Risk Management Specialists

Consultants In Risk Management, Claims Management, Expert Witness Work and Employee Benefits

Risk Management Articles

By our T.E. Brennan Company Consultants

We are the oldest independently owned risk management consulting firm in the United States and boast a successful 120 year history. Our consultants are specialists in their field with a superior level of expertise. Each article is formated for print.

Employers Fiduciary Responsibility and PPACA

For most employers, fiduciary responsibilities have been difficult to manage, but with the addition of the
Patient Protection and Affordable Care Act (PPACA), many employers may not be aware of what they do not know.

A fiduciary is the person(s) who makes decisions regarding the administration of the health plan.
By Tammy Yager
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Umbrella and Excess Liability

Umbrella and excess liability policies provide additional protection above that provided in underlying general liability, auto liability and employers liability policies. These policies can also extend over other types of liability policies such as policies providing coverage for employee benefits liability, professional liability, employment practices liability and public officials liability.
By Bob Burnside
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How Would You Like to Explain This to Senior Management?

A recent survey by the Association of Certified Fraud Examiners indicates that fewer than 8 percent of fraud perpetrators had a prior criminal conviction. This percentage casts doubt on the effectiveness of pre-employment background and credit checks. What does all of this potentially cost? According to the ACFE study, the median loss for a small business is estimated at $160,000. Nearly one-quarter of the frauds involved losses of at least $1 million.
By Arlene Petersen, published in OnBalance Magazine
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Do You Know Where Your Workers Compensation Mod Will Go?

In October of 2013, the State of Wisconsin, which relies on the National Council on Compensation Insurance (NCCI) will be increasing the primary excess loss split. In order to calculate the workers compensation experience rating modifications, an insured’s incurred losses are split into two parts, a primary loss portion and an excess loss portion. The amount of the incurred loss equal or less than the “split point” is the primary loss and the portion in excess of the split point is the excess loss.
By Tammy Yager
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Who Do You Want Living In Your House?

There are many business insurance policies that, within reason, offer standard terms and conditions of coverage. Automobile and workers’ compensation insurance are good examples of this approach. There are other forms of insurance that use non-standard wording and conditions.
By T.E. Brennan Company, published in OnBalance Magazine
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Is Using a Risk Management Consultant Right For You?

Many organizations use consultants as a source of outside expertise, but anyone can be called a consultant. The title may be used by anyone – even those with limited knowledge and/or questionable ethical standards. Some states have licensing laws, but even in states where consultants are licensed, there is nothing to prevent consulting and insurance sales being generated by the same person.
By Arlene Petersen
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Do You Know Where Your Policies Are?

What corporate documents must be retained and for how long? It’s a common client question. Because of a recent decision by the Connecticut Supreme Court, Security Insurance Co. of Hartford v. Lumbermens Mutual Casualty Co. et al, it appears the answer relative to a client’s insurance policies should be — FOREVER.
By Arlene Petersen
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Hackers May Be Able to Control Your TV or Car

Forget Smartphones, It’s Smart TVs We Should Be Worried About

Technology has afforded us with a level of convenience and entertainment that was unimaginable just 10 years ago. But despite all of the positive attributes that gadgets like smartphones and Google Glass, there’s an underlying issue that has become downright frightening over the past several months largely due to revelations concerning the NSA and the FBI’s spying abilities: personal privacy.
Reprinted by permission of River Run Computers, Inc.
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Beware of That Blinking Red Light

“What happened? Are you telling me that the contractor hired someone else to do some of the work on this project? Who caused the problem to occur? Well, I have a certificate of insurance from them somewhere around here. This piece of paper is supposed to give us coverage. What do you mean ‘what if it doesn’t’? We might not have coverage? No, I don’t know what the liquidated damages clause means in this situation.
By T.E. Brennan Company, published in OnBalance Magazine
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Meeting our clients’ risk management needs to the highest ethical standards since 1895.