Captive insurers are insurance companies that are owned by those they insure. These companies are started to meet specific uninsured or costly insurance needs of their insured owners. Although it may seem like a relatively new concept, the captive insurance industry has been around since the 1940s and was targeted for extensive regulation by the IRS in the 1970s.

Traditional Insurance

Traditional insurance provides coverage to almost any person or industry based on an underwritten review. Their purpose is to mitigate losses, but these losses are general and shared among industries or individuals. Traditional insurance companies’ clients do not own the company and they pay specific premiums based on their underwritten review of their risks. These companies typically handle large losses.

Captive Insurance

Captives are a private insurance companies started for a specific purpose by the people or companies they insure. These companies provide alternative risk financing. Because they are insurer owned, captives are customized to specific risks and industries. For example, they may only cover cybercrime, inclement weather or equipment failures for a specific construction company.

Captives are typically formed to provide supplemental insurance. In addition, these companies are typically small, so they are flexible and able to more easily react to market changes. Captives also provide an income source for their owners.

Captive Operations

Captives choose their partners carefully because the insureds’ assets are at risk. Therefore, these companies should have experienced underwriters, investors, auditors, claims management and legal support. In addition, a reinsurer may hold and manage the captive, but one or more committees may be set up to oversee the management team. Because captives are income sources, their management is crucial and must be monitored.

If you have areas in your company that you cannot insure through traditional insurance or if the cost of insuring these risks is too high, creating a captive may be an option. Not only can you supplement and customize your coverage, but you may also develop a new source of income.

There were 417 mass shooting events in the United States in 2019. With high-profile mass shootings occurring in schools, workplaces and shopping centers, it has become more important than ever to have a plan in place to effectively respond to an active shooter situation.

Alert First Responders

As soon as it is safe to do so, call 9-1-1 and report the active shooter. If you have a cell phone, use it. If not, once you have evacuated the building, try to get to a public phone or a nearby business and ask them to let you use their phone or get them to call 9-1-1 for you. Some facilities have installed threat response solutions that utilize technology to quickly alert first responders. If you can safely access and know-how to activate this technology, use it. If you are responsible for a facility, you should ensure that the people using it know where and how to alert first responders during an active shooter event.

Evacuate

If there is an accessible escape route, try to evacuate the building. It helps if you already have an escape plan in mind before the event occurs. Employees should be trained on how to respond to an active shooter and made aware of the best escape routes. Customers and visitors will likely follow their lead. Do not try to take your stuff with you. Help others if you can, but if they refuse to evacuate, leave them behind. Do not attempt to move wounded people. Avoid entering areas where the active shooter may be. Keep your hands visible and follow instructions from any police officers you encounter.

Hide

If you can not evacuate and are already in a room with a lockable door when the event occurs, stay there and lock the door. If there is anything in the room you can barricade the door with, this may also help. If you are in a hallway, go to the nearest room and close the door. Lock it if you can. Shooters often pursue the easiest targets and may simply pass by rooms with locked doors, rather than try to break in. Avoid windows and try to find something you can hide behind or in. Silence your cell phone and any other source of noise.

Mass shooting events are still relatively rare occurrences; however, being prepared to effectively respond to one can save lives. Consider incorporating these strategies into your active shooter response plan.

While owning a business of any kind can be stressful, operating an industrial facility is a whole different type of challenge. The demands placed on your organization by clients, investors, and regulatory bodies can be intense. Luckily, there are many ways for you to adhere to these demands and still run an efficient facility. Paying attention to the most important aspects of your operations can shed light on the most immediate concerns. Consider these factors and learn how to make the best adjustments for the future of your business.

Energy Consumption

These days, sustainability is a big topic amongst consumers and business owners alike. With dwindling resources and environmental threats looming on the horizon, it is up to businesses of all sizes to focus on ways to contribute to sustainable solutions. Since industrial facilities consume a lot of energy in daily processes, finding new energy sources is key to your long-term success. Consider how switching to solar panels can help you meet new green guidelines and save some money along the way.

Equipment and Machinery 

Another key area to focus on when considering the efficiency of your industrial facility is the equipment you use in daily operations. When machinery becomes faulty or falls into a state of disrepair, it creates a number of new issues. Not only will your facility become less safe, it can also delay your operations significantly. To avoid this and see better results, look into replacing and repairing filling machines and equipment at the first sign of trouble. This will lower your facility’s risks of an accident and provide you with peace of mind.

Regulations and Standards

Though it might seem like a given, it is critical that you pay attention to the regulations put forth by organizations like OSHA. The Occupational Safety and Health Administration dictates the rules that your industry must follow. If you are unaware of a new regulation or have chosen not to adhere to a specific rule, it can lead to disastrous consequences. Stay mindful of these rules and why they are in place. This can help you avoid expensive fines and keep all of your employees in a safe and protected place. 

Though there are a number of pressing factors to focus on at any given time, giving yourself a chance to pay attention to the most important can be a lifesaver. Take a moment to assess the risks associated with your facility and discover how making a few small changes to your daily operations can yield a number of positive results.

