Peabody Insurance Blog


4 Reasons Small Businesses Decline EPLI Coverage

Sep 17, 2018

Many owners of smaller businesses make assumptions about Employment Practices Liability Insurance – and some of those assumptions are not true. EPLI coverage provides vital protection for a small business. EPLI provides a limit of insurance, separate from the standard commercial policy, to protect your business operations against many actual or alleged wrongful acts. Those could include personnel and staffing matters, hiring and firing or allegations of discrimination in the workplace. Because circumstances can vary widely, it’s important to assess your situation, consult wit... Read more...

Does Business Insurance Cover The Costs Of a Product Recall?

Sep 17, 2018

A well-known food company recalled two brand-name food products after four customers reported finding metal parts in their food. One of the world’s best-selling auto brands faced an airbag recall. And lettuce grown in Arizona caused dozens of illnesses in 35 states. Product recalls like these are often in the news. They’re especially prominent when the federal government mandates that a company pull a supply of its product off the market based on safety concerns that affect consumers. A business can also trigger its own product recall when it suspects a defect or tampering coul... Read more...

Guns in the Workplace

Aug 29, 2018

Under the federal Occupational Safety and Health Act, businesses are required to maintain safe workplaces. “Employers take very seriously the importance of making rules for the workplace and establishing a particular tone or culture within its employee teams,” notes John Harrison, an attorney with Ogletree Deakins in Dallas and Nashville, Tenn. Those efforts generally include prohibiting dangerous items like guns and knives as well as disruptive behaviors such as drug use, gambling and fighting. So how can HR professionals reconcile their workplace safety obligations with emplo... Read more...

Adding a teen driver to an auto policy? Prepare clients with these industry statistics

Aug 29, 2018

Below is a look at how teens drive these days. This information will give you and your client a better understanding of the risks teen drivers pose so that you can help guide them through this important life event, provide ways for them to save money and most importantly, prepare them for a conversation with their teen about driving safety. Next steps To help ease the pain point of the associated teen driver rate increase talk to your agent about any discounts available.  ... Read more...

The $10,000 Work Comp Claim May Be Costing Your Company An Additional $17,000 - $35,000 In Insurance

Aug 29, 2018

Insurance is complex. Our firm delivers tens of thousands of insurance policies on an annual basis and I would predict that less than 1% of them are opened and read. Why? It is because insurance policies are confusing and in today’s fast paced business climate, business owners and company employees have much better (more profitable) use for their time. Sound about right? There is one exception... If you want to control your insurance cost - understand your Experience MOD. What is an experience MOD? It is a factor built into your work comp program that will make a $10,000 work co... Read more...

3 Questions to Ask When Addressing Sexual Harassment at Your Business

Apr 25, 2018

It’s always been important to protect your business and employees from sexual harassment, but recent high-profile cases show the importance of re-examining this topic at your business. Social movements such as the “Me Too” campaign have drawn attention to sexual harassment in the workplace, resulting in a growing number of misconduct allegations. These allegations can result in a wide variety of claims and lead to serious financial and reputational damage. Insurance carriers, courts and regulatory agencies will begin to examine businesses closely to ensure that they take ... Read more...

Know Your Personal Insurance

Apr 25, 2018

Personal Insurance Solutions Our clients rely on us to creatively assist them with their insurance and financial needs to protect what matters most. We offer a full range of automobile, home and life insurance solutions, along with loss prevention, health and safety tips to help minimize claims, reduce your personal risks and promote your well-being. The insurance professionals at Peabody Insurance Agency can assist you in selecting the most comprehensive coverage, provided by highly-rated insurance companies. Automobile Insurance From vehicles to motor homes to motorcycles... Read more...

Ransomware Insurance

Apr 25, 2018

Ransomware Insurance With ransomware attacks on the rise, the role of insurance is becoming more robust. And, although ransomware coverage has been traditionally sublimited within cyber policies, stand-alone cyber policies that cover ransomware are becoming more necessary. In an attempt to find additional coverage for ransomware, many businesses and carriers have been turning to kidnap and ransom (K&R) policies. K&R policies have traditionally been used by organizations to protect their executives, not to protect against ransomware. Because K&R policies were not designed... Read more...

Helpful tips to locate a life insurance policy

Apr 25, 2018

After the loss of a loved one, it can be a challenge to locate a life insurance policy … or even know if one exists. After all, it may have been issued 40 to 50 years ago. Here are tips to help find out if your loved one had an active life insurance policy or annuity contract. Search personal files and records Look through safe deposit boxes and filing cabinets. Check bank statements for names of companies where bills were paid. Review tax returns to see if a policy withdrawal or loan was indicated on a return. Watch the mail for premium notices that the company may send because i... Read more...