R&R Insurance Blog

In CNA Insurance's 2016 "Claim Report", they recap the statistics behind dental claims for the year.  Below are a few that stuck out to me - all the more reason that we make sure your Practice is properly covered. 

1. The average indemnity paid  for general practitioners was $83,120
2. The average indemnity payment for specialists was $125,651; excluding oral surgeons the average was $98,626
3. The top 4 procedures associated with claims are root canals, surgical extractions, surgical placement of implants and crowns
4. 23% of closed claims allege treatment failure, resulting in a total paid indemnity of $17,892,090
5. Dentists who participated in the risk management education programs had claim costs 20% below the overall average.

As you become eligible for Medicare, you have options for your health insurance coverage. R&R Insurance has an Individual Health Insurance Department that can help you determine which plan would be best for you. The months leading up to your Medicare eligibility can be particularly overwhelming as many insurance companies will begin sending you mailings about the plans that they offer.

We are lucky to have four talented Individual Health Insurance experts located at different offices.

• Terry Frett - Waukesha
• Dianne Ogorzalek - Oconomowoc
• Donna Wahl - Menomonee Falls
• Liz Johnson - Waukesha

There are several parts of Medicare that can be difficult to understand and certain timelines you need to be aware of to avoid future financial penalties.  Our team can help you with:

• Understanding the “Alphabet Soup” of Medicare
• Reviewing your option of enrolling into Medicare or remaining on your employer’s plan
• Explaining the difference between traditional Medicare and Medicare Advantage (Part C) plans
• Evaluating your Medicare Part D (prescription drug) coverage options
• Understanding your requirement to enroll in Medicare Part B if you work for a small employer

If you would like to evaluate your Medicare options, or know someone who does, contact us for a complimentary consultation.

On April 6, 2017 the U.S. Department of Labor’s Occupational Safety and Health Administration announced a delay in enforcement of the crystalline silica standard that applies to the construction industry in order to conduct additional outreach and provide educational materials and guidance for employers.

The agency has determined that additional guidance is necessary due to the unique nature of the requirements in the construction standard. Originally scheduled to begin June 23, 2017, enforcement will now begin Sept. 23, 2017.

OSHA expects employers in the construction industry to continue to take steps either to come into compliance with the new permissible exposure limit, or to implement specific dust controls for certain operations as provided in Table 1 of the standard. Table 1 matches common construction tasks with dust control methods, so employers know exactly what they need to do to limit worker exposures to silica.

Construction employers should also continue to prepare to implement the standard’s other requirements, including exposure assessment, medical surveillance and employee training.

For more information, visit www.osha.gov or contact a Knowledgebroker.

The growing network of internet connected devices are continuously changing the way we live and work. Nowadays it is not surprising to find computing devices embedded in everyday objects, enabling them to send and receive data via the internet.

To efficiently manage interior operations and decrease costs, many new constructions are now "smart" buildings in which the building's systems such as room temperature, ventilation, HVAC controls, and security systems are connected to an external network. However, with these new capabilities come a new set of threats and opportunities for hacking. This smart building equipment can be used as "backdoors" for hackers to break into the system, giving them access to confidential information. This is especially dangerous for energy
producers, health care providers, high-tech manufacturers, and government agencies. A hospital, for instance, could take a serious financial hit if a hacker were to shut down an HVAC system in an operating room. Even worse, patients could be endangered.

Although people understand the need for all-around cyber security, a large number of buildings and companies are still exposed. Reasons for this could be that cyber threats to building-control systems have not gotten as much media attention as other related risks, such as massive data breaches. Others simply may not be aware that this threat exists for a functionality as simple and ordinary as controlling room temperature.

For additional reading on this topic, click here to view an article written by The Daily Reporter.

To learn more about cyber threats and how to keep your business secure, contact Carla Borda with any cyber questions.

You have a small business, your company doesn’t own any automobiles, and no one drives for their job… you don’t need any auto policy, right? Wrong! 

Do you or your employees occasionally visit a customer?  Do you drop items off at the bank, even on the way home?  What about go out for a company lunch?  Rent a car to drive to a seminar or trade show? Then you might want to consider Hired/Non-owned Automobile coverage. 

Hired/Non-owned Auto coverage is auto liability coverage for your business when your employees are driving on work-related matters.  In the event there is an accident, defending your company in case of a lawsuit. This coverage comes in to play when there is a vehicle being driven by you or an employee that is Hired (i.e. rental cars) or Non-owned (by the company).  So if an employee is driving his or her own vehicle to attend a trade show, there would be liability coverage to protect the business.  

