Michigan CO-OP Awarded $72 Million to Provide Health Insurance Options in 2014

LANSING, Mich., May 18, 2012 /PRNewswire via COMTEX/ –
The Centers for Medicare and Medicaid Services (CMS) today announced its award of $72 million in financing for the new Michigan Consumers Healthcare CO-OP (MCHCO), a member-governed nonprofit health insurance company that will help to control costs while providing accessible healthcare for all residents.

“We’ve been given the opportunity to be pioneers in a new business,” said Bruce Miller, president of the MCHCO Board. “It is an opportunity and an obligation we take very seriously. All of us who have worked to bring a Consumer Oriented and Operated Plan to Michigan will do our very best to make the insurance plan work to the benefit of Michigan residents.”

The goal of health insurance cooperatives such as MCHCO is to make sure consumers have affordable choices when Michigan residents start shopping for government-subsidized health insurance from state insurance exchanges that are set to begin operating in 2014.

The development of MCHCO is part of the federal Affordable Care Act (ACA), which creates a new type of nonprofit health insurer, called a Consumer Operated and Oriented Plan (CO-OP). CO-OPs have member-based boards and are meant to offer member-friendly, affordable health insurance options to individuals and small businesses. Using low-interest and no-interest loans from the U.S. Department of Health and Human Services (HHS), the plan is to ensure that every state will have at least one healthcare CO-OP chartered specifically to make sure insurance is affordable for everyone:

CO-OPs will be open to all comers, including independent workers typically shut out of the traditional healthcare market.

Americans making less than 400 percent of the Federal Poverty Level (FPL) will be eligible to receive financial support from the government to pay for their CO-OP health plan.

The CO-OP will enter the market and compete with private insurers and offer insurance through a state-level marketplace called the Exchange. The state Exchange will be designed to make it easier for consumers to shop for and understand insurance plans.

By Jan. 1, 2014, Michigan residents will have the opportunity to buy health insurance coverage as individuals or families from the Michigan Consumer Healthcare CO-OP. The MCHCO will differ from other insurance companies because it will be governed by its members – the individuals and businesses that purchase the coverage.

“MCHCO will level the playing field for individuals and groups that are often not well served in the current health insurance market,” said Miller, who currently serves as executive director of the nonprofit Northern Health Plan and TENCON Health Plan, which provide basic medically necessary services at little or no cost to more than 10,000 low-income residents in 18 Michigan counties who have no other access to healthcare coverage.

MCHCO was organized by a coalition of 15 Michigan nonprofit corporations that are known as County Health Plans (CHPs). CHPs currently operate in 74 of Michigan’s 83 counties and provide noninsurance coverage to 150,000 Michigan residents. MCHCO hopes to use the existing delivery system to develop a statewide network including the nine counties that are not currently served by a CHP.

The insurance offered by MCHCO will be targeted to people with incomes between about 139 percent and 250 percent of the Federal Poverty Level (roughly $26,000 to $40,000 annual household income depending on family size) – but anyone can buy insurance from MCHCO.

Based on actuarial analysis of the market, MCHCO projects an initial enrollment of about 37,000 members.

“The Consumer Oriented and Operated Plan will use any profits to increase benefits and reduce the price of insurance,” Miller said.

The $72 million CMS loan will be used to develop the subscriber-run plan and support the plan’s reserve requirements. “The entire loan amount must be repaid to the federal government no later than 2033,” Miller said. “Our plan is to repay the loan sooner.”

MCHCO is preparing to apply for a health insurance license from the Michigan Office of Financial and Insurance Regulation (OFIR) in order to begin enrolling customers in October 2013 for insurance scheduled to take effect Jan. 1, 2014.

To date, 11 other organizations have received loans through the CO-OP program. Those organizations are in Iowa, Montana, Nebraska, Nevada, New Jersey, New Mexico, Oregon (two), New York, South Carolina and Wisconsin.

For more information about the Michigan Consumers Healthcare CO-OP, visit
www.mchco.org .

