Risk Management

Helping Businesses Proactively Manage Their Risk

Risk management is an important practice for any business, no matter what industry you’re in. Being proactive about understanding the risks you face every day and managing these exposures can help you reduce the likelihood of future claims – not to mention the costs and time involved. VGM Insurance is here to assist you by providing a variety of educational resources focused on risk management best practices, developed by industry professionals. This is how we go above and beyond, not only providing you with the coverage you need now, but helping you protect your business for the future. It’s protection beyond policies.

Claims Case Studies Coverage Insights Risk Management Checklists Risk Management Strategies White Papers

Claims Case Studies

In these real-life Claims Case Studies, you'll walk in the shoes of actual business owners as they experience a variety of different claim situations. Learn what went wrong, and what you can do to mitigate the risk for your own business!

A Mobility Solution Immobilizes a Patient document image

A Mobility Solution Immobilizes a Patient In this real-life scenario, you’ll get an inside look at at when equipment does not work as it should, and a woman is thrown from her motorized scooter. You’ll see the true power of documentation and learn some simple documentation best practices that can help better prepare your business for future claims. Download

A Subcontractor Leaves Your Customer High and Not So Dry document image

A Subcontractor Leaves Your Customer High and Not So Dry In this scenario—“The Case of the Shoddy Job”—you’ll see a real-life claim from a home accessibility provider’s perspective. You’ll learn firsthand what can happen if you put your trust in the wrong person. But you’ll also learn what you can do to prevent and mitigate your risk. Download

Best Practices for HOA Property Contracts and Maintenance document image

Best Practices for HOA Property Contracts and Maintenance Navigating relationships with neighbors can be tricky for anyone. But that’s especially true for golf courses and country clubs with multiple homes lining the course. And when a structure such as a waterway, straddles the property line, well, things get even more complicated. In this story, you’ll see through the eyes of a club owner as they wade through the damage left behind after a waterway washes out. We’ll then provide some best practices to help prepare and protect your club from this kind of exposure. Download

Certified Mail and Notice of Suit document image

Certified Mail and Notice of Suit Given the hustle and bustle of today’s culture, many of us may find it difficult to keep up with all of the communications we receive, including those that are addressed through the mail. In certain instances, however, missing a piece of mail could be extremely costly to your business. Download

Crime Coverage: The Case of the Crooked Cook document image

Crime Coverage: The Case of the Crooked Cook Country club managers rely on a variety of employees to ensure their business runs smoothly. In this story—based on an actual claim—you’ll see through the eyes of a country club owner as they realize the importance of commercial crime insurance. Download

Dry Needling in Physical Therapy document image

Dry Needling in Physical Therapy In recent years, dry needling has increasingly been used in physical therapy settings to alleviate pain and increase range of motion for patients. However, as with any procedure, there are potential complications. In this story—based on an actual claim—you’ll see through the eyes of a physical therapist one complication that can arise when using dry needling to alleviate a pain in a patient. Download

Equipment Involved in Injuries document image

Equipment Involved in Injuries Knee scooters always look like a fun way to travel the road to recovery following an injury. Yet, many may be surprised to know just how frequently claims arise regarding patients who were injured while using one. Download

Explaining Proper Use of Equipment document image

Explaining Proper Use of Equipment Home medical equipment providers fulfill an essential function in getting patients the equipment and supplies they need. But getting the proper equipment to the patient is only part of the puzzle. Patients also need to understand the proper use of the equipment to promote the best outcomes and avoid injury. Download

Hot and Cold Treatment in Physical Therapy document image

Hot and Cold Treatment in Physical Therapy Join us in this scenario—based on a true story—as you look through the eyes of a physical therapist who sees what can happen when heat therapy doesn’t go as planned. After you’ve read through the account, we’ll provide some best practices you can use to help ensure you’re prepared for the unexpected. Download

