Blog
June 3, 2022
Commercial P&C Price Increases Moderated in Q1 2022
Commercial insurance premiums rose for the 18th straight quarter to start the year. However, the increases moderated compared to the final few months of 2021, according to The Council of Insurance Agents & Brokers’ (CIAB) Commercial Property/Casualty Market Index. “Consensus among respondents in Q1 2022 was that, while premium prices increased, there were signs that...
June 1, 2022
5 Workers’ Comp Risks to Monitor and Mitigate All Summer Long
With each new season arrives new workers’ comp risks and summer is no exception. Though employees and employers alike may be excited for the warmer weather, it’s imperative that everyone is prepared to work safely as thermometers perk up. Increased heat risks, summer storms and acquainting seasonal workers with the risks of the job are...
May 31, 2022
How Technology is Helping Lower Risks in Construction
Construction projects are becoming more complex, while the timeframes to complete them are shortening. On top of these challenges, supply chain troubles and labor shortages are raising the potential risks for builders, insurance industry sources tell PropertyCasualty360.com. “Each of these factors can increase business expenses and insurance rates, which underscores why it’s more important than ever for...
May 27, 2022
How Office Landlords Digitally Protect Their Tenants
The phrase “secure building” may evoke an image of a looming windowless fortress, defended by an armada of steely-eyed security guards and a tapestry of barbed-wire fencing. But most office buildings don’t share that kind of dramatic appeal. In this digital era, security for many buildings comes in the form of protection against hackers. Previously,...
May 25, 2022
Construction Costs Outpacing Property Rate, Limit Increases
Property insurers are not raising coverage limits and rates to keep pace with inflating construction costs, according to a Moody’s Investors Service report. Rising costs for construction materials and labor means elevated loss severity for insurers because repair and replacement work are more expensive. “Higher costs for construction materials and labor have caused elevated loss...
May 18, 2022
Why Are US Commercial Insurance Rates Continuing to Climb?
A new report from the American Property Casualty Insurance Association (APCIA) has looked into the impact of inflationary pressures on commercial lines insurance in the US and identified three main drivers of commercial insurance rate increases. “Insurers and agents continue to look for ways to reduce costs while still meeting all obligations to policyholders, but as claims...
May 17, 2022
How to Learn from Accidents in the Workplace
Workplace accidents are serious and frequently result in severe injuries – even death. As a business owner, you’d like to believe it couldn’t happen to you, but that isn’t always the case. Regardless of the stringent safety protocols, you have in place – never say never. How these incidents occur and the seriousness of an...
May 4, 2022
New Hires May Drive Work Comp Claim Frequency
A new report by Travelers says workers with less than a year’s time on the job filed 35 percent of all workers’ compensation claims, a troubling statistic considering that employers are in the midst of an historic hiring spree. Rich Ives, vice president of business insurance for The Travelers Companies, said there hasn’t been an...
April 28, 2022
A Diverse Workforce Needs Diverse Employee Benefits
Employee benefits play a key role in helping organizations attract and retain employees. But not all benefits are valued equally by all employees. As the U.S. workforce becomes more diverse in terms of racial and ethnic background, native language, age, gender, sexual orientation, religion, health, work location and more, employers need to respond by offering a...
April 27, 2022
Best Practices for Hauling Heavy Construction Equipment
Hauling heavy equipment between job sites is a common task in the construction industry. Yet, when this equipment is not properly secured, serious accidents can occur during transportation, potentially resulting in destroyed equipment, damaged vehicles, traffic fines and injuries (or even fatalities) among employees or other motorists on the road. Considering these consequences, it’s critical...