WELCOME FRIENDS AND VALUED CLIENTS OF JGS INSURANCE , A BALDWIN RISK PARTNER
Welcome to the summer issue of JGS Risk & Business Magazine , where we explore topics that are critical for business owners and professionals alike . We hope you find the articles insightful and informative .
With the rise in healthcare costs , employers are seeking alternative ways to create health plans for their employees . The latest approach , Contribution Modeling , is when employers choose a health plan for their employees and determine the dollar amount they ’ ll cover . This method also calculates the premium amount for which employees will be responsible . Barry Fields , Partner , discusses this in “ Minimize Cost , Maximize Talent Retention .”
It ’ s common for condo owners to mistakenly believe that their association provides adequate coverage for all incidents in a shared area of the property . This would include places such as lobbies , stairwells , pools , clubhouses , and outdoor spaces . However , if damages occur from an incident that exceeds the limits of the association ’ s Master Policy , property residents may be assessed the uninsured portion of the loss . How do you avoid a situation like this ? Debbie Torres and David Velasco discuss important add-ons to consider in “ Maximizing Your Condo Insurance .”
ChatGPT is the latest and hottest technology in the marketplace , and many businesses are using this powerful AI technology to assist with administrative and communications tasks . The program offers conversational texts and human-like responses . It ’ s easy to access , but it ’ s also easy to be misled into thinking that the system performs without any hitches . In the months following its release , people worldwide began to see its limitations and key problems . Gwen Luu , Partner , discusses some issues with this technology you should consider before deciding if this is right for you in her piece , “ Managing Risk and Limitations for Chatbot ChatGPT .”
Though an integral part of business management , personnel training can be challenging to organize , especially those that take place in person . Many businesses are turning to Learning Management Systems ( LMS ) or computer-based training software as an alternative method . It has proven to be an incredibly effective way to improve employee engagement , retention , and increase employee skill levels . Eric
Wokas , Senior Risk Engineer , talks about this issue in his piece , “ Everywhere , Everything , All the Time .”
Most businesses carry General Liability insurance to provide coverage for a broad range of claims related to bodily injury , property damage , and advertising injury . But what if you ’ re a business that offers services and / or consultations ? In that case , consider adding Professional Liability insurance because it covers issues such as causing financial loss to a client , failure to perform a service as promised , and errors or omissions in the service or product sold by the business . Nick D ’ Onfrio , Associate Advisor , talks about why you need this type of coverage in his piece , “ Protect Your Business and Reputation : Why Professional Liability Insurance Is a Must-Have in Today ’ s World .”
We hope the information provided in this summer edition of JGS Risk & Business Magazine has offered helpful advice and information . +
VINNIE HAGER , MANAGING PARTNER JGS INSURANCE , A BALDWIN RISK PARTNER JGSINSURANCE . COM
3