Peabody Insurance Blog


The ABCs of D&O Insurance Agreements

Aug 29, 2017

The ABCs of D&O Insuring Agreements The coverage afforded by directors and officers (D&O) liability insurance policies can vary significantly from one policy to the next. Thankfully, most D&O policies follow a common format that allows policies to be easily read, understood and compared by policyholders and their insurance brokers. A standard D&O policy has three insuring agreements, often referred to as sides A, B and C. These insuring agreements specify the degree of coverage provided by a D&O policy and summarize the promise by the insurer to indemnify the policyholder from loss... Read more...

Safeguarding your wine collection

Aug 29, 2017

Article Courtesy of: Cincinnati Insurance Companies A wine collection is a wonderful thing, and a personal one at that — a selection of your favorite wines, aging quietly and, one hopes, increasing both in quality and value. You have invested time and effort into building your cellar. Take steps to ensure that your wine is protected. The quality and consistency of your storage is critical. The worst thing for wine is rapid temperature fluctuation, which speeds up the deterioration of the wine and prevents the slow development that produces exquisite, mature wine. Keep a consistent temp... Read more...

The Good Student Discount

Aug 29, 2017

The good student discount is an auto insurance discount provided by carriers that benefits students financially for their academic achievement. In other words, this discount offers reduced premium rates for current students that maintain a specific GPA or other measurable level of success in school. The Journal of Accident Analysis and Prevention found in a recent study that students with a C or D average in school are 49 percent more likely to get into a car accident than those with an A or B average. As a result, students with an A or B average are labeled as low-risk drivers by car insu... Read more...

Basic Loss Control Techniques

Aug 29, 2017

Basic Loss Control Techniques Protecting your business from cyber risks can be an overwhelming venture. A new day means more viruses are being discovered, more spam is being delivered to your inbox and yet another well-known company is the victim of a data breach. The world will never be free of cyber risks, but there are many loss control techniques you can implement to help protect your business from exposures. 1. Install a firewall for your network. Operating systems often come with pre-installed firewalls, but they are generally designed to protect just one computer. Examine the... Read more...

Ransomware and Your Company

Jul 28, 2017

Ransomware Ransomware is any type of malicious software that infects a computer and either prevents it from working as it should or prevents access to certain files until the user pays a ransom. Typically, the hackers behind the ransomware demand bitcoin—a type of digital currency that is difficult for police to trace. Businesses of all sizes have become targets of ransomware, as it can infect not only personal computers, but also entire networks and servers. How Ransomware Can Spread There are different ways that ransomware can spread, including the following: Visiting fa... Read more...

The Story Your MOD Reveals

Jul 27, 2017

For many employers, workers’ compensation insurance is all about one number—the premium quoted. Understandably, employers want to pay the lowest amount possible on this mandatory coverage. While some brokers try to compete on a low bid, those who do miss the chance to educate employers on how their mod affects their premium, and how lowering their mod through targeted improvements in safety, hiring, return to work and other areas will ultimately improve both their direct and indirect workers’ compensation costs. What does your mod reveal? While the mod itself is a single number, an analy... Read more...

Snapchat

Jul 27, 2017

What is Snap Map? Introduced in a June 2017 update, Snap Map allows users to share their exact location with their friends within the Snapchat app. Snap Map gathers location data using a smartphone's GPS sensor and displays the time of day an individual is at a specific location and his or her speed of travel. This information is shown on a map that can be accessed when a user first opens Snapchat and pinches the screen to zoom out. While Snapchat users can choose to share their location with selected friends, any posts users share on Snapchat's "Our Story" feature will appear on the global ... Read more...

Life insurance can protect family from college debt

Jul 27, 2017

Life insurance can protect family from college debt As college graduates take the next step, one thing is often left out of the process – life insurance. Young adults often carry debt with them into the working world, whether from student loans, car loans or credit card debt. If you are a recent graduate, have you considered what could happen if you were no longer around to cover your loan payments? Would your loved ones struggle to make ends meet? Many people do not realize that – depending on their loan agreement – their spouse, cosigner or estate might be responsible for paying off... Read more...

