General Industry
March 18, 2021
2021 Commercial Property Insurance Market Outlook
The commercial property market has steadily hardened in recent years, resulting in rate increases every quarter since Q3 2017. Unfortunately, these rate increases—as well as additional policy restrictions—are expected to continue in 2021. We predict that many insureds will experience double-digit rate increases, lowered available capacity and various policy restrictions or exclusions—especially regarding losses tied...
March 15, 2021
Perspectives: Companies Increasingly Turn to Captives as Employee Benefits Evolve Due to COVID-19
COVID-19 has been the biggest disruptor in the health care sector in years, catapulting change in the delivery of care and putting greater focus on the emotional and financial well-being of employees as part of a broader business resiliency effort. To manage this more expansive set of benefits, companies are increasingly turning to captives for...
February 18, 2021
Maintaining Effective Sprinkler Heads
Sprinkler heads are largely responsible for detecting the presence of a fire at your commercial property and activating the sprinkler system’s water dispersal capabilities—thus suppressing the flames and mitigating damage. Data from the National Fire Protection Association (NFPA) suggests that effective sprinkler systems can reduce total deaths and property loss from fire incidents by over...
February 16, 2021
Employers Concerned About Mental Health, Stress Impact on Safety
More than 90% of employers are concerned about mental health and chronic stress impacting their workers’ fitness for duty, according to the results of a survey released Monday by the National Safety Council. The Itasca, Illinois-based council surveyed employers about workplace impairment in 2020, finding that 93% of employers believe that fitness for duty extends...
February 1, 2021
OSHA Issues New Prevention Guidance on COVID-19 in the Workplace
On Jan. 29, 2021, the Occupational Safety and Health Administration (OSHA) issued guidance on mitigating and preventing the spread of COVID-19 in the workplace. The guidance is intended to inform employers and workers in settings outside of health care of the risks of being exposed to or contracting COVID-19 at work. This guidance is meant...
January 29, 2021
Hard Property Market To Continue in 2021, With Higher Rates, New Exclusions: RPS
The property insurance market will continue to harden through 2021, with rising exposures and reinsurance costs driving primary rates higher, according to a report from wholesale broker Risk Placement Services (RPS). RPS expects rate increases in the high-single digits to 15% range on clean accounts. Increases are expected to be higher on accounts with losses....
January 26, 2021
CDC Provides Guidance on Ventilation in Buildings
Recently, the Centers for Disease Control and Prevention (CDC) launched a webpage providing guidance on ventilation in buildings to reduce COVID-19 exposure indoors. The CDC provides recommendations on what heating, ventilation and air conditioning (HVAC) strategies employers should use to lower the risk of exposure to COVID-19 throughout the workplace. One of the recommendations is...
January 18, 2021
5 Mental Health Employee Benefits Trends for 2021
Since the onset of the COVID-19 pandemic, Americans have reported increases in anxiety, depression and thoughts of suicide. The toll that the pandemic takes on mental health increases daily. Before the pandemic, 5% of employed workers reported poor or very poor mental health. Now, 18% of employed workers struggle with mental health issues. The COVID-19...
January 7, 2021
Embracing the Changes in Captive Insurance
As the world heads into another uncertain few months, risk managers are expecting a challenging time at their upcoming insurance and reinsurance renewals. Many are considering expanding the use of existing captives or setting up new ones to mitigate the effects of a changing insurance market, as well as their own shifting risk profiles. Even before the...
January 4, 2021
5 Strategies Employers Can Implement to Help Support COVID Vaccine Uptake
While there has been a lot of positive news recently about the COVID vaccines, there are varying reports on the public’s concern and willingness to take it. That hesitation, along with vaccine access, will determine how quickly life returns to normal. We will need more than 70% of the population vaccinated to get back to a pre-pandemic society, and...