Many states have granted permission for places to once again perform business; however, with that allowance also comes a responsibility. Proprietors are now responsible for thinking about the health and safety of their customers and staff. New regulations are in place, asking owners to re-evaluate operations, making changes as necessary to secure the facility.

1. Are You Allowing for Social Distancing?

The CDC encourages people to stay at least six feet apart to prevent the spread of germs. That can be hard to accomplish when people are trying to check out merchandise. Instill the importance of this in your employees and then set up reminders throughout the building. Place signs in prominent places, particularly heavily frequented sections. In areas where people wait for assistance, mark off the space using painters tape. These less evasive manners are gentle reminders that others can still shop while respecting guidelines.

2. Are You Ready To Handle New Cleaning Procedures?

Chances are you had a cleanup routine prior to the pandemic; however, it may require some revamping now. Sit down with the current CDC guidelines and state protocols. Design a clear checklist for everyone to use each night. You may even want to shut down an hour early to allow for the additional work. All counters and doors should be wiped, so stock up on cleaner and janitorial cleaning rags. You don’t want to run out of either. Consider purchasing air purifiers for the HVAC system or for rooms used frequently or for longer periods of time. In addition, anything that may have been handled a lot should be scrubbed before being placed back out for the next day.

3. Are Your Safeguarding Staff and Customers?

During certain points, the six feet rule just won’t work. How do you plan to handle those moments? Are employees going to wear a mask? Do shoppers adorn one too? You may want to encourage the action even if it’s not required. In addition, consider putting up a Plexiglas barrier at the purchase stations. Touchless checkouts are also an option to reduce interaction and speed up the face-to-face contact. You want to focus on minimizing exposure levels. That means moving through things as quickly as possible with little air distribution.

The world is different right now. To keep the doors open, it’s not just about product. It’s also about protection, so focus on what you as the owner can do to make others comfortable.

The world of real estate investing is changing quickly and for those who are looking for the right investment property, it is important to know where the income is going to come from. Understanding how to make money through real estate investments is the first step in coming up with a strong plan. There are two ways to make money in the world of real estate. The first is through income and the second is through capital appreciation. What is the difference?

A Reliable Income Stream from Rent

The fist way to make money through real estate is to generate a steady income through rent payments. When looking for a property, it is important to think about how easy it will be to find long-term residents and how much money the property will make per month. Rent payments have to be large enough to cover not only the mortgage but also real estate taxes, homeowner’s insurance, and potential repairs. Take a look at the rental market before investing.

Capital Appreciation from Real Estate

Next, it is important to take a look at the potential for capital appreciation as well. Capital appreciation takes place when the property value rises over time. For example, an investor might buy the property for $250,000 and then sell it for $350,000. Take a look at the market in the area. See what the average annual capital appreciation is for property in the region. This will help investors make the right decision when it comes to investments.

Find the Right Property for Real Estate Investing

This is how investors can make money through real estate. It is important to think about both income and capital appreciation. Both of these factors have to be present in order for real estate investors to generate a strong return on their investment.

Kratom isn’t new. However, it is a new product in some areas, like the U.S. You can find a massive selection of Kratom products, and there are different ways to use it. Also, you can find different strengths and variables, which impact how you use it.

If you are ordering Kratom online, you are faced with another task – choosing the best type and brand. While you can always choose a trusted brand like KratoMystic, it is also a good idea to know what to look for when you are making this purchase.  

Feedback from Past Customers

Just like when you purchase any other product, it is a good idea to look at the customer feedback before you purchase Kratom from anyone. This is going to help you determine if you have found a credible vendor regarding the products they offer.

Along with customer feedback, you can also request a sample product to try before you buy. Not all vendors offer this, but it is a good sign if they do. It means they believe in the product they offer.

Look at the Vendor’s License

You must look at the vendor’s license before you order from them. A licensed vendor will sell quality products to their customers. Be sure you always buy from a licensed seller (if possible). This will help ensure that the business you are working with is genuine and trustworthy.

Look at the Quality

Even a licensed vendor may sell a low-quality product. As a result, you need to consider the quality. If the product is sold for a very low price, there is likely a reason.

While Kratom is popular today, it is still essential that you take the time to find a quality product. The tips here will help you do this and ensure you get the best product for your money. 

To survive in the business world, companies need to comply with many rules and regulations. Even overlooking a minor detail can cause problems. This is why legal entities and corporate secretaries are the most important members of any multinational company.

They ensure that the business is compliant and this is why they need a great entity management system. This will make their work easier and also guarantee that your company is complying with everything.

Here are the many benefits of a great entity management system and why you need to choose the right one.

Decreases Entity Risk

A good system will ensure that all processes are centralized. This will automate processes and create an optimized workflow for all the users. This will help the relevant teams in managing your entity risk efficiently.

The system will provide you with real-time metrics and compliance activity so everything can be done on time. This will greatly reduce your entity risk as compliance will be done efficiently and in due time.

Encourages Collaboration

A good entity management system will provide you with the tools you need to encourage collaboration and integration. This includes workflows, tasks, and many other tools that will make reporting easy.

