Business insurance may seem cut and dry, so why the variance in rates from provider to provider? There are many factors that contribute to insurance rates, including coverage and limit options, claim frequency and more. Factors that Cause Business Insurance Rates to Vary Insurance policies and their rates vary from company to company. While you [...]
The insurance market is saturated with partners looking to provide workers’ compensation, property, general liability, employment practices liability and several more types of insurance. With so many options available, it can be overwhelming to find a trustworthy, dedicated insurance partner that meets your franchise’s needs affordably. Read on to learn how Lockton Affinity worked directly [...]
Even the safest organization will experience a workplace injury from time to time. Whether it’s a minor paper cut or a more serious cut requiring stitches, your business should have a prevention and reaction plan in place for injuries. Preventing Workplace Injuries — Implementing an Injury Prevention Program An injury prevention program is a proactive [...]
One of the greatest risks of injury to customers at your business is slip and trip hazards. And these risks are not just a hazard to your customers—traditionally, these incidents make up a large percentage of claims against franchise organizations. A simple internet search of “slip claim restaurant” pulls up dozens of law firms eager [...]
Cyber security is important all year long, but for a busy business like yours, it may be hard to focus on. Perhaps you worry it will take too much time or money, or feel a topic like cyber security is best left to the experts. But as it turns out, taking control of your cyber [...]
There are unique challenges when it comes to reducing employee theft. Margins are thin, turnover is high, and almost everything is a consumable. While many businesses focus on external theft, franchises face a significant risk from their own employees. According to the National Restaurant Association, up to 75% of inventory shortages and 4% overall sales [...]
Around the holidays, franchises can see an increase in claims. The reason for increased claims vary, but seasonal celebrations, weather and economic issues all play a part. Franchise holiday claims can cause stress and worry at a time that is already hectic and stressful. For franchises, we often see an increase in commercial auto claims [...]
Whatever part of the country your business is in, severe weather can impact your operations throughout the year. Consider these statistics on severe weather from the National Oceanic and Atmospheric Administration (NOAA): About 1,200 tornadoes hit the U.S. each year. 100,000 thunderstorms occur each year in the U.S. and 10% reach severe levels. Damaging winds [...]
As the summer heat wave begins, it’s a good time to consider your business’s HVAC system and its maintenance. Well-maintained HVAC equipment can reduce energy loss and save your business money on operating costs. It also helps keep your business safe and pleasant: The correct temperature provides a comfortable experience for guests and employees. Air [...]
Over the last few years, franchises have become a favorite target of cyber criminals. Hackers have stolen password credentials, franchise business records and customer credit card data from some of the biggest names in the industry. The consequences of a hack are serious. Consider these recent statistics: The average cost of a data breach for [...]