business
December 6, 2023
Remote Work’s Impact on the Insurance Industry
The concept of working from home isn’t entirely new. In fact, it’s been around since well before the digital age, although most “work from home” jobs back then were agricultural or artisan in nature. Over time, as technology advanced to allow people the ability to connect without being in the same physical space, working from...
November 20, 2023
Fostering a Culture of Workplace Safety
Fostering a strong safety culture provides many benefits. In addition to reducing the risk of workplace accidents, such a culture can also help improve employee morale, enhance a business’s reputation and minimize related costs and liabilities. This article explains what it means to have a strong safety culture, outlines associated benefits and provides strategies companies...
November 3, 2023
Protecting Your Business Against Frozen Pipes and Sprinkler Systems
During the winter season, businesses face a unique set of property challenges, including the risk of frozen pipes and sprinkler systems. These issues can result in costly damage, disruption of operations and potential safety hazards. It is essential to understand which pipes and systems are most vulnerable to freezing, the impact of cold weather on...
October 30, 2023
Report Finds Health Care Spending Expected to Exceed Overall Economic Growth
A recent report from the Centers for Medicare and Medicaid Services (CMS) predicted that the average growth in national health expenditures would outpace average gross domestic product (GDP) growth from 2022 to 2031, at 5.4% and 4.6%, respectively. Per person spending is also expected to increase to an annual rate of 4.8% from 2022 to...
October 24, 2023
Understanding Protective Safeguards Endorsements (PSEs)
When it comes to property insurance, it’s not just about securing a policy; it’s about fully understanding its nuances to ensure you have the highest level of protection for all your assets. In some cases, misunderstanding the details of your property coverage can mean the difference between safeguarding your investments and costly oversights. One often...
October 9, 2023
Electrical Preventative Maintenance (EPM) