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Jared Martinelli, a valued member of our Personal Lines Team, shares some valuable tips on Life Insurance for you and your family. To learn more about ways we can help ensure you carry the proper coverage for your rental, call Jared at 717-560-7730.

CLICK HERE TO WATCH THE VIDEO!

The Importance of Renters Insurance

Monday, June 25, 2018 Written by

Watch this video as Heather Groff and Cindy Marshall, BCF Group's Personal Risk Manager, discuss the importance of Renters Insurance.  To learn more about ways we can help ensure you carry the proper coverage for your rental, call us at 717-560-7730. 

CLICK HERE TO WATCH THE VIDEO!

As everyone in Lancaster County is aware by now, a local multi-generational family business was shut down almost overnight due to apparent fraud perpetrated by an employee of the company. This is a terrible situation for everyone involved, and we certainly wish the best to all of the employees and their families who were affected. The question for this blog is, what can we learn from this situation to help minimize the risk to our own businesses, and how might insurance coverage come in to play?

We don’t know the specific details of the alleged fraud that took place, so it’s impossible to say at this time whether insurance coverage could come into play or not. I’m just going to discuss two coverages that could come into play in a fraud situation.

1.) Employee Dishonesty – Sometimes referred to as “Employee Theft”, this is a Crime coverage that protects your business from theft by employees, which is not covered by standard Commercial Property insurance. Most often these are situations where an employee with access to the company funds siphons off money in small amounts over a period of time, and by the time it is discovered there may be tens of thousands of dollars (or more) missing. Sadly, we read about these situations in the newspaper frequently, and oftentimes involving small companies. We find that business owners tend to believe that their employees would never steal from them, until they find out that they have.

This risk of employee theft is something that you can insure against, but you can also mitigate the risk with some straightforward procedural safeguards. These can include:

• Requiring two signatures on all checks
• Having the person who reconciles bank accounts be different than the person who issues checks
• Conduct financial audits
• Maintain oversight of the finances and try to avoid having one person with too much control

While we generally think of Employee Theft being the theft of money, it can also include the theft of inventory, stock, tools, or other business property.

2.) Directors & Officers (D&O) Liability Insurance – Most people are familiar with D&O from a Non-Profit perspective as they understand the desire to be protected from liability for their service on a charitable board. What is less understood is the need for D&O coverage for a privately-held, for-profit business. Once again, while we don’t know the details of what took place in the situation locally and whether coverage would apply or not, it does serve as a reminder why D&O coverage has value even for a privately held company.

Directors and Officers make decisions that may affect anyone who has a relationship with the company: Shareholders, regulatory agencies, creditors, suppliers, competitors and customers. Anyone who believes they have been harmed as a result of those decisions may take legal action, requiring costly legal expenses to defend the company and its directors and officers. If your private company has outside individuals serving on the board, D&O coverage is a “must” to protect those individuals from personal liability. Even if there are not outside individuals, D&O coverage is still critical to protect the company and its officers from potentially crippling legal expenses and judgments. This can include claims from creditors alleging mismanagement of the company resulting in their financial loss.

While we all sympathize and hope the best for the affected individuals in this tragic situation, hopefully we can all learn something as well and use this as an opportunity to improve our procedures to reduce risk, and review insurance plans to make sure we are more adequately covered.

Feel free to reach out if you would like to discuss any of these issues.

BCF Group's Jared Martinelli provides some excellent tips on your automobile insurance, including ways to protect yourself and your family with the right levels of liability coverage. To learn more about ways to ensure your auto policy provides the best coverage with competitive premiums, call us at 717-560-7730. 

CLICK HERE TO WATCH THE VIDEO!

Jared Martinelli

No one likes to openly talk about their death. Combine that thought with insurance and you have a product that no one ever wants to discuss, and that’s life insurance.

As a life insurance agent, this is the dilemma I run into. There are many families that don’t have life insurance that really should. I agree it can be a rather morbid conversation but it is one that needs to be had in order to protect your family.

This is one type of insurance that is often overlooked by families. The reason being is no one is forcing you to buy it. The state of Pennsylvania requires you have auto insurance and your mortgage company requires that you have homeowners insurance. No one is requiring that you have life insurance which means it is up to you! Just because you are not required to have life insurance doesn’t mean it is not necessary to adequately protect your family.

The unexpected death of you or your spouse can have a devastating impact on your family. Life insurance can help ensure that your family continues its normal standard of living. Life insurance can be used to replace you or your spouse’s income, pay off debts, cover children’s expenses, pay final expenses and ensure that your family will be able to survive financially if disaster does strike. If you do not have life insurance NOW is the time to have the discussion.

If you already have life insurance it is important to make sure that the amount you have is still appropriate, as life insurance needs are constantly changing.

Our Teen Safe Driving Seminar is SOLD OUT!

Thursday, February 1, 2018 Written by

 

2018 Drive Safer Drive Smarter Event SOLD OUT!

Teen Safe Driving Seminar & Interactive Workshops

This is a FREE COMMUNITY EVENT for parents and their teens

April 14, 2018

8:00 am to noon (Registration begins at 7:30 am)

Lancaster County Public Safety Training Center

101 Champ Boulevard, Manheim PA 17545

 

OUR 2018 EVENT IS NOW SOLD OUT!

