June 20, 2023
4 Ways to Make the Workplace Physically and Emotionally Safer
Most employees would not list working as a top source of enjoyment, but don’t make it worse than it needs to be. A toxic workplace was the top reason given by employees who resign from their jobs, according to a recent report from FlexJobs. And while the causes for that are often a lack of work-life...
June 19, 2023
Artificial Intelligence and its Impact on Workers’ Compensation
Recent years have seen artificial intelligence (AI) surge in popularity. Such technology encompasses machines, computer systems and other devices that can simulate human intelligence processes. In other words, this technology can perform a variety of cognitive functions typically associated with the human mind, such as observing, learning, reasoning, interacting with its surroundings, problem-solving and engaging...
June 15, 2023
The Impact of Forest Fire Smoke on Building Materials and Electronic Equipment
Forest fires are a natural phenomenon that occurs in many parts of the world. In recent years, however, forest fires have become more frequent and more severe due to climate change. Canadian forest fires are currently affecting states in the U.S. As of June 8 2023, cities including Washington, D.C., Philadelphia, New York, Baltimore, Buffalo,...
June 14, 2023
May Inflation Drops to 4% Year-over-Year Increase, Signaling Inflation May Be Cooling
The U.S. Bureau of Labor Statistics (BLS) reported that the consumer price index (CPI) rose 4% year over year in May, a significant decline from 4.9% in April. This is the lowest annual pace since 2021 and slightly below economists’ expectations of a 4.1% increase, according to Refinitiv, global provider of financial market data and...
June 13, 2023
Construction Industry’s Rebound Brings More Opportunities, But Also More Risks
The construction industry is rebounding after significant challenges during the pandemic, but more opportunities also come with more risks, an insurer has warned. Selective Insurance, a commercial business insurance carrier specializing in construction firms, has forecasted that more single-trade contractors will expand their business into multiple trades or general contracting to cope with growing demand...
June 8, 2023
Ongoing Wildfires Impact Health of Millions in U.S.
Wildfires in Canada continue to create poor air quality conditions throughout the United States. As of June 7, 2023, air quality advisories are in effect for nearly 110 million Americans in parts of 18 states from New Hampshire to South Carolina. The air quality is currently considered “unhealthy” for millions of Americans, and as a...
June 7, 2023
Hard Market Conditions Intensify in Commercial Property
Hard market conditions of rate hikes coupled with tightening terms have intensified for June 1 renewals in commercial property, as carriers prevail in a “seller’s market” where new capacity remains scarce, sources told this publication. Even clean accounts in the admitted space are seeing rate increases of 15% year on year, while loss-hit accounts in...
June 5, 2023
12 Tips to Promote Workplace Safety and Prevent Employee Injuries
Workplaces have gotten safer for employees over the years. However, accidents can still happen. When they do, they cost businesses thousands of dollars in medical expenses, undermine productivity and employee morale, and increase employee absenteeism. To help prevent the risks of workplace injuries, businesses can follow these 12 tips: 1) Create a Comprehensive Workplace Safety...
June 2, 2023
Is My Computer Setup Ergonomically Correct?
Whether we are back at the office or working from home, we often slip into bad office posture habits when it comes to how we work at our computers. The Mayo Clinic offers advice on how to set the proper positioning when using a computer in order to up y avoid some of the health...
May 31, 2023
Contractual Risk Transfer Explained
Contractual risk transfer (CRT) is a risk management mechanism that can be utilized by many businesses. It involves shifting potential liability through a non-insurance contract or agreement and is intended to transfer risk to the party (e.g., vendor, supplier, subcontractor) that is better situated to control it. While insurance is the most common method to...