Category Archives: Mt. Washington Valley Business

Men like to Soak, Sip, and Relax, too, at The Soaking Pot

By Isaac Rader
for the Mt. Washington Valley Chamber of Commerce

Stress relievers come in all forms but a  spa day is one of my favorites. It is always a great way to allow myself an hour of peace and serenity, to just float away from the world and completely relax.

I have been to many spas but they are not often considered male territory. I think that is changing. Men suffer plenty of stress and worse, they can bottle it up, or not see it as being worth revealing. There can be countless little anxieties that they keep hidden as they perseverate on them.

When I first heard of The Soaking Pot I was a bit skeptical. What, I asked, is this? Just foot soaking?

I was surprised. The Soaking Pot was a wonderful experience.

SOAK
Their philosophy is to relax the whole body from the inside out using botanical infusions of the finest salts, herbs, florals and essential oils to relax sore muscles and calm a busy mind,
SIP
Nothing gives you permission to relax like a soothing cup of tea and The Soaking Pot has partnered with some of the finest tea artisans to offer deliciously satisfying teas.
RELAX
To infuse deeper relaxation The Soaking Pot offers a menu of add-on treatments. You can add a head-neck-shoulder massage, lower leg-foot or lower arm-hand to enjoy while you soak.

My visit to The Soaking Pot was heavenly. I chose a calming soak, the Cedarwood Hops. It is meant to alleviate anxiety, insomnia, and an overactive mind. They also offer Invigorating, Balancing, and Soothing Soaks.

It was so relaxing to just sit back and turn off any worries. At first, it may seem silly or even intimidating for a man to open up to something that seems so soft, but that feeling will pass. After all, it’s just taking off your shoes and socks.

For more information visit The Soaking Pot for their menu of services.

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Northway Bank Promotes Channele Wingrove to Branch Manager

Campton, N.H. – Northway Bank is proud to announce the promotion of Channele Wingrove to Branch Manager of the bank’s Campton location.

In her role, Channele will be responsible for cultivating and strengthening relationships in the greater Campton area and offering outstanding customer service and solutions to Northway Bank customers.

Channele’s valuable experience will be a tremendous asset as she leads her new team. She joined the bank with more than 10 years of customer service experience and most recently served as Assistant Branch Manager of Northway Bank’s Plymouth branch. Prior to that, Channele served as a Senior Financial Specialist and Employee Mentor at UW Credit Union.

NorthWay Bank promotes Channele Wingrove

A California native, Channele holds a Bachelor of Arts in Sociology from California State University, Stanislaus. She currently resides in Campton and enjoys experiencing cultures around the globe with her husband, whom she met on a trip overseas. Channele can be reached by email at cwingrove@northwaybank.com or by phone at 603-342-1420.

Northway Bank is one of the largest independent commercial banks in New Hampshire, operating 16 branches and employing more than 200 associates throughout the state. It’s New Hampshire roots date back more than a century, establishing a long heritage of local commitment. Northway Bank serves individuals and businesses, combining the neighborly approach of a community bank with the extensive products and services you might expect to find only in a big national bank. At Northway Bank, community still counts. Call 800-442-6666 or visit northwaybank.com to learn how the right bank makes a real difference.

Protect Your Key Assets with Key-person Life Insurance

Part of the series provided by Chalmers Insurance Group

Most organizations employ at least one individual who is essential to the company’s success. This person may be a partner, majority stockholder or an individual with expertise that’s unmatched throughout the rest of the company. If this person’s exit from the company is planned, such as through retirement or voluntary termination, then you can prepare for the loss and take the necessary precautions to minimize the impact.

However, if the departure is unplanned due to a death, disabling accident or sudden resignation, then the company is exposed to financial risks. If your organization employs individuals who are vital to its success, consider key-person life insurance to offset your risk. This coverage can protect your organization’s solvency in the event that you lose the key person or people without warning, and also the investments made by lenders and investors to the company.

How Does Key-person Life Insurance Work?