Using Fireworks Safely

Jun 29, 2017

"Even mild fireworks such as sparklers can get hot enough to burn through clothing. To prevent burn injuries, exercise extreme caution when lighting and holding fireworks, and monitor your children closely while celebrating." Wendy Light | wlight@peabodyinc.com Firework Safety Recommendations: • Read and follow the manufacturer’s safety instructions and warnings. • Do not try to make your own fireworks; use only those that are commercially manufactured. • Only light fireworks outside in an open space. • Obey local ordinances regarding private fir... Read more...

Driver Safety - You’re in the driver’s seat.

Jun 29, 2017

"When it comes to minimizing your risk of collision while driving, you’re in the driver’s seat" Jo Schofield | jschofield@peabodyinc.com Simply by practicing safe driving techniques, you can reduce your chances of being involved in an auto accident. In addition to being aware of your surroundings and making prudent driving decisions, the following tips will help you arrive at your destination safely. Drive Defensively Defensive driving requires you to be aware of driving errors made by other drivers around you, and consequently make adjustments to your dri... Read more...

Major Fireworks Recall Ahead of 4th of July Weekend

Jun 29, 2017

"Did you recently buy fireworks from Illinois, Wisconsin, Ohio, or Vermont? Read this article to learn more about the recent recall!" Teresa Taylor | ttaylor@peabodyinc.com The U.S. Consumer Product Safety Commission has issued a recall for over 36,000 “Red, White, & Blue Smoke” fireworks manufactured by American Promotional Events and sold under the TNT Fireworks brand. These fireworks can explode unexpectedly after being lit and have already led to three reports of burns to consumers. The Red, White, & Blue Smoke fireworks are pyrotechnic devices th... Read more...

Construction a Critical Time for Fire Protection

Jun 29, 2017

Building or remodeling a home or business is an exciting time, filled with many decisions. One consideration that’s easy to overlook is adequate fire protection. During construction or renovation, your home or business is most susceptible to fire. In a recently published report by the National Fire Protection Association (NFPA), during the years 2010-2014, U.S. fire departments responded to an average of 8,440 fires in structures under construction, undergoing major renovation or being demolished. These fires resulted in $310 million in property damage each year. Luckily, some simple an... Read more...

Avoiding Workplace Concussions

May 30, 2017

"In most cases, concussions in the workplace are caused by avoidable accidents. Read this article to know the symptoms of a concussion and how to prevent them in your workplace." Wendy Light | wlight@peabodyinc.com Concussions are a safety risk at just about every workplace and occur when the brain shakes inside of the skull. Generally, concussions are caused by severe blows to the head or body sustained from falls, being struck by an object, motor vehicle collisions or other type of impact. In the event of such force, the spinal fluid that surrounds the brain is unable to... Read more...

Restroom Access for Transgender Worker

May 30, 2017

"OSHA requires all employers under its jurisdiction to provide employees with sanitary and available toilet facilities so that employees will not suffer the adverse health effects that can result if toilets are not available when employees need them. This article provides guidance to employers on best practices regarding restroom access for transgender workers. OSHA’s goal is to assure that employers provide a safe and healthy working environment for all employees." Jo Schofield | jschofield@peabodyinc.com Understanding Gender Identity Many workplaces provide separate ... Read more...

Reducing Choking Hazards for Small Children

May 30, 2017

"Did You Know that according to Emory University, choking is the fourth leading cause of death for children under the age of 14. Follow these safety tips to keep your loved ones safe!" Danielle Allen | dallen@peabodyinc.com Choking occurs when the brain goes without oxygen for more than four minutes, causing brain damage and death, and is the leading cause of death in infants and toddlers. If you are the parent or guardian of a small child, it is your responsibility to protect your child from danger. Foods such as hot dogs, whole grapes, nuts, raisins, hard candies and pop... Read more...