Investigating an Exploding Oxygen Concentrator document image

Investigating an Exploding Oxygen Concentrator Based on a real-life claim, you will take the point of view of a claims adjuster re-opening the file and investigating the scene following a mysterious oxygen concentrator explosion and its soot-covered surroundings. You’ll discover that it’s never easy to piece together what happened after the fact. Download

Making a Home More Accessible document image

Making a Home More Accessible Based on a real-life claim, you will learn what happens when an issue with a stair lift puts a patient’s life in danger. You’ll see the true power of documentation, and learn simple improvements you can make to your documentation practices today, to help better prepare your business for the future. Download

Manufacturer Representatives in the Operating Room document image

Manufacturer Representatives in the Operating Room In this story—based on an actual claim—you’ll see through the eyes of a medical manufacturer representative as they assist a surgeon performing a knee replacement. We’ll then provide some best practices to help protect all parties involved. Download

Responding to a Ransomware Attack document image

Responding to a Ransomware Attack With cyberattacks becoming increasingly common among businesses in the healthcare industry, it’s critical to take every conceivable precaution to protect your data. Yet, many businesses are still of the “it’ll never happen to me” mindset. In this scenario, you’ll discover what it’s like to experience a cyberattack as you take the point of view of a provider who suddenly loses access to her data. Download

The Cost of Cutting Corners - Why Every Business Should Consider Excess Liability Insurance document image

The Cost of Cutting Corners - Why Every Business Should Consider Excess Liability Insurance There’s nothing worse than thinking you’re covered in case of a claim—only to later discover you’re not. Excess Liability insurance is an extra layer of protection to eliminate this scenario. It places an additional limit on top of the existing limits attached to liability policies, including General Liability, Business Auto liability, and Workers’ Compensation liability. Here’s an example of a real-life case where Excess Liability coverage could have prevented the loss of one business owner’s dream. Download

The Property Exposure Your Club May Not Have Considered document image

The Property Exposure Your Club May Not Have Considered Few people consider the sheer time and cost that comes with maintaining a pristine and playable green. In this story, you’ll see through the eyes of a club owner as they take stock of damage left behind by a disgruntled superintendent whose employment was terminated. Download

Three Cases of Disappearing Data document image

Three Cases of Disappearing Data Cyberattacks on businesses of all sizes, across all industries, are becoming more common and more impactful. As business owners and operators become more aware of these threats, malicious actors and their methods have become progressively sophisticated. Frightening as the facts may be, there are ways to protect your business and your data. Download

Unexplained Equipment Disappearance document image

Unexplained Equipment Disappearance As you read through this scenario, you’ll take the point of view of a provider in search of a ventilator that’s gone missing after being rented to a patient for a prolonged period of time. Costing thousands of dollars, many types of medical equipment, including ventilators, are expensive to lose. Download

What Your Club Needs to Know Before Hiring Third-Party Contractors document image

What Your Club Needs to Know Before Hiring Third-Party Contractors In this story—based on actual events—you’ll see through the eyes of a club owner as they realize just how important it is to do your due diligence upfront when hiring a third-party contractor. We’ll then provide some best practices to help protect your business. Download

When a Low Air-Loss Mattress Loses Air document image

When a Low Air-Loss Mattress Loses Air Based on a true story, this account highlights the importance of documentation to protect your business. You will re-open the file to piece together a mysterious equipment replacement. You’ll discover that it’s never easy to piece together what happened after the fact (especially when the documentation you need is nowhere to be found). Download

Coverage Insights

Do you truly understand what your insurance policies cover and what they don't? Is your business properly protected? Learn more about the most important coverages for your business in these Coverage Insights resources.

