Cost of Risk

Terminating a Workers’ Comp Claimant in Texas

The outcome of a Workers’ Compensation claim can be affected by the termination of an employee who was injured on the job. An employer can discipline the employee for not following policies and procedures, but should carefully consider the pros and cons of termination. Developing a solid safety program and managing risk in the workplace is

 

Insurance Premium Audits -Tool For Managing Cash Flow

Insurance Premium Audit - A Tool For Managing Cash Flow

Audit... a term all business owners have seen before and often consider a bad thing. But, when used properly an audit can become an opportunity to help conserve cash flow at key times during the year. Whether your audit experience has been positive or negative, there are a few ways to properly organize your records and prepare documen

 

OSHA Recordable or First Aid Only? The Manager's Dilemma.

As a manager, few things are worse than getting that phone call saying one of your people has been injured. So many questions come to mind. What happened? How serious is it? All of these thoughts spring to mind. Do they need outside medical care? How do I know if I need to send them to the doctor? Is this a recordable injury? How will this affect my OSHA Recordable Rate?

 

Liquidity Risk: A Ratio Story

You and your team have been working hard. Sales are up, as is company morale. Yet, you're still finding it difficult to meet your obligations in a timely manner. What is going on? Where can you find answers? A good place to start is with the balance sheet and a few ratios.

 

Here Comes OSHA

OSHA audits can be stressful and the citation penalties severe. But if you've developed good safety programs and are prepared for this inspection, costly partialities and downtime can be avoided. An official audit, or inspection, by the Occupational Safety and Health Administration (OSHA) can be tolerable, and even...

 

Risk Decisions: Properly Delegating Authority

Who makes decisions on risk in your business? How are those decisions made? I was having lunch the other day with a colleague of mine who is the risk manager of a large organization with a complex risk profile. The very nature of the company's operations makes risk management a primary topic in almost every conversation the company...

 

Fuel Cost Control Strategies for Budgeting and Savings

For companies with trucks on the road today, one of the greatest risks is fuel pricing. Fuel costs make up approximately 39% of a motor carrier’s operational costs, making it the single highest cost center...even more costly than driver wages and benefits combined. A budget item of this size has got to be strategically managed.
 
 

Why Should a CFO Care About Sustainability?

Simply stated, corporate profitability comes from maximizing topline revenue and minimizing  expenses. Many businesses employ financial executives, such as Chief Financial Officers, to help strategically manage their finances and ensure profitability. They crunch numbers, analyze cost/benefits, and advocate doing more with less. It’s

 

4 Key Steps to a Risk Management Plan

Every business has risks but not every business is aware of them, or prepared for them. How confident are you about the risks facing your organization? Often, the reality of risk only becomes apparent when a catastrophe occurs. If you’re completely confident that you have identified and prepared for all risks, then read no more. Still 

 

Are You Prepared for a Hardening Insurance Market?

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Most businesses with moderate claims activity have seen their premiums decrease annually for nearly a decade. Most business owners think that trend should continue if they don’t have any terrible claims. Unfortunately, the exact opposite is the case.  Unless you have exceptionally low claims activity, your premiums are likely to rise sharply in the near future.