oakandbarrel

What is Blockchain Technology and How Will it Impact Businesses?

Tue, 22 Jun 2021 14:16:12 GMT

In the Know

The internet, smartphones and other online technologies have helped businesses streamline their supply chains and inventories. However, human error, software incompatibilities between vendors and a lack of transparency can cause even the most efficient operations to experience time-consuming and costly errors.

Online cryptocurrencies like bitcoin depend on a technology called blockchain that can instantly share, secure, verify and store records simultaneously. As a result, many businesses are using blockchain systems to implement efficient and secure recordkeeping systems.

what is blockchain and how does it work?

Blockchain is a new type of shared, encrypted recordkeeping system that can be seen in real time by everyone involved in a supply chain or other business operation. These systems work by recording a separate record, or “block,” every time a process is updated.

Essentially, each block in the system serves as a digital puzzle piece that verifies the next record, creating a digital chain. Each block is encrypted and can’t be changed, since altering any information in the record would be like taking a piece out of a finished puzzle and trying to change its shape.

Advantages of blockchain

Because each stakeholder in an operation keeps a separate copy of blockchain records, the systems allows for a large amount of transparency and communication. Businesses can also customize how users see information in a blockchain system. For example, an online retailer could let a customer view their orders and shipping statuses, but not their full inventory system.

Blockchain technology can give businesses an instant picture of both large and small-scale operations, such as a single product’s location or real-time sales figures. And since records can’t be altered or viewed without permission, they’re extremely safe from cyber attacks and data breaches.

potential applications

Here are some of the potential benefits of a blockchain management system:

Flexible scalability —A business can use a blockchain system internally to track projects and other workflows, or multiple organizations can share the platform to organize large-scale operations.

Security —Records that use blockchain are encrypted, verified and shared between all users. As a result, blockchain is very secure against tampering and cyber attacks.Transparency—Advanced sensors and other tracking technology can update blockchain records to give businesses an ongoing view of a supply chain without fear of human error or biased reporting.

Innovation —New services are beginning to automate complex systems like contractual obligations, employee security credentials and personal data protection using blockchain technology.

Detailed analytics —Businesses can track individual products to gather important information at any time, such as the origin of a dysfunctional product or a food item’s expiration date.

Traditional recordkeeping systems rely on data that's stored in one place, then manually sent to others.

Blockchain systems are simultaneously shared, verified and encrypted across all aspects of an operation.

Return-To-Work Checklist

Mon, 21 Jun 2021 19:10:00 GMT

While it’s unclear how long COVID-19 will continue to impact organizations, many employers are looking to the future of employees returning to work and planning how their future workplace will operate. The appropriate return-to-work plan for a workplace will vary, as every organization has been uniquely impacted by COVID-19. In preparation for asking employees to come back to work, it’s imperative that employers thoughtfully construct a return-to-work plan and consider best practices for a safe and efficient return to the office. To aid in getting started, employers can review topics on this checklist, which addresses COVID-19-related workplace topics compiled from the Centers for Disease Control and Prevention (CDC) and highlights general return-to-work topics.

Policies and Preparedness

Is your organization monitoring ongoing federal, state and local workplace guidelines?
Is your organization aware of any and all local public health or other orders related to COVID-19 that may affect your business or workplace policies?
Has your organization reviewed relevant return-to-work policies? These could include:
Paid time off (PTO)
Sick leave
Remote work
Travel
Masks and social distancing
Has your organization reviewed employee benefits to holistically support employees’ well-being? These could include:
Flexible scheduling options
Telemedicine access
Mental health resources
Financial wellness resources
Is your organization compliant with all updated Occupational Safety and Health Administrations (OSHA) regulations?
Does your organization have a planned response in place in the event of an employee testing positive for COVID-19?
Does your organization have a preparedness plan for any future partial or full closings of the workplace?
Has your organization planned for how vaccinations will impact efforts to reopen the workplace?
Has your organization created a voluntary or mandatory COVID-19 vaccine policy?
If applicable, has your workplace developed a policy for employees who have a medical, religious or other exemption from receiving the vaccine?
Has your organization determined whether your workplace will offer on-site vaccinations?
If offering vaccinations on-site, has your organization planned for the logistics of vaccine distribution?
If not offering vaccinations on-site, has your organization determined alternative sites where employees can receive vaccines?

COVID-19 Vaccine Considerations

On-site Workplace Considerations

Has your organization planned for how vaccinations will impact reopening the workplace (e.g., social distancing or mask-wearing)?
Are current health and safety protocols posted in multiple areas of the workplace?
Are employees encouraged to wash their hands regularly or use hand sanitizer?
Are employees expected to wear face coverings or masks in the workplace?
Are employees expected to socially distance?
Has your workplace layout been set up to encourage social distancing and discourage congestion?
Are employees expected to work alternative hours or schedules? These could include:
Staggered shifts
Staggered meal and rest breaks
Compressed workweeks or flexible start and stop times
Do your facilities have high-functioning air filters and ventilation systems?
Have frequent routine cleaning and disinfecting schedules been established?

