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Workplace Violence: Is your company prepared and protected?


By Matt Benge, Consultant


As the world’s risks and dangers continue to evolve, so does the insurance marketplace’s offerings to protect employers.

Unfortunately, workplace violence and terrorism are becoming more common threats to a company’s ability to function and their employee’s wellbeing.

Insurance companies have noticed this and are now offering coverage resulting from workplace violence incidents (the industry buzz word is “Active Shooter Policy”), political violence, terrorism and of course, cyber attacks. The coverage is intended to fill critical coverage gaps in traditional general liability, workers compensation and property policies.

Here are some of the coverage highlights from a policy that Starr Companies has authored:

Political Violence and Terrorism

–              Provides cover for 1st party Property Damage, Business Interruption losses, Contingent Business Interruption, and 3rd party liability losses resulting from an act or hoax of politically-inspired violence (strikes, riots, civil commotion, sabotage) and terrorism

Workplace Violence Expense

Reimburses expenses resulting from any Workplace Violence incident involving an Insured Person

Reimbursed expenses include (but are not limited to) Workplace Violence and Stalking Threat Expenses (to include Security Consultants/Guards, Public Relations Consultant, Counseling Seminars, Salaries, Medical Benefits, etc.), Business Interruption Loss, Temporary Business Relocation, Loss of Life Benefit, and Defense Costs

Cyber Security Expense & Liability

–              3rd party liability claims stemming from a security failure on the part of the Insured

–              Privacy Crisis response expenses in the event of a data breach (expenses covered include notifications, credit monitoring, and forensics)

–              Costs expended to respond to a cyber extortion threat

Crisis Response Expenses

Reimburses Crisis Response costs and/or Crisis Management costs that are a result of Injury, Property Damage, or Imminent Injury arising out of a crisis event. These costs include (but are not limited to) Crisis Transportation Expenses, Crisis Psychology Expenses, and Funeral Expenses.

We also partner with other […]

May 25th, 2017|General Information|0 Comments

Dress for Success

By Stephanie Pence, CAPI

Manager & Producer, Private Client Services

Thanks to the generosity of our customers and colleagues, Assured SRA’s Private Client Division was able to donate three car loads of clothing to the Dress for Success organization last week.

At the beginning of 2017, our team created a goal to get involved in our community. Dress for Success seemed a natural choice for a “Spring Cleaning” campaign where we reached out to our clients and office to donate lightly used clothing. The donations will be used to provide men and women with interview appropriate attire. The charity also provides resume assistance, practice interviews, career mentoring, and leadership development.

Team leader and Private Client Consultant, Alyssa Blake, coordinated the email reminders, pick-ups, and drop-offs. Here’s what she had to say. “Our jobs are more then what comes across our desks. When we heard of this organization, we knew we wanted to participate. Our team is dedicated to living service beyond the 40 hours work week.”

When our community thrives, we thrive. On behalf of our team members Alyssa Blake, Brandon Ell, Mary Ruby, and Gabe Wooldridge, we thank everyone for your support of this campaign.


May 22nd, 2017|General Information|0 Comments

Water Coverage Reviewed, Part II: Flood Coverage

By Gabe Wooldridge
Express Solutions Producer and Private Client Consultant

Spring showers are around the corner and this brings the potential for increased water exposure to many property owners. Water damage may wreak havoc on your home and possessions and it can occur when you least expect! There are three major aspects of the dreaded words WATER CLAIM and how it is or isn’t covered under your homeowner’s policy. This section will review flood and how insurance companies review this peril.

Many homeowners could be potentially impacted by flooding. The trends of sudden large storms in the US are more frequent now than in the last 105 years since they began recording storms — just look at the situation in California. Per the EPA statistics, “In recent years, a larger percentage of precipitation has come in the form of intense single-day.  Nine of the top 10 extreme one-day precipitation events have occurred since 1990.” The intense increase in the amount of water in a short span of time is what causes many flash floods.

Unfortunately, MOST homeowners do not carry flood insurance even in regions in which floods are more prevalent. For example in Louisiana, 80% of the residents that had flood damage this August did not have flood Insurance! This is possibly one of the largest gaps and misunderstood aspects of property exposures. To put it simply, flood coverage is defined as water entering your home from outside of the home. The bad news is if water enters your home from the outside and causes damage and you do not have a separate flood policy there is NO coverage from your homeowners insurance.

The good news is that the United States government saw the extensive damage floods were causing Americans and created […]

March 27th, 2017|General Information|0 Comments

The Hartford introduces unique new coverage for small businesses

By Cory Fischbach

Most businesses have essential employees who are vital to the operation and financial well-being of the business. Losing an essential employee can be devastating to a small business, and preparing for this is a vital part of any business insurance program. Until now, this has typically been done with key person insurance (often referred to as key man insurance), which is a life insurance policy that a business takes out on an essential employee. With a new endorsement released by The Hartford on March 11th, coverage is now available for temporary absences as well.

Business Income Extension for Essential Personnel
Most business insurance policies cover loss of business income and extra expenses incurred due to a covered loss. This endorsement extends that coverage to include loss of business income and extra expenses incurred due to the unplanned absence of an essential employee. Unlike key person insurance, this coverage is triggered by anything other than termination, resignation, or retirement

The Hartford is currently the only insurance carrier that offers this type of coverage, and the optional endorsement covers up to a 90-day absence. For coverage to apply, the essential person must be absent for more than 30 days, and the employer must not have been aware of the absence for more than 30 days in advance.

If this product is successful, I expect other companies to begin offering something similar in the near future. This is a great first step, but I think that the 90-day limit is conservative. As The Hartford and other companies become more comfortable with this type of coverage, I would hope to see options for 6-12 month limits. If you are a business owner with essential employees, I encourage you to ask […]

Assured SRA guests hear about healthcare reform at March executive briefing

Approximately 100 Assured SRA clients and other friends gathered at the Kansas City Carriage Club on Friday, March 3 to hear from special guest speaker Joel Wood. Wood is senior vice president, government affairs for The Council of Insurance Agents and Brokers. The Council represents 80 of the top 100 insurance firms including Assured Partners and Wood heads its lobbying and government affairs segment.

Wood’s presentation was entitled “Trump, Congressional Chaos: The Consequences of the Benefits Agenda.” He detailed the changes coming in healthcare policy with the new Trump Administration. He described how employment-based coverage is still by far the dominant means of health insurance in the U.S. and the uncertainty about what might happen with proposals to repeal and replace the Affordable Care Act.

He explained that several options exist including buying across state borders, a higher tax on the one percent of wealthiest Americans, tax deductible premiums and others. He also described the contentious state of government discourse in Washington and how that issue was complicating the reform picture.

March 10th, 2017|Affordable Care Act, Employee Benefits, General Information|0 Comments