Risk Management
January 24, 2022
Labor Shortages and Business Liability Risks
The past year has seen labor shortages across industry lines. According to a recent study from the Society for Human Resource Management, nearly 90% of businesses are having a hard time filling open positions. These shortages have resulted from various factors, many of which are related to individuals reevaluating their employment priorities due to the...
January 13, 2022
5 Mental Health Employee Benefits Trends for 2022
Mental health has been a hot topic recently, thanks to the COVID-19 pandemic. Over the past two years, so many people have experienced issues such as burnout, depression, anxiety and substance addiction. In fact, 40% of U.S. adults said they have struggled with mental health or substance abuse during the pandemic, according to a Jellyvision...
January 5, 2022
2022 Workers’ Compensation Insurance Market Outlook
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,...
December 21, 2021
Flood Insurance Outlook for 2022 & Beyond
COVID-19 may have carried most of the headlines again in 2021 but flooding across America and issues related to flood insurance continued to make the news as well. While Hurricane Ida worked its way from the Gulf to the Northeastern seaboard in late August, Federal Emergency Management Administration (FEMA) was rushing to implement the National...
December 14, 2021
OSHA’s Top 10 Most Frequently Cited Standards for Fiscal Year 2021
Each year, the Occupational Safety & Health Administration (OSHA) releases preliminary data to support their latest Top 10 Most Frequently Cited Standards list at the National Safety Council’s Safety Congress & Expo. With a slight delay in last year’s data release due to COVID-19, the Administration is back on track announcing the new Top 10...
December 7, 2021
Looking Ahead to 2022: Property & Casualty Risk Management and Insurance
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...
December 3, 2021
The Top 5 Ways to Prepare for the Future of Work
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...
November 24, 2021
Managing the Construction Worker Shortage
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...
November 15, 2021
Cybersecurity Confidence Gap in Hospitality, Restaurant and Retail Sectors
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...
November 12, 2021
Mitigating Workers’ Comp Claims for Remote Employees
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...