Blog

June 18, 2024

Commercial Property Insurance Market Proving More Stable, Capitalized: USI

Following last year’s historically challenging property insurance market, 2024 is proving to be “a more stable and capitalized market,” USI Insurance Services reported in its latest Commercial Property & Casualty Market Outlook Mid-Year Addendum. “Large rate increases from 2023 have mostly subsided for the broader market,” the New York-based insurance brokerage firm said in the report....

June 17, 2024

50% of Non-Native English Speakers Don’t Understand Their Safety Training

Companies may think they have workplace safety resources covered, but they may not have taken into consideration one very important detail: Whether their workforce can understand them.   One-hundred percent of industrial workers say that safety training is essential for fostering a safe workplace, according to the Vector Solutions State of Industrial Worker Safety and Well-Being Report....

June 13, 2024

U.S. Job Growth Expected to Spike Workers’ Comp Claims

Employers will likely face an increase in workers’ compensation claims in light of the U.S. Labor Department’s May 2024 report indicating the country added 272,000 new jobs. “New employees not only equal more workers’ comp premiums, they are significantly more likely to incur a claim,” Joe Paduda, owner of Health Strategy Associates, said in an interview with PropertyCasualty360.com. “Jobs in health care and...

June 12, 2024

The Value of D&O Insurance for Private Companies

With today’s growing emphasis on corporate transparency and accountability, an organization’s directors and officers may face a range of liability exposures. For instance, stakeholders and third parties may hold a company’s board members responsible for damages resulting from their alleged mistakes or poor decisions, prompting legal action. Regardless of an organization’s size or mission, the...

June 10, 2024

Over 80% of Employers Will Add or Improve Benefits in the Next Year

A new report by health care benefits company Lively found that 81% of organizations plan to add or improve employee benefits in the next year to better recruit and retain employees. Furthermore, the report showed that employee experience, feedback and ease of use matter the most when benefits leaders decide to select or renew with...

June 5, 2024

U.S. Employees Prioritize Stability Amid Economic Uncertainty

Amid a tumultuous economic and geopolitical landscape, U.S. employees are increasingly seeking stability from their employers, according to the 2024 Global Benefits Attitudes Survey by WTW. The survey found a significant shift in employee preferences, with 72% now choosing to stay in their current jobs, reversing the trend of high turnover seen in recent years....

May 30, 2024

Cyber, Financial and Labor Top the List of Risks in Commercial Construction

Commercial general contractors and construction managers face a number of risks that keep them up at night. In the 2024 Commercial Construction Risk Report, we surveyed 500 U.S. general contractors and construction managers to identify the key risks threatening their project timelines, operating budgets and safety. Several themes emerged: Least prepared for the top risks. The...

May 28, 2024

Survey Reveals Small Business Safety Concerns, Unusual Claims

Understanding workplace safety risks and being properly prepared can help protect businesses and employees from a wide range of potential workplace hazards, including spiders and robots. Pie Insurance Services Inc. recently surveyed 1,034 small business owners, those with less than 500 employees, to uncover insights into top safety concerns, how prepared businesses are for summer...

May 22, 2024

Avoiding Contractor Fraud in the Wake of a Disaster

There were 28 separate billion-dollar climate catastrophes in the United States in 2023, and 2024 is already shaping up to be an active year for severe weather. In the wake of these events, those affected are left vulnerable to shady contractors as they recover and rebuild their lives. To combat this growing problem, the National Insurance Crime Bureau (NICB) educates consumers on...

May 17, 2024

Is Your Pool Ready for a Workers’ Compensation Catastrophe?

Catastrophic work injuries occur every day to many employers of all sizes and occupations. Regardless of the size or type of membership served, every pool faces this exposure. These life-changing claims are complex, individualistic, and require much higher standards of coordination and communication. Not having a plan in place to respond to a catastrophic injury...