Blog
October 24, 2023
Understanding Protective Safeguards Endorsements (PSEs)
When it comes to property insurance, it’s not just about securing a policy; it’s about fully understanding its nuances to ensure you have the highest level of protection for all your assets. In some cases, misunderstanding the details of your property coverage can mean the difference between safeguarding your investments and costly oversights. One often...
October 23, 2023
Report Shows Top Priorities and Challenges for 2024 Open Enrollment
New research from digital media company Arizent revealed employee benefits leaders’ biggest challenges and strategies for increasing benefits utilization. These findings can help shape employers’ 2024 open enrollment plans. While employers already invest significant time and resources researching and designing their benefits plans, many feel like there is still work to be done to ensure...
October 20, 2023
Which Industry is the Least Confident in Managing Their Risks?
A new report finds that insurance leaders are the least confident among those in the financial sector when queried about managing and overcoming risks and current challenges, with only 36% saying that they are confident in their ability to handle these issues. Global fintech firm FIS recently unveiled the results of its Global Innovation Report, sharing...
October 18, 2023
The Impact of Secondary Perils on Property Insurance
Secondary perils, such as severe convective storms, floods, wildfires and hailstorms, have significantly impacted the commercial property market. In fact, according to industry data, secondary perils have consistently accounted for over 50% of insured natural disaster losses in recent years. This article provides more information on secondary perils, including their impact on the property insurance...
October 16, 2023
NCCI Deconstructs Trends Around High-Cost Workers’ Comp Claims
There’s widespread interest in large claim trends for compelling reasons — they can be devastating for the injured worker and can have significant implications for carrier operations. Workplace injuries that result in large claims — e.g., exceeding $1 million in claim costs — form a small share of all lost-time claims, less than 0.5%. But they...
October 11, 2023
Insurance Innovation Necessary Amid New Digital Risks
In its latest sigma study, Swiss Re Institute finds that potential digitalization benefits across countries and throughout the insurance value chain are far from exhausted. According to the reinsurer’s “The economics of digitalization in insurance” sigma report, digitalization is a source of new growth, new risks, and new efficiencies for the insurance industry. Digital value creation has...
October 10, 2023
Getting the Most Out of Your 2024 Open Enrollment Communications
Open enrollment is a crucial period for both employers and employees. It’s when employees can make important decisions about their benefits and an opportunity for employers to engage with their workforce effectively. As organizations continue to adapt to evolving workforce needs and changing regulations in 2024, open enrollment communication becomes more critical than ever. This...
October 9, 2023
Electrical Preventative Maintenance (EPM) Programs Explained
It’s important for businesses to maintain their electrical systems to avoid unexpected downtime, costly repairs and potential safety hazards. That’s where Electrical Preventative Maintenance (EPM) programs come in. By proactively identifying and preventing electrical problems, businesses can minimize risks, increase efficiency and save money in the long run. This article will discuss the benefits of...
October 5, 2023
Upcoming NCCI Experience Modification Changes for 2024
The National Council on Compensation Insurance (NCCI) is making alterations to its experience modification factor for 2024. These changes are slated to go into effect on each state’s regular filing date on or after Nov. 1, 2023. This Work Comp Insights will provide an overview of the NCCI’s changes. Overview of Changes The NCCI governs...
October 4, 2023
Assessing Winter Weather Risks
Understanding their specific winter weather risks plays a vital role in helping businesses make informed decisions and take appropriate actions to protect their employees and property. Doing so also allows businesses to proactively limit potential damage and enhance their overall storm preparedness. Here are steps that businesses can take to assess their winter weather exposures:...