Remote Workplace Considerations

Has your organization considered the long-term feasibility and logistics of remote or hybrid work in your workplace?
Does your organization have established standards for both on-site and remote employees?
Have remote work expectations for employees been established?
Telecommuting policy
Technology specifications
Remote work expectations
Hybrid work expectations
Working hour expectations
Communication expectations
Cybersecurity expectations
Work responsibilities expectations
Has your employee handbook been updated with remote and hybrid work guidelines?
Does your organization have a plan for keeping remote employees engaged?
Does your organization have a process for remote employees to request additional equipment should they need it?
If applicable, has your organization established a process for onboarding remote employees?

Visitor Considerations

Does your organization have any current health and safety protocol expectations for on-site or in-person visitor, customer or vendor contact?
Social distancing guidance
Handshaking and other greeting guidance
Telephone or videoconferencing versus in-person meetings
Does your organization have any current health and safety protocols or expectations for visitors posted in multiple areas of the workplace?

Employee Considerations

Has your organization shared general information about the COVID-19 vaccines with employees?
Overview of available vaccines and their differences
Number of doses required for vaccination
Facts and myths about the vaccine
How vaccines work
Benefits of vaccines
Efficacy and safety of vaccines
Possible side effects of vaccines
Is your organization sharing any updates with employees on an ongoing basis?
Has your organization established two-way communications with employees and specified a point of contact for employees who have questions, comments or concerns?
Are employees being referred to a primary channel of communications for COVID-19-related updates?
Have employees received communications regarding expectations for working on-site (e.g., hand-washing, proper social distancing or mask-wearing)?
Does your organization have a plan for regular communication with remote employees?
Frequent and consistent manager check-ins
Teamwide communication
General employee communication
Has your organization shared health and wellness resources with employees?
Have employees received information on relevant return-to-work existing and updated policies?

The details of each employer’s return-to-work plan will look different, so use this checklist as a guide to understand and plan for key issues. When developing or updating policies, employers should seek legal advice from local legal counsel. For more resources on COVID-19-related topics or return-to-work planning, contact GCH Insurance Group today.

COVID 19 Delta Variant - What to Know

Mon, 21 Jun 2021 15:39:25 GMT

News Brief

U.S. health experts have identified an emerging strain of the coronavirus known as the Delta variant. It was first seen in India, but has quickly moved across the globe. Experts predict it will soon be the dominant strain in the United States, already accounting for 10% of U.S. coronavirus cases .

The good news is that existing COVID-19 vaccines seem to work well against the variant—drastically reducing the likelihood of hospitalization for vaccinated individuals.

The bad news is that over 50% of the U.S. population has not been fully vaccinated. As a result, these individuals face serious risks, particularly as the Delta variant has shown to be more transmissible and may cause more severe illness.

"I'm worried about those who are unvaccinated."

- U.S. Surgeon General Vivek Murthy

As more states lift COVID-19 restrictions, unvaccinated individuals will have virtually no protection against the Delta variant or other coronavirus strains.

Health experts are concerned that this may lead to another influx of coronavirus cases, inundating health systems worse than they did in 2020.

What’s Next?

For fully vaccinated individuals, continue following guidance from the Centers for Disease Control and Prevention (CDC). Generally, life can slowly return to pre-pandemic normalcy for these people.

Unvaccinated individuals, or those who’ve only received one dose of vaccine, should strongly consider getting fully vaccinated. Failing to do so can lead to serious health consequences later in the year when cases are expected to increase.

Employers looking to maintain uninterrupted operations this fall may want to encourage vaccinations among their employees.

Mine Sites May Bring Unfamiliar Regulations

Wed, 10 Jul 2019 16:24:28 GMT

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OSHA regulation is something you are no doubt familiar with; however, you may be less familiar with the few situations that don’t fall under OSHA’s jurisdiction. In the mining industry, the Mine Safety and Health Administration (MSHA) replaces OSHA as the regulating body of workplace safety. While you may not work primarily in the mining industry, if you do contract work with mine owners or operators on mine property, you need to know when you are responsible for following MSHA regulations in addition to your OSHA responsibilities.

Who is an Independent Contractor?

MSHA regulates mine operators and has the authority to issue citations for violations of safety or health standards. Under the Mine Act, the definition of an operator includes “any independent contractor performing services or construction at a mine.” MSHA classifies independent contractors as those that perform the following:

Contract with the mine owner or other operator to do work at the mine
Use their own methods, equipment and tools while working at the mine
Are not otherwise paid or treated as an employee of the owner/operator
Are not under the day-to-day direction and control of the mine owner/operator except in general matters of product, timing or results

This means that whether you’re a trucking company picking up goods or a construction contractor doing work at a mine site, you hold the same responsibility to follow MSHA regulation as those directly responsible for running the mine.