It’s important to know how key-person life insurance works while you consider if it’s the right fit for your company:

  • The employer purchases key-person life insurance on the key individual(s).
  • The employer is the beneficiary of the policy and applies for and owns the coverage. If the key employee dies prematurely, the policy pays out to the employer.
  • In some cases, IRS guidelines allow for tax-free dollars from the policy to be put towards finding, hiring and training a replacement employee, compensation for lost business during the transition, and financing timely business transactions.
  • Depending on the specific language in the policy, it can sometimes be transferred to a departing key employee as a retirement benefit.
  • The policy can be used to buy out the key employee’s shares or interest in the company.
  • Premiums are based on several factors, including the key employee’s age, physical conditions and health history. The amount of coverage also affects the premium.

Advantages of Key-person Life Insurance

Key-person life insurance has a number of advantages that can help mitigate your company’s risks:

  • Policies can be easily implemented and don’t require IRS approval. Your business only needs to prepare an annual report for the IRS.
  • If all IRS guidelines are followed, the policy’s benefits may be paid to the company tax-free.
  • Customers, creditors, lenders and stockholders have the assurance that the business has a continuation plan and coverage in place.
  • There’s flexibility when using funds paid by the policy.

Considerations before Purchasing Key-person Life Insurance

The following points should be considered before purchasing key-person life insurance:

  • Estimate the value of your key employees. Think about the projects that would be lost without these people, the amount of sales generated by these people and costs associated with replacing them.
  • Determine if this coverage is necessary, as credit insurance will cover outstanding loans and debts.
  • Create a business continuity plan that outlines how your business will function if you lose key employees.

Chalmers Insurance Group understands that your key assets need protection and we’re here to assist you. Please contact us today at 800-360-3000 to learn more about our key-person life insurance solutions and other ways to mitigate your risks.

Save Money Insuring Your Teen Driver

Part of the series provided by Chalmers Insurance Group

Insuring a new driver can be expensive. Learn what you can do to keep your premiums as low as possible and your teen accident-free.

Tips to Keep Costs Down

If you’re the parent of a teenager who is getting ready to climb behind the steering wheel, insuring your new driver can be an expensive endeavor. This is because the risk of motor vehicle crashes is higher among 16 to 19-year-olds than among any other age group. We’ve gathered some helpful tips to help you keep your premiums as low as possible, and keep your teen safe and accident-free.


Add Your Teen to Your Auto Policy

Rather than setting up an independent policy for your teen driver, consider adding him or her as an additional driver on your auto insurance policy. Also, if you have more than one vehicle, keep costs down by designating which vehicle your child will be driving.

Deductible Considerations

Auto deductibles typically range from $250 to $1,000. By upping your deductible and using your insurance for big repairs, you can significantly reduce your premium.

Ask for the Student Discount

If your teenager maintains at least a 3.0 grade point average (GPA), he or she typically qualifies for a rate discount.

Weigh Your Buying Decision

Wanting to get your teenager a new car to drive with the latest safety equipment is understandable, but you may be better off purchasing a safe, used vehicle in terms of premium prices.

Set Your Expectations for Safety and Minimize Distracted Driving

Teens can get distracted easily. To help reduce potential accidents:

  • Restrict your teen’s nighttime driving
  • Do not allow them to drive with more than one other person in the car
  • Ban cell phone use while driving
  • Ride with your son or daughter occasionally to make sure they are keeping up with the safety habits that they learned in driver’s education

We’re Here to Help

Call our office today at 800-360-3000 to learn more about all of our automobile insurance and personal risk management solutions.

Top Ways to Save on Your Auto Premium:

  • Raise your deductible.
  • Ask about a good student discount
  • Have your teen keep up their good driving record
  • Ask about Chalmers Advantage personal lines discounts through your Chamber Membership

10 Cyber Security Resolutions to Reduce Your Data Exposures

Part of the series provided by Chalmers Insurance Group

Cybersecurity threats and trends can change year over year as technology continues to advance. As such, it’s critical for organizations to reassess their data protection practices at the start of each new year and make achievable cybersecurity resolutions to help protect themselves from costly breaches.