SOURCE Michigan Consumers Healthcare CO-OP

Article source: http://www.marketwatch.com/story/michigan-co-op-awarded-72-million-to-provide-health-insurance-options-in-2014-2012-05-18

Foreign travel expenses shoot up 20% on falling rupee

NEW DELHI: The depreciating value of the rupee has made outbound travel for Indians at least 15-20% more expensive. In India, domestic travel too is suffering because of an increase in airfares as Kingfisher and Air India reduce their inventory.

The summer break in India sees a huge number of Indians travelling internationally for an average of 12-13 days to long haul destinations in Europe and Americas. This summer, though, might be different. Many travellers, especially from the middle class, are shifting towards shorter breaks of an average 8-9 days and to shorthaul destinations in the Far East, which are comparatively less impacted by currency movements.

“Outbound travel is having a severe impact as it has become more expensive for people to travel abroad,” says Dhruv Shringi, CEO, Yatra.com. Short to medium haul destinations like Mauritius, Malaysia, Thailand, Macau and others are doing well this season.

“Longhaul is getting converted into shorthaul, which is benefiting destinations like ours,” says Manoharan Periasamy, director for India at Malaysia Tourism Promotion Board. He is expecting incremental business for his destination from India. Rajeev Nangia, associate director of operators at Trac, which represents Mauritius, too has seen an increase in enquiries for the destination. “We expect a better turnaround for the destination this year,” he says.

Rajji Rai, special advisor to the Travel Agents Association of India , says business is down this summer season and the ratio of longhaul to shorthaul travel has changed from 50:50 earlier to 40:60 now. “People do not want to venture towards Europe and the US because of high cost,” he says.

For domestic travellers, the last few months have seen a dramatic increase in airfares as Kingfisher Airlines and Air India reduced their inventory. “Other airlines have increased prices which is hurting domestic travellers this summer. Hotels too are experiencing lower levels of business,” says Arjun Sharma, managing director at Le Passage to India Tours Travels.

The price of a return ticket between Delhi and Goa has jumped by 25-30% in the last one month and such increases have prompted many travellers to curtail or postpone their travel plans. Many last minute travellers have changed their plans, says Rai.

The devaluation of the rupee has shaved off a neat 15% of profits for travel agents and tour operators, who had contracted rates with their vendors in international destinations almost a year ago. Rates were fixed at Rs 45-47 a dollar.

Article source: http://economictimes.indiatimes.com/news/news-by-industry/services/travel/foreign-travel-expenses-shoot-up-20-on-falling-rupee/articleshow/13285272.cms

Bank of America Small Business Owner Report Finds Miami Small Business Owners Expect Revenue and Job Growth in the …

MIAMI–(BUSINESS WIRE)–

Bank of America today released its inaugural Small
Business Owner Report¹, a semi-annual study exploring the
key issues and concerns of small business owners across the country. The
survey, which includes an oversampling of small business owners across
the Miami market, found that many small business owners in Miami are
optimistic about the future of their business. When asked how to
describe their staffing projections over the upcoming 12 months, one in
four (25 percent) Miami small business owners said they plan to hire
more employees, with 45 percent indicating they plan to keep their
staffing projections consistent. Additionally, half (50 percent) of
Miami small business owners believe their revenue will increase in the
next year and two-fifths (40 percent) of respondents believe that
marketing is the most important action that they can take in order to
achieve this revenue growth.

Despite their optimistic view, Miami respondents have a number of
specific concerns about the economy’s impact on the success of their
business, the greatest being the effectiveness of U.S. government
leaders (69 percent), followed by the recovery of consumer spending (67
percent) and health care costs (67 percent). Interestingly, the
availability of credit was lower on the list of concerns (55 percent)
compared to other issues that impact their business.

“The success of Miami’s local small business economy is fueled not only
by its diverse fabric, but also by the ongoing sacrifices that our local
small business owners make on a daily basis,” said Gene Schaefer, Miami
market president at Bank of America. “That’s why it’s so critical that
we continue to find ways to partner with local government organizations,
nonprofits and other corporations to ensure Miami small businesses
continue down a path of prosperity.”