When on mine property, any independently contracted worker is considered a miner in the eyes of the MSHA. They are expected to have the proper MSHA required training and work under any applicable MSHA regulations. When they leave the mine site, OSHA standards apply.

Independent Contractor Identification Number

Any independent contractors that perform work at mine sites, or that have contracts to perform any of the types of services or construction listed below at a mine, are required by MSHA to have identification numbers:

Mine development, including shaft and slope sinking
Construction or reconstruction of mine facilities, including building or rebuilding preparation plants and mining equipment and building additions to existing facilities
Demolition of mine facilities
Construction of dams
Excavation or earthmoving activities involving mobile equipment
Equipment installation, such as crushers and mills
Equipment service or repair of equipment on mine property for a period exceeding five consecutive days at a particular mine
Material handling within mine property, such as the haulage of coal, ore and refuse, unless for the sole purpose of direct removal from or delivery to mine property
Drilling and blasting

Contractors do not need a number to bid on these types of jobs but are required to file for an identification number at the time of being awarded such a project.

Avoiding MSHA Liability

If properly planned for, compliance with MSHA regulation is fairly straightforward. Use these tips to stay clear of any MSHA violations and the costly fines that go with them:

Become familiar with MSHA regulations.
File for an MSHA Independent Contractor Identification Number.
Provide employees with the appropriate MSHA training before they begin their work on a mine site.
Keep the owner/operator of the mine site informed of all employee training.
Inform MSHA and the mine owner/operator of any employee injuries on site.

Remember, the mine owner/operator you are in contract with most likely has a considerable amount of experience working with MSHA regulations and can be a reliable resource for your questions. In some cases, the mine owner/operator can be held partially liable for the violations of their independent contractors, which makes it worth their while to use their experience to help you comply with MSHA standards you may be unfamiliar with.

Contact GCH Insurance Group at (859) 254-1836 with any coverage or exposure questions or for additional safety information.

Preventing Kitchen Fires

Thu, 13 Jun 2019 17:15:18 GMT

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Kitchen fires pose a serious safety hazard in your kitchen. Although the leading cause of fires is unattended cooking, flare-ups, fuel connection defects, and cluttered counters can also pose a serious risk. When working in the kitchen, always wear close-fitting clothing with short or tightly rolled sleeves. Loose or baggy clothing may drape into pans or open flames.

During Food Preparation

Keep hot pads, oven mitts, wooden utensils, food packaging and towels away from any heat source.
Never leave your cooking unattended. If you need to leave the kitchen for even a short period of time, turn off all heat sources.
Use the lowest heat setting possible that will cook food thoroughly.
Do not place metal or foil in a microwave oven; it will cause sparking and can lead to a fire.
If you notice sparks, turn off the microwave immediately, unplug it and report the incident to your supervisor.

At the End of Your Shift

Check burners, ovens and appliances to make sure they are off before leaving.
Clean up all spills.

Appliance Precautions

Unplug portable appliances when they are not in use.
Always keep the vent-hood fan on while cooking on a range.
Clean up spills, grease and messes on the range and in the oven immediately.
Exercise caution when lighting ovens with gas ranges that do not have a self-lighting feature.

In the Event of a Fire

If a fire occurs, turn off the gas or electricity fueling the fire if you can do so safely. If the fire is in a pan on the range, turn off the appliance and cover the pan with a lid to smother the flames. Make sure you are wearing an oven mitt. To keep the fire from restarting, do not move the pan, and leave the lid on until the pan is completely cool. When these methods do not work:

Use a fire extinguisher, baking soda or a fire blanket to put out the fire.
Sprinkle the baking soda on top of the pan.
Spray the fire extinguisher in a sweeping motion while standing at least three feet

away from the flames.

4 of the Most Costly HIPPA Enforcement Actions From 2018

Thu, 09 May 2019 17:18:51 GMT

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In 2018, Office for Civil Rights (OCR) settled 10 cases and was granted summary judgment in a Health Insurance Portability and Accountability Act (HIPAA) enforcement case. Out of the cases OCR was involved with, here are the most costly enforcement actions:

Fresenius Medical Care North America (FMCNA): In January 2018, FMCNA settled for $3.5 million with OCR for the five separate data breaches that occurred between Feb. 23, 2012, and July 18, 2012.
The University of Texas MD Anderson Cancer Center (MD Anderson): In June 2018, a Department of Health and Human Services (HHS) judge ruled in favor of OCR and ordered MD Anderson to pay $4.3 million in penalties for their HIPAA violations.
Anthem Inc.: In October 2018, Anthem paid $16 million to OCR, an all-time record for most costly penalty, after a series of cyber attacks allowed criminals to steal the electronic personal health information (ePHI) from nearly 79 million individuals from Dec. 2, 2014 to Jan. 27, 2015.
Cottage Health: In December 2018, Cottage Health agreed to pay $3 million to OCR after two breaches exposed unsecured ePHI for 62,500 individuals.

What Does This Mean for My Organization?

