Archives April 2025

Ever feel like you’re juggling chainsaws in your business? Marketing, finance, operations – it’s a high-stakes game. While you’re keeping your eyes on the grand prize, those sneaky hidden risks could be plotting your downfall.

Let’s unveil the “unspoken vulnerabilities” that could be costing you more than you think:

1. Data Security: Think you’re safe behind firewalls? Think again. While you’ve got your defenses up, “85% of data breaches” sneak through due to human errors. And when these breaches hit, it costs small businesses a whopping “$42,000” on average. Don’t be the next victim.

2. Contract Pitfalls: Speed-reading contracts? Stop right there. Hidden traps in the fine print can lock you into a web of unfair obligations. Shockingly, “72% of small businesses” have unwittingly signed away their freedom, facing unforeseen financial and legal nightmares.

3. Intellectual Property Heists: Got a million-dollar idea? So does someone else, and they might snatch it if you’re not careful. A staggering “40% of businesses” fall prey to intellectual property theft, leaving them reeling with losses averaging “$57,000”.

4. Regulatory Red Tape: The maze of regulations is dizzying, but navigating it is non-negotiable. Ignorance is costly; “30% of small businesses” grapple with regulatory fines, setting them back an average of “$8,000”.

5. Cyber Insurance: Your business is digital gold – insure it like one. Without protection, a cyberattack can be the final nail in the coffin. Worryingly, “60% of businesses” hit by cyberattacks never reopen their doors within six months.

Feeling the heat? Don’t worry; I’ve got your back. Here’s your game plan:

1. Ramp up security audits and train your team like their jobs depend on it.
2. Before any signature, get a legal eagle to decode those contracts.
3. Guard your genius – secure your intellectual property.
4. Stay ahead of the regulatory curve; it pays dividends.
5. Cyber insurance isn’t a luxury; it’s a lifeline.

Heed the warning: “A stitch in time saves nine.” By bolstering these under-the-radar areas, you’re crafting a business that’s not just surviving but thriving.

As you tread the complex terrain of insurance planning, allow the Redford Agency to be your steadfast guide. Our cadre of seasoned experts stands ready to be your confidant, crafting bespoke solutions that cater to your distinct requirements. With the Redford Agency as your ally, stride into your financial voyage with assurance, assured that a proficient insurance maestro is charting a path to a fortified and flourishing tomorrow.

Trucking is a way of life. There aren’t many industries that impact an individual like someone who drives a truck across the country. 

When your desk includes a steering wheel, gauges, gas, brake, and gear shifting pedals, a bed sitting behind you and you maneuvering over 80,000 pounds over thousands of miles every day; what industry really compares to this one? It certainly takes its toll on the driver and the business owner. And in a lot of situations, that is the same person!

So what does that all mean? Well, it means that when it comes to this business, there is a lot of risk facing them every day. And there are a lot of people watching them, looking for that potential catch of doing something wrong. Between the Department of Transportation, insurance companies, and the general public, the business owner and driver are being overanalyzed every day. 

So how do you minimize that glare from all these eyes continually staring at you? In simple words, doing those little things. When we discuss risk management practices with any business, we emphasize this continually. So what are the little things?

Regardless of your budget, there are TWO VERY IMPORTANT things that you can do on a regular basis that will influence how you are viewed:

1. Maintain your truck or trucks
2. Manage your drivers

Pretty simple right? When it comes to insurance, these two factors can determine if you stay on the road and how expensive staying on the road can get. In this article, we’re going to focus on the first item:

Maintain Your Truck or Trucks

Taking care of your power units has considerable impact on the way your trucks perform, obviously. And the better your truck performs, the less downtime it has. And less downtime means more income. Consider that the following most likely occur at DOT stops and lead to Out of Service inspections:

• Brakes out of Adjustment or other brake problems
• Tires – tread depth, care, etc
• Load Securement
• Lighting – from brake lights to turn signals
• Leaking oil
• Damaged/obstructed windshield
• No proof of annual inspection

Spending time on preventative maintenance will increase the time that your truck is on the road. Increased time on the road is maximizing revenue for that truck. However, the same is true that when a truck is placed in out of service status, that is decreased revenue for that truck. As expenses continue to fluctuate, being able to keep trucks moving will allow you to maximize profits. 