Anyone using the system will be able to run their reports. This will streamline the entire compliance process and entity managers will have more time to focus on compliance.

Information Available At Fingertips

Any data, report, and anything else an entity manager may need will all be centralized within the system. This will save a lot of their time and effort in looking for data as all of it will be in one place.

Any information they need will be available there and then. This will greatly reduce the risk of penalties, non-compliance, late fees, and missing deadlines.

It will also help them in providing accurate information as a good entity management system will store and update all the information in one place.

Quick Response

Sometimes compliance and governance matters are time-sensitive. This may put additional burden on the corporate secretary or the entity managers as they need to fulfill these time-sensitive requests as soon as possible.

If there is no subsidiary management system then chances are that time-sensitive requests will not be done on time. This is because the managers will be running here and there trying to collect information and doing what is required.

However, with a proper management system all, they need to do is open the software to collect information. This will ensure that they are responding quickly to compliance and governance issues of a sensitive nature.

Final Words

A good entity management system promotes precision, efficiency, security, centralization, and integration. This is why you need to choose a great system so your business can benefit from it.

Once you have your system, your users need to be trained so you can make the most of it. Updating technology is one of the main ways to stay ahead in the business world so make sure you have such a system for your compliance needs.

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It is no exaggeration that any business’ productivity is based on the productivity of its employees. In this digital age, employers keep looking for new and unique ways to keep track of their employees’ performance. If you are an employer, here is good news for you: Now you can invest in an employee productivity app to keep an eye on everyday work routine of employees.

If you are not sure whether you should consider investing in an employee productivity app, then there are many things that you need to know. It would not be wrong to say that it is the responsibility of an employer to make every possible effort to increase the productivity of their team. This is where employee productivity app comes in handy. It does not only track employee productivity but also analyze overall business productivity. In addition to that, it comes with advanced tracking features that an employer can make the most of.

Not convinced yet? Let’s take a look at a few reasons why the app is worth your money.

Real-Time Activity Tracking

Micromanaging the employees of your organization has become the thing of the past. If your employees are working in their workstations, make sure that you let them do their work without micromanaging them.

But as an employer, it is important for you to aware of the hours they actually spent to complete the assigned task. And this is exactly where the employee productivity app come to the rescue. With the help of this app, it will be a whole lot easier to monitor the activities of entire team.

Now you maybe wondering how you can monitor their activities? Well, with the help of advanced automated screenshot features, you will be able to do so. This is one of the most effective ways to manage the task you assign to the employees.

Easy to Use

There are a majority of employers out there who dread investing in the employee productivity app. Why? Because they think that they are too confusing and difficult to understand. What you need to know is that when the manager logins, it won’t be difficult for you to know whether any specific team member is on leave or not.

In addition to that, you will be able to find out whether all the team members are available online or came to work late, etc. The best thing about this app is that you don’t have to manually go and check out. Without even leaving your workstation, you will be able to know all the important details about any specific employee.

Effective Project and Resource Management

Planning your project well in advance is one effective to complete it prior to the deadline of the project. An important thing that you need to know is that by investing in the task management of the employee productivity tracking app, you can easily determine the time your employees took to finish a certain project.

With the use of this tool, you will also be able to optimize your time and money. If you are wondering how, you need to know that when you successfully estimate the time effort, you will also be able to plan the resources you need for your project accordingly.

Enhanced Employees’ Productivity

There is no denying the fact that every employee’s productivity plays a vital role in boosting the productivity of your overall business. Hence, it is crucial to have productivity tracking app so that you can easily track the real-time productivity.

When you have this app, you will be able to closely monitor the productivity of every team member against certain time intervals. This is how it becomes easy for you to analyze the productivity of your business in no time.

Track Internet and App Usage

With the employees using the official internet, it is your right to know whether they are using it to access useful documents, sites, or video related to work. Productivity apps come with app and URL tracking feature that the employer can use to monitor whether the employees access productive apps during work hours. Maybe your team members are watching a show or movie using Cox Cable packages. The best thing about the app is that it also records the real-time spent on the apps.

This is a great way to determine whether the overall internet usage of an individual was on a productive or non-productive app. If you find out that your employees are mostly using unproductive apps, then you can also get those apps blocked. This way, you can cut the unwanted costs of internet. However, when you opt for internet from Cox Communication in Las Vegas, you will not have to worry about paying expensive bills.

Employee Performance Analysis

With the help of real-time data and productivity graphs, the managers or supervisors can easily track their team members. Not only that, the employee productivity app helps you with evaluating the real-time performance of all your employees.

It points out the mistakes made by the employees. Yes, you read it right- it plays a vital role in evaluating any employee. You can note down those mistake and discuss them with them during performance appraisal.

Likewise, you can also see the most productive employee list on the app. As a manager, it plays a vital role in getting to know about the best performer in the team. When you know that, you will be able to retain the best employees and manage to provide them suitable perks they deserve.

Author Bio:

About Caroline Eastman:

Caroline is doing her graduation in IT from the University of South California but keens to work as a freelance blogger. She loves to write on the latest information about IoT, technology, and business. She has innovative ideas and shares her experience with her readers.