The survey found that more than one-third (35 percent) of Miami small
business owners are confident that their local economy will improve over
the next 12 months, on par with their opinions about the national
economy during the same time period (37 percent). Six in 10 (59 percent)
Miami small business owners believe their local economy is important to
the success of their business.

Miami small business owners make personal sacrifices to achieve
success

The survey found that managing the ongoing success of their small
business is the most stressful aspect of a Miami small business owner’s
life (40 percent), more than three times as stressful as raising
children (13 percent) and almost four times as stressful as maintaining
a healthy relationship with a spouse or partner (11 percent). The
sacrifices that Miami small business owners make for the sake of their
small business, such as time for themselves (an overwhelming 46
percent), keeping physically fit (33 percent) and managing personal
finances (16 percent) may contribute to this stress.

Miami small business owners’ concerns related to finding and
retaining talent

Compared to the national average of 18 percent, Miami small business
owners have seen less employee turnover during the past year (14
percent), with more than two-thirds (69 percent) of Miami small business
owners reporting that employee turnover has remained the same. When
asked about the number one challenge they face as they look to retain
top talent, Miami small business owners cite finding employees with the
skills required for their businesses (25 percent), closely followed by
offering competitive salaries (24 percent) and finding employees with a
good work ethic (16 percent). Despite acknowledging the importance of
attracting and retaining top candidates, almost half (49 percent) of
Miami small business owners admit to not offering any type of financial
benefits package to their employees, and only 21 percent said that they
offer their employees a 401(k) plan.

Miami small business owners need more financial expertise

Fewer than three in 10 (27 percent) Miami small business owners claim to
be very financially savvy when it comes to running their business. The
remaining respondents admit to needing occasional or ongoing expert
help. Miami small business owners rely on a wide range of resources for
financial guidance, as shown in the graph below.

When asked if they could change one aspect of what their bank provides
their business, Miami small business owners most frequently cited an
enhanced level of expertise and more customized services, while lowering
costs associated with the financial services they receive (4 percent)
and lower interest rates (1 percent) ranked extremely low on their
priority list.

“At Bank of America, it’s never been more important for us to have a
holistic understanding of all of our small business clients’ needs,
concerns and ambitions,” said Steve Turner, Southeast region sales
executive for Bank of America. “It’s only through this deep
understanding that we’re able to provide the level of personal expertise
our clients want from us. That’s why Bank of America is in the process
of hiring 1,000 small business bankers across the country, with hiring
well underway across Miami and the state of Florida. Through these small
business bankers we can provide clients with greater access to the
advice they need so they can more effectively run their business.”

Bank of America has continued to actively lend to small businesses
across the U.S. and Florida. In the first quarter of 2012, Bank of
America extended $291.5 million in credit across Florida to businesses
with less than $20 million in revenue. This number includes $155.3
million in new originations, which has helped enable Bank of America to
exceed its national small business lending pledge to the White House and
the SBA.

According to the Bank of America Small Business Owner Report, more than
half (59 percent) of Miami small business owners believe they currently
have enough capital to effectively run their business. In fact, of the
300 Miami small business respondents, 35 percent have applied for a loan
within the past two years, and of those 67 percent were approved. When
asked what their biggest challenge is with managing cash flow,
respondents reported not getting paid on time (40 percent), followed by
low profits/lack of business (27 percent) and not getting invoices out
in a timely fashion (9 percent).

¹ See “About the Bank of America Small Business Owner Report”
section for information about survey methodology.

About the Bank of America Small Business Owner Report

Braun Research conducted the Bank of America Small Business Owner Report
survey by phone between March 17 and April 9, 2012 on behalf of Bank of
America. Braun contacted a nationally representative sample of 1,000
small business owners in the United States with annual revenue between
$100,000 and $4,999,999 and employing between 2 and 99 employees. In
addition, 300 small business owners were also surveyed in nine target
markets including Los Angeles, Dallas, Washington, D.C., Metro New York,
Boston, Chicago, San Francisco, Atlanta and Miami. The margin of error
for the national sample is +/- 3.1 percent, and +/- 5.7 percent for the
oversampled markets, with both reported at a 95 percent confidence level.

