Most fires are preventable. A single spark can turn years of hard work into a devastating loss. Federated® has observed an alarming rate of preventable fires. Investigation of these fire losses revealed that 96% could have been avoided with consistent focus on specific hazards and exposures.1 Prior to Servicing (or Storing) Equipment • Remove ignitable [...] The post Prevention Guidelines for Battery Fires first appeared on Equipment Dealer Magazine ..read more

Equipment dealers face many daily challenges, including general maintenance and housekeeping at business locations. As an owner and leader, it’s your job to prioritize safety by ensuring cleanliness, providing training, and enforcing clear policies to prevent accidents, downtime, and costly claims. Walk the Walk and Talk the Talk Conducting regular inspections and walkthroughs of your [...] The post Keep Your Workplace Clean — Take Action Today first appeared on Equipment Dealer Magazine ..read more

In the equipment dealer industry, there is plenty to consider when it comes to setting the stage for solid risk management leadership. Consider the following to lead by example and empower your team: It Starts At The Top Setting the tone from the top is critical for fostering a risk-aware culture. Leaders should model the [...] The post Enhancing Risk Management Through Leadership first appeared on Equipment Dealer Magazine ..read more

There are many facets to working in the equipment dealer industry, and one of the most important is the health and safety of anyone who enters, exits, and works at your business. It only takes a moment, but if a slip, trip, or fall occurs, it could have devastating and long-lasting consequences. Keeping your employees [...] The post How Are You Preventing Slips, Trips, and Falls at Your Business? first appeared on Equipment Dealer Magazine ..read more

Lithium-ion batteries power everything from laptops and smartphones to power tools and vehicles with efficiency and portability. However, their widespread use comes with significant risks, as these batteries are contributing to a growing number of workplace fires. Thermal Runaway Dangers “Thermal runaway,” a process triggered by incorrect handling, storage, or charging, can cause lithium-ion batteries [...] The post Igniting Concerns: The Fire Hazards of Lithium-Ion Batteries first appeared on Equipment Dealer Magazine ..read more

As a business owner in the equipment dealer industry, ensuring the safety of your company drivers is not only crucial for their wellbeing, but also for your business’ reputation. Distracted driving poses a significant threat; in 2022 alone, 42,795 people were killed on American roads.1 To combat this, the implementation of telematics solutions can play a vital role in safeguarding your business and protecting your drivers. Telematics: A Powerful Solution Federated Insurance® urges its member clients to rally around the message: Protect Your Drivers and Your Reputation. This serves as a reminde ..read more

When it comes to risk management in the equipment dealer industry, do you know who is making the biggest difference when it comes to maintaining a day-to-day safety culture? The answer should be everyone. As a business owner you’ve tackled challenges, but have you developed as far as you can in terms of safety? Consider areas that might need changes or improvements to help your employees and peers be the best they can be. If a preventable loss were to occur, how fast would you be back on your feet? And would you be able to recoup any losses with rising inflation and cost of materials? With con ..read more

During National Fire Prevention Month this October, Federated Insurance® is helping NAEDA members spread a message of fire prevention at businesses. Consider following these three steps to help curb the risks of dangerous or deadly fires before one sparks. Stay educated on the consequences of a potential fire at your business. The impact of a fire can be: Deadly Expensive Time-consuming Overwhelming It’s not just your business that could be affected. Your employees, their families, and their livelihoods are also at stake. Implement a fire prevention plan at your business. Your plan might ..read more

Estate planning may seem like something you won’t have to worry about for a long time. However, the reality is that you never know what could happen in the future. Careful planning now can help you, your employees, and your family be more prepared for the days ahead.  As a business owner, you have a responsibility to help ensure that your business transfers according to your wishes at your retirement, or in case of disability or death. A plan crafted by your attorney with appropriate legal documentation is instrumental to helping prepare for a smooth and effective transition.  You’re ..read more

When it comes to weather and climate disasters, the clock is ticking. As the likelihood of a major climate event impacting your business surges higher each year, disaster recovery planning is critical. In 2022, the U.S. experienced 18 separate weather or climate disasters that resulted in at least $1 billion each in damages. It had the eighth most disaster-related fatalities for the contiguous U.S. since 1980, with 474 direct or indirect fatalities. Damages from the 2022 disasters totaled $165.1 billion, and the combined cost from events of this caliber over the past 10 years totals $1.1 tril ..read more