Finance and Equity

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July 15, 2022

2022 Midyear Market Outlook: Cyber Insurance

The past year has seen a rapidly hardening cyber insurance market as cyberattacks have surged in both cost and frequency. This increase in attacks has, in turn, resulted in a rise in cyber insurance claims and subsequent underwriting losses. Amid these market conditions, most policyholders experienced higher cyber insurance rates at their 2022 renewals, with...

July 5, 2022

Proposed Overtime Rule Expected in October 2022

In its recent spring regulatory agenda, the U.S. Department of Labor (DOL) announced its plans to issue a proposed overtime rule in October 2022. According to the agency’s regulatory agenda, this proposed rule is expected to address how to implement the exemption of executive, administrative and professional employees from the Fair Labor Standards Act’s (FLSA)...

June 23, 2022

Inflation is Taking a Bite Out of Employees’ Salaries — Here’s How Employers Can Help

After fighting to survive a yearslong pandemic and a national labor shortage, employers and employees have been served up one more helping of hardship on their financial plate: inflation. The Consumer Price Index rose nearly 8% this year — a 40-year high for inflation in the United States. Since inflation measures the increase in the...

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 10, 2022

How to Combat Workplace Risks in a Distributed Workforce

Distributed workforces are not a new concept, but with COVID lingering and many employees preferring the flexibility of hybrid work, businesses are quickly realizing that working across multiple locations instead of having everyone work under one roof is becoming the norm. With a greater focus being put on compliance, stress management, and other workforce challenges...

March 28, 2022

Insurance Needs for HVAC Contractors

Heating, ventilation and air conditioning (HVAC) contractors install, maintain and repair heating and cooling systems in residential and commercial structures. They work with appliances, water heaters, toilets and sprinkler systems in new buildings and existing structures. Due to the wide variety of tasks these contractors perform, they may need specialized coverage to protect against liabilities....

March 15, 2022

Workplace Dangers Most Troubling to Employees in 2022

Workplace safety is now more important than ever before, according to 89% of Americans, nearly the same amount also believe that organizations have a legal and moral obligation to protect employees from unnecessary risks. This is according to a survey from AlertMedia, which also revealed 82% of people feel these obligations extend to those working remotely. While...

March 10, 2022

President Biden Urges Employees to Return to the Office

Recently, President Joe Biden urged employers to bring back workers into the office. During his remarks, Biden noted that with COVID-19 vaccination rates up and hospitalizations down, most Americans can remove their masks, return to work and move forward safely. President Biden also made similar comments days earlier during the 2022 State of the Union...

March 7, 2022

DC Loosens Mask-wearing Guidance for Most of U.S. Population

Recently, the Centers for Disease Control and Prevention (CDC) announced updates to its mask-wearing recommendations, loosening guidance for a majority of the U.S. population. The CDC provides COVID-19 Community Levels as a tool to help communities decide what prevention steps to take based on the latest data. These levels can be low, medium or high,...