Bank of America

Bank of America is one of the world’s largest financial institutions,
serving individual consumers, small- and middle-market businesses and
large corporations with a full range of banking, investing, asset
management and other financial and risk management products and
services. The company provides unmatched convenience in the United
States, serving approximately 57 million consumer and small business
relationships with approximately 5,700 retail banking offices and
approximately 17,250 ATMs and award-winning online banking with 30
million active users. Bank of America is among the world’s leading
wealth management companies and is a global leader in corporate and
investment banking and trading across a broad range of asset classes,
serving corporations, governments, institutions and individuals around
the world. Bank of America offers industry-leading support to
approximately 4 million small business owners through a suite of
innovative, easy-to-use online products and services. The company serves
clients through operations in more than 40 countries. Bank of America
Corporation stock (NYSE:BAC – News) is a component of the Dow Jones Industrial
Average and is listed on the New York Stock Exchange.

For more Bank of America news, visit the Bank
of America newsroom.

www.bankofamerica.com

The Braun Research survey results conducted on behalf of Bank of America
and interpretations in this release are not intended, nor implied, to be
a substitute for the professional advice received from a qualified
accountant, attorney or financial advisor. Always seek the advice of an
accountant, attorney or financial advisor with any questions you may
have regarding the decisions you undertake as a result of reviewing the
information contained herein. Nothing in this report should be construed
as either advice or legal opinion.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50280968lang=en

MULTIMEDIA AVAILABLE:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50280968lang=en

Reporters May Contact:
Christina Beyer Toth, Bank of America, 813.225.7527
christina.beyer@bankofamerica.com

Article source: http://finance.yahoo.com/news/bank-america-small-business-owner-133000240.html

Obama: Broken promises on taxes and health care?

“If you are a family making less than $250,000 a year, your taxes will not go up.” (quote from President Obama, 2008)

“Promise broken: Obamacare raises 18 different taxes.”

“If you like your health care plan, you can keep your health care plan.” (quote from Obama, 2009)

“Promise broken: Millions could lose their health care coverage and be forced into a government pool”

–Assertions in a new Crossroads GPS ad, released Wednesday

The Republican-aligned Crossroads GPS has scheduled a massive $25 million ad buy, starting with this hard-hitting ad that purports to list a bunch of “broken promises” by President Obama.

We are not going to quibble with some of these claims. The president, for instance, certainly has not met his pledge to cut the budget deficit in half. But we were interested in exploring more craefully the two health care-related items listed above.

The Facts

Obama’s promise not to raise taxes on families making less than $250,000 was one of his signature pledges of the 2008 campaign. It would exempt about 98 percent of Americans.

When the Crossroads GPS ad mentions the 18 taxes, it flashes the words “$503B between 2010 and 2019,” citing a Jan. 20, 2011, report by the Heritage Foundation. The clear implication is that all of these taxes hit Americans making less than $250,000.

But if you look at Heritage’s chart, it’s clear that many of these taxes actually are aimed at the wealthy. And some of the other taxes are imposed on insurance companies and the like, which of course may pass on the cost of the taxes, but it is not a direct tax on a person.

The health-care law includes a mandate that would force people without insurance to buy it, which Heritage labels as a $65 billion tax. (Confusingly, Obama claims the mandate is not a tax, even though the government argued it was a tax before the Supreme Court during arguments on whether the law is constitutional.) Much of this, however, would not fall on individuals, our colleagues at FactCheck.org noted. There is also a tax on tanning salons, which certainly could affect people of all income levels, as well as a cutback in flexible spending accounts and other items.

We will leave it to readers to decide how much of these are tax increases in the conventional sense (ie, hikes in income or payroll taxes). But it certainly does not add up to 18 taxes, worth $503 billion, on families making less than $250,000 a year. At least $210 billion of tax increases is aimed directly at the wealthy, by Heritage’s count.