The HIPAA Privacy and Security Rules are complex and violations can trigger expensive penalties. Fortunately, there are resources available from HHS to help covered entities comply with the HIPAA Rules. These resources are available through HHS’ website on the following topic pages:

2019 Manufacturing Forecast

Wed, 24 Apr 2019 17:22:31 GMT

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The Institute for Supply Management (ISM) has released its economic forecast for the manufacturing industry in 2019. Although a slowdown is expected when compared to 2018, the institute still believes there will be significant growth. In fact, the forecast predicts that 17 different manufacturing sectors will see increased revenues in 2019.

Here are some other key findings from the forecast:

Revenue is expected to increase by 5.7 percent.
Exports should slow down significantly amid the strength of the U.S. dollar and ongoing trade disputes.
The price of raw materials will increase by 3.3 percent.
Manufacturers are currently operating at 85.2 percent capacity, on average.
Capital expenditures will increase by 6 percent over last year, compared to a 13.4 percent increase from 2017 to 2018.
Employment will grow by 2.4 percent. Also, 77.9 percent of manufacturers said they had difficulty hiring workers to fill open positions in December 2018.
Tariffs are leading 65.2 percent of businesses to evaluate new sources of supplies and change their existing manufacturing footprints.

Recent Investments in U.S. Manufacturing

The U.S. manufacturing industry is a vital part of the economy, as its $2.1 trillion value would make it the ninth largest economy in the world. And, as the Trump administration has pushed to increase the amount of manufacturing facilities in the United States, many foreign and domestic organizations have made large investments in the industry. Here’s an overview of some recently announced investments in U.S. manufacturing:

Fiat Chrysler Automobiles will invest $4.5 billion to create 6,500 new jobs.
Mazda Motor Corporation will spend $1.5 billion to build its first U.S. production facility since 2012.
Electronics manufacturer Foxconn moved up production on a Wisconsin-based facility to open in 2020.
Toyota Motor Corporation will increase its three-year, $10 billion investment in U.S. manufacturing to $13 billion.

While it may seem like large corporations could push small or mid-sized businesses out of the market, investments in manufacturing can have substantial benefits for all organizations.

Lawmakers are encouraged to focus on the industry’s wants and needs. Demand for domestic products increases as prices start to match those of cheaper foreign goods. Skilled employees are more likely to enter the workforce.

2019 Farming Predictions

Thu, 11 Apr 2019 17:25:40 GMT

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In the absence of a crystal ball, here’s what some industry experts are predicting for farmers in 2019:

Fewer soybeans, but more corn and spring wheat —The U.S. is expected to continue to be the number one corn producer in the world, but tariffs will make Brazil the top soybean producer. U.S. soybean farmers are likely to transition to corn or spring wheat.
Corn prices likely to increase to $3.90 per bushel —This is likely due to three years of strong international demand for meat as producers rely on corn to feed their livestock.
A shift in trade —Over the past year, the U.S. doubled sales to the European Union and Mexico, which are now our top two soybean export markets.
Cost and profits flat —Fertilizer and fuel prices may increase, but lower cash rents will balance it out.
Better dairy markets —Since it can’t get much worse, prices are likely to increase, but the predicted 5 percent gain won’t offset large losses.

3 TIPS FOR HIRING FARM LABOR

With some farmers struggling to find reliable farm labor, it is important to invest some thought in the hiring process. Here are some tips for finding the right help:

Examine your needs. You might have a general idea in your head of what work needs to be done, but it’s best to be specific. Narrow down broad processes into specific jobs so you can determine how much help you truly need.
Think about desired traits . Do you need someone to fill a temporary need, or are you hoping that person can go on to fill a managerial role? You’ll have to determine whether people skills are more important than manual labor or machinery skills, and list those traits in your job description.
Consider hiring for a trial period. If you’re hesitant about a candidate but need immediate help, consider hiring them for a short-term trial period. This saves you from high employee turnover while buying you time to recognize your needs. It allows both you and the worker to communicate any frustrations and expectations after the trial period before considering whether the working relationship is worth investing in long term.

March Construction Update

Wed, 20 Mar 2019 17:28:34 GMT

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New Construction Projects Off to a Slow Start in 2019

According to a recent report from ConstructConnect, the number of new construction projects fell 6.7 percent in January compared to the end of 2018. And, although some of this decrease was caused by the start of a new year, the number of new nonresidential projects was significantly lower compared to last year.

Here are some specific year-over-year findings from ConstructConnect’s industry snapshot:

Commercial projects decreased by 39.7 percent.
Heavy engineering projects decreased by 19.2 percent.
Institutional projects decreased by 17.3 percent.
Industrial projects increased by 125.3 percent as a result of large factory and plant projects.

Some experts believe that the partial government shutdown contributed to the slow start, as many federal contractors couldn’t start or resume work. However, a report from the U.S. Bureau of Labor Statistics also found that the construction industry created 52,000 jobs in January alone.

