Risk Management
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...
September 26, 2024
Proposed OSHA Heat Injury and Illness Prevention Standard
OSHA recently published a Notice of Proposed Rulemaking in the Federal Register regarding heat injury and illness prevention. If finalized, the new standard would apply to all employers conducting indoor and outdoor work in all general industry, construction, maritime and agricultural sectors where OSHA has jurisdiction, subject to limited exceptions. It would also be the...
September 24, 2024
Preventing Age Discrimination in the Workplace
Age discrimination, or ageism, in the workplace involves treating an applicant or employee unfavorably because of their age. The Age Discrimination in Employment Act (ADEA) prohibits age discrimination against those aged 40 or older in all aspects of employment, including hiring, firing, pay, job assignments, promotions, layoffs, training and benefits. Some states also have laws...
September 16, 2024
Ensuring Proper Workplace Ergonomics
October is recognized as National Ergonomics Month. According to the Centers for Disease Control and Prevention (CDC), the purpose of this yearly initiative is to raise awareness of and help reduce occupational injuries caused by poor workstation design. Ergonomics is the science of fitting a workspace to an individual’s needs to increase efficiency while reducing...
September 11, 2024
Preparing for the Fall and Winter Virus Season
During the fall and winter months, respiratory viruses tend to spread more widely. Before the COVID-19 pandemic, influenza (flu) and respiratory syncytial virus (RSV) were the main causes of severe respiratory disease during these times of year. Although some people have mild symptoms when they catch the flu or RSV, others get sick enough to...
September 5, 2024
OSHA Releases New Online Severe Injury Report Dashboard
On Sept. 4, 2024, OSHA released an online tool giving users the ability to search its severe injury report (SIR) database and view trends related to workplace injuries occurring in states covered by federal OSHA. Key Highlights OSHA requires that employers report all severe work-related injuries, such as amputations, in-patient hospitalizations or losses of an...
August 29, 2024
Stopping Jobsite Theft
Construction businesses are at a heightened risk of jobsite theft, as expensive tools and machinery are attractive targets for criminals. Theft of construction materials can substantially disrupt a project, leading to delays and significant financial losses; therefore, it is essential for companies to understand how to prevent these incidents. Although every jobsite has its own...
August 28, 2024
Generative AI Benefits and Risks
As generative artificial intelligence (AI) advances, corporate boards are increasingly leveraging its capabilities to improve several aspects of their organizations. However, these boards must understand how to use this tool properly in order to use it effectively in their operations. They must also carefully analyze and weigh the risks it presents; otherwise, they may be...