Have you made any major purchases like a new car, boat, or other high-end items?
  4. I know you have a wine collection; did you purchase any new bottles that need to be insured?
  5. Your son Travis is heading off to college; we might want to review your auto coverage.
  6. How is your new job going? Do they offer life insurance, or would you like to look at some options?
  7. Have you thought more about identity theft coverage?
  8. These days, many people are driving for a ride-sharing company, is there anyone in your house doing this?

These are just some examples of what our conversations might look like. Of course, we always start our conversations with “Good day it is great to connect,” and end with “Thank you for your business, we value our relationship and love serving you.”

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.

Small Business Insurance

As a small business owner, you wear many hats, including owner, manager, human resource manager, sales manager—and even window washer.  Because there is so much to do, you may not spend time thinking about your business insurance, but you should.  Recent studies by the Insurance Information Institute found that over 50% of small businesses never reopen after a severe loss.

Commercial General Liability & Auto Insurance covers claims from accidents, injuries, or negligence when the business is at fault.  Small businesses can face a wide array of  damage charges like personal injury, property damage, libel, and slander.

Cyber Liability Insurance covers the risk posed by conducting business over the Internet, over other networks, or using electronic storage technology.  It covers third party losses from hackers, theft, and loss of information including sensitive client or individual personal information.

Directors and Officers Liability covers costs, damages, and defense protection for directors and officers of a company for lawsuits and judgments arising out of poor management decisions, employee dismissals,    shareholder grievances, and other such acts committed in good faith.

Employment Liability Insurance provides protection for an employer against claims made by employees, former employees, or potential employees.  It can cover discrimination (age, sex, race, disability, etc.),  wrongful termination of employment, sexual harassment, and other employment-related allegations.

Professional Liability Insurance is designed to cover third party claims and damages arising out of providing professional advice.

Workers’ compensation insurance is usually required by law for small businesses with employees.  This insurance provides benefits for employees who are injured or die from job-related causes.

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.

 

 

Employment Practices Liability Insurance

Employment Practices Liability Insurance

The number of lawsuits filed by employees against their employers has been rising. While most suits are filed against large corporations, no Missoula EPLI Insurance company is immune to such lawsuits. Recognizing that smaller companies now need this kind of protection, we provide this coverage as an endorsement to our Business owners Policy (BOP).

EPLI provides protection against many kinds of employee lawsuits, including claims of; Sexual harassment, Discrimination, Wrongful termination, Breach of employment contract, Negligent evaluation, Failure to employ or promote, Wrongful discipline, Deprivation of career opportunity, Wrongful infliction of emotional distress,  Mismanagement of employee benefit plans

The cost of EPLI coverage depends on your type of business, the number of employees you have and various risk factors such as whether your company has been sued over employment practices in the past. The policies will reimburse your company against the costs of defending a lawsuit in court and for judgments and settlements. The policy covers legal costs, whether your company wins or loses the suit. Policies also typically do not pay for punitive damages or civil or criminal fines.  iabilities covered by other insurance policies such as workers’ compensation are excluded from EPLI policies.

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.