Moreover, as we have noted before, Obama has cut taxes in the first term, including payroll taxes, so most Americans so far have seen a tax decrease under Obama, not a tax increase.

In fairness, we should note, however, that because of the tanning salon tax and the health-care mandate, our colleagues at PolitiFact — who have assidiously tracked Obama’s promises — have labeled Obama’s pledge as a “promise broken.” They found a rather all-encompassing quote from Obama in which he said, as a “firm pledge,” familes making less than $250,000 will not “see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.”

Maybe Crossroads GPS should have cited PolitiFact rather than pumping up the list of taxes to more than $500 billion.

Regarding the claim that “millions could lose their health care coverage and be forced into a government pool,” this is drawn from a recent Congressional Budget Office report. The ad, unlike some critics of the president (see this over-the-top Chamber of Commerce ad), does not make the mistake of claiming “20 million” would lose employer-based coverage — which is the most extreme scenario in the report.

The most positive scenario has 3 million being added to employer coverage, while “on balance, the number of people obtaining coverage through their employer would be about 3 million lower in 2019 under the legislation than under prior law,” the CBO concludes.

That certainly qualifies as “millions,” though it should be noted this is only a projection.

Still, it was a noteworthy pledge made by the president, one he clearly had difficulty keeping.

The Pinocchio Test

The president, like any politician, is certainly vulnerable to charges that he did not achieve certain pledges. PolitiFact’s Obamameter says the president has kept 36 percent of his pledges, which would certainly be a good batting average in baseball, but perhaps not in politics. Only 14 percent of Obama’s pledges are listed as fully “broken,” with the rest stalled, compromised or still in the works.

But Crossroads GPS goes too far when it suggests that Obama has raised so many taxes, costing so much, on families making less than $250,000. By and large, such families have been spared most of Obama’s tax increases, and benefited from his tax cuts.

One Pinocchio

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Check out our candidate Pinocchio Tracker

Follow The Fact Checker on Twitter and friend us on Facebook
.

Track each presidential candidate’s campaign ads

Article source: http://www.washingtonpost.com/blogs/fact-checker/post/obama-broken-promises-on-taxes-and-health-care/2012/05/16/gIQAXgfZUU_blog.html

Reducing air pollution during 2008 Beijing Olympics boosted residents’ heart health, research reveals

Fireworks light up the sky at the end of the closing and hand-over ceremony for the 2008 Beijing Olympic Games at the ‘Bird’s Nest’ on August 24, 2008.

(Credit:
CHRISTOPHE SIMON/AFP/Getty Images)
(CBS News) An interesting new study of the 2008 Beijing Olympics lends new evidence to the link between air pollution and heart health. The study found that the Chinese government’s cleanup efforts to reduce the smog and chronic air pollution that plagues the city led to a temporary boost in heart health, only to worsen after the games.

“We believe this is the first major study to clearly demonstrate that changes in air pollution exposure affect cardiovascular disease mechanisms in healthy, young people,” said study author Dr. Junfeng (Jim) Zhang, a professor of environmental and global health at the Keck School of Medicine of the University of Southern California, said in a university news release.

Published in the May 15 issue of the Journal of the American Medical Association, the study details the cleanup efforts in Beijing that the Chinese government spent $17 billion on the prepare the city for the games, which included closing down factories and limiting automobile traffic from July 20 to Sept. 17 to encompass the duration of the Olympics and Paralympics.

“Beijing is one of the most polluted cities in the world, and the Chinese government had proposed to reduce pollution levels to be comparable to other Olympic host cities,” Zhang said. “We wanted to take advantage of such a huge intervention and look at what happens to people biologically.”

Zhang’s team recruited 125 male and female resident doctors who were an average age of 24 and worked at a hospital in central Beijing – all were non-smokers. Researchers examined their heart rate, blood pressure and biological markers for inflammation and blood clotting, which can be suggestive of heart disease risk.