This reasonably inexpensive coverage can be added to most general liability policies. Contact R&R Insurance for more information.

We have all found ourselves in the position of reviewing an MSB Building Valuation and comparing it to a building's current valuation on the policy. While the policy reflects the building valuation as replacement cost, the insurance policy actually responds providing a reconstruction cost. What’s the difference you ask?

Replacement cost is defined as the cost to construct or replace an entire building with equal quality and construction. A replacement cost does not include site improvements, demolition, debris removal, fees, premium material costs and other costs associated with the construction process. Replacement cost also assumes that current building material, design or layout will be available and used.

Reconstruction cost is defined as the cost to replicate the building, at current construction prices, using the like kind and quality materials, construction standards, design, layout and quality. The MSB reconstruction cost includes additional expenses related to repair and restoration contractors’ fees, the construction process itself, the location of the property, demolition costs and debris removal. These factors create a valuation that is higher than a new construction.

A cost provided by a builder for new construction will not include items provided for and included as property items within the ISO Commercial Property form (CP0010). The MSB Rating system is programmed with these additional costs.

If you have questions about your Commercial Insurance Policy, contact a knowledgebroker at R&R.

Does your organization desire the freedom of a self-funded insurance plan, but need a little more certainty for budgeting concerns? If so, level funding might be the answer to your employee benefits questions.

Level funding is an option that can coincide with a self-funded plan. With level funding, employers pay a set amount each month to a carrier. This amount typically includes the cost of administrative and other fees and the maximum amount of expected claims based on underwriting projections, as well as embedded stop-loss insurance.

Pros of Level Funding

• Do not need to pay premiums that are based on community rates
• Only pay the actual claims + administrative fee
• Money set aside each month to cover claims that is NOT used will be refunded at the end of the year from the surplus

Cons of Level Funding

• You will still need to pay the claims
• The administrative fees may cut into the savings you hope to gain from having a self-funded plan
• Many level funding plans restrict their offerings to companies with a certain number of employees

R&R Insurance has extensive experience in the world of employee benefits. We welcome the opportunity to discuss the pros and cons of level funding for your organization.

Information provided by Zywave, Inc.

We are frequently asked "Who is covered under our commercial general liability policy?"

Reading your commercial GL policy and determining who coverage applies to can be confusing. The list below will more clearly outline who your coverage applies to:

• Individual: Named individual and their spouse
• Partnership or Joint Venture: Named partnership, named joint venture, partners, members, and their spouse
• Limited Liability Company: Named LLC, members, and managers
• Organization (Corporation): Named entity, executive officers, directors, and stockholders
• Trust: Named trust and trustees

In addition to the list above, there may be others who are afforded coverage under your policy with differing circumstances. In order to determine any gaps, contact your KnowledgeBroker.

Is your organization taking advantage of the numerous ways to save money on health insurance? Are you looking to reduce your insurance premiums?

While there are numerous benefits to implementing and maintaining a robust wellness program, reducing the number of employees who smoke is an important piece of the wellness puzzle. Proactively providing smoking cessation programs will have a direct impact on your health insurance premiums. In addition, smokers commonly have longer recoveries from surgery and often need repeat surgeries which causes work comp claims to skyrocket on individual surgical claims.

The Charolotte Observer recently published an article with examples of doctors refusing to operate on those who smoke. According to research, one study found that smokers who got joint replacement surgery had an 80 percent higher chance than nonsmokers of needing repeat surgery because of complications from infection.

Click here to read the full article.

Are you looking to revamp or jumpstart a wellness program at your organization? Contact me to learn more about the resources R&R has available to assist.

Each year as the weather gets warmer, the bikes come out. So it's good to know the rules of the road for motorcycles and how to drive safer around them. Here are a few key points from this great article by Mike Rodgers:

• When making left turns, look for traffic...then look AGAIN for bikers
• Let them swerve and leave as much space as possible
• Stay back - rear ending a motorcycle is obviously much more dangerous than a vehicle
• Make a conscious note

Have fun and be careful out there!

Motorcycle Roads: Find routes, maps, rides and trips

Killboy.com: Motorsports photography taken from the Tail of the Dragon

Motorcycle Related Links

World's Worst Motorcycle Crashes

Discovery Channel Motorcycle Wipeouts

For Wisconsin residents looking for Motorcycle Insurance, Home and Auto Insurance, contact knowledgebroker Jeff Wolfgram.