The following are resolutions your company can implement to avoid becoming the victim of a cybercrime:

  1. Provide security training—Employees are your first line of defense when it comes to cyber threats. Even the most robust and expensive data protection solutions can be compromised should an employee click a malicious link or download fraudulent software. As such, it’s critical for organizations to thoroughly train personnel on common cyber threats and how to respond. Employees should understand the dangers of visiting harmful websites, leaving their devices unattended and oversharing personal information on social media. Your employees should also know your cybersecurity policies and know how to report suspicious activity.
  2. Install strong anti-virus software and keep it updated—Outside of training your employees on the dangers of poor cybersecurity practices, strong anti-virus software is one of the best ways to protect your data. Organizations should conduct thorough research to choose software that’s best for their needs. Once installed, anti-virus programs should be kept up to date.
  3. Instill safe web browsing practices—Deceptive and malicious websites can easily infect your network, often leading to more serious cyber-attacks. To protect your organization, employees should be trained on proper web usage and instructed to only interact with secured websites. For further protection, companies should consider blocking known threats and potentially malicious web pages outright.
  4. Create strong password policies—Ongoing password management can help prevent unauthorized attackers from compromising your organization’s password-protected information. Effective password management protects the integrity, availability, and confidentiality of an organization’s passwords. Above all, you’ll want to create a password policy that specifies all of the organization’s requirements related to password management. This policy should require employees to change their password on a regular basis, avoid using the same password for multiple accounts and use special characters in their password.
  5. Use multi-factor authentication—While complex passwords can help deter cybercriminals, they can still be cracked. To further prevent cybercriminals from gaining access to employee accounts, multi-factor authentication is key. Multi-factor authentication adds a layer of security that allows companies to protect against compromised credentials. Through this method, users must confirm their identity by providing extra information (e.g., a phone number, unique security code) when attempting to access corporate applications, networks, and servers.
  6. Get vulnerability assessments—The best way to evaluate your company’s data exposures is through a vulnerability assessment. Using a system of simulated attacks and stress tests, vulnerability assessments can help you uncover entry points into your system. Following these tests, security experts compile their findings and provide recommendations for improving network and data safety.
  7. Patch systems regularly and keep them updated—A common way cybercriminals gain entry into your system is by exploiting software vulnerabilities. To prevent this, it’s critical that you update applications, operating systems, security software, and firmware on a regular basis.
  8. Back up your data—In the event that your system is compromised, it’s important to keep backup files. Failing to do so can result in the loss of critical business or proprietary data.
  9. Understand phishing threats and how to respond—In broad terms, phishing is a method cybercriminals use to gather personal information. In these scams, phishers send an email or direct users to fraudulent websites, asking victims to provide sensitive information. These emails and websites are designed to look legitimate and trick individuals into providing credit card numbers, account numbers, passwords, usernames or other sensitive information. Phishing is becoming more sophisticated by the day, and it’s more important than ever to understand the different types of attacks, how to identify them and preventive measures you can implement to keep your organization safe. As such, it’s critical to train employees on common phishing scams and other cybersecurity concerns. Provide real-world examples during training to help them better understand what to look for.
  10. Create an incident response plan—Most organizations have some form of data protection in place. While these protections are critical for minimizing the damages caused by a breach, they don’t provide clear action steps following an attack. That’s where cyber incident response plans can help. While cybersecurity programs help secure an organization’s digital assets, cyber incident response plans provide clear steps for companies to follow when a cyber event occurs. Response plans allow organizations to notify impacted customers and partners quickly and efficiently, limiting financial and reputational damages. This can be costly but cyber insurance can help.

Talk to your Chalmers account manager for more information about cyber 800-360-3000.

Check out Great American Ski Renting Company

By Isaac Rader
for the Mt. Washington Valley Chamber of Commerce

Looking for equipment on the quick, but also looking for quality? Stop by Great American Ski Renting Company, on Main Street in North Conway. They rent retail-level high-quality products for all ages and all levels of skill, all for what the mountain charges, if not less. They rent anything you could need for the winter – coats, helmets, poles, downhill skis, cross country skis, snowshoes, fat bikes, snowboards.

Even better, they offer a rare personal touch by renting custom-fitted boots. To quote the owner, “If you come in here in a t-shirt and jeans, we can get you ready for skiing.”

It opens weekends at 7:30, weekdays at 8, so there’s plenty of time to stop by and hit the slopes before they get skied off. For more information visit >

 

Personal Automobiles for Business Use

Part of the series provided by Chalmers Insurance Group

According to the U.S. Census Bureau, there are more than 240 million registered motor vehicles in the United States, and an estimated one-fourth of those are used for business in some way. If you have employees who use personal vehicles for business use, you could be exposing your business to a significant liability risk.