Experts Predict Increase in Prefabricated Construction

While most construction projects produce at least part of a structure off-site, advances in prefabrication technology are making modular construction more accessible. In fact, sales of prefabricated structures are increasing by about 6 percent annually, and experts believe that the market for this type of construction will be worth $209 billion by the end of next year.

Using prefabricated construction, employees can work on entire sections of a structure off-site, transport them to the job site and then assemble everything together. Not only does this help speed up complicated operations like electrical wiring and plumbing installation, employees can also avoid hazards associated with the main worksite.

Here are some of the advantages that prefabricated construction can offer:

Boosts safety —Employees can work on structures in a spacious factory and at ground level, which lowers the risk of an accident.
Saves time —Structures can be built in a setting with extra space and resources, so prefabricated projects are usually completed quickly and with lower overhead costs.
Environmentally friendly —Prefabricated construction has less of an impact on the final construction site and usually causes less runoff and pollution.
Addresses skilled labor shortage —Many employers are struggling to find skilled employees, and prefabricated structures can be completed with smaller workforces.

The Need for Life Insurance

Wed, 27 Feb 2019 18:32:24 GMT

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I recently sat at the funeral of a 53 year old client of mine. His widow who is also his best friend, greeted me with the words, “I love you.” I was referred to this couple about 5 years ago and they became friends as well as clients. I am grateful the life insurance was in place for the needs of his loved ones left behind. We cannot replace him, but we can help lift the financial burden.

I encourage you to ask yourself, “If I die today, do I have enough life insurance in place to pay off my debts and provide for the needs of the people I love?”

I have sold life insurance and have presented many death claims. The first death claim was a 15 year old hit by a car as a pedestrian walking with her parents while on vacation at the beach. The oldest person for whom a death claim was paid was a farmer in his 80’s who was run over by a cow. Most death claims paid, however, have been due to natural causes (cancer, heart, flu, infection).

Over my career, I have found the most important time in your life to have life insurance is when you owe money and are raising children. The best kind of insurance is the kind that is in force when death occurs.

The amount of life insurance, kind of life insurance and length of the policy are all the personal decisions and detail oriented. I encourage you to focus on the big picture and consider what your life insurance needs are today should it ever be needed.

Trucking Company Tips & Update

Fri, 08 Feb 2019 18:37:25 GMT

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Driver Health Tips: Commercial drivers often have to work for long stretches of time without exercise or access to healthy food. Worse still, some drivers have to rely on large amounts of caffeine or junk food in order to get more energy and complete their hauls. As a result of these and other health hazards, the CDC estimates that the life expectancy of a commercial driver is 16 years shorter than the national average. To keep your employees safe and productive, it’s important to promote health whenever possible: Offer to reimburse drivers if they buy nutritious food while they’re on the road. Create a workplace wellness program that uses incentives such as raffle items or employer sponsored gym memberships for participation. Encourage good sleeping habits by offering flexible scheduling or ensuring that drivers only use high-quality mattresses in sleeper berths. Implement strict workplace policies to discourage the use of alcohol or tobacco products.

FMCSA Asks Carriers for Feedback on Vehicle Maintenance The FMCSA has reached out to motor carriers as part of a study on the role that vehicle maintenance plays in safety. This study will help the agency determine what improvements could help enhance motor carrier safety, including better compliance interventions or additional maintenance requirements. Current regulations on maintenance don’t set specific guidelines for maintenance and only direct carriers to systematically inspect and repair vehicles. And although carriers are required to keep and store detailed records on maintenance, the FMCSA believes that new rules, policy guidance or training could significantly improve safety. To get feedback from carriers, the FMCSA will send a survey to businesses with the lowest percentiles in the vehicle maintenance category of the Compliance, Safety, Accountability program. This survey should give the agency feedback on demographics, maintenance practices, facilities and inspections that will be published in a formal report. Then, motor carriers will be able to use a section of recommended best practices included in the report to help with their own maintenance procedures.

Cyber Liability and Data Breach Coverage

Tue, 08 Jan 2019 18:41:15 GMT

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In the world today cyber-attacks are becoming more and more prevalent. If you watch the news you will see the large Fortune 500 companies affected by cyber-attacks but they also go after small businesses as well. How does a small business protect itself from cyber-crime? The answer is Cyber Liability and Data Breach coverage.

Cyber Liability and Data Breach coverage will help protect customers and employees information such as social security numbers, driver’s license numbers, health records, etc. It will also help your business with any legal fees and expenses incurred from having a cyber-attack.

The question most often asked about cyber liability is am I currently covered with my current policy? Unless you see Cyber Liability and Data Breach coverage specifically listed on your policies more than likely you do not have coverage. Cyber Liability must be added specifically onto a policy. You can get coverages in multiple amounts anywhere from $100,000 to a $1,000,000 in coverage depending on your needs.

