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Burned to the Ground (Article PDF)
by Jeff Pray, Holmes Murphy & Associates - Insurance Brokers
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Jeff Pray, an insurance broker in South Dakota, has written a compelling story, "Burned to the Ground," about a client fire in December 2008. He has generously offered his story as an eye-opening guide to others.
As a risk ranager, I strongly recommend that this story be required reading for commercial insurance brokers and insureds alike.
read more: RiskSmart Tip #51»
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Note, Articles became RiskSmart Tips in 2007. For more recent content navigate to RiskSmart Tips under Resources at the left.
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What Risks Are Lurking in Your Customer Satisfaction Strategy? (Download PDF Version)
September 2006
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Do you want to grow your business and develop new customers? And do you agree that satisfying current customers is the best way to achieve those growth objectives? If you answered "yes," you are among most business owners, and you understand the everyday struggle to make this happen successfully.
As a risk manager, I'm always looking to help clients avoid unpleasant surprises and disasters.
read more»
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Want to Save Money on Workers' Comp? (Download PDF Version)
May 2006
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As a small business owner you've got to pay attention to your customers, your employees and the bottom line everyday. One area that merits your serious attention is how costly Workers' Compensation Insurance can be. There are many pitfalls in this complex arena, but also lots of ways you can minimize your costs and risk.
read more»
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Are You Prepared For A Crisis? (Download PDF Version)
January 2006
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With all the devastating news about hurricanes, tornados, snowstorms and floods, why are we so negligent in planning for catastrophes of any kind? Every day businesses are forced into crisis mode by natural disasters, business surprises and legal difficulties.
Are you prepared?
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Managing Risk (PDF only)
by Sharon Frederick, Comstock's Magazine - October 2005
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Whether you're a business owner or not, you would be wise to think about doing more than simply buying insurance, says risk-management consultant Charles Wilson.
When he advises businesspeople, he takes them through a six-step process, with insurance as the last step.
read more»
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Embezzlement: The Crime We Hate To Admit (Download PDF Version)
October 2005
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You may know about a business that's experienced employee theft or fraud. But many owners feel foolish and prefer not to talk about it.
American businesses lose $50 billion annually to employee dishonesty: that's $9 per employee per day.
read more»
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Do You Need E&O Insurance? (Download PDF Version)
May 2005
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Are you one of the increasing number of people today who are considered a "professional" by our legal system and your clients?
If you give advice - of almost any nature - and advertise yourself as an expert, you will probably be considered a professional under the law.
read more»
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What's New? (Download PDF Version)
January 2005
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A typical greeting in today's business world is, "What's new?" Often, people don't even expect an answer! The savvy businessperson wants very much to know. Here's why.
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Get The Best Broker, Coverage, Price & Service (Download PDF Version)
October 2004
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Insurance programs, like cars and people, need a regular check-up or review to ensure their vitality and fitness. A judicious review can bring significant benefits because business risks can change a lot in today's litigious world, and new ones can crop up without warning.
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Write It Down! (Download PDF Version)
May 2004
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Do you remember the adage, "Compliment in writing and in public; criticize in private - and verbally"?
How do you think that advice stands up in today's world of restrictive insurance policies and rampant lawsuits? The risks of non-documentation are staggering in today's business environment.
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Internal Risk - The Silent Killer (Download PDF Version)
January 2004
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Despite the heightened attention to external risk since September 11, the biggest threats to most businesses come from inside, and often are not covered by insurance. Eighty percent of companies that suffer disasters without contingency plans go into liquidation within 18 months reports Director magazine, June 1998.
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Manage Your Risk Profile (Download PDF Version)
October 2003
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Do duct tape and plastic sheeting form the cornerstone of your business security and protection plan? Were things ever that simple?
Here's the real question: How do you handle skyrocketing insurance premiums? If you take a common-sense approach to risk management, you can significantly reduce your risks, minimize your potential losses and save on insurance.
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What Are Your Assets Worth? (Download PDF Version)
September 2003
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Ever played Monopoly? In that board game, property values are crystal clear. You'll pay $1,000 for a hotel on Boardwalk, while a hotel on Baltic costs just $250.
Calculating the value of real company assets isn't nearly that easy.
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Reducing Risk in Mergers and Acquisitions (Download PDF Version)
August 2003
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Much has been written, discussed, and taught about lessons learned in mergers and acquisitions. However, they bear repeating because most executives still get it wrong. read more»
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Reasonable Risk or Dangerous Gamble? (Download PDF Version)
January 2003
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Anyone in business takes risks. Risk goes with the territory. Gambling with your business is another story entirely. The stakes are too high. Unless you assess your risks regularly and manage them effectively, you're betting with your business.
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Who's Watching Out for Murphy? (Download PDF Version)
May 2002
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Business owners have the prime responsibility to identify and manage their organization's risks - both those that accompany business and strategic opportunities, and the ones that arise from natural and human causes: fires, theft, loss of goods in transit, earthquake, customer dissatisfaction, defective products or services, worker injury, and errors in design, to name a few. read more»
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How Intangible are Your Organization's Assets? (Download PDF Version)
January 2002
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Much has been written about the need for small and mid size business owners to protect their "intangible assets." And the reference is usually to patents, copyrights, trademarks, trade secrets and computer data. read more»
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