So what preventative maintenance actions can you take? Do those things that help ensure your truck keeps operating:

1. Daily pre and post trip inspections (we will have another blog on pre and post trip inspections)
   1. Reviewing key areas of the truck that are visible to the driver
   2. Have the driver take note of any issues that are found and have them addressed immediately by onsite or third party mechanics
   3. Pre and Post trip inspections also assures the driver that loose debris is removed, preventing potential windshield claims
2. All minor mechanical issues are addressed at the time of being found
   1. When light being out is keeping you from driving down the road, addressing that issue before the truck even leaves the yard works to your advantage every time
   2. Keeping a record of all maintenance work will help you stay ahead of issues that could plague your truck
   3. Brakes and tires done on a scheduled rotation keeps you out of the DOT black hole as well as improve your reaction times to prevent accidents and claims.

As you do the little things with your truck, the time spent driving on the road will be increased. And the more time that truck is on the road, the greater the revenue expectations of that truck. And more revenue is what the business owner is always looking for.

But while you can maximize revenue, you can also reduce expenses. The DOT puts the average Out Of Service percentage around 20% for trucks and 5% for drivers. If you are doing those little things to keep your truck operating effectively, the better consideration you will receive from insurance companies. Everyone wants better insurance rates. Keeping your Out of Service percentages low puts you in control of getting those better insurance rates. 

Be sure to watch for our next article on the second action you can take to help your business and lower your insurance rates: Manage Your Drivers. 

At The Redford Agency, we work with you to help build your fleet management program. As you take advantage of our years of developed knowledge as risk advisors, you will see savings in your insurance program as well as maximizing your trucking operations. Let us show you how! 801.609.1801 or advisor@agency801.com

In today’s fast-paced business environment, particularly in the manufacturing industry, having the right insurance policy isn’t just about compliance or peace of mind—it’s a cornerstone of business strategy. A well-crafted insurance policy can shield your business from unexpected risks, keep your operations running smoothly, and safeguard your financial future.

Yet, navigating the intricacies of commercial insurance on your own can feel overwhelming. That’s where the expertise of a seasoned insurance agent makes all the difference. They’re not just policy brokers—they’re your trusted advisors, ready to uncover risks, customize solutions, and steer you through the complexities of coverage and claims.

Your Insurance Agent: A Silent Partner in Your Success

Think of an insurance agent as more than a service provider—they’re a critical part of your business team. Here’s why their role is indispensable:

1. Risk Detectives

Every business faces risks, but identifying them requires expertise. Insurance agents delve into your operations, assessing factors like property vulnerabilities, industry-specific hazards, and liability exposures. Their insights ensure you’re not blindsided by unforeseen challenges.

2. Coverage Architects

No two businesses are alike, and neither should their insurance policies be. A skilled agent tailors your coverage to address your unique needs, whether that’s safeguarding equipment, mitigating product liability risks, or ensuring business continuity after a disruption.

3. Claims Champions

When the unexpected happens, navigating the claims process can be daunting. Your insurance agent becomes your advocate, helping you compile documentation, negotiate with adjusters, and secure timely, fair settlements.

4. Cost Savers and Strategists

Agents are experts in balancing coverage with cost. They identify gaps in your policies, uncover potential savings, and craft a risk management plan that aligns with your business goals and budget.

How to Choose the Right Insurance Agent for Your Business

Not all insurance agents are created equal. To find the right partner, ask these key questions:

• Industry Experience: Do you have experience working with manufacturing businesses or other companies in my sector?
• Knowledge of Risks: Can you identify and address the unique challenges my business faces?
• Policy Customization: How will you ensure my coverage fits my specific needs and budget?
• Claims Support: How do you assist with claims, and can you provide examples of successful outcomes?
• Ongoing Communication: Will you provide regular updates and proactive advice during the policy term?

Why Manufacturing Businesses Trust The Redford Agency

At The Redford Agency, we specialize in crafting insurance solutions tailored to the unique demands of manufacturing and other industries. With nearly two decades of experience, we’ve honed our approach to identifying risks, designing bespoke coverage options, and supporting our clients through every step of their insurance journey.

When you partner with us, you gain more than an insurance policy—you gain a strategic ally committed to protecting your business and empowering its growth. From property and liability coverage to business interruption insurance, our team ensures you’re covered for every scenario, so you can focus on running your business with confidence.

Let’s Build a Safer Future for Your Business

Don’t leave your business exposed to unnecessary risks. Contact The Redford Agency today to learn how we can create a customized insurance solution that shields your business and supports your long-term success.

Secure your future—start with smarter coverage today.

Workers’ compensation (work comp) claims are an inevitable part of running a business, but did you know that many claims can be prevented through proactive safety measures? Businesses can help lower insurance costs and foster a safer work environment by understanding the most common claims and taking steps to address risks before they result in injuries. 

Let’s dive into the top 10 work comp claims, backed by statistics and examples, and explore ways to reduce your exposure to costly incidents.

