It can take some real finesse to match job candidates with the right employer and position. There are many personalities in the mix and real financial ramifications at play that can generate significant risk for your firm. Your company could suffer serious financial losses from a claim lodged against you or damage to your property.

Here are some of the most important safeguards needed to protect your professional assets.

Risk management

Make minimizing risk an essential part of every transaction. This includes thoroughly documenting reviews of candidate qualifications, reference checks, background checks, confidentiality clauses and more. You should also screen each employer to make sure they provide a suitable workplace environment with appropriate health and safety procedures in place. Be on the lookout for any history of harassment, discrimination or other unacceptable employment practices.

These and other basic risk management steps help minimize the likelihood that you’ll recruit an unqualified or unreliable employee or that you’ll place someone in a compromised work position. Simple due diligence may prevent a claim from ever materializing. But if one does, documented proof that you took the necessary steps to reduce harm may be an important part of your defense.

Of course, no matter how conscientious or careful you are, mistakes and accidents do happen. That’s why the right insurance coverage is so important. Given the unique nature of employment placement services, there are some specific insurance policies you should discuss with your broker.

The right insurance

Professional liability insurance, also referred to as errors and omissions (E&O) insurance, is something no staffing agency should go without.

It helps cover settlement costs and any legal fees or expenses required to defend against claims of negligence, misrepresentation or inaccurate advice.

Given the range of industries, employers and employees you regularly screen and interact with, there is a nearly limitless list of potential liability claims, but some simple illustrations include:

• An accusation that you placed a candidate into a position they were not qualified to handle, leading to negative consequences for the employer, including financial loss and damage to their reputation
• Failure to meet the requirements outlined in your contract, such as finalizing a staff position by a certain date
• An assertion that you inaccurately represented an opportunity, leaving the employee feeling that their career was compromised

Much of your job involves judgments and decisions based on reasonable expectations and the talents and abilities of others. Because there is tremendous gray area when determining whether you followed expected professional protocol, professional liability is particularly important for employment placement firms.

Be sure to discuss the details of any professional liability policy you are considering with your broker. You’ll want to confirm that it includes “vicarious liability,” meaning coverage extends to the individuals you are placing into other firms as temporary or contract employees. By extension, they may be considered a representative of your company instead of an employee of the company you are working with, so they would need coverage under your policy.

Your insurance broker can also help you define when and to whom professional liability coverage applies so you can clearly delineate this in your service contracts as well.

Some notes of caution:

It’s important to understand the difference between professional liability and directors and officers (D&O) insurance. While they both protect against claims of poor judgment or failure to perform a job as expected, D&O insurance covers only those in your corporate management or officer roles. You may still want D&O for additional protection, but it doesn’t replace professional liability for your entire team.

Professional liability also does not cover:

• Claims of bodily injury or damaged possessions — you’ll need a general liability policy for that
• Instances where you are found guilty of malicious, dishonest, criminal or illegal acts

Cyber insurance protects against both your liability and damage to or shutdown of your own systems. Most employment placement firms store and transmit a considerable amount of confidential and personal information online, which makes a stand-alone cyber policy crucial. This type of coverage can be tailored to your specific exposures so you’ll be able to address the costs associated with lost or corrupted data, identity theft, cyber extortion, business interruption and reputation recovery.

Commercial general liability (CGL) covers medical and legal costs related to bodily injury or damage to the personal property of non-employees. It also covers claims of slander (for example, if a potential new hire says you spoke ill of their abilities) and advertising injury. You don’t even need to be found at fault for CGL to prove valuable, as there can be significant costs associated with legally defending yourself.

Business or commercial property insurance protects against damage, theft or the complete loss of your business’s physical structure. It also covers the contents inside, including furnishings and office equipment. Even if you rent your business space, you still need commercial property insurance to cover the contents of your building. This type of coverage is equally important for home-based businesses because homeowners insurance policies typically don’t extend to business losses.

Discuss any exclusions with your insurance broker, as most property policies do not cover losses due to floods, sewage backup or earthquakes. If you are concerned about those scenarios, they can be covered by adding a specialized policy.

Commercial auto is imperative if you or your employees drive on behalf of your business, regardless of whether it’s in a business-owned or personal vehicle. Commercial auto insurance provides important financial protection from the costs of damage to your vehicles or damage to other vehicles caused by your drivers. It also helps with medical expenses and other financial losses sustained by any injured parties, whether your driver is at fault or it’s the other driver and they’re un- or underinsured.

Talk to your broker about non-owned auto, medical payments, comprehensive and uninsured/underinsured motorist coverages.

Though the primary function of staffing agencies is to place applicants with other companies, your business has both property and liability risks that can cause financial havoc. A properly designed insurance program can protect you from major losses and keep you in operation, even if you are hit with a disaster or liability claim.

