Infantine Blog

Crime in the workplace- Employee Theft, it's a Scary Subject.....

Though you may feel that your employees would never steal from you or that your business would never be the victim of theft, these are real-world concerns. In this day and age, thieves (including your employees) do not need direct access to cash to steal from you; merchandise, supplies and securities are all fair game. You may also be susceptible to losses in the event that finished products or even raw materials are stolen right from under your nose. Essentially, any product can be a target for thieves if there is an opportunity to make a resale profit.

The following examples represent common business thefts, specifically by employees:

• Keeping two sets of books.
• Stealing from the cash drawer.
• Stealing merchandise and materials.
• Charging inactive accounts.
• Paying bonuses to those that are not supposed to receive them.
• Increasing amounts on checks and invoices after they have been paid.
• Paying bills to companies that do not exist and then cashing those checks.
• Reducing amounts of outgoing invoices in the books, then paying the reduced amount in cash and then appropriating the customer’s check.
• Padding payroll and cash expenditures.
• Not crediting cash payments.
• Removing ledger sheets from the business to cover up shortages.
• Invoicing materials below sale price and receiving the undercharge from the customer.
• Issuing checks for goods that were not returned.
• Stealing incoming payments and applying that money to subsequent remittances.

There are many types of Crime Insurance you can purchase to protect you from unsavory employees, and they include: Employee Dishonesty, Deposit Forgery, Money & Securities, Robbery & Safe Burglary, Computer Funds Transfer Coverage.

Theft can be a dicey issue, but it is imperative that you take the necessary measures to protect your business and your assets. Purchasing insurance is a first step. However, other controls need to be in place to protect your business from theft.

For more information on this subject contact the insurance experts at Infantine Insurance Inc. Crime Insurance

Wedding Insurance.....It should be your happiest day ever.

You should remember your wedding as one of the happiest events in your life. Though you may not want to think about it, disasters can strike. From stolen gifts, to slip and falls, the potential for financial ruin is there.

Imagine this: A middle aged professional couple decide they want a simple ceremony in their backyard with one hundred of their closest friends. They rent a tent, hire a food caterer, and off to the happy day. Then Joan, a friend of one of the guests, slips on the damp grass and breaks her hip. The ambulance is called and Joan is taken to the hospital.  End of story, RIGHT? Wrong! Several months later Joan facing tens of thousands of dollars in medical bills, and having no way to pay for it calls an attorney and boom, you now are being sued to cover Joan's medical bills. Do the newlyweds have the necessary insurance to be protected?

Consider another story. Jack proposes to Jill and she accepts. Jack presents her with a $6,500 engagement ring. Jill is so proud, and shows the ring to all her friends. Three weeks before the wedding, Jill somehow loses the ring. Jack forgot to call his agent.  Does Jack or Jill have the necessary insurance?

Things to remember PRIOR to your special day:

• Discuss your potential personal liability with your agent.
• Advise your agent of your ring purchases.
• Ask your agent the coverage options if the event is cancelled.

Contact Infantine Insurance today, and ask for a personal insurance specialist.  We are your trusted advisor to make the happiest day of your life memorable, for all the good things.

 

To learn more about wedding or event insurance, click here  Wedding and Event Insurance

 

 

Infantine Insurance celebrates 40 years with Betty Morrissette

When you ask what significant events  happened in April 1970, you might think of American Motors Co. introducing the Gremlin, the Beatles disbanding, the Apollo 13 mission to the moon being in jeopardy. But did you also know that was the time that Infantine Insurance was formed?

That's right - it was 40 years ago that the Infantine Insurance agency was established.  Our customers often ask "where did the name Infantine come from?"  

Richard "Dick" Infantine was a Surety Bond Manager for the Hartford Insurance Co. located in Boston, MA.  He had worked in the regional office in Manchester, NH and enjoyed working in the area with the people. In early 1970, he decided it was time to go from working on the company side of the insurance industry to the agency side.  On April 1, 1970 he established the Infantine Insurance agency in the Bedford Mall in Bedford, NH.  Since the very beginning, the agency has maintained an expertise in the Construction Bonding arena, along with Life, Business, Home and Auto insurance needs of its clients.  The agency has grown from its humble beginning of 3 employees to the 30 insurance professionals employed by the agency today.

Infantine is still privileged to have its original employee, Betty Morrissette, who is now part of the ownership team at Infantine.  Betty still works in the Bond Department where she began her career on May 1, 1970.  

We asked Betty what changes she has seen in the 4 decades working at Infantine.  She stated that the most significant change is the way the information is handled.  "In 1970, the bond and insurance policies had to be typed manually. Today, we have computer programs that pre-fill the forms and take a tenth of the time to complete.  The internet is used to provide quotes, access bid results, communicate with clients, and even provide electronic copies of documents immediately."

One thing Betty noted that HAS NOT changed since day one is "customer service."  Though information can be provided faster, knowing the needs of your customer has not.  The insurance business is a relationship business.  Knowing our customers and working with them to address their potential for risk is a cornerstone of the insurance business.