5 Reasons Your Business Needs Hired and Non-owned Auto Coverage document image

5 Reasons Your Business Needs Hired and Non-owned Auto Coverage Do your employees ever drive their own cars for work purposes? Even seemingly innocuous errands can become big liabilities if your employee is in an accident on the way. Download

Business Auto Insurance - Controlling Your Costs document image

Business Auto Insurance - Controlling Your Costs You’ve probably noticed that your auto insurance premiums – both business and personal – have gone up more than usual recently. There are a number of reasons for that. Download

Business Interruption Insurance document image

Business Interruption Insurance Traditional Property Insurance does not cover a loss of income when a business must temporarily close. With Business Interruption Insurance, also referred to as Business Income coverage, setbacks can be minimized by simply adding this coverage to your Property Insurance policy. Download

Commercial Auto Insurance Trends to Watch For in 2021 document image

Commercial Auto Insurance Trends to Watch For in 2021 If your business uses vehicles for any part of your operation, whether owned, leased, or rented, it’s imperative to have the right commercial auto insurance policy. But beyond making sure you’re covered in case of an accident, keeping up with what is happening in the market can help you be proactive about managing your risk. Download

Cyber Risks and Liabilities - Ransomware document image

Cyber Risks and Liabilities - Ransomware High-profile cyber attacks on companies such as Target and Sears have raised awareness of the growing threat of cyber crime. Recent surveys suggest that many small-business owners are still operating under a false sense of cyber security. Download

Employment Practices Liability Trends of 2021: What Business Owners Need to Know document image

Employment Practices Liability Trends of 2021: What Business Owners Need to Know Whether your business is large or small, if you have employees, you have employment practices liability (EPL) risks. Here are the most important EPL trends to watch for in 2021, as well as proactive ways to manage your risk. Download

Installing Equipment in Patients’ Vehicles: Why HME Businesses Need To Consider Garage and Garagekeepers Liability document image

Installing Equipment in Patients’ Vehicles: Why HME Businesses Need To Consider Garage and Garagekeepers Liability Even the safest garages will occasionally have accidents that result in devastating lawsuits capable of closing their company’s doors. Regardless of the percentage of revenue your business generates through garage operations, if you install equipment of any kind in patients’ vehicles, you need to have Garage and/or Garagekeepers Liability insurance. Download

Protection from Audits - Billing Errors and Omissions Coverage document image

Protection from Audits - Billing Errors and Omissions Coverage Being audited by a RAC or ZPIC can be incredibly stressful for any health care provider, whether you’re a home medical equipment provider, a physical therapy practice, or a home health agency. There are stories galore about health care providers shutting their doors and closing up shop because they were found guilty and fined for receiving overpayments. Download

What Does Contents Insurance Cover? document image

What Does Contents Insurance Cover? Contents insurance, otherwise known as Property insurance, comes in many forms to suit your specific needs. Before purchasing coverage, it’s important to take a complete inventory of all your business contents and property to determine how much you need to insure. This step is vital to ensuring you will have adequate coverage to continue your business in the event of a covered loss. Download

What Is a Workers' Compensation Experience Mod And How Can I Control It? document image

What Is a Workers' Compensation Experience Mod And How Can I Control It? We all know as business owners that Workers’ Compensation is an essential coverage we need to carry. But, many of us may be unaware of how our premium is calculated and what factors are considered. Download

What Is Commercial Auto Insurance and Why Do You Need It? Vital Coverage Insights Every Business Owner Needs to Know document image

What Is Commercial Auto Insurance and Why Do You Need It? Vital Coverage Insights Every Business Owner Needs to Know The National Highway Traffic Safety Administration (NHTSA) estimates crashes caused by distracted driving alone account for $46 billion in damages a year. Whether your business owns a fleet of vehicles or you and your two employees occasionally use your personal vehicles for work errands, it’s likely your personal auto insurance won’t provide adequate coverage for incidents that occur while you’re driving for business purposes. Commercial Auto insurance protects both your drivers and vehicles in crucial ways. Download

What Is Excess Liability Coverage and Why Do You Need It? document image

What Is Excess Liability Coverage and Why Do You Need It? As a business owner, it’s vital to be proactive and prepared for the worst case scenario. You don’t want to find that a verdict or settlement exceeds the limits of your insurance policy and be on the hook for hundreds of thousands—even millions—of dollars. This is where Excess Liability coverage comes in. Download

