Professional Liability Insurance Group March April 2018

The PLIG Professional’s PULSE

Volume #22

How Training Can Transform Your Business AND YOUR LIFE

What if we told you that by doing one thing consistently, you could transform not only your business, but your life?Well, that’s exactly what training can do for you.Training isn’t just for your employees. By receiving effective training, you gain a layer of accountability, an understanding of best practices, and an increase in performance. Just as the teams in this month’s March Madness have received countless hours of training, so too do the best business owners in the world.Training is key to achieving peak performance, and here are four reasons why. Accountability Training gives you the structure and order you need to succeed in your craft. Regardless of the industry, having a trainer means you also have someone to hold you accountable. A coach prevents you from being your own worst enemy by working on your weaknesses and growing your strengths. Trainers encourage you to grow by raising your self-expectations, which creates another layer of accountability. Internal accountability is what drives success and future growth.Without internal motivation, it is very common for training to fall by the wayside.When you’re looking for your next training resource, look for someone who will instill their values in you so that your training is always relevant. Applying Best Practices Whether it’s a conference, regular coaching, or taking courses, quality training is always on the cutting edge of new and effective ways to grow your business. By learning best practices and making practical applications to your business, you can consistently make progress toward your goals.The key to this is understanding that best practices are constantly evolving because of how dynamic business is as a field.Without current training, you could be using the out-of-date systems and models that cause many businesses to stagnate.This is also why it’s important to use proven resources — they ensure you always get the most up-to-date information. Increased Performance Perhaps the biggest reason that people seek out training is to increase performance.Training is a great resource for boosting your bottom line.The correlation between training and balance-sheet profitability is astronomical. In one recent real estate study done by KellerWilliams Realty, agents who attended two or more trainings in a month boasted commission numbers more than 100 percent greater than the commission numbers of those who

didn’t.This wasn’t an aberration, either, because these are consistent numbers. This is why they use the phrase “success leaves clues,” and those clues always lead back to the same verdict:Training produces results. Performance goes beyond just numbers, though. Many executives or managers attend leadership trainings to grow personally and professionally. This helps increase their performance in ways that go beyond the metrics of a balance sheet. Mindset Training provides a unique opportunity for the trainee to focus on business, not in business. Often, employees and owners get so bogged down in the day-to-day tasks that they aren’t able to take time to focus on the state of their company.Training provides an opportunity for you to detach yourself from the weight of your daily tasks, allowing your mindset to shift from drowning in work to what matters to your business. “In this world, you’re either growing or you’re dying, so get in motion and grow,” says Lou Holtz.That’s what it means to receive training. Personal growth achieved through training will help accelerate your business and your life. If you aren’t growing, your business will fall by the wayside.Take a look at some local resources in your community where you can receive training. If you can’t find anything of value, the internet is full of webinars.Transforming your business and your life starts here. Don’t wait for your business to fall behind.Tap into training resources today. -Shayne


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Business Goals?

The first quarter of 2018 is rapidly coming to an end.What steps have you taken to achieve the goals you’ve set for your business this year? How much progress have you made? Have you already logged a string of successes, or are you struggling?

Were goals miscommunicated? Did changes in your business, your community, or the economy affect your goals? How can you get back on track? If you need to make changes or recalibrate — do it! The longer you wait to adapt to changing circumstances, the longer it will take to find the right course. Even the best-laid plans can be disrupted by unforeseen circumstances. It’s up to you and your team to embrace change. It’s not uncommon for marketing strategies to evolve over the course of a year.You may discover that certain aspects of your referral campaign aren’t working.Trimming the fat isn’t necessarily easy, but taking the time to do so will set you up for better results in the long run. Don’t be afraid to make decisive cuts. If a strategy or a goal simply wasn’t a good fit, say goodbye and revisit it later. For now, take some time to review your Q1 progress.What do you need to do to make Q2 — and the rest of 2018 — a smashing success?

• Not working together as a team to achieve goals

Business owners and entrepreneurs set their sights on a number of goals every year.The problem is that a lot of those goals are left unaccomplished due to flaws in the planning stage. Here are some common goal-setting mistakes.

• Not defining the goals in a way you, and anyone in your organization, can clearly understand

• Setting goals that are too lofty or unrealistic

• Not having a tracking system in place to monitor and review progress

• Not taking the proper steps to see goals through

As you work toward your goals, it’s critical to celebrate the smaller milestones along the way. Recognizing achievements keeps your team energized and motivated. As part of the celebration, discuss what still needs to be done to accomplish big-picture goals. If you find yourself or your team falling short of expectations, use this as a learning opportunity. Evaluate your progress and see if you can identify any roadblocks. Did you give yourself and your team enough resources?

What Our Clients Are Saying

“Excellent service. Shayne and Maria always provide timely and helpful advice.They take the worry out of our insurance needs.” –Carol T. “Responsive, efficient. Shayne Bevilacqua does an outstanding job in responding to our needs.” –Joan G. “I most appreciate the genuine kindness that is extended when providing prompt and knowledgeable service.” –Iris J.

