Business
November 8, 2022
New Tactics to Watch in Workers’ Comp Fraud Investigations
Workers’ compensation fraud takes three main forms — claim fraud, premium fraud and provider fraud — and the effects on honest employers and employees can be devastating. New analysis from the Coalition Against Insurance Fraud found the combined fraud burden for the workers’ comp line weighs in at $32 billion per year. Luckily, new investigation efforts based...
November 3, 2022
Well-Prepared Leaders Embrace Risk
Well-prepared leaders embrace risk and make better decisions during times of economic uncertainty, according to a new study by Aon. Aon’s 2022 Executive Risk Survey, Making Better Decisions in Uncertain Times, was compiled from more than 800 interviews with C-suite and senior executives from companies with 500 or more employees. Respondents were asked questions about what...
November 2, 2022
Last-minute Open Enrollment Considerations
As open enrollment periods approach for 2023 benefits, there’s still time to address employees’ questions and inform them of their options in meaningful ways. Doing so will help them get the most from their benefits, which are especially valuable as employees navigate record-high inflation and work to maximize every hard-earned dollar. This article outlines a...
October 31, 2022
Duties in the Event of a Commercial Property Loss
Most people understand that insurance companies have a duty to reimburse insureds for commercial property damage not excluded by their policies. What’s lesser known is that if a loss does occur, insureds also have duties they owe to their insurance company. Many commercial property insurance policies include language detailing steps that must be taken following...
October 28, 2022
Preventing Slips, Trips and Falls During Winter
As temperatures begin to drop, walkways can quickly become hazardous due to snow and ice. Winter slips and falls at businesses are common sources of injuries for visitors and employees alike. As an employer, it’s crucial to maintain the safety of your property and keep your employees and visitors safe. Whether you take care of...
October 26, 2022
Minimizing Caught-in or -between Hazards
Caught-in or -between hazards may cause injuries if a person is squeezed, caught, crushed, pinched or compressed between two or more objects, or between parts of an object. Such accidents can occur in any industry. Common workplace conditions that can lead to caught-in or-between hazards include: Working with unguarded moving parts Working in unprotected excavations...
October 11, 2022
5 loss prevention methods for construction clients
Tools and equipment used on construction sites are often subject to theft and vandalism — creating project delays and impacting costs. Over time, multiple claims may also increase insurance premiums. While not every loss can be prevented, there are improved methods for safeguarding construction equipment that go beyond fences and standard locks. When creating a...
October 3, 2022
Inflation Rising. How Workers’ Comp Premiums Will Fare
Runaway inflation has become the economic drumbeat that keeps getting louder as election midterms approach in November, but in the workers’ compensation sector, executives see an improved picture on the horizon for both medical and wage inflation — despite the multi-decade high in the consumer price index straining families’ wallets and patience. As employers ratchet...
September 12, 2022
Small businesses are at risk for cyberattacks. Here’s how to address them.
Small businesses are often prime targets for cybercriminals because of the sensitive information stored in their databases. They also commonly lack proactive measures to fight against cyberattacks. According to the Small Business Administration, 88% of small business owners feel their company is not prepared for a cyberattack. Cyberattacks can shut down businesses for more than 24 hours and can...
August 29, 2022
Summer safety tips to avoid work injuries
No matter the time of year, when business owners think about the common risks involved with owning a business, the safety of their employees should always be top of mind. However, the summertime can bring unique hazards, with its soaring temperatures, busy travel times and potential for strong storms. In the summer, it’s important that employers take...