Even if your employees have Personal Auto Policies (PAPs) for their personal vehicles, in the event of a serious accident that occurs during business use, your business could be sued to collect additional damages.

Hands on the wheel

What is “Business Use”?

Activities that constitute general business use include visiting customers, picking up supplies, attending conferences, and commuting to and from work. For activities like this, the general business use of a personal vehicle is usually covered by a PAP. This is because a policy purchased for a specific vehicle is considered the primary insurance, which covers damages before any other policy takes effect.

An exception to general business use is livery, or carrying goods or people for a fee. Livery includes the delivery of items such as food, flowers, or wholesale or retail items to customers, as well as chauffeur services. Carpooling or ridesharing is not considered livery and is covered under a PAP.

Employees that work from home can still pose a risk if they use personal vehicles for business use. It may be more difficult to ascertain the driving habits of employees that work from home or the operational status of their vehicles. Communicate regularly with these employees concerning your company’s policy for the use of personal vehicles.

Employee PAP Coverage

For employees using their personal vehicles, the primary insurance on the vehicles will likely be their PAPs. You should know how your employees are covered for the business use of their vehicles. Encourage your employees to speak with their PAP carriers to be sure of their coverage and to make it clear to the insurance agents what business activities the vehicles may be used for.

Some PAPs appear to exclude coverage for business use, but they may include broad exceptions for a private passenger automobile, or pickup trucks and vans. However, some policies may be stricter depending on the circumstances. Clarification may prevent complications if a claim must be filed.

Four Ways to Reduce Risk

Though employees’ use of personal automobiles may pose a risk to your business, there are steps you can take to help protect both your employees and your business from liability.

  1. Review driving records and create an approved-driver list: All employees that use a vehicle for business use should be cleared to drive by a manager. This process should include reviewing motor vehicle records and PAP coverages regularly and maintaining records to help reduce risk exposure.
  2. Establish standards for personal vehicles: Even employees without any incidents on their motor vehicle records can be a risk to your business if they are driving personal vehicles that are not properly maintained. Establish company guidelines for maintaining personal vehicles. If employees are compensated for time spent driving or if they routinely use their personal vehicles for business, consider regularly collecting maintenance reports to gauge the reliability of personal vehicles.
  3. Make the company policy clear: After you create guidelines for the use of personal vehicles at your business, be sure to communicate them to your employees in a clear and timely manner. Although it is common to have policies against the use of intoxicating substances or mobile devices while driving, reminding employees of all of your company policies is an effective way to mitigate risk.
  4. Establish rental vehicle policies: The use of rental vehicles for business also presents exposure to risk. It may be beneficial to establish a relationship with a particular rental vehicle agency to determine which vehicles best suit the needs of your business and employees while traveling. You should also give your employees guidelines on which rental vehicle insurance coverages to accept during the rental process.

Obtaining Appropriate Liability Insurance

Additional coverage may be needed if any potential risks from personal auto use threaten your business. A standard Business Auto Policy (BAP) will protect your business from any additional liability after an employee’s PAP has paid for damages related to personal auto use.

Although employees who have personal vehicles should be required to have PAPs, obtaining liability insurance should be a priority to protect your business. In the event of a serious accident, your employees’ PAP coverage may not be adequate to pay for all the damages. Be sure to prepare a list of vehicles that may be used by employees and the type of business they may be used for, and contact Chalmers Insurance Group 800-360-3000 in order to discuss your coverage options.

Pet Insurance Coverage Basics and Costs

Part of the series provided by Chalmers Insurance Group

Unfortunately, just like humans, pets can have medical problems that may yield expensive veterinary bills. Fortunately, pet insurance is available to combat those risks.

What is Pet Insurance?

Most pet owners consider their animals to be members of their family; therefore, their pet’s quality of life and health is extremely important. By purchasing pet insurance, pet owners are not burdened with veterinary bills and can focus on making sure their pets get and stay healthy.

