Business
May 31, 2023
Contractual Risk Transfer Explained
Contractual risk transfer (CRT) is a risk management mechanism that can be utilized by many businesses. It involves shifting potential liability through a non-insurance contract or agreement and is intended to transfer risk to the party (e.g., vendor, supplier, subcontractor) that is better situated to control it. While insurance is the most common method to...
May 23, 2023
4 Things Employers Should Know About the State of the Workforce
While inflation has slowed down in the last year, its record highs in 2022 — which peaked at 9.1% last summer — will have lasting effects on employers and employees alike. According to global employment website Monster, 81% of workers report that their current wage has not kept up with the rising cost of living and inflation...
May 10, 2023
Data Privacy Lawsuits Nearly Doubled in 2022
Data breach litigation ramped up significantly in 2022, with more filings overall and filings in smaller data privacy events, according to BakerHostetler’s annual Data Security Incident Response Report. The law firm tracked a five-year trend showing a higher percentage of events resulting in at least one lawsuit—from four lawsuits out of 394 in 2018 up...
May 9, 2023
Nonprofit Sector Trends to Watch
Nonprofit organizations operate to fulfill their missions, benefit the community and serve the public. They are essential for maintaining a thriving society and contribute greatly to health care, higher education, environmental stewardship, human services, religious services, arts and culture, and other vital services. However, in the months and years ahead, the nonprofit sector could face...
May 3, 2023
OSHA Starts a National Emphasis Program to Prevent Falls
On May 1, 2023, the U.S. Department of Labor announced that OSHA started a National Emphasis Program (NEP) to prevent falls. OSHA states that falls continue to be the leading cause of fatal workplace injuries and one of the most frequently cited OSHA violations in the construction industry. The NEP went into effect on May...
April 25, 2023
Will Luxe Amenities Get Workers Back to the Office? Owners Say, ‘Yes’
The house party is ending for many office-bound workers — and, as a result, the office experience is getting a lot more fun. The push to get workers back to their desks resulted in a so-called “flight to quality” — tenants demanding highly amenitized, Class A office spaces. In response, landlords upped the ante like...
April 19, 2023
Trenching and Excavation Safety
It is essential to implement safety measures during trenching and excavation work to help prevent serious injuries and deaths. Especially considering the recent rise in fatalities and penalties involving this type of work, construction employers need to ensure they utilize proper risk management techniques. OSHA Penalties OSHA recently announced new enforcement guidance to deter employers...
April 18, 2023
2023 Fire Season Expected to Produce Above-Average Activity
The 2023 fire season is predicted to be relatively consistent with historical averages, with a slight increase in intensity, according to AccuWeather’s recently released 2023 US Wildfire Forecast. Between 60,000 to 75,000 wildfires are expected to occur, potentially burning 6.5 million to 8.25 million acres of land. These figures align with the average of 68,707...
April 11, 2023
Rising Workers’ Compensation Expenses Linked to Facility Services Costs
A report from the National Council on Compensation Insurance (NCCI) examining countrywide medical cost trends revealed that health care facility services costs accounted for 40% of workers’ compensation expenses during 2021 and increased by an average of 3% throughout the past decade. Although specific trends varied by facility type, the report found that the two...
April 4, 2023
April Is Distracted Driving Awareness Month
The National Safety Council recognizes April as Distracted Driving Awareness Month. This event is intended to raise awareness about the dangers of distracted driving and encourage motorists like you to minimize potential distractions behind the wheel. Review the following article for more information on distracted driving and ways you can help prevent it. Distracted Driving...