Employee Wellness Plan: Americans Living, Working Longer

Employee Wellness Plan Americans Living, Working LongerEmployee Wellness Plan: Americans Living, Working Longer

Americans are working longer and living longer than ever before. According to Newsmax, last year 18.5 percent of Americans 65 and older were still punching time clocks.

Some simply like their jobs. Others are concerned with finances and the cost of retirement. According to the Employee Benefit Research Institute, 13% of workers who delayed retirement in 2011 did so because of inadequate finances, they are unable to afford to retire, or making up for losses in the stock market.

But longer hours can also take a toll on health. And although many Americans are working and living longer, they aren’t necessarily healthier. In fact, studies have shown that Americans are actually less healthy than the previous generation.

One study in Medical News Today reported that the 78 million baby boomers who were born between 1946 and 1964 were less healthy than most of their parents. The newest generation to hit retirement age is found to have more elevated levels of certain chronic conditions than the previous generation, including higher rates of obesity, cholesterol, diabetes and hypertension.

As we work longer but struggle with chronic health problems, it could escalate health costs and lower the quality of life for older Americans. One option to counter that movement is promoting wellness in the workplace to develop healthy habits that can improve health and longevity. Employee benefits and wellness plans can help employees live happier, healthier lives. They can reduce health care costs, live a higher quality of life and preserve their health.

At Sinclair Risk & Financial Management, we offer a wide rand of Employee Benefits, including Group Benefits, Retirement Planning and Employee Wellness Plans. We’ve developed a comprehensive branded risk management platform that integrates approaches to property and casualty and employee benefits. We’ll help you strike the right balance in offering employees a benefit plan that is attractive, offers more choices, customization and flexibility with the organization. Contact us today for more information. (877) 602-2305

Connecticut Restaurant Insurance: A Restaurant’s Biggest Risk

Connecticut Restaurant Insurance A Restaurant's Biggest RiskConnecticut Restaurant Insurance A Restaurant’s Biggest Risk

Throughout Connecticut there is an abundance of eateries, taverns, bars, pubs, diners & restaurants, but for the majority of these Connecticut restaurants they don’t understand their biggest risks. But what risks do Connecticut restaurants face when they operate to the public?

In general, Connecticut Restaurants face unique exposures. Whether your restaurant has a Michelin star or a four-star review, understanding these exposures can be key to prevent losses.

First, you must evaluate your current risk. Every restaurant experiences different risks. One great example of this is a restaurant that may also operate as a brewery. One of the best ways to evaluate your risks is through your local Connecticut insurance agent. At Sinclair Risk & Financial Management, our expertise in the hotel, restaurant and hospitality industry can help you uncover your risks.

In general, here are some risks that your restaurant may face: Does your restaurant make deliveries? Do employees use their own vehicles? Do you provide valet service? Understanding your risks could help your operation prosper.

Although same-level falls rank second among the top 10 causes of serious workplace injuries, it’s not your biggest risk.

One of the biggest risks are your patrons. Operating a Connecticut bar or restaurant can experience issues with customers. One of the most common E&O claims for restaurants, taverns or bars involve assault and battery. It is critical that your Connecticut restaurant insurance policy covers all possible scenarios and protect your customers, employees and establishment.

Most of all, never assume you have adequate insurance coverage. Most General liability policies cannot cover all exposures your restaurant may face. If not properly addressed, your restaurant could be facing significant liability.

Sinclair Risk & Financial Management has innovative insurance and risk management solutions for food and beverage manufacturers, processors, packers, and distributors, in addition to restaurants. For more information about out Connecticut restaurant insurance programs, please contact us at (877) 602-2305

Connecticut Workers Compensation: Fighting Prescription Abuse

Connecticut Workers Compensation Fighting Prescription AbuseConnecticut Workers Compensation: Fighting Prescription Abuse

Even with today’s decreased payrolls and difficulties in the job market, businesses still spend a lot of money on Workers Compensation. And a growing contributor to unnecessary healthcare and workers comp costs is the increasingly widespread abuse of prescription painkillers.

The abuse of painkillers is an escalating problem. First, there are immediate health concerns. Prescription overdoses killed nearly 15,000 people in the U.S. in 2010, more than three times the amount killed by overdoses in 1999. And nearly half a million emergency department visits in 2009 were due to people misusing or abusing prescription painkillers.