Coverage Basics

Here are the details of a typical pet insurance policy:

  • Policies allow the pet owner to select a coverage percentage or monthly premium that will work best for them.
  • Pets must have an annual exam and owners must adhere to the recommendations of their veterinarians to remain covered.
  • Coverage is not extended to existing conditions and injuries.
  • Policy covers expenses relating to the following:
    • Some vaccinations
    • Lab work
    • Accidents, injuries and illnesses
    • Prescriptions
    • X-rays
    • Surgeries, including spay/neuter
    • Hospitalization
    • Dental work

Steep Costs

Medical costs for your pets can add up quickly. Here are some of the most common veterinary treatments and typical average costs:

  • Benign skin mass: $1000
  • Torn ACL or cartilage: $2600
  • Tooth extraction: $900

We’re Here to Help

Don’t take the chance of not being able to afford medical care for your furry family members. Call Chalmers Insurance Group today at 800-360-3000 to learn more about all of our insurance solutions.

For an immediate quote and our Strategic Partner Discount, please visit our trusted carrier partner FIGO using this link https://figopetinsurance.com/?p=9H8i8m7z1r5

Cyber Liability Insurance

Part of the series provided by Chalmers Insurance Group

As technology becomes increasingly important for successful business operations, the value of a strong cyber liability insurance policy will only continue to grow. The continued rise in the amount of information stored and transferred electronically has resulted in a remarkable increase in the potential exposures facing businesses. In an age where a stolen laptop or hacked account can instantly compromise the personal data of thousands of customers, or an ill-advised post on a social media site can be read by hundreds in a matter of minutes, protecting yourself from cyber liability is just as important as some of the more traditional exposures businesses account for in their general commercial liability policies.

Why Cyber Liability Insurance?

A traditional business liability policy is extremely unlikely to protect against most cyber exposures. Standard commercial policies are written to insure against injury or physical loss and will do little, if anything, to shield you from electronic damages and the associated costs they may incur. Exposures are vast, ranging from the content you put on your website to stored customer data. Awareness of the potential cyber liabilities your company faces is essential to managing risk through proper coverage.

Possible exposures covered by a typical cyber liability policy may include the following:

  • Data breaches: Increased government regulations have placed more responsibility on companies to protect clients’ personal information. In the event of a breach, notification of the affected parties is now required by law. This will add to costs that will also include security fixes, identity theft protection for the affected and protection from possible legal action. While companies operating online are at a heightened risk, even companies that don’t transmit personal data over the internet, but still store it in electronic form, could be susceptible to breaches through data lost to unauthorized employee access or hardware theft.
  • Intellectual property rights: Your company’s online presence, whether it be through a corporate website, blogs or social media, opens you up to some of the same exposures faced by publishers. This can include libel, copyright or trademark infringement and defamation, among other things.
  • Damages to a third-party system: If an email sent from your server has a virus that crashes the system of a customer, or the software your company distributes fails, resulting in a loss for a third party, you could be held liable for the damages.
  • System failure: A natural disaster, malicious activity or fire could all cause physical damages that could result in data or code loss. While the physical damages to your system hardware would be covered under your existing business liability policy, data or code loss due to the incident would not be.
  • Cyber extortion: Hackers can hijack websites, networks and stored data, denying access to you or your customers. They often demand money to restore your systems to working order. This can cause a temporary loss of revenue plus generate costs associated with paying the hacker’s demands or rebuilding if damage is done.
  • Business interruption: If your primary business operations require the use of computer systems, a disaster that cripples your ability to transmit data could cause you, or a third party that depends on your services, to lose potential revenue. From a server failure to a data breach, such an incident can affect your day-to-day operations. Time and resources that normally would have gone elsewhere will need to be directed towards the problem, which could result in further losses. This is especially important as denial of service attacks by hackers have been on the rise. Such attacks block access to certain websites by either rerouting traffic to a different site or overloading an organizations server.

Cyber liability insurance is specifically designed to address the risks that come with using modern technology; risks that other types of business liability coverage simply won’t. The level of coverage your business needs is based on your individual operations and can vary depending on your range of exposure. It is important to work with an agent who can identify your areas of risk so a policy can be tailored to fit your unique situation.

As reliance on technology continues to increase, new exposures continue to emerge. As your business grows, make sure your cyber liability coverage grows with it. Chalmers Insurance Group is here to help you analyze your needs and make the right coverage decisions to protect your operations from unnecessary risk 800-360-3000.

