As we all prepare for the wonderful time of remembrance & celebration that is Easter – I just wanted to close our work week (yes, we will be closed to celebrate Good Friday) with an update on the commercial insurance State of the Market Q2.
Many of you are affected by insurance in a variety of ways, whether it be an annual expense that eats into your business’ profit or a resource that saved your business when disaster struck. Now, we all prefer the version of insurance where it plays the role of a HERO, but these days insurance has taken on a battle with quite the villain…
At Ark, we love to PUSH – so that our clients WIN! But lately, Personal Injury & Construction Defect lawyers have been doing everything they can to be sure that EVERYONE else loses, particularly the businesses that work hard to provide jobs for our local communities. And If you have been down I-45 in the last 3 years, you likely understand what I am referring to.
So, how as a business do you prevent yourself from being the victim of the next billboard…
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Install Dash Cameras (These little devices are worth their weight in gold & YOU DO NOT NEED IT TO BE MONITORED FOR IT TO BE EFFECTIVE)
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Transcend DrivePro Systems (B&H)DrivePro 250 (forward facing system) BH#: TS64GDP230A-CAM https://www.bhphotovideo.com/c/search?Ntt=TS64GDP230A-CAM&N=0&InitialSearch=yes&sts=ma&Top+Nav-Search=
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Invest in Employee Training & Document it!!! (I hate saying this, but if it is free – the training is likely worth the cost…)
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Proper Driver Onboarding is critical
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Proper Work Practices & Safety Training is essential – BE ABLE TO PROVIDE PROOF THAT IT HAPPENED!
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P.I. Lawyers can practically double their demand in Texas courts when training is not documented or practiced… Because don’t forget – your own employee might be the one filing the lawsuit.
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As the ole’ saying goes – “an ounce of prevention beats a pound of the cure”
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Incentivize Doing Things Right!
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Reward workers that exhibit sound safety practices on a regular basis!
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Like the gold star or lollipop we used to get as kids – find something that incentivizes your employees to be the best version of themselves. (Maybe even make it an internal competition!)
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I know this was a lot less of an update, and more of a list of recommendations – but having dealt with recent claims I believe this update is the best way we can PUSH our customers, so they WIN on their renewals.
As always, if we can ever be a sounding board or a resource – please do not hesitate to reach out.
Beyond that, I hope you all have a wonderful Easter & God bless!
