COVID-19, low interest rates and higher claim severity due in part to an aging workforce are among the factors that have reversed a years’ long trend of flat or lower renewals for workers compensation coverage, experts say. “In the rate environment we are starting to see it tick up from a flat renewal to the...
As the world heads into another uncertain few months, risk managers are expecting a challenging time at their upcoming insurance and reinsurance renewals. Many are considering expanding the use of existing captives or setting up new ones to mitigate the effects of a changing insurance market, as well as their own shifting risk profiles. Even before the...
While there has been a lot of positive news recently about the COVID vaccines, there are varying reports on the public’s concern and willingness to take it. That hesitation, along with vaccine access, will determine how quickly life returns to normal. We will need more than 70% of the population vaccinated to get back to a pre-pandemic society, and...
2020 is almost over. As many of us emit a sigh of relief, it’s time to reflect on what the year has brought us. COVID-19 and a worldwide pandemic have been at the top of the list for sure, but what has happened with commercial real estate trends? Let’s take a look. Commercial real estate trends...
Winter weather—such as frigid temperatures, icy conditions and snowfall—can create a wide range of challenges at the construction site. Specifically, it can become more difficult to ensure employees’ safety in such weather. After all, working on icy surfaces can increase the likelihood of slips and trips taking place, while exposure to cold temperatures can lead...
Not only is workers’ compensation coverage required in most states, but it also plays a major role in connecting injured employees to the care they need to return to work as quickly and safely as possible. That’s why it’s crucial for your organization to develop an effective workers’ compensation program. To ensure a successful program,...
The economic distress caused by the coronavirus pandemic has largely spared the property management industry, but the safety issues the disease presents have placed a heavy burden on its workers. Property management companies haven’t experienced any major layoffs, but the average workload for employees in every part of the business has risen significantly, multiple sources told Bisnow. From...
The COVID-19 pandemic has been with us for over nine months now, with no end in sight. During this time, we conducted several Out Front Ideas COVID-19 Briefing webinars and The Path Forward virtual conference. These educational events were designed to provide risk managers and others in the industry with a better understanding of how COVID-19 was...
Slips and falls are common occurrences that can lead to injury and even death, especially for older adults. The Centers for Disease Control and Prevention (CDC) reports falls are the No. 1 cause of injury and death for those 65 and older. Each year a reported 29 million falls represent: 3 million trips to the...
When unforeseen events cause lengthy building closures, sparse occupancy, or extended staff absences, the risks to the property can increase. An unattended building is more vulnerable to incidents such as freezing pipes, sprinkler malfunctions, fires, or break-ins. And with fewer people available to monitor the property and do regular maintenance, the dangers to people who...