Cyber-attacks are an ever growing concern in the 21st century for both the business and insurance industries. Now is the time to make sure you are covered before a situation arises. If you are a small business owner and currently do not have cyber liability coverage or maybe not enough coverage it might be time to call one of our agents and discuss your needs.

Long Term Care Coverage

Tue, 11 Dec 2018 19:19:54 GMT

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Long Term Care Insurance – Protection from the financial costs of in-home, community and residential- care facilities.

No one wants to see themselves in a nursing home or requiring help with basic needs and tasks within their own home. Unfortunately, this is going to happen to many people. When it does there are significant financial burdens added to personal finances. The annual cost of care can easily reach 70,000 a year and this figure is increasing annually.

Long Term Care Insurance can cover this need by using current affordable dollars to meet later financial obligations. The coverage is not for everyone. The ultra-wealthy can pay for their own care without significantly impacting their finances; the indigent qualify for government assistance. What about everyone in between?

Long Term Care plans can be tailored to meet the full cost of care or to subsidize personal savings to meet the cost of care. Everyone’s situation and needs are different. Call GCH Group if you would like to start the conversation on Long Term Care.

The Smart and Simple Way to Shop Your Home and Auto Insurance

Wed, 05 Sep 2018 18:21:31 GMT

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In today’s climate we all see the insurance companies and commercials on television talking about how much money they can save you. All that is required is to call or go online and let them give you a quote for your car and home Insurance. While technology has made this simpler now more than ever before, it still pays to spend a little time making sure the quotes you receive are both accurate and comparable to your current coverages you need or desire. We wanted to give our future clients a small overview of a few things to be aware of when shopping your home and auto insurance.

Research the carriers and the discounts they offer. Some companies today care only about securing your business, not what your rate may be in the future. There are carriers giving discounts of up to 25% for switching to them only for that to fall off after your first year. These discounts are recognized as new client or early shopping discounts. While they look good now there may be a huge rate increase in a year. Let your agent know when your current policies expire and have your new policies begin the same date. That way your rates are more accurate on your renewals with your current policies and your new rates will dictate a more accurate premium for you. We are all aware there are small rate increases from time to time but you do not want to get in a revolving door situation of having to spend hours each year getting your premiums back to a comfortable level for you.

Don’t be afraid of your policy deductible. I know it’s been a big deal in years past to not carry a higher policy deductible but today it can be more to your favor than before. Not only will a higher deductible help keep your rates down, you can still work with your agent to discuss claim situations that are below your deductible. Agencies work daily with vendors that do glass repair, water restoration, roof repairs etc. So, always contact your agent directly to discuss anything you have going on. One of the biggest issues now are new prospects who have had a couple small claims of $200 or so which being held against them when they are shopping around. It can at times lead to a situation where you are sitting and waiting for a couple years for a small claim to fall off your record while absorbing larger than normal rate hikes.

Understand the value of always having a constant contact person. While the 800 numbers make it easy to shop around, you only become a number to them. Price and premiums will always be the number one topic when shopping and we do understand that but always ask questions like who do I call when I have a claim or need to make a change to my policy. The good agencies put constant time and training into their teams to make sure their clients know how much they are appreciated, no matter how long or how short of time they have been with them. We are only as successful as the referrals we receive from you. At GCH Insurance Group, you are a name not a number!

#HomeInsurance #AutoInsurance

Horse Farm and Equine Insurance

Tue, 07 Aug 2018 18:24:25 GMT

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Why protect your investment with a tailored insurance package? The answer is because a homeowners policy does not cover the risks associated with an equine business!

If your horse farm operations include horse boarding, horse training and/or providing riding instruction, the need for a Farmowners policy exists. Regardless of how small or big your operation is, a homeowners policy doesn’t provide what you need. We work with carriers that offer Farm owners a “horse farm” insurance policy. This is a package policy that can be customized to meet your specific needs. There are many options available to add or expand coverage. Typically, a Farmowners policy will provide, but is not limited to:

Replacement cost insurance for your residence and household contents, including coverage for related private structures and even extended replacement cost of 125%
Option to include additional residences under your Farmowners policy, and tenant homes.
Coverage for your outbuildings, barns, buildings and structures including entrance gates and specialty equipment for horses.
Coverage for farm and business personal property, such as machinery and tack, as well as hay and grain supplies; even at secondary locations.
Personal liability and commercial liability for your equine business activities is included which provides coverage for third party bodily injury and property damage claims that may be brought against you.
Care, Custody or Control coverage can be added with as small as $5,000 per horse/$10,000 per policy limit and up to a $1million per horse/$2million per policy limit.
An excess liability policy that provides an extra layer of protection over your farm general liability as well as the commercial auto exposure, and your workers compensation liability.

