Tag Archive for: business

Experience Rating Plan Changes in 2017

Take note: the Experience Rating Plan changes in 2017!

Experience rating is a system that benchmarks an individual employer against others in its industry based on that employer’s historical claim experience. The experience is expressed as a percentage and is referred to as an experience modification or X-Mod. This is then applied to an employer’s workers’ compensation premium.

Generally, an experience modification greater than 100 percent increases the cost of the employer’s workers’ compensation premiums. Similarly, if an experience modification is less than 100 percent, its cost is lowered. The Workers’ Compensation Insurance Rating Bureau of California administers the experience rating system and produces X-Mods for rated employers.

Following several years of research and outreach, in 2015 the WCIRB proposed changes to the experience modification formula that were adopted by the Insurance Commissioner and will take effect on January 1, 2017.

Below are some experience rating facts that you may or may not know!

  • Experience rating provides a financial incentive for workplace safety
  • It is a comparison of an employer’s loss history to that of similar companies that are of similar size
  • The number of claims (frequency) and the cost of those claims (severity) impacts an employer’s experience modification
  • Part of the California Code of Regulations and approved by the California Insurance Commissioner
  • Required for businesses that meet the eligibility threshold
  • Approximately 120,000 employers are experience rated in California

To learn more about how the experience rating plan changes in 2017, click here! For all of your insurance needs to see your business through the 2017 and beyond, contact Chambers & Company Insurance Brokers today to secure the right policies for you.

Does Your Business Have a Preparedness Plan?

Preparedness Plan

Would your business be able to survive a disaster? A preparedness plan can help.

If a natural disaster were to disrupt your business, would it be able to pick up the financial pieces? Unfortunately, breezing your way through a natural disaster is not easily done. Many companies these days are creating a preparedness plan to bounce back from any form of natural disaster.

Natural disasters interrupt your business for days or months with the potential of your business never being able to reopen. It’s estimated that 1 in 4 companies never reopen their doors after a disaster, with 1 in 5 businesses experiencing a business disruption. As no one can control the weather and divert rainstorms away, you can take action to protect your business! As a business owner, set up a disaster plan so that you and your team knows what to do should tragedy strike.

When creating your plan, be sure to include:

Direction and Control 

This area of your business continuity plan will give a summary of some of the key areas. While explaining the reasons for this plan, it should be noted whose responsibility it is overseeing duties and the incident workflow.


Increase the safety of individuals as well as the property by clearly communicating during an emergency. Establish the location of emergency contact information, who notifies employees, and how customers and suppliers would be informed if something were to happen.


Inform your staff the proper procedures to follow in case of an emergency to ensure everyone’s safety. Safety training, shelter locations, check-in sheets, and even family preparation for employees should be established in this section of your plan.

Property Protection

Trying to replace a business’s property can be a big enough financial struggle that it can keep the doors closed for good. Ensure that you protect your investment in an emergency that you cannot control. Create mitigation steps for each threat. For example, in the case of a fire, you should have a backup records procedure, along with fire protection systems labeled.

Recover and Maintain

If the unexpected were to happen, you should know how to get your organization back up and running again in the most efficient way. It should be noted who will hire new employees, what employees will be kept on, and the team expectations. To prepare everyone in the company for an emergency, there should be multiple drills, exercises, and audits every year.

While recovering your business is no small fete, it doesn’t have to be a prolonged disaster. Let the professionals protect your business;  contact Chambers & Company Insurance Brokers to get started on your tailored insurance policy! Check out your free commercial insurance quote here.

Enter These Tips to Reduce Cyber Liability Risk

Reduce Cyber Liability Risk

ENTR the safety, CNTRL the risk and delete the spam. Here’s how to reduce cyber liability risk in your business!

Every business, small or large, needs to recognize the threat of cyber liability. Potential cyber-attacks can threaten any business, at any time. No hacker or cracker waits for a convenient time for your business to go on hold. Should information fall into the wrong person’s hands, your business, employee’s identity, vendor’s information will be highly compromised. A sure way to avoid the attack and lessen the impact of cyber liability is to train your employees to recognize and deal with these incidents.

Empowering your employees to identify common cyber threats can be beneficial to the security and organization of your business’ information online. Train your current employees these top tech tricks as well as including this as part of the onboarding routine for new hires.

