Important Role of Surety Bonds Within the Construction Industry Construction companies face significant risks, especially when they perform work on projects spanning several years. Issues like economic downturns, inflationary pressures, material shortages, equipment breakdowns, and others can threaten the ability of contractors to perform under their contracts. When these types of problems are insurmountable, construction...
On April 12, 2022, OSHA launched its National Emphasis Program (NEP) for protecting workers from heat hazards in indoor and outdoor workplaces. Through the program, OSHA will conduct heat-related workplace inspections before workers suffer preventable injuries, illnesses or fatalities. The NEP is effective on April 8, 2022, and will remain in effect for three years...
With health care costs continuing to rise, today’s consumers need to make smarter health care decisions to ensure they receive the care they need at a price they can afford. Unfortunately, most American consumers lack an understanding of health care, their own health plans, and how to effectively “shop” for health care coverage and services....
This article was produced in partnership with Tokio Marine HCC-Cyber & Professional Lines Group (CPLG) Karen Surca, of Insurance Business America, sat down with David Wiley, Senior Underwriter with Tokio Marine HCC-Cyber & Professional Lines Group, and Jim Bechter, Senior Vice President for architects & engineers/contractors professional liability (AE/CP), to discuss the need for sufficient liability coverage...
In looking at near- and medium-term factors that will continue to affect the commercial property insurance markets in the year ahead, it is a certainty that insurers, brokers and customers will continue to experience the effects of inflation combined with more costly natural catastrophes. While there is not universal agreement about whether the tempo of...
Commercial property rates have seen double-digit increases for two straight years and Gary Wells, managing partner at The Liberty Company Insurance Brokers, does not foresee a notable drop any time soon. The 2022 outlook for this segment is still quite uncertain as severe weather events continue to present challenges for carriers, brokers, and clients. “We...
Employer benefits have a long and evolving history in the United States, with broader societal changes continually driving new advances in how companies take care of their workforce. In the 1920s, the federal government incentivized corporate retirement plans by making employer contributions tax-deductible, and in the following decades this benefit became a top negotiation item for increasingly...
Heating, ventilation and air conditioning (HVAC) contractors install, maintain and repair heating and cooling systems in residential and commercial structures. They work with appliances, water heaters, toilets and sprinkler systems in new buildings and existing structures. Due to the wide variety of tasks these contractors perform, they may need specialized coverage to protect against liabilities....
Spring can bring about some of the year’s most dangerous weather and wreak havoc on many aspects of a company’s operations. This article discusses the weather threats to watch out for during spring and measures businesses can take to minimize damage. Dangerous Spring Weather Unexpected severe weather increases the risk of property damage, injury and...
If one thing is certain, it’s that our world has changed irreparably over the last two years. The COVID-19 pandemic touched our lives in nearly every way. It changed how we live, how we work, how we hang out with friends and visit family. And many of those changes are poised to last well beyond...