This article was originally published in San Francisco Business Times.
When it comes to managing your fleet, nothing matters more than keeping your drivers and cargo safe. While collisions will happen, a Safety Awareness Program can help dramatically reduce their frequency and severity.
How do you create a successful Safety Awareness Program? Is your program engaging enough to help your employees retain the information? Does it encourage drivers to practice and support the safety measures being implemented?
Here are some strategies you can use to make your Safety Awareness Program a success both in the classroom and behind the wheel:
SAFETY PROGRAM BASICS
While every Safety Awareness Program may be a bit different, ensuring its success all starts with the same basic actions:
- Establishing clear goals and objectives early on.
- Having management demonstrate direct and visible support.
- Structuring training sessions to encourage active participation from drivers.
- Providing access to comprehensive and varied learning materials.
- Implementing effective investigation and incident follow-up methods.
Safety programs are an ongoing process of learning, feedback, and adjustment, so don’t be discouraged if it takes time to develop something to best serve your fleet. If you’re feeling stuck or just need some direction, our partners at Travelers created a handy Roadmap to Transportation Safety Management to help you find your way. Also, their Tips for Creating a Safety Awareness Program are a great in-depth view on the subject and could be your next source of inspiration.
June 2018 — As the warmer summer weather approaches, it is crucial for employers to take seasonal precautions to protect employees from the serious risk of heat stroke. While protecting employees at outdoor worksites remains key, a proposed regulation for indoor work environments is forthcoming in 2019.
On June 7, 2018 I have the privilege of representing Marsh & McLennan Agency (MMA) in sponsoring the Bay Area CFO of the Year Awards presented by the San Francisco Business Times and Larkin Street Youth Services. As a Board member of Larkin Street, I am proud to support this nonprofit’s ground-breaking work, while honoring world-class CFOs leading their organizations.
Recalling a product is a situation that no company ever wants to be involved in. Despite the extreme unpleasantness associated with them, we hear about product recalls involving everything from contaminated food to unsafe furniture on a daily basis.
In the industries of consumer products, food services, and beyond, building a product recall risk management strategy involves several critical components. According to Stericycle Expert Solutions, the first lines of defense to protect your company are prevention and preparedness:
- Invest in automated technology. Utilizing automated technology can reduce the chances of human error and can ensure perishable goods are kept at the right temperature at all times.
- Collect employee feedback. Creating an environment which encourages employees to notify management of potential issues right away will give your company a better handle on quality control.
- Conduct a “mock recall.” A mock recall can help expose gaps in recall execution or identify weaknesses in supply chain traceability of ingredients or components.
- Use regulatory bodies as a resource. Opening a line of communication can help your business understand expectations and procedures better. You may also benefit from maintaining a relationship if an issue that might trigger a recall arises.
Even with the best prevention and preparedness strategies in place, the chances of a product recall still exist. Here are four reasons why your company should strongly consider purchasing a product recall insurance policy to protect your balance sheet:
- Recalls occur more often than you think. The U.S. Consumer Product and Safety Commission (CPSC) and the Food and Drug Administration (FDA) are just two of the regulatory bodies tasked with recalling products deemed to pose a potential health or safety risk to the public.
- More than 4,200 product recalls were issued by US federal agencies in 2015 and trends are rising.
- Governmental oversight is more present than ever. Between the Consumer Product Safety Improvement Act of 2008,the FDA’s Food Safety Modernization Act of 2011, and new EU regulations, laws are becoming stricter and compliance continues to be a challenge for businesses.
- 47% of food recalled in the US in 2016 was because of microbiological contamination.
- 50% of surveyed food manufacturers spent more than $9 million when a product was recalled.
- Some of the top product groups commonly recalled are food, electronics, children’s products, clothing, furniture, and appliances.
On May 3, we welcomed Michelle Wulfestieg as our speaker for the second annual Orange County GROW* keynote. As a two-time stroke survivor, hospice advocate, motivational speaker, and award-winning author, Michelle shared her story of perseverance, hope, and the power of living your deeper purpose.