  • Company Data: You and your employees have legal and regulatory obligations to respect, private information to protect, and a company’s reputation to preserve. No company data should be released when unnecessary.
  • Passwords: Encourage your employees to change their password every month, and to select strong ones that can’t be predicted. You’re not fooling anyone with the password ‘Password123’.
  • Unauthorized Software: Never let employees download software that is not verified or unlicensed. This can make the computer susceptible to malicious software downloads that can corrupt the data. Make it a policy to confirm with the supervisor before downloading any new software.
  • Internet Use: Train your employees to avoid suspicious forms and websites online. Avoid sites that have pop-ups and an unsecured network.
  • Email: Educate your team on determining scam emails from unrecognized senders and suspicious subject titles, and how to properly dispose of these emails.
  • Document Management: In the event of an employee’s computer becoming infected with a virus, employees should immediately report the incident to the IT team for investigation and action. Employees should be trained to recognize a serious threat or alert and act on it to ensure no further damage occurs.
  • Sensitive Information: Limit the number of employees who can access the company’s critical data.

Through the proper protection of your company’s data and devices, you won’t face hackings, corruption of data, or a release of all sensitive and personal information. These circumstances can destroy your business’ reputation and credibility, potentially closing your doors for good.

For the proper protection to prevent your company suffering from such a disaster, purchase Cyber Liability Insurance. Check out our tips on how to purchase this much-needed insurance in today’s society. To get started on your policy, contact Chambers & Company Insurance Brokers.

5 Effect Ways to Recognize Your Employees

Recognize Your Employees

Boost morale and productivity by implementing ways on how to recognize your employees.

Your employees are far more likely to stay with your company if they’re happy, satisfied, and valued. In turn, appreciating employees for stellar work is vital to maintaining morale and boosting productivity. If you want to make the most out of your team, you should start to recognize your employees!

To employees, a nice salary, enjoyable jobs, and plenty of benefits create an attractive offer. However, no member of staff will stick around at a job where they feel undervalued or unappreciated.

Putting some thought into employee gratitude is well worth the effort! Here are some tips to get you started:

Be sincere. There is no better way to inspire employees than by offering your genuine gratitude for their efforts and hard work. Note that your attempts at employee recognition will fail if an employee doesn’t consider your communication heartfelt.

Recognize achievers. One of the best ways to recognize employees is to spread the word about noteworthy individuals and team accomplishments. Giving credit where credit is due will help to communicate to your staff that you appreciate them.

Support employee goals. If your company can, offer to pay a portion of an employee’s education costs or organize training and development opportunities for the staff.

Be flexible. If it works for your business, consider allowing trusted employees to work more flexible schedules that better coincide with their personal schedule. Flextime and telecommuting can be among the best employee benefits with the lowest cost for employers!

Treat them now and again. Recognition doesn’t have to be about picking out only one-star employee. Maybe everyone on the team pitched in to land an important client or meet a big deadline? Consider taking the whole team out for lunch or giving them half a day off!

Employers, implement these tips today to recognize your employees, boost morale, and improve productivity. So that you can focus on your team, contact the professionals at Chambers & Company Insurance Brokers to secure the right commercial insurance policies for your business today.

Cyber Liability Tips for Your Business’ Social Media Presence

Cyber Liability Tips

Social media has taken over the world. Does your business know these cyber liability tips?

Social media isn’t just for personal use. Businesses are adopting this platform to utilize contacts, network, and promote. Social networking sites allow businesses to transform from their traditional marketing strategies by developing and deepening the relationship between the company and the customer.

With that said, mistakes happen. Companies should be careful about what they publish on social media, as well as allowing employees to access social profiles. Whether intentional or unintentional, staff can threaten the business’s reputation on social media with defamatory comments of other members of the team, vendors, or even the company itself.

Businesses should implement these cyber liability tips:

  • Establish a review process for social media content or limit the number of people who can comment on a post.
  • Train employees so that they understand the brand image, voice, and can recognize ‘trolls’ on the Internet.
  • Never publish copyright content without the copyright holder’s permission.
  • Regularly change the password to social media platforms.
  • Only allow a limited number of people onto profiles.
  • Purchase Cyber Liability Insurance.

Cyber liability insurance is designed to protect your business from legal expenses and lawsuits that your company faces after a social media mishap. From data breaches, cyber attacks, and defamation of business associates, cyber liability coverage can step in to protect your business from financial strain.

As a lot of businesses start to adopt social media into their everyday routine, they should be aware of the risks. The potential for risk should inspire your business to be prepared. With these cyber liability tips, your company can stay safe from social media mishaps and potential lawsuits!

