Insurance

Business Interruption Insurance

Posted on by McGriff Williams in Blog, Business Insurance, Gainesville, Insurance |

In a time like the current pandemic of COVID-19, we are all experiencing some serious interruption. As individuals, it’s come in the form our personal relationships, children’s schools, sports, social events, networking, and even the everyday errand of running to the grocery store. Those restrictions are inconvenient and may be aggravating but in the end, not totally life changing. After all, some may even be enjoying the forced slow down and more time at home with their families.

But for businesses, it’s a different story. Think about your favorite restaurant, retailer, hardware store, caterer or event venue your dentist, your hair stylist, your daycare and your gym. Think about how difficult it would be to tell employees of 20 years that you can’t afford to pay them or that you have to close the doors. Think about the students that work hourly to pay their way through school and support themselves, already living paycheck to paycheck to make ends meet.

This is a tough time, no doubt about it. It’s terrible. And it’s forcing business owners to look anywhere and everywhere for options. One avenue business owners are exploring is Business Interruption coverage on their commercial insurance policy, which is what we’d like to clarify.

Unfortunately, in most cases, this type of coverage does not apply to any type of disease or outbreak. In the event of a natural disaster or man-made crisis, this coverage would help protect businesses against financial losses if they had to suspend operations or operate at a reduced rate/capacity.

Some of the things Business Interruption typically covers are:
– lost revenue
– rent and lease payments
– mortgage payments
– other loan payments and taxes
– employee payroll or relocation costs

This coverage may not extend for the situation we’re in right now but it’s comforting to know it’s there when applicable. If there’s property damage, closure, or lack of operations that does qualify for coverage, this could get a company back up and running rather quickly. Suffering from economic shock and financial losses is stressful enough, so the silver lining in those situations would be that this is there to help.

There really isn’t a great solution or magic answer to how we’ll recover from this Coronavirus situation but if we can stay positive, band together, and help where we’re able surely, we’ll come out of it okay and as best prepared as we can be to get to work on recovering.

“Run Your Day The Intentional Way”

Posted on by McGriff Williams in Human Resources, Insurance, McGriff-Williams News |

THEME. By definition, it is the subject of a talk, a piece of writing, a person’s thoughts, or an exhibition; a topic. In our situation, it’s what we want as our personal and professional priority for this year. It’s our compass. It’s what we want every decision to be guided by and a focus that everyone on our team keeps at the forefront of their minds at all times.

INTENTIONAL. By definition, it is done on purpose; deliberate. It takes thought, effort, and strategy. It means you are purposeful in every word and action. It takes engagement and belief in both the process and the end result.

We, as a company, were challenged to come up with a theme for 2020. We’re making some changes and shifting some things we do as an organization and wanted this theme to kick off some really exciting things for our future as a company. So, we tapped into the best resource of all our people. We involved everyone on our team to participate and contribute ideas to get to our theme. We talked a lot about focusing on the core values our company has always lived by. We want to make them a top priority and shift our minds back to what’s truly important, rather than just getting caught up in a busy routine and going through the motions day in and day out. We discussed how if you don’t run your day, your day will run you. So drumroll we are proud to reveal our 2020 theme: RUN YOUR DAY THE INTENTIONAL WAY.

Intentionality can be accomplished in many ways. Here is how we are striving to be intentional rather than accidental:


– The way we show appreciation to our staff and foster our culture
– How we treat our clients and the guidance we provide them
– Taking a holistic approach to their individual situation and exposure
– Getting creative with solutions to problems some may not even know exist
– Who we partner and do business with

Running your day the intentional way starts with the second your eyes open in the morning (side note: it helps to have coffee) and your feet hit the floor. Your attitude and intentions can set the tone for the rest of the day, week, month, and year. We plan to give everything we’ve got to stick to our goals and support eachother throughout this year to really do things on purpose with purpose. Join us! Go choose a word, a resolution, a theme and run your day the intentional way!

Would your bills be covered if you were unable to work?

Posted on by McGriff Williams in Disability Insurance, Insurance |

Often times, people underestimate the issues they may face if they’re out of work and their paycheck stops. Income Protection coverage could be a huge help if you have it.

You probably have an insurance policy in place to cover your home, your car, your liability, even your life but what about your income? Disability Insurance can help replace a portion of your paycheck if you are faced with an injury or illness that makes you unable to work. And unlike most insurance policies that pay the benefit directly to a provider or company, Disability Insurance is paid to YOU.

According to the Social Security Administration, more than one in four of today’s 20-year-olds can expect to be out of work for at least a year because of a disabling condition before reaching retirement age. One in five Americans (that’s over 60 million people!) live with a disability of some kind and one in ten of those disabilities is severe.

Speaking of Social Security, there are benefits there but tend to be rather modest. Social Security Disability Insurance payments are often far less than a regular paycheck (see ssa.gov for current figures). Rest assured, you have options. Many employers that provide employee benefits offer short term and long term Disability coverage and typically at pretty competitive rates. However, there could be stricter guidelines or limitations when provided by an employer. You can also elect to purchase individual Income Protection coverage and protect a greater amount than you think.

You may not be able to predict the future but having a plan in place will make it much more pleasant for you and your family. As always, please reach out to us with any questions at (352) 371-7977. We are happy to help and want you to feel as comfortable and protected as possible.