For many of us, ringing in the new year means setting resolutions for better health and well-being. Whether in business or our personal lives, we must consider the scenarios that may threaten or enable our success. The insurance industry is no different. This time last year the world was eager for COVID-19 vaccines to end...
Unlike other lines of coverage, the market for workers’ compensation insurance has remained stable across most states and industries, performing as an outlier by producing profitable underwriting results. According to the National Council on Compensation Insurance (NCCI), the private carrier combined ratio for workers’ compensation in 2020 carriers was 87, up from 85 in 2019,...
The last few years have been a reckoning for the insurance industry and just when we thought insurance buyers might feel relief, COVID-19 entered the picture and extended challenging market conditions into 2021. However, as we look ahead to 2022, we see signs of positive changes for insurance buyers. Having a knowledgeable and trusted insurance...
There’s no question that COVID-19 drastically reshaped our work lives – many of the changes are here to stay. We have entered a new era of work. As we emerge from this time of uncertainty and start planning for 2022 and beyond, it’s clear that workplaces cannot return to “business as usual.” Future-thinking insurance agencies...
With the growing shift in the office market toward flex space, office brokers are facing a sea change that will deeply impact how they operate. Partner Insights spoke to John Arenas, CEO of flex space provider Serendipity Labs, about how brokers will have to adapt to the new office landscape, and the opportunities afforded them...
A new report released by the Home Builders Institute (HBI) predicts that the construction industry may be on the cusp of an employee shortage crisis. The HBI’s Fall 2021 Construction Labor Market Report—based on data analysis from the Bureau of Labor Statistics—estimates that an additional 2.2 million new hires will be necessary over the next...
New data released from Cornell University’s Center for Hospitality Research and FreedomPay, a global leader in data-driven commerce, reveals that while nearly all (96%) surveyed retail, restaurant and hospitality stakeholders are confident in their companies’ internal risk assessment processes, their satisfaction (95%) in the security of their systems is misaligned with reality, as one-third of...
As many employees have adjusted to working from home, trading their cubicle for a kitchen table and the board room meetings for Zoom appointments, many have become accustomed to making a workplace out of practically anywhere. Of course, some of these changes come with implications, especially in the workers’ compensation arena. Identifying a few key...
SAN DIEGO – The construction sector faces a broad range of risk management and productivity challenges that need to be overcome for the sector to thrive, a construction executive said Monday. The COVID-19 pandemic, social unrest, rapid technological change, personnel shortages and climate change have combined to pose serious threats to companies operating in the...
Hybrid models of working — with some employees remote, some in the office and some with a varied schedule — are here to stay. While this flexible approach is appealing to employees, it often poses a challenge for employers who wish to build and maintain a vibrant and productive workplace culture. We know that culture...