If you’ve ever obtained a quote for auto insurance, you may have come across the term “grid rates.” While it may seem unfamiliar to many, understanding grid rates is important. It ensures you’re getting the best possible price for your auto insurance coverage.

What Are Auto Insurance Grid Rates? Grid rates refer to the government-regulated maximum prices that insurance companies can charge for basic insurance, specifically third-party liability coverage. These rates are applicable in Alberta and act as a benchmark for insurers when setting their premiums.

Determining Auto Insurance Grid Rates: When licensed as a driver in Alberta, your initial grid rate starts at zero, provided you didn’t have any at-fault claims during your learner’s permit phase. However, each at-fault accident with property damage or bodily injury results in an increase of five points in your grid rate. On the flip side, every consecutive year without any accidents leads to a decrease of one point in your grid rating, subsequently lowering your insurance premium.

Benefits of Driver’s Training: For new drivers, completing an accredited driver’s training program and passing both the in-class and road safety portions can help lower your grid rate by two points. This reduction in the grid rating translates to a reduced premium. However, it’s important to note that if you already have an at-fault claim, driver’s training cannot lower your grid rate.

Exceptions to Lowering Grid Rate: Unfortunately, if you’re a new driver with an at-fault accident within your first two years after taking driver’s training, your grid rate will only increase to a maximum of three, instead of four or five, depending on your driving experience.

Considerations Beyond Grid Rates: While grid rates set the maximum price for liability insurance, they may not always offer the best price. Insurance companies have their own rating methods based on risk assessment, which can result in premiums lower than the grid rates. Factors such as at-fault claims, license suspensions, minor convictions, major convictions, and criminal code convictions also impact your auto insurance premiums.

Other Factors Affecting Premiums: Aside from grid rates and conviction records, other factors that influence your liability premiums include your location within the province and the amount of liability coverage you choose. Living in major cities like Edmonton or Calgary typically increases the likelihood of accidents and, consequently, higher premiums. Additionally, it is recommended to have at least $1 million in liability coverage, considering the rising number of claims exceeding the legal minimum of $200,000.

Understanding auto insurance grid rates is pivotal in ensuring you secure the best price for your coverage needs. It’s important to remember that grid rates serve as a maximum price, while insurance companies have flexibility in offering lower rates based on their risk assessment. If you need assistance navigating the complex world of auto insurance or obtaining a free quote, our team at Ing & McKee Insurance is here to help.

Sources:

Armour Insurance – Alberta Auto Insurance Grid Rates Explained

The changing seasons are an excellent time for property inspection and cleanup. You might have missed maintenance issues over the summer. Or maybe the heat and rain brought new issues to the surface. Add these tasks to your maintenance rundown to prevent injuries and damage.

Repair outdoor walking surfaces

Start your examination in the client parking lot. Walk around and check it out. Look for worn parking lot lines, cracks, potholes and uneven surfaces. Potholes can lead to tire damage. Walking surfaces with buckled cement or warped asphalt can cause a nasty spill. And all of these issues can lead to lawsuits and insurance claims.

If clients bring their kids, you have an added risk exposure. Walk your building from the perspective of a child. For example, do you have doors that lead into unsafe or restricted areas? A sign might deter an adult, but kids might not be able to see or read the sign.

Check your entryway for trip-and-fall hazards. Ironically, anti-slip mats and carpets can cause painful sprains and falls. Break out your winter snow mat to see if it’s ragged or torn. If it’s seen better days, get rid of it and invest in a new one before the snow flies.

Service your heating system

Have your heating, ventilation and air conditioning (HVAC) system professionally inspected. Your air conditioner may have been working on overdrive, but your heating may need some TLC. Give it a test run before the temperatures drop.

For optimal performance, replace your HVAC filters every three months for a typical office. Replace the filters more often if your work produces dust or other pollutants. Only use filters that are safe for your system. For example, high-efficiency particulate air filters have a minimum efficiency reporting value (MERV) to indicate how effectively they filter contaminants. The higher the rating, the more efficient the filtration.

Higher MERV values also mean denser filter materials that require more force to push air through. If your HVAC system can’t handle a high MERV filter, it could decrease efficiency or damage your HVAC. Check with your HVAC manufacturer if you’re unsure.

Inspect your roof

Annual roof inspections can help you identify potential issues ahead of severe winter weather. Correcting minor problems in the fall can prevent further damage caused by snow, ice and cold weather. Use a certified roof inspector.

Remove debris and leaves

Clogged gutters mean water can’t drain away from your building. This can lead to water flowing toward your building, damaging the roof, siding and foundation. A cracked foundation can get worse if standing water freezes inside the fissures. And if standing water freezes on your roof, it could form ice dams.

Ice expansion can force water underneath your roof shingles, causing rot and leaks. Frozen water also adds weight to your roof, causing premature wear and risk of collapse.

