General Industry
November 19, 2024
The Role of Coinsurance and Sublimits in Cyber Insurance
Cybercriminals increasingly use sophisticated methods to infiltrate businesses’ computer systems and networks, putting sensitive data and personally identifiable information at risk. With cyberthreats evolving in scope and complexity, businesses of all sizes and industries face potentially devastating financial and reputational damages. To manage these risks, leaders should adopt robust cyber defenses and follow cyber hygiene...
November 15, 2024
Inflation Up in October After Six-month Slowdown
The U.S. Bureau of Labor Statistics (BLS) reported that the consumer price index (CPI) rose 2.6% year over year in October, up from 2.4% in September. Although the month’s reading followed six consecutive months of slowing rates, it met economists’ predictions. The inflation increase won’t likely disrupt the Federal Reserve (Fed) as expectations are for...
November 14, 2024
Employer-reported Nonfatal Workplace Injuries and Illnesses Down 8.4%
Private industry employers reported an 8.4% decrease in nonfatal workplace injuries and illnesses in 2023 compared to 2022, according to the most recent data available from the U.S. Bureau of Labor Statistics. There were 2.6 million nonfatal workplace injuries and illnesses reported in 2023. The decrease was driven by a 56.6% drop in illnesses in...
November 5, 2024
5 Strategies to Engage Employees in Open Enrollment
Open enrollment is a critical time for employees. It’s when employees make important decisions about their health care, retirement and other benefits that will affect them for the rest of the year. However, confusion about benefits is a widespread issue among employees of all generations; in fact, a recent survey by Business Solver found that...
October 31, 2024
Implications of the 2024 Election on Employee Benefits and Health Care
Millions of Americans have submitted ballots for the 2024 presidential election, and voting concludes on Tuesday, Nov. 5. With a new presidential administration set to take over the White House in January, health care-related topics are a high-priority issue for many voters. Election results hold the potential to bring significant changes to employee benefits and...
October 22, 2024
How to Mitigate Supply Chain Risks
Consumers have come to expect ample choice, instant shipping and ultrafast delivery, making a smooth supply chain critical. However, the fragile nature of supply chains can lead to sudden bottlenecks, delaying production or shipments and impacting an organization’s ability to meet customer demand. These delays can disrupt cash flow and damage customer loyalty as expectations...
October 17, 2024
Best Practices for Safety Committees
A safety committee is crucial for creating and maintaining a safe workplace culture. These committees bring together employees, management and safety professionals to proactively address workplace hazards. There are several organizational benefits to implementing a safety committee. They can provide a safer work environment, increase employee morale, lower workers’ compensation premiums by improving incident rates...
October 10, 2024
Commercial P&C Rates Up 3.8% in Q3, but Q4 Could See Hurricane Effects
The U.S. property and casualty insurance market saw rates rise an average of 3.8% for commercial lines and 6.75% for personal lines in the third quarter, according to the latest data from MarketScout. The average increases for Q3 are down from 4.36% for commercial lines and 7.6% for personal lines in the second quarter. The...
October 3, 2024
Navigating Cybersecurity Challenges in the Construction Industry
The construction industry is continuously moving toward digitization, adopting advanced technology such as artificial intelligence, the Internet of Things (IoT) and Building Information Modeling software. These innovations help to automate tasks, reduce waste and improve efficiency, productivity and safety. However, this shift also brings significant cybersecurity risks. As construction companies increasingly rely on digital tools...
October 1, 2024
Hurricane Helene Brings Catastrophic Flooding and Damage to Multiple States
After making landfall as a Category 4 storm in Florida’s Big Bend region, Hurricane Helene sped inland with a path of devastation, bringing historic flooding, millions of power outages and causing more than 90 deaths in multiple states. Coming ashore as the strongest hurricane on record to hit the Big Bend region of Florida, Helene...