Business
July 1, 2024
2024 Midyear Market Outlook: Commercial Property Insurance
The commercial property insurance segment has been characterized by ongoing premium increases for much of the past decade. According to industry data, such rate jumps reached record-setting levels in 2023, surging by an average of 20.4% in the first quarter alone and only slightly falling to 18.3% in the latter half of the year. These...
June 27, 2024
Active Assailant Coverage: A Key Provision in Preparing for California’s New Workplace Violence Prevention Law
With more than 650 mass shootings in 2023 and more than 110 this year (at the time of publication), it’s clear that active assailant incidents pose a severe and unpredictable threat to businesses of all types. And while most insureds have not been exposed to an active assailant event, the demand for this coverage is on the rise....
June 26, 2024
Preventing Heat-related Illnesses at Work
During the hot summer months, outdoor employees are increasingly vulnerable to heat-related illnesses. Normally, the body has ways of keeping itself cool by allowing heat to escape through the skin and evaporating sweat. However, if the body does not cool down properly or enough, a person may suffer a heat-related illness. Here are the three...
June 25, 2024
Tips for Business to Prevent Carbon Monoxide Poisoning
Carbon monoxide (CO) is a colorless, tasteless and odorless poisonous gas that is a byproduct of the incomplete burning of carbon-containing material. It can quickly accumulate in areas where employees work, even if the space appears well-ventilated. Exposure to CO can cause serious health problems and even fatalities, so business owners must take steps to...
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...
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 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...
April 2, 2024
Don’t Overlook These Small Business Risks
Half of small businesses have had at least one workplace injury in the last five years, says a recent survey on small business safety from Pie Insurance. The survey consisted of over 1,000 small business owners (of companies with 1-500 employees), and nearly one-third of these owners said that they wished they had known to put a higher...