The Factoring Option: Access To Capital

Factoring is a transaction in which accounts receivables are converted into cash through a purchase and sale agreement with a financial company. This allows the business to receive needed cash resources quickly without waiting for accounts receivables to convert. Factoring can be a very useful tool to many companies that need access to

 

Rising Workers’ Compensation Claims Costs and The Benefits of Return-to-Work Programs

The costs of Workers’ Compensation claims are on the rise. In a report released by The Texas Department of Insurance (TDI) on September 6, 2014, the average total incurred loss per closed claim is $19,403 (indemnity $9,206 per claim, medical $10,198 per claim). The average length of time a Workers’ Compensation claim is staying open is 

 

Avoiding Fall Season Safety Spikes

The Fall season is historically one of the worst times of the year for safety throughout the country. No matter what type of work is being done, this season always seems to have a spike in accidents and injuries. There are many factors that contribute to this phenomenon. Changes in weather, later sunrises and earlier sunsets, more people on

 

Driver Qualification Files: The Complete Package

Of the many regulatory requirements that fleet operators must navigate, the rules under 49 CFR Part 391.51 must be followed on a frequent basis. Although this code may not be recognizable by its regulatory part number, many carriers are familiar with its contents: the general requirements for driver qualification files. Every motor carrier must maintain a driver qualification file for each driver it employs. Sounds easy, right? Well, it can more difficult than you think.

 

Not Guilty – Removing Violations from Carrier and Driver Records

Beginning August 23rd, 2014, motor carriers and drivers are now able to remove roadside inspection violation data collected in the Motor Carrier Management Information System (MCMIS) to reflect the outcomes of adjudicated citations. The ability to have a violation’s severity reduced or removed from the MCMIS system can 

 

Turning Insurance Into a Profit Center

Today, your company probably purchases insurance from the traditional insurance market. This process works for many companies, but for the right type of company there is a much more efficient model called a captive. Rather than allowing an insurance company to make an underwriting profit from your company’s great year of

 

FMCSA Applicability to Government Fleets

Many government fleet managers are unsure if, or how, Federal Motor Carrier Safety Administration (FMCSA) regulations apply to their fleet. At the same time, many managers are opting to adopt more, if not all, of the FMCSA regulations as their fleet guidelines. For some managers, this is a conscious decision to follow more regulations

 

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?

 

Unlocking the Future of Fuel: Changing Variable Costs into Fixed Costs

Risk transfer. When those words are heard it is usually in the form of covering a potential loss utilizing insurance. A business provides funds in the form of a premium in exchange for insurance to cover the potential financial consequences of a hazard risk. However, there are alternative ways to transfer risk. One of those ways is known as hedging.

 

The Palest of Ink Speaks Louder Than the Best of Memories

"The palest of ink speaks louder than the best of memories," these were the words of a seasoned Department of Transportation official during a recent U.S. DOT Motor Carrier Safety Compliance Course. This variation on the old adage “if it's not written down, it didn’t happen” speaks volumes about the importance of paper compliance...

 

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