October 11, 2022
5 loss prevention methods for construction clients
Tools and equipment used on construction sites are often subject to theft and vandalism — creating project delays and impacting costs. Over time, multiple claims may also increase insurance premiums. While not every loss can be prevented, there are improved methods for safeguarding construction equipment that go beyond fences and standard locks. When creating a...
October 3, 2022
Inflation Rising. How Workers’ Comp Premiums Will Fare
Runaway inflation has become the economic drumbeat that keeps getting louder as election midterms approach in November, but in the workers’ compensation sector, executives see an improved picture on the horizon for both medical and wage inflation — despite the multi-decade high in the consumer price index straining families’ wallets and patience. As employers ratchet...
September 12, 2022
Small businesses are at risk for cyberattacks. Here’s how to address them.
Small businesses are often prime targets for cybercriminals because of the sensitive information stored in their databases. They also commonly lack proactive measures to fight against cyberattacks. According to the Small Business Administration, 88% of small business owners feel their company is not prepared for a cyberattack. Cyberattacks can shut down businesses for more than 24 hours and can...
August 29, 2022
Summer safety tips to avoid work injuries
No matter the time of year, when business owners think about the common risks involved with owning a business, the safety of their employees should always be top of mind. However, the summertime can bring unique hazards, with its soaring temperatures, busy travel times and potential for strong storms. In the summer, it’s important that employers take...
What are the top five risks businesses should be prepared for?
National Preparedness Month, recognized every September, serves as an annual reminder for businesses to ensure they’re ready for any kind of disruptive event. Whether it’s fires, floods, cyberattacks or inflation, companies of any size stand to lose greatly if they’re not prepared for the risks that threaten their businesses. “The reality is that businesses are...
August 22, 2022
Mitigating risk & reducing employee claims for commercial clients
According to Dun & Bradstreet, in Q2 2022, the Global Business Impact (GBI) score increased to 315, up from 297 in Q1 2022. The GBI ranks the biggest threats to business based on each risk scenario’s potential impact on companies, assigning a score to each risk. As businesses continue to acknowledge the rising risk landscape, it is...
How to manage risk around massive data growth
One of the most prominent challenges facing global businesses today surrounds the deluge of massive data growth and the risk it presents to companies as the management issues of this data take shape. This risk comes in several major forms, including the legal/regulatory exposure from investigations and litigation, ongoing cybersecurity vulnerabilities and unsustainable increased spend on its...
August 15, 2022
Could changes be coming for the workers’ comp space?
It’s been quite a couple of years for the insurance industry, with the impacts of COVID-19, inflation, and fundamental changes to the labor market taking their toll. Despite all this, however, the workers’ compensation system is booming – it remains one of the most profitable segments of the US property and casualty insurance industry. According...
August 11, 2022
Rethinking Cyber Risk Assessment Models
Most businesses are grappling with rapidly rising cyber risk, and rapidly increasing cyber insurance claims have caused premiums to surge. According to a report by Fitch Ratings, the number of cyber claims increased by 100% over the past three years, with prices up 130% in the US and 92% in the UK. This rate of...
August 3, 2022
Why is Summer an Increased Time for Restaurant Injuries?
For most teenagers and young adults, summertime means a break from the books and long hours of studying. However, it doesn’t necessarily mean it’s time to kick back and relax during those long, hot days. In fact, according to the Bureau of Labor Statistics (BLS), between April and July 2021, the number of employed youth...