June 30, 2022
Business Owners: Consider These Steps to Ward Off Wildfire Damage
The record heat in 2021 was damaging, particularly in the West and Pacific Northwest. As droughts became more frequent, it increased the likelihood and severity of wildfires, putting property at risk of extensive damage. While it was clear wildfires could cause significant losses, the wildfire season seemed to be getting longer. In fact, in December...
June 28, 2022
Builder’s Risk – Construction Projects Rush to Plug Cover Gap
Supply chain challenges and inflationary pressures have left contractors and developers with soaring insurance costs amid a scramble to extend cover for delayed projects. The cost of some materials has surged since the onset of the coronavirus pandemic, while an underwriting expert told Insurance Business that supply chain delays have meant policyholders may require an extension of...
June 21, 2022
The Importance of Surety Bonds for the Concrete Contractor
Placing concrete requires specialized skills and equipment. The licensing requirements for concrete contractors vary from state to state. In some states, concrete contractors need a specific license for working with concrete. In others, licensing for concrete contractors is included in the general contractor’s license. To obtain a contractor’s or concrete license, you must meet multiple...
June 17, 2022
Combating Rising Benefits Costs During Periods of High Inflation
The U.S. inflation rate has increased by 8.3% over the last year, according to the Bureau of Labor Statistics (BLS). This has led to significant price increases across various consumer goods as well as employee benefits such as health insurance. In fact, one-third of U.S. employees have already seen an increase in their health costs...
June 15, 2022
The Shifting Workplace – The New Must-Have Amenity Spaces
The pandemic has brought on a new set of unexpected challenges for the Commercial Real Estate Industry. As many employers are urging their staff to head back to the office, they are being met with hesitancy, some reluctancy, and in the worst-case scenario, resignations. The pandemic has re-aligned workplace culture, and employee values, and has...
June 9, 2022
Cyberthreats 2022: What We Know So Far
The key to any robust cyber defense strategy involves two things: insight into your own vulnerabilities and insight into evolving adversarial tactics — only then can you truly build defenses that align with evolving enemy strategies. A report by Kroll, a U.S. provider of technology and insights related to risk and governance, claims the threat environment...
June 7, 2022
Do Nonprofits Need Liability Insurance?
The answer to the question about whether nonprofits need liability insurance is more than a simple “yes” or “no.” When a group or individual considers purchasing any type of insurance policy, it’s important to think about the reason they need it, and the potential for them to cause harm to someone else, either intentionally or...
June 3, 2022
Commercial P&C Price Increases Moderated in Q1 2022
Commercial insurance premiums rose for the 18th straight quarter to start the year. However, the increases moderated compared to the final few months of 2021, according to The Council of Insurance Agents & Brokers’ (CIAB) Commercial Property/Casualty Market Index. “Consensus among respondents in Q1 2022 was that, while premium prices increased, there were signs that...
June 1, 2022
5 Workers’ Comp Risks to Monitor and Mitigate All Summer Long
With each new season arrives new workers’ comp risks and summer is no exception. Though employees and employers alike may be excited for the warmer weather, it’s imperative that everyone is prepared to work safely as thermometers perk up. Increased heat risks, summer storms and acquainting seasonal workers with the risks of the job are...
May 31, 2022
How Technology is Helping Lower Risks in Construction
Construction projects are becoming more complex, while the timeframes to complete them are shortening. On top of these challenges, supply chain troubles and labor shortages are raising the potential risks for builders, insurance industry sources tell PropertyCasualty360.com. “Each of these factors can increase business expenses and insurance rates, which underscores why it’s more important than ever for...