What Is Lessor’s Risk Only Insurance? Coverage Insights and Claims Scenarios for Every Commercial Landlord document image

What Is Lessor’s Risk Only Insurance? Coverage Insights and Claims Scenarios for Every Commercial Landlord As a commercial landlord, you provide the building space for other business owners to conduct their operations— but what happens when tragedy strikes? Are you responsible? Or the tenant? The risk of a tenant filing a lawsuit against you for any property damage or bodily injury that happened at your building is a constant concern. This exposure remains, even if your only tenant is a business you own. That’s when Lessor’s Risk Only (LRO) insurance, also known as Landlord’s Insurance, can help. It’s liability coverage for those who lease at least 25% of their building. Download

What Is Medical Malpractice Insurance and Why Do You Need It? document image

What Is Medical Malpractice Insurance and Why Do You Need It? Medical Malpractice Insurance is an important coverage for nearly all types of healthcare professionals, including nurses, pharmacists, prosthetists, physical therapists, and even personal trainers. If you or your employees provide medical advice or services to patients, you’ll want to ensure the appropriate coverage is in place should a claim arise. Download

When Should I Contact My Insurance Company About a Potential Claim? document image

When Should I Contact My Insurance Company About a Potential Claim? Business owners have a lot to keep track of, particularly when it comes to risk management. Let’s take a look at some situations we frequently respond to at VGM Insurance to see what incidents of this nature might look like, what you should do, and how to gauge when you should contact your insurance company. Download

Workers' Compensation - Workplace Wellness Programs to Reduce Costs document image

Workers' Compensation - Workplace Wellness Programs to Reduce Costs By implementing workplace health initiatives, many companies are taking proactive measures to help with decreasing health issues affecting their employees. Download

Risk Management Checklists

When it comes to risk management, sometimes a checklist is the best way to ensure you've covered your bases. Check out these Risk Management checklists tailored to a variety of industries and businesses.

Emergency Hurricane Preparation Checklist document image

Emergency Hurricane Preparation Checklist It is vital for business owners and managers to consider the fact that a natural disaster, such as a fire, flood, tornado, or hurricane is possible. To combat these risks, you must take the necessary steps before a disaster strikes to ensure business continuation. Download

Fleet Safety Checklist / Driver Acceptability Matrix document image

Fleet Safety Checklist / Driver Acceptability Matrix A Fleet Safety Policy is an important risk management component of any business that manages a fleet of motor vehicles and drivers. The checklist provides some key elements to incorporate into your own Fleet Safety Policy. Download

Home Health Care Risk Management Checklist document image

Home Health Care Risk Management Checklist Risk Management is the process of analyzing your operation, identifying any exposures and implementing controls and techniques to mitigate these exposures. This process is essential to your business insurance but more importantly, to your business in general. Download

Home Medical Equipment Risk Management Checklist document image

Home Medical Equipment Risk Management Checklist Having risk management controls in place will result in an operation that maintains the highest standards of performance and ethics. Managing a high quality operation will result in greater production and longevity in the marketplace. Download

Orthotics and Prosthetics Risk Management Checklist document image

Orthotics and Prosthetics Risk Management Checklist From an insurance perspective, the presence of a high quality risk management process will result in a much lower possibility and probability of loss. Read our Orthotics and Prosthetics Risk Management Checklist to for tips on operating safely and efficiently. Download

Outpatient Therapy and Rehabilitation Risk Management Checklist document image

Outpatient Therapy and Rehabilitation Risk Management Checklist Risk Management is the process of analyzing your operation, identifying any exposures and implementing controls and techniques to mitigate these exposures. Following these guidelines will assist you in managing a high quality operation for many years to come. Download

Property Claim Instructions document image

Property Claim Instructions Read these instructions for guidance regarding placing a Property Claim. Download

Risk Management Strategies

Check out these Risk Management Strategies for tips and tricks to keep your business prepared! From important market trends impacting your premiums, to social issues impacting claims, to human resources trends and disaster recovery, we've got you covered!