Do you have the right cyber liability insurance in place for your business? Contact the professionals at Chambers & Company Insurance Brokers, located in Camarillo, to get started today.

Does Your Business Need Commercial Auto Insurance Coverage?

Commercial Auto Insurance

Is driving your business (or part of it)? You may need commercial auto insurance.

As a business owner, it’s natural to want to protect your foundation and employees as well as you can. Whether you own a pizzeria, landscaping business, or party bus, if your business uses a vehicle, you’ll need commercial auto insurance. Even if you only make deliveries every other weekend or pick up equipment once a month, personal auto insurance more often than not won’t cover you for a work-related incident.

Fortunately, commercial auto insurance protects many facets of your business through the following policies:

Bodily Injury Liability – For other drivers’ and passengers’ injuries or death that you caused.

Property Damage Liability – For damages to someone else’s property for which you are responsible.

Comprehensive Coverage – If your vehicle is damaged in an event other than an accident, such as a theft, vandalism, or from a tree branch falling on your vehicle, this insurance will step in to cover the replacement costs.

Collision Coverage – For your vehicle when your car hits or is hit by another vehicle.

Uninsured/Underinsured Motorist Coverage – Covers all of your staffs’ injuries, damages, and death caused by an at-fault driver with no or too little insurance coverage.

Medical Payments Coverage – To cover the costs of medical bills incurred by you and your passengers in your work vehicle from an accident.

Beyond these fundamental components, you can customize your business car insurance policy with the following coverages:

  • Roadside Assistance – If you break down on the side of the road, this service can deliver fuel to you or tow you to a nearby garage.
  • New Vehicle Replacement Cost Coverage – Your totaled, brand new car can be replaced for one that’s the same model year as your totaled car.
  • Rental Reimbursements – If your vehicle is in the garage, you may need to get a rental car. Fortunately, it won’t be out of pocket with this coverage.

Commercial auto insurance protects your vehicle, employees, and business from falling due to a stumble. Maneuver the road ahead with reliable coverage by calling the professionals at Chambers & Company Insurance Brokers today.

What Your Business Needs to Know About Workers’ Compensation

Business Needs to Know About Workers’ Compensation

Do you know the essentials about workers’ compensation?

Every business has its own unique set of risks and dangers when it comes to employees working. Therefore, every business owner should know what workers’ compensation insurance can do for the company and employees! Your business is one hundred percent responsible for providing workers’ compensation benefits, so it’s important to ensure it is quality coverage.

Workers’ Compensation 101

Workers’ compensation protects workers from workplace injuries, repetitive stress injuries, and occupational diseases.

This coverage can help your business pay for:

  • Work-injured employees’ medical and recovery expenses
  • Replacement wages when employees can’t work because of a covered injury or illness
  • Dependent support payments and funeral expenses when fatal occupation injuries occur
  • Liability expenses when your business gets sued over work injuries.

Employees who are injured or disabled on the job receive a fixed monetary reward and, in exchange for the acceptance of this aid, cannot sue the business.

What Your Business Needs to Know

Workers’ compensation covers most injuries that occur on the job, on a no-fault basis. This means that benefits are paid regardless of who is to blame for the accident or injury unless the employee’s conduct violates company policy. In this case, coverage may be excluded.

Coverage can extend to an employee traveling for company-related business, running a work errand, or attending a business social event. With these events included in the insurance, make sure that your business has quality coverage.

At Chambers & Company Insurance Brokers, we provide each business with the workers’ compensation insurance that is suitable to protect your company and employees. Contact us to get started on your free commercial insurance quote today.

Low-Cost Employee Perks That Your Team Will Love!

Low-Cost Employee Benefits

Offering your team these low-cost employee perks can significantly raise office morale.

When you first start your business, employee benefits are probably the last thing on your mind. After all, you have to raise enough money to hire the employee to begin. As you grow your business, you’ll face the dilemma of wanting to attract the best and brightest workers, but you can’t afford the high-dollar salary and brilliant benefits.

The good news is that a lot of employees are looking for more of a balance of salary and perks. In the long run, providing low-cost benefits can help you to attract loyal employees and compete for talent in today’s job market. In addition, your current employees will feel the benefit of a happier workplace!

Unlimited Vacation Time
Letting employees decide how much vacation time that they take may seem like a slippery slope. However, this can encourage them to work harder. With the right policies in place and trustworthy employees, this can be a good pay off for the individual and the company alike.