Head Out on the Lake without Injury

May 30, 2017

"Water sports, relaxing in the sun and splashing in the water are great ways to make memories with family and friends. Sea lovers must be careful near the marina and dock, though, to assure that their getaways are safe ones. If you are hitting the open waters this season, don’t forget these safety tips!" Teresa Taylor | ttaylor@peabodyinc.com Docking Tips: Use forward and reverse at an idle speed when docking and moving your boat near the marina. Have bumpers, mooring lines and boat hooks ready before docking. Keep all body parts in the boat until yo... Read more...

Make Security Your Top Priority

Apr 27, 2017

"Though a home security system may seem like an expensive investment, it is actually very economical considering that you may get a discount on homeowners insurance premium for having the system in place. This is because these alarms protect against liabilities - theft and vandalism." Teresa Taylor | ttaylor@peabodyinc.com Home Security Keeping your home and family safe should be one of your top priorities, as you rarely get a second chance to take precautions against a home invasion. There are several things that you can do, including purchasing a home security system, which... Read more...

Understanding Total Cost of Risk

Apr 25, 2017

"Understanding your total cost of risk and your ranking helps identify areas where your organization can save money." Wendy Light | wlight@peabodyinc.com Risk exists everywhere in business. One of the biggest mistakes that companies make is assuming that the cost of risk only involves their insurance premiums paid, retained losses and administrative costs. However, the total cost of risk encompasses much more than that. While a risk management program can be an effective method for controlling risk, the resources used by the program may not be addressing all the risks faced... Read more...

Help your employees fight distracted driving

Apr 25, 2017

"Did you know that employers can establish training programs to battle behaviors that result in distracted driving? Learn more from this article by Cincinnati Insurance" Jo Schofield | jschofield@peabodyinc.com Article Courtesy of: Cincinnati Insurance  Every business owner wants to see that employees get safely to the jobsite or that cargo or products are safely delivered to their customers. Every year, distracted driving becomes a bigger barrier in the way of that goal. The primary task of anyone behind the steering wheel of a car or truck is to safely control t... Read more...

Save For Your Children's Future

Apr 25, 2017

"Did you know that college-bound children's parents can expect to pay at least a half to a third of the cost of their children's education with their current income, savings and loans. The sooner you start saving, the better off you will be in the end, check out these easy tips to learn more." Danielle Allen | dallen@peabodyinc.com SAVE FOR YOUR CHILDREN’S Use these tips for easy saving: Start saving the day your baby is born and save as much as you can. Compounding interest will also make your savings grow. Save money on a consistent basis rather than ... Read more...

Congratulations To Our Dale Carnegie Graduates

Apr 20, 2017

Congratulations to the 7 Peabody Insurance team members who recently graduated from the Dale Carnegie Training Course - Effective Communications & Human Relations. "This effective communication training course will help you master the human relation skills demanded in today's tough business environment. You'll learn to improve human relations skills, increase communication effectiveness, strengthen interpersonal relationships, manage stress and handle fast-changing workplace conditions. You'll develop more effective communication skills and be better equipped to perform as a persua... Read more...

Heart Health

Mar 28, 2017

"Your heart beats over 100,000 times per day. Read these tips on how to improve your heart health!" Teresa Taylor | ttaylor@peabodyinc.com Article Courtesy of: Mayo Clinic Lifestyle and home remedies Heart disease can be improved — or even prevented — by making certain lifestyle changes. The following changes can help anyone who wants to improve heart health: Stop smoking. Smoking is a major risk factor for heart disease, especially atherosclerosis. Quitting is the best way to reduce your risk of heart disease and its complications. Control your... Read more...

Employment Practices Liability Scorecard

Mar 28, 2017

"As a business leader, you make important personnel decisions on a daily basis. From hiring new workers to assigning duties, each of your decisions affects employees in a unique way. Although these actions are critical to running your business, they also create exposures that could lead to costly claims by employees or governmental regulators." Dave Lucas | dlucas@peabodyinc.com As a business leader, you make important personnel decisions on a daily basis. From hiring new workers to assigning duties, each of your decisions affects employees in a unique way. Although these actio... Read more...