Trucking Insurance

Tue, 03 Jul 2018 18:26:58 GMT

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It is harder than ever for trucking companies to find a competitive insurance program in today’s transportation environment. Regardless of size or need you can always feel comfortable partnering with GCH Insurance Group. We help you find the most competitive insurance rates with the best insurance companies in the marketplace. We have experience helping new owner operators get started with their authority, as well as working with fleets to place them in a program that will foster and help them to continue to grow and become more profitable. Getting the best coverage and program available is tedious and time consuming for the consumer. However, finding the agent/agency that understands the trucking industry and who will tailor a program for your business is essential. In this blog, we will educate you on what items are most crucial to the companies to obtain the ideal insurance policy and what factors drive the pricing either up or down.

Claims History

Your claims history is always one of the main factors that underwriters review. They look for both frequency and severity of claims over a three to five year period. If your claim history shows that you have neither of those then you should receive better rates from the insurance company. As a business owner, you should always request your loss runs annually to review them internally.

FMCSA/SMS

Over the last five years, the newest thing insurance companies look at are your FMCS/SMS records and scores. If claims history isn’t #1, then your FMCA scores are! Companies review SAFER to check your unsafe driving, crash indicator, hours of service compliance and vehicle maintenance. The better these scores are the better rate you get on your insurance. This is why it is important to have a safety manual for all employees, quarterly safety meetings and a vehicle maintenance program for your equipment. Having a strong safety and maintenance program is essential to your companies health in many ways.

Driving Record for Company Driver

Insurance companies will take a hard look at the driving history of all your drivers. When reviewing these reports they look for speeding, DUI and other unsafe driving habits, as well as years of experience of all drivers. Most claims occur with inexperienced or poorly trained drivers.

Value of Equipment

The value of your equipment is most important at the time of an accident, but it also affects the premium you pay annually. When an accident happens and the equipment is totaled it is imperative to have the correct values stated on the policy. When starting a new policy or working on a renewal always consult with your agent concerning the proper values that are listed.

Radius

This one is pretty simple. The more miles you travel the higher your chance of having an accident. Insurance companies rate you on either a long haul or local radius. If you do both sometimes we can get the insurance company to rate you on a mixed radius. This is strictly a means to reduce rate, not coverage. The underwriters will request a review of your IFTA reports. These reports signify where you go and how many miles are traveled in each state. Once these are supplied, your GCH agent will discuss with the underwriter the best rating possibilities for the exposure.

Home and Auto Insurance

Thu, 26 Apr 2018 18:35:58 GMT

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In the world of Insurance, cheaper does not necessarily mean better. The consumer may think they have a great deal on their auto and homeowner's Insurance because their premium is cheap. At claim time they may find out that the claim they just had is not covered or covered inadequately due to choices they made knowingly or unknowingly. Many current insurance commercials that you see on TV leads the consumer to believe price is the main consideration when buying insurance. Price is a consideration, but not the only consideration.

The consumer spends a significant amount of money but typically does not understand the value of their coverage. At GCH Insurance, we view ourselves as educators and strive to help the consumer understand their risk exposures. While we do not discount the importance of pricing to our consumers, we consider all aspects planning. It is our mission to be competitive and offer a product that fits the needs of our client.

GCH Insurance has several quality carriers for personal lines insurance. We compare the benefits versus the premium. Since insurance premiums inevitably increase over time with every carrier, our clients have the additional advantage knowing we are comparing premiums and benefits for them now and in the future. We will suggest changing carriers in the future if it is to their advantage to do so. Typically, this would be recommended if future price increases are in excess compared to other carriers that we have at our disposal.

We are the largest locally owned independent insurance agency in Central Kentucky. We have built our agency by providing quality service and insurance products for our clients. We are there for you as you plan your insurance, updated your insurance, and when you have a claim. We will advise you along the way of what you can do to keep your insurance premiums as low as possible while maintaining quality benefits.

Quality Advice. Quality Benefits. Competitive Rates

Business Insurance

Wed, 11 Apr 2018 18:39:14 GMT

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GCH Insurance Group pride ourselves on being able to provide service to all our clients’ insurance needs under one roof. The one area we have really concentrated on is our commercial lines division. We have achieved success by providing our services to a wide variety of clients from the small business on the corner to some of the largest businesses in the area. In this article we will talk about the coverages we recommend as well as those that benefit most business owners.

Most Common Coverages

General Liability is the most common coverage we recommend to business owners. A General Liability policy provides coverage to a business to protect them against liability claims for Bodily Injury or

Property Damage (arising out of their premises, ongoing or completed operations), Products and Personal & Advertising Injury. One example of a premises operations claim would be customer slips and falls, especially prevalent in restaurants, retail stores or gas stations. For construction or manufacturing industries, a typical claim might include costs of damages to a third party allegedly caused by the business, its product or one of its employees.

Workers’ Compensation is a form of insurance which provides wage replacement and medical benefits to employees injured in the course of employment. This policy will cover any medical expenses from the injury and any wages lost from having to take time off to recover from the injury, subject to the worker’s compensation law of each state.

Recommend Coverages

EPLI (Employment Practices Liability Insurance) provides coverage for employers against claims made by employees alleging discrimination (based on sex, race, age or disability, for example), wrongful termination, harassment and other employment related issues such as failure to promote. We highly recommend businesses purchase EPLI coverage no matter the number of employees.