So - that is a brief insight into the history of Infantine Insurance.  We have been here since 1970 and plan to be here for many decades to come.  As the world progresses, we wait for the next change that will advance the insurance industry.

No matter what changes occur, the level of customer service that Betty has established will continue to be our number one priority.

 

Hurricane Insurance....it's a windy subject!

Did you know June 1st begins the hurricane season? Insurance for hurricanes can be very confusing to the average consumer. In most hurricane insurance claims it's wind vs. water, so be sure you know the difference and obtain both hurricane and flood insurance when protecting your home and business.

Did you know that if the "Long Island Express" hurricane of 1938 happened today, there would be over $33 billion in insured damage? It is therefore very important that you buy insurance coverage to protect you against this natural disaster.

Be sure to contact your agent prior to the National Weather Service issuing a hurricane warning because most insurance companies do not allow you to add or increase coverage to your policy once a warning has been issued.

For more information on hurricanes visit  http://www.nws.noaa.gov/

For further details on coverage we reccomend you contact your agent today!

Renters Insurance....it could save you!

In light of recent FIRES in Manchester, we felt compelled to remind our viewers the value of renters insurance. Remember, you are not the only one in the building and you cannot control what your neighbors do.

When you buy Renters Insurance, a few of the key benefits are:

• Peace of mind knowing that your belongings will be replaced

• Coverage for temporary housing costs

• Personal Liability

So what is the cost for this?  It can cost as little as $.50 per day. What a small price to pay to protect everything you own!

Also, there are additional discounts to the cost if your Renters and Auto insurance are with the same insurance company.

For your free, no obligation quote, click here Renters Insurance

P.S. Infantine Insurance is now on Facebook...........become a fan today!

 Photo Credit: Jay Adan

Insurance and HR resources made easy with MyWave

 

 

MyWave is a Personalized online Web Center that allows a company to click, connect and communicate with Infantine Insurance, Inc. as well as thousands of their industry peers.

1.  Find weekly tool box talks a hard task to put together?

• With MyWave you can create employee newsletters, safety programs, in-house forms, and insurance reports with easy downloadable, customized materials.

Here are a few samples: 

My Wave Sample Employee Stuffer

MyWave Sample Safety Awareness

2.  Have questions with safety, risk management, human resources or similar areas:

• With MyWave you can post questions online from your personalized web site and collaborate with thousands of your participating peers across the country.

3.  Does MyWave particpate in groups and surveys?

• Funny you should ask.  MyWave actually offers anonymous participation for  surveys AND you can review the results.  Recent examples include the "2010 Health Plan Survey" and the "2010 Workers Compensation and Safety Survey"

4.  Not sure if you need to participate in OSHA or NH State safety programs.

• MyWaveRM offers many resources for OSHA and State programs. 
  
• With MyWaveOsha you can set up your company information, log your employee hours, input your accident activity and create OSHA reports.

5.  How much does this program cost?

• Infantine Insurance, Inc. is proud to offer this, free of charge, to our business clients. 

For more information contact us at Info@Infantine.com

Protecting Your Small Business with Proper Insurance Coverage

Having the proper Insurance coverage is essential to protecting your business and your investment.  Business insurance protects your investment by minimizing financial risk associated with unexpected events such as a fire or auto accident.

 

Determining what type of insurance and the amount of coverage you need is not easy.  It will depend on a number of factors including the type of business you are operating.  For example, manufacturing has different exposures and requires a different type of insurance than a retail store, and a professional operation such as a dentist office requires different coverage than a service operation, such as an auto garage.   Each type of operation has its own unique exposures and you will need to discuss them with a qualified insurance agent.

 

If you are planning to start a new business or have only been operating for a few years, you'll want to consider what type of insurance you should have.  Below is a summary of some of the different types of insurance coverage. You'll want to discuss each of these with your insurance agent to determine what is required for your business.

 

1.      Commercial Property Insurance - This covers everything related to the loss and damage of company property due to a wide variety of events such as fire, smoke, severe weather, vandalism, etc. 

 

        a. "Real Property" is coverage that provides protection for permanent structures listed on the policy.  Completed additions, permanently-installed fixtures, machinery and equipment, outdoor fixtures, owned personal property used to service, repair or maintain the building and additions under construction or repair are all included in this definition.  

 

       b. "Business Personal Property" is coverage that protects personal property owned by your firm and used in your operations. Furniture, fixtures, equipment, machinery, raw stock and finished goods all fall within this category.

 

2. Business Income & Extra Expense - This coverage is used to insure against loss of business income (including any continuing normal operating expenses) that you sustain due to the necessary suspension of your business operations.

 

3. General Liability Coverage - This coverage protects your business from claims arising from alleged bodily injury, personal injury or property damage liability. It includes protection for services you render or products you sell. Coverage payments can include judgments, attorney fees, court costs, or other related expenses.

 

4. Products and Completed Operations Coverage - This coverage is used to insure against claims arising out of bodily injury and property damage that result from products you have sold, manufactured, handled, distributed or disposed of; or for work you have performed, provided the accident occurs away from a premises you own or rent.