What did they find? During the Olympics, the researchers observed significant reductions in biomarkers called “Von Willebrand factor” and “soluble CD62P levels” that are associated with blood clotting. Following the Olympics, soluble CD62P levels shot back up along with systolic blood pressure levels, changes that are associated with atherosclerotic plaque instability, which can lead to a heart attack or stroke.

“I’m young, I’m super healthy, I shouldn’t worry about those things, is how young people think,” Zhang told The Atlantic. “But this study shows that even if you’re young and healthy, your physiology can actually detect the impact of air pollution.”

A study this February in the Archives of Internal Medicine also reported a link between air pollution and heart health, finding people who live near polluted cities or major highways are at a higher short-term risk of having a heart attack, Reuters reported.

The study underscores the fact that people’s health and the environment are indelibly linked, says Dr. Caroline Dilworth, program administrator from the National Institute of Environmental Health Sciences (NIEHS), which provided funding for the study, said in the news release.

Said Dilworth, “When air pollution levels are lowered, the health benefits can be immediate,”

Article source: http://www.cbsnews.com/8301-504763_162-57435344-10391704/reducing-air-pollution-during-2008-beijing-olympics-boosted-residents-heart-health-research-reveals/

How to pick out the limo for travelling?.

Location:
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Posted in the Travel category.
Topics: ft lauderdale limo town car service, miami city limo, miami limo, miami limo service, miami limousine

Article source: http://www.bakersfieldvoice.com/content/how-pick-out-limo-travelling

World-travelling musician comes home for long weekend

‘Justice’ arrives in Muskoka

MUSKOKA — As inevitable as the blackfly, the summer will also attract your…

90 caught travelling without ticket

Article source: http://timesofindia.indiatimes.com/city/varanasi/90-caught-travelling-without-ticket/articleshow/13274684.cms

3 Things You Should Know About Small Business: May 18

NEW YORK (MainStreet) — What’s happening in small business today?

1. Live streaming from National Small Business Week. The small business community will gather in Washington, D.C. next week for the 49th annual National Small Business Week Conference, sponsored by the Small Business Administration. But if you can’t get to D.C., the conference will be live streaming a host of free educational sessions for small business owners from Sunday to Tuesday.

A few don’t miss sessions include:

How Small Businesses Can Win Big With Large Companies on Sunday from 3 p.m. ET to 5 p.m. ET

Export Forum: Take Your Business Global on Monday at 11:30 a.m. ET -12:45 p.m. ET

Improving Your Business Through Sub-Contracting Opportunities on Tuesday from 11:30 a.m. ET to 12:45 p.m. ET

2. Turn a profit with an Etsy business. Etsy-based businesses collectively made $300 million in sales in 2010, however, not all entrepreneurs on the craft-based website are able to turn a profit.

Before you even sell one item on Etsy decide how much money you need to make to generate a profit margin that makes your time worthwhile. This will be an important guideline to follow.

Noobpreneur offers suggestions on how to make sure you profit from your Etsy business. First “showcase products” as best as possible. This includes excellent quality pictures and even better descriptions.

“By presenting your products in as fantastic a way as possible you can give your potential customers an overwhelming desire to see and touch the products, and if you can do that they will buy,” the article says.

Next figure out how to develop a strong, yet relevant, brand for your business. Customers will follow strong brands and buy from you.

Make sure the way you list the products is as specific as possible — this will help with targeting customers.

Finally, even though your store is online, make sure you get the word out offline.

3. Immigrant entrepreneurs on the rise. Immigrant business owners started 28% of all new firms last year and are twice as likely to start a business as compared with those born in the U.S. This is a notable shift, according to CNNMoney. Apparently the recession drove many people, including immigrants — a significant number of who were represented in lower wage sectors — to entrepreneurship.

Hispanics in particular are creating new businesses at a faster clip than any other ethnic group, the article says.

– Written by Laurie Kulikowski in New York.

To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com.

