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Insurance People of North Carolina

What All Cyber Criminals Know and What You Should Know About Them

By Business Insurance, Insurance People of North Carolina

All too often, small and midsized businesses are taken advantage of by cyber criminals. In fact, according to Chubb, more than half of all cyberattacks are directed against small and midsize enterprises (SMEs) and that number is steadily increasing. Here are some further important details related to this subject: 93% of SMEs that have experienced a cyber incident reported that it had a severe impact on their business. Almost all SMEs affected by a cyber incident reported a loss of money and savings. 31% of SMEs reported damage to their reputation, which eventually lead to a loss of clients, as…

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Why Builder Lumber Prices Remain Higher than Headlines Suggest

By Business Insurance, Insurance

*The following blog uses information from NAHB’s article on the subject. We credit NAHB for providing us with this information. According to the NAHB, lumber prices have declined approximately 56% since May 10, 2021. While that seems like good news at first glance, on closer inspection it becomes clear that the situation is still less than ideal for the construction industry. In fact, the NAHB states, “While the price of framing lumber has dropped roughly 50% over the past seven weeks according to Random Lengths, prices paid by builders have declined by a fraction of that amount.” To better understand…

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Work Comp Wednesdays – Workers’ Compensation Insurance Fraud 101

By Business Insurance, Workers Compensation

  Welcome to Work Comp Wednesdays! Insurance People is the industry-leader in North Carolina workers’ compensation insurance. Each week, our team takes a frequently asked question and expands on the issue for our clients, prospective clients, and community members to better understand the confusing nature of Work Comp. Background: Despite being illegal, Workers’ Compensation Insurance fraud occurs all too often. Each year, billions of dollars are stolen in the United States due to fraudulent claims and misreported business information. Not only does this misrepresentation adversely affect the business, but it can also affect the state’s workers’ compensation insurance rate system….

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National Safety Month Tips

By Business Insurance, Workers Compensation

As a risk-management driven agency, Insurance People’s goal is to not only offer you appropriate coverages that protect your organization but non-insurance solutions to decrease costs long-term. Because of this, we are always looking for new ways to assist our clients regarding safety. Since 1996, the National Safety Council (NSA) designated June as National Safety Month. Their goal was, “to increase awareness of the leading safety and health risks facing employees and decrease the risk for workplace injuries and deaths in the U.S.”. This year, National Safety Month will focus on the four different weekly topics listed below: Week 1:…

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Not A Risk Worth Taking

By Business Insurance, Insurance People of North Carolina, Specialty Insurance

Recently, our friends at Builders Mutual Insurance Company posted a blog titled, “Not a Risk Worth Taking: Why a Builders Risk Policy is for everyone”. This blog is incredibly useful for all contractors looking to fully protect their jobsite during the course of construction. Below you will find some excerpts from the BMIC blog: “As a business owner, you care about protecting yourself, your business, and your employees. You may already have a General Liability policy and a Property policy, but is each of your building projects covered during the course of construction? Here, Jennifer Morgan, an Assistant Underwriting Operations Manager…

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How Builders Are Dealing With Rising Lumber Prices

By Business Insurance, Insurance, Specialty Insurance

As many of our NC Builders are all too aware, the United States is facing a lumber shortage in 2021. This is most likely a result of the lumber mills being forced to shut down during the pandemic; however, Americans are not blameless. During the 2020 quarantine, it is fair to assume that many people took part in DIY projects to help them occupy their time. Simply based on the definition of supply and demand, this played a part in the lumber price increase.  Fortunately, the National Association of Home Builders (NAHB), “Continues to work tirelessly to combat rising lumber…

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6 Ways to Create More Engaging Safety Meetings

By Business Insurance, Workers Compensation

To ensure that their employees are up to date on company issues, specifically safety, safety meetings should be a high priority for ALL small businesses. At its core, a staff meeting is meant to be informative, motivational, and productive; however, this is not always the case. According to Employers Insurance, “Few things draw groans, sighs or yawns from workers quite like calling a staff meeting. Meetings can be tedious and unproductive, annoying interruptions to an otherwise productive workday.” Safety programs not only protect workers from on-the-job injuries, but they also save business owners money. The National Institute of Building Science…

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Work Comp Wednesdays – Occupational Safety and Health Administration’s (OSHA) Resources for Improving Workplace Safety

By Business Insurance, Insurance People of North Carolina, Workers Compensation

Welcome to Work Comp Wednesdays! Insurance People is the industry-leader in North Carolina workers’ compensation insurance. Each week, our team takes a frequently asked question and expands on the issue for our clients, prospective clients, and community members to better understand the confusing nature of Work Comp. Background: The purpose of the Occupational Safety and Health Act of 1970 is “to assure safe and healthful working conditions for men and women; by authorizing enforcement of the standards developed under the Act; by assisting and encouraging the State in their efforts to assure safe and healthful working conditions; by providing for…

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Breweries and the Craft of Managing Risks

By Business Insurance, Insurance People of North Carolina, Specialty Insurance

Insurance People is fortunate enough to work with many breweries and distilleries across the East Coast. Because of this, we are always looking for new ways to educate our clients. As Risk Advisors, our goal is to not offer you appropriate coverages that protect your organization but also offer non-insurance solutions to decrease costs long-term. Travelers Insurance wrote a blog titled, Breweries and the Craft of Managing Risks, which focuses on unique ways for businessowners to further protect their brewery. According to Travelers, “Brewers typically understand how important it is to have clean tanks and productions lines, because the impact…

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An Employer’s Guide to COVID-19 Vaccines

By Insurance, Workers Compensation

As the COVID-19 vaccine continues to become more available across the country, employers should learn what this means for their employees returning to work. Because this is such a sensitive subject, we wanted to make sure that we accurately provided all of the pertinent information for you. The attached article, published by AmTrust Financial, touches on guidelines from the U.S. Equal Employment Opportunity Commission (EEOC), as well as the steps employers should take as their workplaces continue to open. This article was written in part by industry experts, Littler Mendelson, P.C.; a law firm that handles labor and employment litigation….

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