Diagnosed with a rare vascular brain lesion and given a short life expectancy, Michelle vowed to live her best life during the time she had. At a young age, she discovered that she wanted to help others in need, as she believes “everyone has a purpose to serve in some capacity.” Devoted to finding her true passion, Michelle explored volunteering with many different organizations, ultimately finding herself drawn to hospice.
After suffering a second stroke, Michelle spent eight days in a deep coma. However, after Michelle finally woke, she was free of the lesion. Determined to be able to help her hospice patients once again, she spent years recovering – learning to read, write, walk, and talk again. “It all happens for a reason and there is hope at the end of the day,” Michelle said.
“I love reading through my insurance policies!” — said almost no one ever. More often than not, companies correctly rely on their insurance broker to do so for them. However, if you ever experience a claim, you’ll want to be familiar with the workings of your policy.
It is vital to put in the time to assess exposures, limits, and deductibles to ensure your coverage will cover potential claims the construction industry is prone to. As a trusted partner, our job is to understand the exposures related to a specific trade and dig deeper to help address those of particular importance for our clients. No one knows your trade better than you, however, and working together we can ensure you are covered for just about anything.
Before you start the conversation with your broker, here are some tips on how to review your program and be better prepared to address any potential areas requiring further coverage:
1. Check the declarations page. The declarations page will show you a few important items such as the insured, effective dates, limits, deductibles, and premium information. If you notice anything incorrect, get in touch with your broker to correct it right away.
2. Review your exclusions. Exclusions are items that are NOT covered by your policy, unless they are specifically added back in by endorsement.
Decision may lead to higher costs and greater liabilities for employers
California employers who engage independent contractors are now subject to a stringent new test that may ultimately force employers to reclassify many of these workers as employees, according to a ruling by the California Supreme Court on April 30, 2018.
This article was first published in San Francisco Business Times.
Millennials are reshaping the workforce, so is it any surprise their priorities are also redefining employee benefit programs?
Unlike employees in years past, highly-motivated, highly-educated millennials are looking for more than just a 401(k) contribution, medical and dental insurance, and paid-time off.
They’re actually looking for employee benefits that help them with challenges previous generations never encountered, like the crushing burden of student debt. And, they want their employers to offer a broader range of health and wellness benefits to support their active lifestyles.
Why millennials matter so much
For employers, satisfying the changing priorities of millennials is critical. In 2016, millennials – those between those ages 21 to 36 last year – became the largest generation in the workforce, according to Pew Research. Today, one in three workers is a millennial. By 2025, 75 percent of the workforce will be millennials.
In today’s increasingly tight labor market, particularly in urban centers like the San Francisco Bay Area where technology firms have set a very high bar, benefit programs that address millennial concerns can make all the difference in successful recruiting.
In our work with large and small firms across every industry segment, we have partnered with employee benefits program managers to suggest innovative benefits that align with millennial lifestyles.
The healthcare industry is currently undergoing a major shift as the digital revolution continues to expand into every area of our lives. Companies are merging healthcare, life science, and technology to foster increased efficiency and better outcomes in the healthcare system. Many of our clients are at the forefront of this industry hailed as “digital health,” which is set to fundamentally change the entire healthcare landscape.
Startup Health recently disclosed that digital health just had its largest year of funding to date with a total of $11.5 billion invested and approximately 750 deals. This investment has allowed many of our clients to take on new contracts and clients, expand services and product lines, move into new geographies, and grow their business.
As digital health companies continue to grow and expand, their liability, regulatory, and privacy risks constantly change because of the complexity of the industry. Recognizing this, Marsh & McLennan Agency recently launched a new practice dedicated to serving digital health companies by addressing their unique exposures.
To address some of these, we've created three risk 101 sheets for various industries. Download the PDFs below.