Cyber Liability provides coverage for a data breach in which a customer or multiple customers’ personal information, such as social security or credit card numbers, is exposed or stolen by a hacker or other criminal who has gained access to the firm’s electronic network. Perhaps the most important feature is coverage for legal costs associated with these type of claims. With so much electronically stored information in today’s world, we are seeing an increased interest from our clients for this protection.

Why Small Businesses Should Offer Health Insurance

Tue, 27 Mar 2018 18:41:14 GMT

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As many small business owners in Kentucky know, they are not subject to the Federal employer mandate that requires Applicable Large Employers (ALEs), employers with 50 or more full-time equivalent employees, to offer health insurance to their employees. Yet, small businesses that don’t offer health insurance may be missing out on a big opportunity.

If you are a small business trying to recruit and retain good employees you may want to consider offering some common employee benefits primarily health insurance. Studies consistently show that health insurance is the primary benefit valued by employees. There are several good reasons.

It helps recruit and retain top talent.

Given that many economists are in agreement that the economy is in full employment, recruiting talented employees becomes more difficult and costly to small businesses as positions go unfilled and business production stagnates. Employees today expect employers to offer some kind of benefits, so it would be in a small business’ best interest to offer the most sought-after benefit to attract potential employees. In addition, with the increasing costs of medical care employees are looking for relief.So , if your competitor offers a nice health insurance plan you may find good employees running towards the exit.

Employees are more productive.

It’s no secret that a healthy workforce is more productive than an unhealthy one. Health insurance can help employees get the care they need quicker and more efficiently thus allowing them returning to work sooner and missing fewer days throughout the year. All of these affect a company’s bottom line.

Increases employee morale

By investing in a health insurance plan for your employees you are showing appreciation for and an interest in the well-being of your employees. When employers invest in their employees their employees usually do the same in kind.

Offering Health insurance is a good start to having a happy and loyal workforce, but there are other benefits that employees also highly value including dental, vision, disability and life insurance. Deciding which benefits to offer can be time consuming and confusing at times. That is why we recommend working with a licensed broker/health agent who can help you navigate the complexities of employee benefits, thus freeing you up to concentrate on what’s most important, your business.

Who Is GCH Insurance Group?

Wed, 14 Mar 2018 18:42:34 GMT

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When asked to write our first blog account for our new revamped website, I thought for a long time, what do I write about? Do I write about different types of insurance, coverages unfamiliar to most people, policy limits, insurance companies or any other related topic? Then I thought, how about writing about our agency, what sets it apart from our competitors and who exactly we are as an agency and as individuals.

Who is GCH Insurance Group? We are 31 individuals who have come together over the past 15 years to form the largest locally owned insurance agency in Central Kentucky. GCH was formed in 2003 and has grown every year since then. I won’t talk about the different types of insurance as that will come in future blogs (Hint, we do it all!!) However, I will talk about the exciting times currently going on here at GCH and the people that make things happen.

First, our new building - We are moving this month to 780 Winchester Road, Lexington, Kentucky. This is on the corner of Delaware Avenue and Winchester Road, right across from the JIF plant. The building is very old and has previously housed Rainbow Bread and Auto-Tech Car Repair, to name a couple. It is an excellent building for our future and the next 20 years. The centralized location close to the interstate and downtown will help us enhance our service to our clients. This area is part of Lexington’s redevelopment plan and we are excited to be a big part of that going forward!!

Secondly, our revamped website - We spent months coming up with a new design that is user-friendly for our customers. Our plan was to make it easier to navigate, more interactive and informational. We believe we have accomplished all of these!

Third and most importantly, our people - This is really what sets us apart from everyone else in the industry. Our agency is owned by five individuals, Russ Griffith, John Hampton, David Henry, Jim McCarty and Shelley Gaffney. All were all born and raised in Kentucky. Each went to high school here and attended the University of Kentucky. Each has worked in the insurance industry 20+ years. We are your friends and neighbors who have always strived to make a difference in other people’s lives. Whether it’s attending church, being a volunteer coach for youth sports, helping at blood drives or working with foster care children and programs, we all feel a duty to give back to the community and make a difference. Our 26 employees are our glue. We truly have the best and most experienced staff in the industry. They are the ones who on a daily basis make it happen for our clients. They are the main reason we keep 99% of our customers and are able to grow the agency annually as we have done over the past 15 years.

We are excited about who GCH Insurance has become and where we are going as an agency and believe in the coming years, with our new location, staff and vision, we will become (if not already) a large part of your life and your business. Our business is about protection of assets and who else would you want watching your back than your local friend and neighbor. In the future, our blog will consist of specific areas of insurance to help in education and knowledge of products available. Thank you for reading and if you’re driving down Winchester Road, please stop in, say hello and take a tour of our new building. We look forward to seeing you!