 

5. Automobile Coverage - This policy can provide a combination of liability protection and physical damage coverage for loss due to damage to vehicles owned, maintained, or used by you. Additional coverages such as medical payments and uninsured motorist protection can be purchased to customize the policy to fit your particular needs.

 

6. Workers Compensation - State law requires that every employer provide workers compensation insurance for their employees. This insurance provides coverage for accidents or disease arising from employment as prescribed by these state laws. Benefits can include lost wages, medical expenses, and permanent disfigurement/disability payments.

 

7. Professional - This coverage is used to insure against claims arising out of negligent acts, errors or omissions in the rendering or failure to render professional services as defined in the policy.

 

8. Umbrella - This policy provides protection against catastrophic liability claims. The policy acts as excess coverage over your primary liability policies. The limits apply in addition to that provided by the underlying coverage.

 

In order to make the most appropriate insurance recommendations for you your business, you should plan to provide the following information when talking to your Insurance Agent:

 

1. Your Business Plan - This information should include your background and years experience in the business that you are operating or thinking of starting. For example, if you are starting a new restaurant and your past experience has been as a carpenter, insurance companies are less likely to offer you coverage. But, if you have been a chef managing a kitchen or managing another restaurant, they will consider that experience when assessing your risk.

 

2. Property Coverage - you will need to provide information on the type of building you are going to occupy (even if you are just leasing space). The insurance company will need to know the following:

• Street location
• Construction of the building
• Building age and if it has had any updates to the electrical, plumbing, heating and roof (especially if it is an older building).
• Type of tenants that occupy the building (it makes a difference if another tenant is a fireworks factory or just another office).
• Property values - what is the replacement cost of your contents and equipment. If you are leasing the building, does the lease require you to carry the insurance on the building?
• Business Income - If you were to have a loss, for example a fire, how much business income will you need until you are able to get up and running again? How much extra expense would you need to rent another space or equipment so you can continue to operate your business?
• A list of any equipment or tools that you would use away from your premises.

3. Liability Coverage - Information you need to provide will depend on the type of business. Typical information would include:

• Square foot area of your premises.
• Estimated sales you plan to do in the following 12 months.
• Estimated payroll broken down by the different type of operation you do.
• If you manufacture a product, what is the product used for and how is quality controls set up?

4. Professional Liability - This coverage generally needs a specialized application depending on the type of business. Your agent will be able to provide you with the proper application.

 

5. Business Auto

• A list of the vehicles that include the VIN# and cost new.
• Driver list for those that regularly drive your business autos. This list needs to include date of birth and driver license numbers.

6. Workers Compensation - This coverage is required by state law any time you hire an employee, even if that employee is part-time.

• Payroll breakdown between the types of jobs your employees will be doing. For example, for a manufacturing business, separate payroll between clerical, sales and manufacturing. For construction it would be by what they are doing - carpentry, electrical, plumbing, etc.

From this basic information, you will have a good start on what is required to provide you with the insurance coverages you need to protect your Investment.

 

If you have any questions or would like additional information please contact us at info@infantine.com. 

 

About Chuck Hamlin: Chuck is the General Manger for Infantine insurance, Inc. in Bedford, NH which specializes in property and casualty insurance for construction, manufacturing, mercantile, retailing and service businesses of all types and sizes as well as personal lines products. Chuck has over 30 years in the insurance industry, starting his career as an underwriter for an insurance company and then as an Independent Insurance Agent. He holds both his Property Casualty Producer License and Surplus Lines License in the State of New Hampshire and also has his Producer License in the states of Massachusetts, Maine and Vermont. Chuck is a member of the Board of Directors for the Independent Insurance Agents Brokers of New Hampshire.

 

How Flood Insurance can protect your Home or Business

 

The weather patterns in the past few weeks brought havoc to the State of New Hampshire with heavy rains, winds and floods.  The rivers are still rising.....are you protected?

1. What is a flood?

• A flood is briefly described as a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties. 

2. Can you be affected by a flood?

• Floods and flash floods happen in all 50 states.
• Everyone lives in a flood zone. A "zone" is a geographical area shown on a Flood Hazard Boundary Map or a Flood Insurance Rate Map that reflects the severity or type of flooding in the area.  

3. What is covered and what is not.

• Most homeowners and business insurance policies do not cover flood damage.  A separate insurance policy should be purchased, if you are eligible.
• For homeowners see the Summary of Coverages provided by the National Flood Insurance Program.

4.  Who is eligible to purchase a flood policy?

• Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers, and the property's flood risk.

5. How do you purchase flood insurance?

• You are eligible to purchase flood insurance as long as your community participates in the National Flood Insurance Program.  Find out if your Community Participates in the NFIP
• Some insurance companies may offer voluntary insurance coverage to businessowners if you are not in a high risk flood zone.

6.  Do I have to purchase flood insurance?

• If you live in a Special Flood Hazard Area (SFHA) or high-risk area and have a Federally backed mortgage, your mortgage lender requires you to have flood insurance.

If you have any questions or would like us to provide you with a quote, Please contact us at info@infantine.com.