Gutter cleaning supplies

If you or your maintenance staff will be cleaning the gutters, have these tools on hand:

• An extension ladder. Never use a damaged or worn ladder. You risk falling and injuring yourself.
• A standoff stabilizer. Stabilizers keep ladders from wobbling and protect gutters from the weight of the ladder leaning on them.
• A dust mask. Use a high-quality respirator, like an N95, to filter out small particles and mold spores.
• A tarp or ladder utility bucket. Placing a tarp on the ground near the ladder makes debris cleanup easier. If you use a bucket, make certain it’s safe to hook onto your ladder.
• Goggles. Use wrap-around goggles to keep debris from falling into your eyes. If you use a face shield to protect your face, wear goggles underneath for complete eye protection.
• Gloves. Choose sturdy rubber or synthetic-coated gloves that you’re comfortable in and that protect your hands from sharp debris. Beware of latex allergies when choosing gloves.
• Nonskid shoes. Choose closed-toe shoes with nonskid rubber soles for a solid grip on ladder treads.

Heights and ladder safety tips

Use a fall protection plan as falls are the top cause of workplace deaths.

Invest in a quality ladder. You might have different ladders for different maintenance tasks at your business. Outdoor work requires an extension ladder with anti-slip feet. Inspect your ladder every time you use it. If it’s damaged, discard it.

Check the ladder’s weight rating. Make sure it can hold your weight and the added weight of the materials you’ll be transporting. For example, if you decide to paint your gutters after you clean them, you’ll need to factor in the added weight of the paint cans.

Maintain three points of contact with the ladder. If you have to reach or lean so far that both hands leave the ladder, it’s time to dismount and reposition it.

Watch for shock hazards and electrical power lines

Choose a grounded or fiberglass ladder that doesn’t conduct electricity. This will help prevent electrocution. But don’t be lulled into a false sense of safety because your ladder is nonconductive. You can still get electrocuted by an arc flash.

Before you set up your ladder, check the area for power lines. Stay at least 10 feet away from overhead power lines. You don’t have to make contact with overhead electrical lines to be in danger. Electricity can jump its intended conduction path (the power line) and travel through the air in search of a new conductor, like lightning. It’s called an arc flash, and it could kill you. If you must work near power lines, contact the utility company to discuss the job.

Never use a pressure washer while on a ladder. Only use pressure washers while standing on the ground. Pro tip: If you’re using a cleaning solution in your pressure washer, make sure it’s safe to use around plants and shrubs.

Call your insurance broker if you have questions

Insurance doesn’t cover damage from lack of maintenance, misuse or infestations. So damage caused by neglected, clogged gutters is a hard sell on insurance claims.

Make autumn touch-ups a part of your maintenance routine, particularly after trees shed their leaves. You’ll prevent expensive problems and help maintain the structural integrity of your building. That’s good business!

Get Prepared with the Best Tires

As the winter season approaches, it is essential to prioritize road safety. In Alberta, where the roads can become super slick and challenging to navigate, having the right tires on your car is necessary to prevent accidents and ensure a smooth driving experience.

At Ing & McKee Insurance, we understand the importance of preparing for winter driving conditions. That’s why we want to emphasize the significance of equipping your vehicle with the best tires available. Here’s why it matters:

Enhanced Traction and Control

Winter tires are specifically designed to provide superior traction on icy, snowy, and slushy surfaces. With their unique tread patterns and rubber compounds, these tires improve grip, reducing the likelihood of skidding or losing control of your vehicle. By investing in winter tires, you’ll have better control over your car, allowing you to maneuver safely and confidently through icy roads.

Shorter Stopping Distances

One of the most critical factors in avoiding accidents is the ability to stop your vehicle promptly. Winter tires are engineered to excel in cold weather conditions, offering shorter stopping distances compared to all-season or summer tires. This means that even on slippery surfaces, you’ll be able to come to a halt quickly, significantly reducing the risk of rear-end collisions or other accidents.

Improved Handling in Cold Temperatures

Our winter temperatures can plummet, affecting the performance of regular tires. Winter tires are designed to remain flexible in colder conditions, ensuring optimal grip and handling. By having these specialized tires on your car, you’ll experience improved responsiveness and stability, making your winter drives safer and more enjoyable.

Peace of Mind for You and Your Loved Ones

Road safety is paramount, especially during the winter season. Equipping your vehicle with the best tires provides peace of mind for both you and your loved ones. Knowing that you have taken proactive measures to enhance your safety on the roads will help you confidently navigate winter roads, whether commuting to work or embarking on a family road trip.

At Ing & McKee Insurance, we prioritize your well-being. We encourage you to visit your local tire dealership or consult with a trusted automotive professional to discuss the best tire options for winter driving. Don’t wait until the snow falls; be proactive and ensure your vehicle is equipped with the right tires to handle the unique challenges of our slick roads.

Stay safe this winter by making the smart choice – invest in the best tires for your car. Your safety matters to us, and we’re here to support you every step of the way.