From the monthly archives:

January 2010

How Twitter Can Affect a Business Interruption Settlement

by John January 29, 2010
Twitter

In this digital age, information is abundant and immediate. The best sources for information are no longer newspapers, magazines, or specialty publications. Consumers go online to the “comments” section of an online newspaper, blogs related to an industry, or customer review websites. For example, when my family plans a vacation, we regularly visit Trip Advisor [...]

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Tales of Intrigue and Deceit

by John January 27, 2010
Thumbnail image for Tales of Intrigue and Deceit

Join me when I appear as a guest on the radio talk show, Work Does Matter with host Denise Rubin.  The topic is, “Why Should I Care if Someone’s Ripping Off the Boss?”   Because I’m a Certified Fraud Examiner, I’ll be the expert discussing fraud in the work place, which happens WAY more than [...]

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Why Take Time to Adjust Values at Risk?

by John January 25, 2010

I hear it all the time: we were busy.  We were in a period of growth!  How could we stop our work in the middle of this booming period to evaluate our business income values at risk?  Besides, we don’t really want to talk to the insurance broker again–they’re always trying to upsell us, right? [...]

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Rethink Your Values at Risk to Save Money

by John January 22, 2010

If your business carries business interruption insurance, you’re responsible for determining and reporting your values at risk to your insurance company.  Many businesses come up with this number one time in order to place business interruption coverage, and then don’t think about their values at risk number again–sometimes for years. Businesses that carry business interruption [...]

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How to Avoid Giving to a Fraudulent Charity

by John January 19, 2010
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It makes me proud to be an American when I see the generosity of my friends and neighbors, who like millions of other Americans have stepped up their charitable giving in an effort to ease the pain of the victims of the devastating earthquake in Haiti. Like many others, I want to ensure that the [...]

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Does Asset Depreciation Continue During a Business Interruption?

by John January 18, 2010

The answer to that question is, “it depends.” There are a couple of things to consider. First, was the asset physically destroyed in the event or not? If the asset was destroyed, then depreciation usually discontinues under the theory that an asset that no longer exists can’t depreciate. The assumption is that the insured party [...]

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The Insurance Company’s Accountant is Not Your Advocate

by John January 13, 2010

After your business suffers a loss, you’ll meet the insurance adjuster and his accountant.  During this first meeting, or soon after, here’s what you’re likely to be told: The adjuster and accountant will work together to ensure that you’re paid what you’re owed. The accountant is not an insurance company employee, but an independent CPA [...]

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How to Deter the “Medicare” Scam

by John January 11, 2010

Once again, the issue of fraud is making a big splash on major news networks. No one is exempt from fraud and quite often, government contractor cases are huge. But just because your business is not at risk for a multi-million dollar theft, that doesn’t mean that you should be any less vigilant about fraud. [...]

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Can You Be Too Optimistic?

by John January 7, 2010
The glass of water is half full.

It’s my nature to be optimistic. For better or for worse, my glass is usually half full. I’m usually the person on an even keel, making others around me laugh and “lighten up.”  However, I’ve found that there are times when being overly optimistic can be downright perilous…particularly if you’re the risk manager or owner [...]

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Pay Attention to Franklin if You Want to Keep Your Benjamins

by John January 4, 2010
Hutson Resource Group, Forensic Accountants

I will admit that I don’t know as much as I should about American history. To be honest, I just didn’t pay attention to history lessons while I was in school. Now that I’m a little older (ahem!), I do find it to be more interesting. Last winter, I watched with fascination the HBO mini-series [...]

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