After putting considerable time and effort into building a business, you don’t want to risk it falling into the hands of someone who may not care for it. A buy-sell agreement is a contract among business owners that, upon the death of one of the owners, requires the remaining owners or the company itself to...
As the modern workforce continues to embrace flexible work arrangements, employees’ needs are varying at an accelerated rate. For instance, remote employees are likely to value different benefits than their in-office or hybrid colleagues, or at least value them to different degrees. According to the MetLife 2022 Open Enrollment survey, the top five benefits that...
Business insurance – also referred to as commercial insurance or business owner’s policy (BOP) – provides companies financial protection from unfortunate scenarios that could have otherwise cost them several thousands, if not millions in income, which would make it difficult for many of them to recover. In this part of our client education series, Insurance Business explains...
Winter weather poses a number of safety risks, particularly for employees who spend a lot of time working outdoors. Prolonged time in the cold may result in serious ailments or even death. Injuries and illnesses associated with exposure to extreme cold include: Frostbite—This condition occurs when the skin is exposed to cold or windy weather...
When an employee is injured or becomes ill while on the job, it’s critical for a business to report the incident as soon as possible. The fact is, an employer’s failure to file a workers’ compensation claim in a timely manner can substantially increase costs to the business, as well as create ill will among...
Design on a Dime, Property Brothers, Man Cave, This Old House, Flip or Flop — These popular TV shows draw millions of viewers with stories featuring renovations of run-down or dated homes. Television producers don’t tell you that the contractor and property owner all face risks in the renovation process — risks that are distinct from...
The insurance industry is experiencing a hardening market right now. That means the market cycle is on an upswing, premiums are increasing, and carriers’ capacity for most types of risk is decreasing. While there are various opinions about what a hard market looks like in comparison to a soft market, its underlying causes and repercussions are universally agreed upon. The...
Open enrollment season—the annual period when you enroll in a health insurance plan—is now in full swing. For employer-sponsored plans, you should expect your employer to provide information about open enrollment during this time. There are several things you may want to consider when selecting a health insurance plan and this article covers some common...
Although more than three-quarters of hiring organizations said improving safety culture alignment among their contractors is the most effective approach for driving down serious injuries and fatalities in the workplace, but only around 20% of organizations believe they have achieved a sustained safety culture, according to a survey by ISN Software Corp. In order to move...
Deloitte Insights’ 2023 Insurance Outlook offers a sweeping overview of the issues the Deloitte Center for Financial Services deems most likely to reshape the insurance industry over the coming year — including challenges it’s already facing, threats still looming over the horizon and, happily, areas of potential opportunity and growth. Intended to provide guidance to senior-level decision...