All About Automobile Policy Coverage

Part of the series provided by Chalmers Insurance Group

An automobile insurance policy is designed to provide you with a level of protection against property, liability and medical costs if you are involved in a wreck:

  • Property coverage pays for damage to or theft of your car.
  • Liability coverage pays for your legal responsibility to others for bodily injury or property damage. Most other states require car owners to purchase a minimum of bodily injury and property damage liability insurance.
  • Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.

Comprehensive and Collision Coverage

Collision: Covers damage to your car when your car hits, or is hit by, another vehicle or other object. This coverage is not required by a state, but if you have a loan or a lease, then the lien holder will require it.

Comprehensive: Covers your vehicle, and sometimes other vehicles you may be driving, for losses resulting from incidents other than collision. This coverage is not required, but a lender may insist that you carry it until your loan is paid off.

Types of Liability Coverage

Bodily injury liability (BI): This covers injuries that you, the designated driver or policyholder cause to someone else. It does NOT cover the cost of damage to your vehicle, or to you or other people on your policy. It is mandatory in most states.

Property damage liability (PD): Covers you or someone driving the car with your permission if the car damages someone else’s property. It also provides you with legal defense if another party files a lawsuit against you.

Medical payments (MP) or personal injury protection (PIP): This no-fault coverage provides medical expenses to you and your passengers injured in an accident.

Uninsured and underinsured motorist coverage (UM or UIM):  This coverage will reimburse you if of you are hit by an uninsured or hit-and-run driver or when an at-fault driver has insufficient insurance to pay for your total loss.

Top Ways to Save on Your Auto Premium:

  • Consider raising your deductible.
  • Keep up your good driving record.
  • Drive a car with safety features such as anti-lock brakes and airbags.
  • Install an anti-theft device.
  • Ask about our multi-policy discounts.

We’re Here to Help

Did you know that you need specific coverage when vehicles are used for business use? Or that ride-share and taxi services are usually excluded under personal insurance? Call Chalmers Insurance Group today at 800-360-3000 to learn more about all of our automobile insurance and risk management solutions.

Shirley and Richard Van Dyne are White Mountains Treasures

Shirley and Richard Van Dyne are described as mainstays of Memorial Hospital’s entrance for 10 years – and that’s just the beginning. The list of Shirley & Richard Van Dyne’s combined service is extensive, and includes (but is probably not limited to) helping with Tin Mountain Conservation Center, North Conway Community Center, MWV Mud Bowl, Volvo Tennis Tournament, RSVP of Carroll County, The Salvation Army, Boy Scouts of America, John Fuller School reading programs, Madison Elementary School, the Albany Historical Society, Girl Scouts of America, Meals on Wheels, blood drives with the American Red Cross, the Albany Civic Group, and Memorial Hospital.

Shirley and Richard Van Dyne, center, receive the White Mountains Treasure Award from Lee Myles, Interim CEO, Memorial Hospital and Kathy Bennett, VP Community Relations.

The Van Dyne’s have logged in over 2500 hours of service to Memorial Hospital alone over these last ten years, and their service to the community through the aforementioned organizations spans more than 50 years.

Floyd Corson is a White Mountains Treasure

Floyd Corson can be found every Sunday playing the organ at the First Church of Christ. He began his volunteering experience by stepping in to cover the organ for a single Christmas season, and instead remained the volunteer organist for the last 19 years. As an accomplished organist and pianist, Floyd has brought outstanding musical performances for anyone present at church on Sundays.

In addition to his Sunday services, Floyd was the pioneer of the White Mountain Musical Arts and the Bach Festival, which celebrated its 30th year this past summer. Floyd is highly regarded amongst his peers and the main reason the Mt. Washington Valley has been fortunate enough to host so many talented musicians of his field for such little money is a result of their respect for him.

Floyd Corson, center, receives the White Mountains Treasure Award from Lee Myles, Interim CEO, Memorial Hospital and Kathy Bennett, VP Community Relations.

He’s also an accomplished hiker, who’s summited all of New Hampshire’s 4000 footers, and this passion has moved him to volunteer at the Mount Washington Observatory.

For more information on the Chamber’s Annual Meeting!