We are so grateful for all our attendees. Please watch our social media posts for future Teen Safe Driving Events! 

 

Featuring a Very Special Guest: Jacy Good

 

 

 

Jacy Good, a former Lancaster County resident, has become one of the nation's most vocal opponents of distracted driving after a driver on a cellphone caused a 2008 crash that killed her parents and left her permanently injured.

 

 

 

 

Watch this very powerful video: https://www.youtube.com/watch?v=E9swS1Vl6Ok

Visit Jacy’s website – Hang up and Drive - http://www.hangupanddrive.com/

Sample segment aired on TV station (WRAL) in Raleigh, NC - http://www.wral.com/message-from-woman-orphaned-in-crash-hang-up-and-drive/17130233/

 

Additional speakers are:

 

Dale Amspacher, driver education teacher for A Safeway Driving School, will share smart driving tips and habits for teens along with helpful reminders for parents.

 

 

 

 

Officer Sandman, East Hempfield Township Police officer, will talk about DUI checkpoints, the dangers of drunk driving and teens can try his “Beer Goggles” to see the distortion caused by consuming alcohol.

 

 

 

 

 

 

Fun, Interactive Workshops

In addition to Jacy and Steve’s presentation, the “Drive Safer! Drive Smarter!” event will feature four different “stations,” each on a different skill set. These stations will include:

  • Parallel Parking: Dale Amspacher, driver education teacher for A Safeway Driving School, will share smart driving tips and habits for teens, along with helpful reminders for parents.
  • Impaired Driving: Officer Sandman, East Hempfield Township Police, will talk about DUI checkpoints, the dangers of drunk driving and teens can try his “Beer Goggles” to see the distortion caused by consuming alcohol.
  • Car Crash Site: Mike Zimmerman from Goodville Mutual will teach teens how to respond at the scene of an accident.
  • Pre-Check Your Vehicle: Teens will learn the steps to take before starting the engine.

Did you know that teen drivers with involved parents are twice as likely to wear seat belts AND 56% of teens rely on their parents to learn how to drive?

Parents are the key to safe teen driving! STAY INVOLVED!

Attendees will receive:

  • Continental Breakfast
  • Teen Safe Driving Book
  • I.C.E (“In Case of Accident”) Cards
  • Auto ID Holder
  • Giveaways and Prizes
  • And MORE!

The schedule for the “Drive Safer! Drive Smarter!” event is as follows:

7:30 a.m.: Doors open for breakfast and sign in
8:05 a.m. to 8:55 a.m.: Jacy Good and Steve Johnson will speak
9:00 a.m. to 9:25 a.m.: Dale Amspacher will speak
9:30 a.m. to noon: The four “stations” will each operate for 30 minutes throughout the morning, presenting four times so attendees can move in groups among the stations.

Space is limited!  Click the REGISTER NOW button at the top of the page, or call BCF Group at 717.560.7730, or email HeatherG@BCFGroup.net

 

 

Watch our very own Trent Hess in this video entitled “What Limit of Umbrella Insurance Should I Buy?” He’ll provide some excellent tips to help you make some decisions on this difficult question. While his advice is primarily for commercial insurance, his tips can also help you understand how to choose the proper limit for your personal umbrella policy.

CLICK HERE TO WATCH THE VIDEO

by Trent Hess, CIC, CRM
Business Risk Manager

 

As an HR Professional you play a critical role in your employer’s business, and in doing this you are often tasked with some heavy responsibilities. Hiring, firing, disciplining, making benefit decisions, staying compliant with laws, and so much more. These are all duties that unfortunately can invite lawsuits.

As an HR Professional, you can be held personally liable in some situations. I won’t go into detail about what those situations are, because I’m not an attorney and because you probably know this better than me already. What I want to focus on today are 3 insurance coverages that you should consider having your company carry that can help protect you if you are named in a suit.

 

#1: Employee Benefit Liability

 

This provides coverage for errors you make administering employee benefit programs. This one is important for you HR folks, because it protects you if you mess up. I know you never mess up, but if you did, this is what you want. So what are we talking about here?

The classic example involves your company’s Group Health Insurance. Let’s say your company’s policy has a 30 day waiting period. You hire a new employee, they fill out the paperwork after 30 days and give it to you, but it gets lost in the shuffle and falls through the cracks. You never send it in. A couple weeks later the employee has a serious accident at home that requires a hospital stay and surgery, but finds out they have no coverage because of your error. That’s Employee Benefit Liability. It can also apply to Group Life plans, Dental, Vision, etc.

These situations do happen. We’ve had claims, and let me tell you when these situations happen because of your error it makes you sick to your stomach. This coverage can help repair the situation.
This coverage can typically just be endorsed to your General Liability policy for a nominal cost – usually a couple hundred dollars at most. There’s really no excuse not to include this coverage, and a professional broker would have it included for you.