Work From Home
Give employees the option to work from home one day a week. Employees who telecommute reported improvements in stress levels, morale, and productivity.

Take a Break
Set up a designated quiet room for employees to take 10-minute relaxation breaks. Provide yoga mats for meditation and comfy chairs to relax for a few minutes. Employees will come back to their desk revitalized and ready to dive in.

Free Food Friday
Every 5th Friday (or so), treat your employees to a catered breakfast or lunch. If this isn’t in the budget, stock the fridge and cupboards with healthy and fun snacks to keep them going!

Welcome the Woof
It’s a known fact that pets make us happier! Designate four-legged-friend-friendly days for employees to bring their dogs to work. Dogs in the office reduce stress for their owners, bring happiness to the playing pups, and make work more satisfying for other employees!

One thing that your company shouldn’t have to worry about is reliable coverage. Contact the industry experts located in Camarillo – Chambers & Company Insurance Brokers – for all of your business insurance needs.

How to: File a Commercial Auto Insurance Claim

File a Commercial Auto Insurance Claim

Find out how to file a commercial auto insurance claim!

Whether you own a florist business, cake company, or home delivery service for the elderly, you or your employees may be on the roads every day. No matter how you and your employees use your commercial vehicle or fleet, you could be at risk in the event of accidents.

When an accident happens, knowing how to file a commercial vehicle insurance claim will help you to save money and get your business reimbursed as soon as possible!

When and How to File Commercial Auto Insurance Claims

While getting into an accident in the delivery van isn’t ideal, there are simple steps that you can take to ensure that the claims process goes smoothly. First, always check for injuries and contact the appropriate authorities!

Next, gather the following information to relay to your insurance company:

  • The names of everyone involved in the accident
  • All vehicle license plate numbers and car information
  • The insurance information from all other drivers involved
  • All accident specifics that you can remember

It’s a good idea to record everything that has happened at the scene as well as taking pictures of all vehicles involved. If the accident is minor, evaluate whether it will be worth it to call the insurance company to file claims. You should be aware of the deductible and how your coverage applies to the accident.

Once you have all the information gathered, give your insurer a call to get started!

When accidents happen on the clock, you’ll be glad that you took the time to put the right coverage in place. Filing commercial vehicle insurance claims can be a challenging process, so work with a local agent who will advocate for your needs.

Get started on your tailored policy from the insurance professionals at Chambers & Company Insurance Brokers. We are there to secure the right auto policy and guide you through the claims process.


What a Ticket Does to Your Auto Insurance

Auto Insurance in Camarillo, CATraffic tickets can seriously affect your auto insurance.

When car insurance companies determine your premiums, one of the biggest factors they look at is your history of traffic tickets. Statistically, when you have a driving record that shows moving violations and speeding tickets, your insurance company views you as a risky driver. For this reason, they raise the cost of your auto insurance.

How will a ticket affect my insurance in the short term?
The good news is that if you’re over twenty-five and this is your only ticket on your record (within the last three years), chances are it will make little difference to the rate you pay for auto insurance. However, it will vary from company to company. Most insurance companies don’t look at your driving record every month, but they do when your contract is initially purchased or renewed. If you notice your renewal cost is higher than your usual rate, you can thank your speeding ticket.

The effect of multiple tickets.
While getting a single speeding or traffic ticket may not drastically increase your insurance costs, getting several in a short timeframe can create significant problems and rapidly drain your wallet. Each additional ticket after the initial one will cause a much larger increase in your auto insurance rates.

The severity counts.
While the adjustments to premiums for moving violations vary among insurance companies and the driver’s records, you can expect to see a bigger rate increase for more serious infractions.

For example:

  • Driving with a broken headlight is a low-impact ticket.
  • A citation for speeding 15 miles per hour over the speed limit can have moderate effects on your car insurance rates.
  • A DUI conviction can have severe consequences when it comes to your rates.

Similarly, if you’re ticketed for speeding, your speed matters! Motorists who are driving 15 mph over the speed limit will see tougher fines and a higher auto insurance rate than those who are caught going 5 mph over the limit. Excessive speeding is linked to higher auto accident rates, which makes you a riskier driver to the insurance company. Keep an eye on that speedometer!

Obtaining affordable and reliable auto insurance is imperative to stay safe on the roads! For all of your insurance needs, be sure to contact the professionals at Chambers & Company Insurance Brokers today.