1. Strains and Sprains (40% of All Claims)

Strains and sprains are the leading cause of workers’ comp claims, often resulting from repetitive motions, heavy lifting, or sudden movements. According to the National Safety Council (NSC), overexertion injuries like strains and sprains cost U.S. businesses $13 billion annually in direct costs. 

Prevention Tip: Train employees on proper lifting techniques, ergonomic workstations, and regular breaks to avoid repetitive stress injuries. Regular assessments of workplace conditions can significantly reduce these claims.

2. Slip and Fall Injuries

Slips, trips, and falls can result in fractures, head injuries, or spinal cord damage. The Bureau of Labor Statistics (BLS) reports that these incidents lead to approximately 244,000 cases of injury each year. For a construction company, a single fall can cost an average of $50,000.

Prevention Tip: Ensure floors are kept clean and dry, repair uneven surfaces, and provide employees with non-slip footwear in slippery areas. Installing proper signage and lighting can also reduce the chance of accidents.

3. Back Injuries

Back injuries are common in jobs that require heavy lifting or poor posture during repetitive tasks. They can result in long-term disability, with the average workers’ comp claim for a back injury costing $40,000.

Prevention Tip: Implement lifting assistance tools, such as forklifts or back braces, and regularly educate employees on proper posture and lifting techniques.

4. Car Accidents

Employees who drive as part of their job are at risk of car accidents, which can lead to severe injuries like broken bones, head trauma, and spinal cord injuries. In fact, work-related car accidents account for 40% of all work-related deaths annually, according to OSHA.

Prevention Tip: Enforce strict driving policies, including the use of seat belts and adherence to speed limits, and offer defensive driving training for employees who drive frequently.

5. Repetitive Motion Injuries

From office workers typing on a computer to assembly line workers performing the same tasks repeatedly, repetitive motion injuries (RMIs) can take a serious toll. Carpal tunnel syndrome, for example, costs employers $7,000 per employee in direct and indirect costs.

Prevention Tip: Offer ergonomic workspaces and encourage frequent breaks to reduce strain on muscles and joints. Using ergonomic tools, such as keyboards and chairs, can also help.

6. Electrocution

Electrocution claims are serious and often fatal. The U.S. Occupational Safety and Health Administration (OSHA) reports that electrocution is one of the “Fatal Four” causes of death in the construction industry, accounting for 8.5% of all fatalities.

Prevention Tip: Regularly inspect electrical systems, train employees in electrical safety, and ensure they wear protective equipment when working with live wires or power sources.

7. Machinery Accidents

Machinery-related injuries can be catastrophic, leading to amputations, death, or severe injuries. Machinery accidents account for about 700 deaths annually and cause thousands of non-fatal injuries.

Prevention Tip: Proper training on equipment use, routine maintenance, and ensuring machine guards are in place can reduce the risk of accidents.

8. Chemical Burns

Chemical burns can occur in laboratories, manufacturing plants, or other workplaces handling hazardous materials. The U.S. Department of Labor estimates that 1,500 workers are hospitalized each year due to chemical burns.

Prevention Tip: Ensure employees use personal protective equipment (PPE), such as gloves and eye protection, and provide thorough training on chemical handling procedures.

9. Hearing Loss

Hearing loss due to prolonged exposure to loud noise is often overlooked, yet it’s a significant issue in industries like manufacturing and construction. OSHA reports that 22 million workers are exposed to hazardous noise levels annually.

Prevention Tip: Provide ear protection and ensure noise levels are regularly monitored to stay within safe limits.

10. Eye Injuries

Eye injuries can result from flying debris, chemicals, or exposure to bright lights in industries like construction or manufacturing. Each day, more than 2,000 U.S. workers sustain job-related eye injuries that require medical treatment, according to the CDC.

Prevention Tip: Use safety glasses and face shields, and educate workers about potential hazards to their eyes.

How Being Proactive Helps Lower Work Comp Costs

Taking proactive steps to prevent workplace injuries doesn’t just protect your employees—it also lowers your work comp insurance premiums. By reducing the frequency and severity of claims, businesses become less risky in the eyes of insurers, which can translate to significant cost savings.

For example, companies that implement safety training programs have been shown to reduce injury rates by up to 30%. Additionally, some insurers offer premium discounts to businesses that go above and beyond in their safety efforts.

At The Redford Agency, we help businesses of all sizes manage their workers’ compensation claims and develop proactive strategies to keep their premiums low. From risk assessments to safety training programs, we’re here to ensure your employees stay safe and your business thrives. 

Contact us today to learn how we can help you reduce claims, lower your insurance costs, and build a safer workplace for everyone.

Being proactive about safety is not only an investment in your employees’ well-being but also a smart business decision that can protect your bottom line. Let’s make workplace safety a priority—starting today.