SAVE YOUR BUSINESS MONEY
Regulations Can Save
Your Business Money
R
egulations are everywhere.
Whether it’s OSHA regulations
in seemingly every workplace,
DOT regulations on the roads,
or any of the other government
regulations which affect businesses in a
slew of niche fields, every business has
regulations which must be followed. Often,
to business owners (and employees on
the ground level), these regulations and
precautions can make no sense. They all
exist for a reason, but those reasons are not
always obvious. Thus, many regulations
and regulatory agencies can appear at first
glance to be a burden on the individuals
they are affecting. The truth, however, may
be surprising: regulations can save your
business money and improve efficiency.
The largest source of money that
regulations can save you is, without a
doubt, fines. Not following regulations is
going to open your company up to a slew
of fines from regulatory agencies and, in
all likelihood, also throw the door wide
open to civil or criminal liabilities as well.
Minor violations of OSHA regulations,
for instance, can carry a $7,000 penalty.
Willful violations will see that number
increase tenfold all the way to $70,000.
Those aren’t numbers most business
owners are going to scoff at. And those
numbers aren’t even including potential
lawsuits stemming from neglect of
regulatory rules.
Safety programs stemming from the
guidelines which are set forth in many
regulations can be used as a proactive
measure to keep your equipment and
employees safe. Not only that, but they are
a great way to save money on insurance
premiums and claims. Many insurance
companies will offer discounts or reduced
premiums based on existing safety
programs and past claims. Since many
proactive measures are in place specifically
to reduce claims, this one is a no-brainer.
Ultimately, people ignore regulations in an
effort to cut corners and improve efficiency.
Unfortunately, the result is the opposite.
Either paying fines slow down the growth
of the business or workplace injuries
or incidents throw normal operating
procedures into disarray. Doing things the
right way can be slower and tedious, but as
the old saying goes, slow and steady wins
the race. Do things the right way from the
beginning and it won’t be any challenge at
all to keep them up as the company grows.
It also won’t be a huge headache in the
event an accident or inspection needs to
take place.
Do you know the ins and outs of regulation
in your industry? Does your company have
all its i’s dotted and t’s crossed? Even if
you think you do, it pays to be 100 percent
sure. That’s where professionals come
into play. Contact me at 702-646-2082 or
[email protected] find out more
and to get started on a comprehensive
review of the regulations your company
should be (and needs to be) following. +
MARION ETTINGER,
ACCOUNT EXECUTIVE, COMMERCIAL LINES,
[email protected]
Marion brings over 30 years of experience to Branch Be nefits Consultants with a background
in Property, Casualty & Surety. Her primary role has been the servicing, selling and account
management of Commercial Insurance of all genres, specializing in exceptional service to clients
by delivering creative insurance solutions with thoughtful strategic planning.
Marion has earned both her ARM (Associate in Risk Management) and her RPLU (Registered
Professional Liability Underwriter) designations. She previously taught and tutored Pre-
Licensing P&C Insurance classes. Marion supports Branch Benefits Consultants’ goal of
delivering tailored benefit solutions with valuable professional services, and technology-based
solutions by focusing on building strong partnerships and serving a diverse business community.
Marion is originally from New Jersey, but has called Las Vegas, Nevada her home for the past 30
years. She has two grandchildren and “6” children consisting of one “humanoid” and 5 “furry
ones”. She is passionate about animals and feels that every animal should leave this world
knowing that they were loved. Marion loves NYC and enjoys traveling there at Christmas time.
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