“Accurate, prompt, and responsive. I feel like you know me. I especially appreciate your sending the certificates before I even ask! They go out of their way to advise you on what to do to obtain the best rates and coverage.” –Joseph L. These days, excellent service means everything. That’s why we’ve made it our mission to deliver on that and so much more. If you feel like you’re missing excellent service in your life, give us a call.We’re here for you, your team, and your business.

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Congress Delivers More Relief From Burdensome Taxes We provide informative articles and topics that focus on information for businesses of all types. Recent blogs to check out: • How to Fix 3 Accounting Problems • Cadillac Tax, HIT Tax, Medical Device Tax, and CHIP Extension • Employer Update for the Health Insurance Marketplace Take a look below to see a sneak peak of one of this month’s blog topics! CADILLAC TAX DELAYED AGAIN UNTIL 2022

Children’s Health Insurance Plans (CHIP) The CHIP program helps families with children who are caught between Medicaid and unaffordable private insurance.This much-needed safety net has been funded for the next six years, providing certainty to state CHIP programs and peace of mind for CHIP families. Health Insurance Fee The annual fee levied on health insurance is paid by insurance providers, and it drove up monthly premiums while making health insurance more expensive for everyone.The health insurance fee will not be applicable for 2019. It is set to reappear in 2020. Medical Device Excise Tax The manufacturers of medical devices such as pacemakers also paid an excise tax on their products.This excise tax drives up the cost of medical devices and perhaps hinders development of new products. Again, as with the Cadillac tax and health insurance fee, this 2.3 percent excise tax on medical devices was delayed until 2020, but not eliminated. This article recently appeared on the Professional Liability Insurance Group’s blog. For more great resources and insight from Shayne Bevilacqua, be sure to visit .

Benefits were the real winner in the stopgap government funding bill HR 195. On Jan. 22, 2018, President Trump signed into law a continuing resolution that included major health care priorities, including one in particular that many health care advocates have been working on as one of their top advocacy points. Cadillac Tax The so-called “Cadillac tax” will levy a 40 percent tax on the value of the employer-sponsored insurance that exceeds a certain threshold. Unfortunately, the calculation of the threshold includes employee contributions to health flexible spending accounts (FSAs) and health savings accounts (HSAs). It also hands over the onerous task to employers of calculating overages on a per-employee basis for all benefits offered and then allocating and collecting the taxes from their various benefits providers and administrators. Originally slated to begin operation in 2018, previous legislation delayed this tax until 2020. HR 195 provides relief for an additional two years, delaying implementation of this excise tax until 2022. Professional Liability Insurance Group applauds the delay afforded to employers and employees alike. Nevertheless, despite the four-year respite, advocates continue to lobby for full and permanent repeal of this burdensome and expensive provision — or at the very least, an exclusion from the threshold of employee contributions to health FSAs and HSAs.


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Resolve Your Next Conflict

3 Skills You Need to Conflict resolution is never easy work. One wrong move can trigger the fault lines in an already complicated relationship. On the other hand, nothing good comes of allowing an unresolved problem to fester. Finding common ground is a must, even when it’s difficult or painful.We’ve provided resolution practices for both internal and external affairs so that you can be ready to handle any conflicts that come your way. Seek First to Understand “Good Leaders Ask Great Questions,” a book written by leadership guru John Maxwell, lays out the foundational concepts behind any effective conflict resolution session.Ask questions. If communication is a two-way street, then conflict resolution is a highway.Asking a great question starts the flow of communication.“Why?” is often the easiest and best question to start with. “FiveWhys” by SakichiToyoda is a method that you can use to untangle any issue.According to this principle, you can get to the heart of the matter within five times of asking why. Understanding and articulating the core of your issue will help you create a win-win scenario. Create aWin-Win In a win-win scenario, your conflict is resolved in a way that satisfies all involved parties. Ensure a win-win by taking these steps:

• Acknowledge the issue. • Find common ground. • Understand all sides.

• Attack the issue, not the person. • Develop a mutual plan of action. • Compromise is key

Most conflicts come from emotional wounds, and those wounds need to be healed.The only way to truly find a solution for both parties is to find mutual compromise. If you are coming from a place of understanding and working

toward a win-win, then compromise is a natural stepping stone to conflict resolution. If you aren’t, compromise may just be a way to put a patch on the problem instead of actually solving it. Successful conflict resolution resides in these three ideals, and all of them require emotional intelligence.A certain degree of self-awareness and empathy is the foundation of finding solutions.When these traits are combined with understanding, an effort to find a win-win situation, and willingness to compromise, you’ll find your conflicts resolved in an effective, equitable manner that will maintain relationships for a lifetime.



