Using Contracts to Protect Your Business

A business should use written contracts with hold harmless and indemnification agreements to its advantage. The days of handshake agreements are disappearing; they may be gone entirely. When hiring a contractor or service provider, or renting or sharing space within a building, only do so based on a written agreement. The agreement should contain as much detail as necessary to define what work is to occur, what service is to be provided, and how or when it is to be done.

All agreements or contracts should be drafted with the help of legal counsel. While sample contracts are available online, there is often a disclaimer at the bottom — a disclaimer is another term used to deny liability — saying that the website and sample creator are not responsible for errors, omissions or damages of any kind if you use the sample. This doesn’t mean the sample can’t be used to create a draft, but the draft should always be reviewed by legal counsel before it is implemented.

When drafting a contract or agreement, use language, as well as hold harmless and indemnification agreements, designed to protect your business. (more…)

The Dangers of Hold Harmless and Indemnification Agreements

Hold harmless and indemnification agreements are becoming increasingly important in business contracts. They are elements or clauses within a contract or agreement that can work to your business’s advantage, or they can just as easily work against your business. Hold harmless and indemnification are terms that are used interchangeably, but do not necessarily mean the same thing. As with many things, the devil is in the details — or in this case, the wording. (more…)

Business Contracts: Certificates of Insurance and Liability Limits

To better manage your business, you may hire outside experts or contractors to help maintain your facility or provide a service to your customers. You will enter into agreements when hiring these contractors, and you may be advised to obtain certificates of insurance. These are legal documents designed to protect your business from liability and financial harm. Let’s take a closer look. (more…)

Fire Preventive Maintenance for Deep Fryers

Many restaurants utilize some form of deep fat frying in their kitchen. These deep fryers are used to cook a variety of delicious foods: doughnuts, chicken wings, tortilla/potato chips, onion rings…the list goes on. While these items are undeniably popular and well-known throughout the world, little attention is given to the equipment that produces these tasty treats. This includes regular deep fryer maintenance and annual inspections by a qualified contractor.  (more…)

Improve Work Life Balance for Your Employees

Work life balance. This is a phrase that businesses highlight and employees desire. While work life balance is valued by many, what does it really look like?

Work life balance is achieved when career is balanced with lifestyle. As an employer, you may wonder…how can I provide a better work life balance for my employees? Here are some ideas: (more…)

Insurance Cost: Understanding Premium Audits

There is a process involved in determining insurance cost. There is also a process after a policy period expires to ensure that the policy premium was accurate – this is a premium audit, which is designed to guarantee that business owners only pay the premium they truly owe rather than a premium based on the estimated figures provided when their insurance policy was issued. The following information will help to explain the importance of the premium audit process. (more…)

Insurance Cost: Calculating Workers Compensation Premium

Remember when you couldn’t wait to turn 16 and obtain the freedom that comes with a driver’s license? Then the anticipation of turning 18, becoming an adult and being able to vote. And having your first cocktail at 21. For me, the next hugely anticipated milestone was 25 – the age when my car insurance premiums would go down!

Okay, maybe that was just me.

So, why am I talking about car insurance? Well, it’s because most people understand car insurance. We know, for example, that a 16‐year‐old boy driving a sports car typically pays higher premiums than a middle‐aged married woman in a minivan, right? Statistically, teenage boys are more likely to cause accidents, report claims, and cost insurers more money than middle‐aged women. As a result, their premiums are higher. This is how insurance works: the greater the loss potential, the higher the premium. (more…)

Heat Stress: When is Hot Too Hot?

It is that time of year again when the weather starts to warm up and we become more active outdoors. I was recently working in my backyard on the first 80+ degree-day of the year and began to get dizzy and disoriented. I started thinking to myself that I was encountering a heat-related illness – was it heat stroke, heat exhaustion, or possibly just heat cramps? So many terms and levels of danger! Heat stress is the general term used to describe heat-generated illnesses that result when the body is unable to cool itself through sweating. What should we know about heat stress and what can we do to prevent it? (more…)

Don’t Be Afraid to Unplug

It’s Saturday evening and you’re sorting through work emails. Just ten minutes turns into just a half hour…or longer. What you’re really supposed to be doing is enjoying time with your family, spending the night with your friends, or just relaxing at home – but you still haven’t unplugged. (more…)

Video: Business Auto Insurance

Your vehicles drive your business, and Society has the safety tools to keep them going no matter the obstacle. Whether your fleet is for retail delivery, local service, repair or something else, we customize your business auto coverage around how your operation runs for a smooth ride.

Plus, Society’s auto extension endorsement provides several enhanced coverage protections. (more…)