#2: Employment Practices Liability

 

If you’re in the HR world, you’re probably familiar with this one. This is the coverage that protects the company if a suit arises from discrimination, harassment, wrongful termination and other issues that arise out of the employment process. Generally the policies also protect employees, so if you are named in a lawsuit as the HR person, the policy would defend you which is important.

At this point more of our clients than not carry this coverage. If I was an HR professional, I would want to see that my employer has this insurance so that I would be protected if something happened. The cost is dependent on your industry and number of employees. It’s very easy for us to provide you with a pricing indication.

On a side-note, most EPLI policies include a tool that gives you access to HR Professionals (usually attorneys) that you can ask questions of at no cost. Many times they also include a library of HR materials. This is all just value-added Risk Management material that can be very valuable to HR professionals and is really “icing on the cake” to having the coverage.


#3: Fiduciary Liability

 

This is the least used policy of the 3 that I’m discussing here. To be honest with you, not many of our clients carry this coverage. That’s not because it is unnecessary, it’s really because it’s less understood by agents, insurance carriers and you, the insureds. It’s also not as easy to write the insurance.

So what does it do?

The ERISA Act of 1974 creates the possibility that fiduciaries could be held personally liable for alleged errors or omissions or breach of duty with regard to benefit plans. This can involve pension or profit sharing plans and ESOPS among others. But it can also include 401K plans. Even if you hire a 3rd party to manage the plan, it could be alleged that you made a poor choice in what provider to use.

Fiduciary Liability claims include a broad range of allegations, such as:

  • Denial or reduction in benefits
  • Failure to adequately fund a plan
  • Conflict of interest
  • Improper advice or counsel
  • Lack of investment diversity
  • Imprudent choice of mutual fund or 3rd party provider
  • And many more…

Claims can come from current or former employees, or from a government entity such as the Department of Labor. Coverage is usually relatively inexpensive and written on a separate policy than your standard General Liability coverage.

So….

  • Employee Benefit Liability
  • Employment Practices Liability
  • Fiduciary Liability

3 coverages you should be aware of and should explore to properly protect yourself as an HR Professional. Email me, call me, or look me up on LinkedIn. I’d love to answer your questions and talk with you more about this topic.

Thank you!

 

 I’m sure you have seen the devastating destruction and heartache that the recent hurricanes have caused to the United States and Puerto Rico. While those of us in the north were not physically affected by the hurricanes, the ripple effect of rebuilding will touch us directly.

Houston alone will need to renovate or rebuild 200,000 plus homes, in additional to local businesses that are in desperate need of repair. Most homes and commercial businesses in Puerto Rico are in dire need of power, repair, and rebuilding. The Florida Keys were impacted from one end to the other. The number of damaged structures is on pace to match the annual output for new homes, and to increase by more than 10% the already planned renovations.

We feel for those who have lost loved ones, belongings, entire homes and businesses. No words can comfort those who have gone through this, and our hearts and prayers go out to them. It’s been amazing to watch the help of first responders, neighborhood volunteers, and those that put their own lives at risk to help others. We are inspired by you.

As rebuilding starts and lives begin to go back to fall back into routine, those that were not directly affected by the storm will start to slowly feel the changes that will take place in demand and pricing. From construction materials, electric, even those to do the physical work, prices will change, and rebuilding businesses will be spread thin. As claim adjusters cut their checks and pay out for damages, the effects of the devastation will slowly creep into the insurance rates of those much further away from the center of these terrible storms.

We wanted to keep you informed of future changes and price increases which may not be felt until about 6-18 months after these devastating events. It might be easier to understand why they are happening when you know the reasons behind the changes.


Are you covered under your auto insurance if you use your car as an Uber? This is a tricky question to answer! Ridesharing is becoming increasingly popular around us. This can be a great way to get around for many people. It’s also a way to make extra income. Here are some things you need to know:

 

 

  1. Some insurance companies will not cover you at all if you use your car as an Uber

  2. When you show yourself as “available” for rides as an Uber driver, your coverage is by Uber only, but are less than your coverage under them if you have a passenger ($50K Injury, $100K total, $25K Property)

  3. While driving with passengers, you are not covered under your personal auto policy at all. Uber will cover you up to $1M Liability and $1M Uninsured/Underinsured Motorist injury with a $1K deductible

  4. If you have state minimum coverages and are an Uber driver you could have much less than you need in the event of an accident

  5. The state of PA is one of the only states that will cover you medically if you get into an accident while driving for Uber. The minimum state limit is $5000.00 for medical which could be much less than what you typically need

  6. If your auto insurance has comp/collision, Uber will only cover this if you have an accident while you have passengers in the car (not in route to the fare). This has a $1K deductible

  7. In the state of Pennsylvania, you must tell your lienholder or lender that you are using your vehicle for ride sharing

 

Some reminders from your friendly agents at BCF: Please check with your agent about your particular carrier’s position on Uber and whether you will be covered by them. State limit coverage (or the coverage that you have while you are showing available on Uber) is something we do not recommend. We don’t write policies at our agency for minimum coverage because of our deep experience in seeing that it is not typically enough to cover you after an accident. We also always recommend more medical coverage than the minimum for the same reasons.

 

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