From the category archives: Blog

Protecting Yourself When Working From Home

Written by on 8/30/2011 8:01 PM . It has 0 Comments.

Changes in technology and the economic downturn mean more of us than ever are working from home. Depending on how you define them, the US now has between 20m and 40m home-based businesses, plus another 30m home offices, many of them used by "telecommuters" – people working from home for another employer. Add those figures together and it means a sizeable chunk of the population now spend at least part of their work-time at home. And the trend is growing. What many people don’t realize is that this practice has special insurance needs because it likely either won’t be covered by your homeowners policy – for liability for instance – or there'll be restrictions on the level of protection against damage. If you're employed by someone else, the first thing you should do is check with them on how their insurance protects you but if you're self-employed you almost certainly need to arrange additional coverage. Obviously, if your activity involves visits from clients – a sewing a ...

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Do You Need Employee Fidelity Coverage?

Written by on 4/13/2011 6:01 PM . It has 0 Comments.

Business owners don't typically believe employee dishonesty will happen in their business. However, employee fraud is more common than you think. Did you realize $3 Billion dollars of business profits are lost annually due to employee fraud? Here’s an example of an employee fraud case from 2008 that could have been covered had Motorola had an Employee Fidelity policy in place: One might assume that supervisors at Motorola would notice that one employee was ordering an awful lot of inkjet cartridges and getting reimbursed for a ridiculous amount of purchases for the company. But it would be a bad assumption. For three years beginning in December 2003, Bethann Gilroy, 33, got away with a four-pronged theft scheme that defrauded Motorola of $860,000, according to her recent plea agreement. In 2008, she was sentenced to 33 months behind bars, despite her attorney's arguments that her mail fraud guilty plea should result only in probation. Her lawyer failed to return a call seeking comment. According to ...

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