Risky Business - Setnor Byer

30 Nov Did You Know? The U.S. Longshoreman and Harbor Worker’s Compensation Act can Apply to Injuries within the Territorial Waters of Another Country

Posted at 17:30h in Commercial Insurance

The U.S. Longshoreman and Harbor Worker’s Compensation Act (Act) was enacted to create a uniform system to compensate longshoremen and harbor workers for workplace injuries that did not depend on the precise site of his or her injury. However, the Act states that such compensation...

16 Nov Self-Storage Practice Pointer: Waivers Under the Servicemembers Civil Relief Act

Posted at 17:18h in Self-Storage

When it comes to enforcing a storage lien against a delinquent servicemember-tenant, owners and operators of self-storage facilities must make sure they proceed in accordance with the Servicemembers Civil Relief Act (SCRA). The SCRA is a federal law designed “to provide for, strengthen, and expedite...

15 Nov The Continued Importance of an Insurer’s Financial Strength

Posted at 17:10h in Personal Insurance, Risk Management

If a coin comes up tails 100 times in a row, is it more likely that the next toss of that same coin will be heads? The answer is no. Since, as they say, "a coin has no memory," the first 100 tosses do not...

11 Nov There’s something about Mary

Posted at 17:00h in Risk Management

"Angel speaking," I said, my customary phone answering protocol. "Hi Angel, my name is Mary from XYZ Printing." "Who? " I replied. "Mary from XYZ Printing. I'm new here," she continued timidly, "and they gave me a list of people who have done business with us in the...

02 Nov Condominium Governance: Guiding Unit Owners through Financial Struggles

Posted at 15:07h in Condominium Governance

The overall health and stability of a condominium community is often viewed as a function of the whole rather than the sum of its parts. As such, those choosing to make their home in a condominium community understand the manner and extent to which their...

31 Oct Workers’ Compensation and Telecommuting: Enjoying the Benefits While Controlling the Risks

Posted at 14:57h in Human Resources

Although telecommuting is not a new phenomenon, it has certainly gained traction since the turn of the century. According to the American Community Survey, which is conducted annually by the U.S. Census Bureau, the employee work-at-home, or WAH, population grew 61% from 2005 to 2009....

20 Oct Healthcare Reform Prompts Many to Explore Alternatives to Health Benefit Programs

Posted at 14:43h in Commercial Insurance, Health Insurance

The passage and continued implementation of Healthcare Reform, as well as its uncertain political future, have placed employers in a precarious position with their health benefit programs. Nevertheless, employers continue to do their best to balance the need to attract smart and sophisticated employees by...

18 Oct SBA Loans: Are They A Revolution In Self-Storage Financing?

Posted at 14:04h in Self-Storage

As of the release of the Standard Operating Procedures (SOP) 50 10 (5) (C), effective October 01, 2010, if an entity is "primarily engaged" in the provision of mini warehouse / storage services, not the leasing of real estate, it falls under the passive businesses...

18 Oct Maximizing Coverage for Multi-Building Condominium Associations in the Event of Insurer Insolvency

Posted at 13:57h in Condominium Governance

If an admitted insurance company becomes insolvent, the Florida Insurance Guaranty Association (FIGA) generally becomes obligated to pay up to $300,000 for each covered claim. However, for multi-building condominiums, the manner in which the association’s property insurance is structured could affect the amount FIGA will...

14 Oct Asking the Wrong Questions

Posted at 13:51h in Human Resources, Risk Management

Often times in business, we have the opportunity to get exactly what we want and need. The problem is, we just don’t ask for it correctly. Take, for example, something I did just the other day. I wrote an article and sent it to one of...