To follow Laurie Kulikowski on Twitter, go to: http://twitter.com/#!/LKulikowski

To submit a news tip, email: tips@thestreet.com.

Follow TheStreet on Twitter and become a fan on Facebook.

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Article source: http://thestreet.com.feedsportal.com/c/34634/f/633967/s/1f7c035e/l/0L0Sthestreet0N0Cstory0C115426950C10C30Ethings0Eyou0Eshould0Eknow0Eabout0Esmall0Ebusiness0Emay0E180Bhtml0Dcm0Iven0FRSSFeed/story01.htm

May 20-26 is National Small Business Week

WEST DES MOINES, Iowa–(BUSINESS WIRE)–

According to the U.S. Department of Commerce, small business goods and
service are responsible for half of the entire U.S. gross domestic
product (GDP). The U.S. Small Business Administration (SBA) celebrates
National Small Business Week, May 20-26, as a time to recognize the big
contributions made by small businesses.

Because business owners invest a tremendous amount of time, money and
resources to make their ventures successful, investing in contingency
planning may be put on the back burner. However, according to SCORE, a
nonprofit association dedicated to helping businesses, if a small
business can’t resume operations within 10 days following a disaster, it
probably won’t survive. To help small businesses thrive through good
times and bad, Farm Bureau Financial Services offers these tips to help
owners protect the investment they’ve made.

Business Insurance: Protect the Business

The first step in protecting a business against potential risks is to
make sure the right business insurance coverage for property damage and
liability claims is in place. Business property insurance covers
buildings, business personal property, loss of income and other
protections. Business liability insurance covers claims for injuries to
others or to the property of others and can include special
circumstances like libel, slander or invasion of privacy. Business
liability insurance also can cover claim defense costs. Coverage for
vehicles used for business purposes is also a necessity ― the best
coverage depends on the use and ownership of the vehicles, so business
owners should check with their insurance agent.

Emergency Preparedness: Be Ready for the Unexpected

Disaster preparedness can be the key to business survival, and having a
plan in place can expedite the reopening of a small business. After all,
even when closed for business, owners still have to pay the bills. The SBA
can help with emergency preparedness information, resources and even
disaster recovery assistance.

Risk Management: Safety First Is Good Business

Any business’ overall risk management program should include an emphasis
on workplace safety. To help make safety a priority in the workplace,
business owners should pick a safety officer and hold safety meetings to
discuss potential risks and solutions. Federal and state guidelines are
a good place to start when putting together a company safety program.

Utilize Resources: Consider a Mentor

SCORE
provides education and mentorship to business owners through a network
of 13,000+ volunteers. Supported by the SBA, SCORE provides counseling,
tools and workshops at no charge or at a very low cost.

Business Succession Planning: It’s Never Too Early

It’s never too early to start planning how to keep a business going.
Every business scenario is unique ― owners may plan on leaving at
retirement, leaving the business as a legacy to children or selling to
new owners, but life is uncertain. Planning ahead can ensure all the
elements of a good business transition strategy are in place.

Downtime: Good for Business

Business owners have a lot to think about ― marketing, service,
fulfillment, supervision, cash flow ― the list goes on and on. It’s easy
for an eight-hour day to turn into a 24-hour marathon. That’s why
experts recommend finding a way to create personal time by turning off
the computer and cell phone and spending time with family, friends or
alone, just recharging. After all, business owners who have no time for
themselves will eventually burn out, and that’s never good for business.

Using just a few simple tips business owners can help protect the
investment they have made in their business.

About Farm Bureau Financial Services

Through an exclusive, multi-state agent force, the companies affiliated
with the Farm Bureau Financial Services brand underwrite, market and
distribute a broad range of insurance and financial services products to
individuals and businesses. Learn more about us by visiting Facebook http://www.facebook.com/FarmBureauFinancialServices,
Twitter https://twitter.com/#!/fbfs
or YouTube http://www.youtube.com/user/FarmBureauFinclSvcs.

Article source: http://finance.yahoo.com/news/may-20-26-national-small-151100484.html

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