If you’ve ever been told you won’t succeed because you lack talent, bring a copy of “Grit” to your next meeting. While teaching high school math, author Angela Duckworth noticed some of her highest-achieving students weren’t the ones with the highest IQs, while some of her “smartest” students weren’t doing all that well in class.“Why?” she wondered. She followed her curiosity to Penn State’s psychology program.There, she studied several demographics, including cadets at West Point, young teachers, and sales representatives. After numerous psychological studies, Duckworth discovered that “grit” was the common denominator in successful people. Duckworth defines grit as “passion and perseverance for very long-term goals.” People who display grit don’t start a project and abandon it a month later.They devote themselves to an overarching goal that drives everything they do. She explained that someone who practices grit goes through life like a marathon, not a sprint.

Perhaps most instructive is Duckworth’s equation (she was a math teacher, after all):

extra effort to achieve their goals, and that’s what helps them reach their goals if they don’t have innate talent. While this provides a strong case that those born with grit will succeed, grit doesn’t factor luck and opportunity into the equation, something that Duckworth is transparent about in her book. She says those who aren’t born with grit can develop it in four simple steps. First, identify an interest that can blossom into a passion. Second, practice that passion, a lot. Third, develop the belief that your passion has purpose.While it’s not an overnight transformation, these guidelines can at least give us hope, which is the fourth step: Hold on to hope that you can succeed. Our biggest takeaway from “Grit”? Look at failures as milestones on the journey to success. Getting gritty means failing and learning from it. Any of us can get gritty if we’re willing to put in a little elbow grease.

Talent x effort = skill. Skill x effort = achievement.

“Effort counts twice” could be the battle cry of grit. Gritty people are willing to put in the


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How it works All you have to do is tell a friend, a colleague, or any professional you know about us and make sure they tell us you sent them ... that’s it! Remember, protecting professionals is our specialty! You can refer any commercial business of any size, big or small, such as an accounting or law firm, a physician practice or health care facility, an architecture or engineering firm, or even your local restaurant or dry cleaner. What you win 1. For each referral, we will automatically send you a $10Wawa gift card! 2. Each referral automatically enters you into the quarterly drawing for a $50Visa gift card! 3. Each referral also enters you into the annual drawing for your choice of an iPad Mini or an Amazon Kindle Fire HD. 4. For each referral we receive, we will also donate $20 to a charity * of your choosing. *Charity must be a registered 501(c)(3). Remember, without your referrals and much appreciated testimonials, we would not be where we are today.Your words encourage us to do our best and help other professionals decide to do business with us.You can call 856-692-7702, fax 856-691-0059, or email your referrals and kind words to And, as always, we want to say “Thank you!” for the professional relationship we have with each of you! • Our contest is not in direct relation to any insurance sales.You’ll be rewarded simply for the lead. • You do not have to be present at the drawings to win. • Your referrals do not have to become our client for you to claim your prize. • We are not responsible if the law says you can’t win due to age or any other restriction. Frank and Susan have six children: Donald, Rebecca, Michael, Faye, Solomon, and Lara. Susan is pregnant of her seventh child, a girl. Frank and Susan have chosen a name for her that fits with the other names. BRAIN TEASER • • You don’t have to be a client to receive your freeWawa gift card. There is absolutely no limit to how many times you can enter.

The PLIG P u z z l e Challenge

At the Professional Liability Insurance Group, we know just how bright and intelligent our newsletter readers are, which is why we are happy to challenge you with this puzzle! All you have to do is answer the puzzle challenge correctly, and send your answer to us. Email to info@Protect, fax to 856-691-0059, or call 856-692-7702 to read off your answers.The winner will be selected from a random drawing of all correct responses submitted prior to printing our next newsletter and will win a $20Wawa gift card! Good luck!

Congrats to Dr. Immanuel Lamprou for winning our annual random drawing. He selected an iPad as his prize.

THE QUESTION: What will be the name of the seventh child: Jessica, Karen,Abby orTilly?


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The Secret toYour Business’ Success Keep UpWithYour 2018 Business Goals Hear From Our Clients Check Out New Content on Our Blog!


Congress Delivers More Relief From Burdensome Taxes Conflict Resolution Is More Than Just Compromise DoYou Have the Success Gene? Referral Contest The PLIG Puzzle Challenge A Slice of Life




A SLICE OF LIFE Bridging the Gap Between Digital Calendars and Physical Planners

TheApp Slice Planner’s free iOS/Android app acts as a compliment to your current digital calendar, providing additional features and flexibility. Additional information can be added to an

An innovative new product, the Slice Planner, seeks to meld paper planners with the digital landscape by offering a two-part solution: a beautiful physical planner and an intuitive smartphone app.

The Planner Available in soft and hardcover, the Slice Planner’s Swedish paper is comfortable to write on and works well even with fountain pens. Additionally, one of the most innovative designs Slice Planner offers is utilizing a circular diagram that mimics a clock face over the standard calendar grid.The team behind Slice Planner selected this design because “it takes less effort to focus on what’s going to happen and when it’s going to happen.”

event or shared via email cloud as easily as making a mark on the planner page.The app even double checks your current schedule and alerts you of any conflicts. The Slice Planner has been on the market for nearly a year now, and

early reviews have praised the intuitive program and innovative design. At the very least, those fond of using paper planners will love the quality of the Slice Planner.

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