Tenants’ Improvements and Betterments

Mar 28, 2017

"If the lease requires the landlord to repair or replace tenants’ improvements and betterments that become damaged, the tenant does not need to insure them. In contrast, if the lease does not require the landlord to repair or replace tenants’ improvements and betterments, tenants need to make sure they are covered under their own property policy." Brenda Boomer | bboomer@peabodyinc.com Suppose that a landlord leases a storefront to a retailer that makes improvements to the facility by adding features to help sell its products. During the lease, a fire breaks out a... Read more...

Beyond life insurance: Helpful tips when a loved one dies

Mar 28, 2017

"After the loss of a loved one, you may be faced with the overwhelming responsibility of making funeral arrangements, notifying friends and family and handling the estate. During that time, it is often very hard to think of all the things that need to be done and what questions to ask. Having a clear picture in advance can help alleviate additional stress." Danielle Allen | dallen@peabodyinc.com Article Courtesy of: Cincinnati Insurance After the loss of a loved one, you may be faced with the overwhelming responsibility of making funeral arrangements, notifying friends and f... Read more...

Cyber Tips for Small Businesses

Feb 27, 2017

"With cyber crime on the rise, small businesses need to be just as cautious as large businesses in preventing security breaches." Wendy Light | wlight@peabodyinc.com According to a recent internet security threat report, small businesses have increasingly become targets for cyber criminals. With over 40 percent of cyber attacks targeting small businesses, it is important to not only lower the risk of an attack but also be prepared if one occurs. The following simple, economical steps can help reduce your risk of falling victim to a costly cyber attack: 1. Equip each of... Read more...

Renting Your Home

Feb 27, 2017

"You may be considering renting out your home for extra income while you’re away for an extended period of time. Though this seems like an ideal solution for families with extra room to spare, it can pose liabilities. Take the following considerations to heart in order to protect your home." Danielle Allen | dallen@peabodyinc.com Ask for references from potential renters, especially those that will stay for a while.     Draw up a rental agreement that defines the terms of the rental, including restrictions, liabilities and occupancy guidelines. ... Read more...

Position Yourself for Workstation Comfort

Feb 27, 2017

"Sitting with proper posture will ensure your daily comfort and improve your physical well-being!" Teresa Taylor | ttaylor@peabodyinc.com Article Courtesy of: Cincinatti Insurance Companies Millions of workers spend their days in front of a computer screen. To stay comfortable and prevent strain or injury, make sure your chair, desk and screen are arranged to fit your needs. Read our infographic for suggestions to help you stay comfortable and productive. The Occupational Safety and Health Administration has additional resources to help you make sure your head, feet and bo... Read more...

5 Cyber Security Tips for Your Business

Feb 27, 2017

"Don’t wait until after it is too late. Implement cyber security practices at your company today!" Brenda Boomer | bboomer@peabodyinc.com Article Courtesy of: Insurance Market Source Cyber security is a topic that is discussed often times too late. Many business owners do not realize that one of the biggest security threats they have is right in front of them—their employees. When thinking about security, business owners need to look inward, not outward for their first line of defense. 1. Authentication management is crucial Passwords and securing entry... Read more...

Delivering Tomorrow: Logistics in 2050

Jan 23, 2017

"With the creation of Airbnb and Uber, many industries are wondering if they will continue to stay relevant as technology finds new ways to solve problems. Deutsche Post DHL Group commissioned this study to explore what the future will look like in 2050, and how the logistics industry will need to adapt." Dave Lucas | dlucas@peabodyinc.com Article Courtesy of DHL  Will we be able to create sustainable prosperity, or are we on the way to a climate crash? Is the world interconnected or fragmented? Which new technologies shape our everyday lives? In a new study entitled &... Read more...