In terms of insurance claims and costs, prescription drugs have a larger influence as time goes on. In the first year or two of a claim, prescriptions represents only 2-3 percent of all workers’ comp costs. For claims stretching out six to eight years, prescription drugs represent 15-20 percent of all costs.

Backed by a U.S. campaign to slow abuse of prescription painkillers, drugmakers are creating new forms of medicines that don’t lead to misuse and new products that treat dependency. If all goes well it could change the face of the $9.4 billion dollar market.

The new prescription painkillers aim to decrease the risk of dependence and addiction. One blocks opiate receptors in the nervous system, potentially lessening addict dependence. Another created an experimental medicine designed to enter the brain slowly, reducing the euphoria that can lead to addiction. Other drug companies are creating crush-resistant versions that make them less valuable to non-prescription users.

Talk to Sinclair Risk & Financial Management about your Workers Compensation needs and we’ll navigate you through the steps to control costs and get the right insurance product for your business. Contact us today. (877) 602-2305

High-End Home Insurance: Re-examine Your Coverage After Moving

High-End Home Insurance Re-examine Your Coverage After MovingHigh-End Home Insurance: Re-examine Your Coverage After Moving

Moving homes is an exciting and also highly stressful time. It requires a lot of work, planning and organization. Not to mention years and months of planning and preparation. As you upgrade to your new, beautiful home, make sure you take the time to have it fully assessed to get the best insurance protection possible.

High-end homes require highly specialized insurance not available in the usual standard policy. Sprawling penthouses, estates, ranches, coastal retreats all require high-end insurance to protect its valuable assets. Here are few other policies to keep in mind when moving into your new high-end abode.

Fine art insurance. Over the years, you may have amassed a beautiful collection of art that now graces your home. While your homeowners insurance may include a limited amount of coverage for fine art, it most likely will not be enough in the event your collection is damaged or stolen. A fine arts floater is a crucial aspect of an over high end home insurance program. It is also an aspect that can be easily overlooked.

Wine collection insurance. The same principles of insuring fine art apply to a high end wine collection. There are a number of mishaps that can occur, including losses due to a mechanical breakdown of heating, cooling or humidity control equipment or fire, theft flood and breakage.

Jewelry insurance. Jewelry is another overlooked item that is often inadequately insured in high end homes. What began as a few heirloom pieces has slowly increased in value over the years to be a beautiful, sentimental and substantial collection.

Fine art, jewelry and wine collections also must be periodically assessed to insure they are sufficiently insured to cover their current value. Insuring your gold jewelry for example, on a price assess 10 years ago, wouldn’t cover replacement costs in the market today.

Sinclair Risk & Financial Management offers selected programs designed exclusively for our affluent clientele and their high value homes. These homeowners programs provide higher limits and broader coverage than standard policies and are designed for houses worth millions that often include expensive furnishings and cutting edge technology and equipment. Contact us today for more information. (877) 602-2305

Private Client Services: Steinway to be sold to Private Company

Private Client Services Steinway to be sold to Private Company for $438 millionPrivate Client Services: Steinway to be sold to Private Company

According to Reuters, private equity firm Kohlberg & Co. is acquiring 160 year old piano and musical instrument maker Steinway Musical Instruments Inc. for approximately $438 million. Steinway has evolved to become an American icon synonymous with handmade grand pianos. The company previously declined to sell itself six months earlier.

Steinways are one of the most iconic piano makers. And as a result they don’t come cheap. An average Steinway can cost anywhere between $40,000 to $100,000 for a full-size concert piano. Even buying a used one can be difficult. For an investment piece such as a Steinway, you want to be sure you are getting a quality instrument. Experts recommend that any interested buyers should have the piano inspected by a technician. A technician inspection can cast anywhere from $75 to $150 for a consultation, but its money well-spent to ensure you are getting a good return on your investment.

What you invest in to furnish your home can also have significant insurance needs. Oftentimes, your jewelry, fine art, exotic car, wine collection or custom Steinway piano won’t be covered by standard home insurance policies in the event of a disaster or damage. If you have a high value home, you want to make sure you are protected inside and out against any exposures and liabilities.

At Sinclair Risk & Financial Management, our Connecticut Private Client Group Insurance is tailored for the specific needs of our highly valued clients. We have access to particular markets that enable us to craft custom Wallingford homeowners insurance and Wallingford auto insurance programs that reflect the true value of your property, your risk profile and your personal circumstances throughout the world. Contact us today for more information about our private client services.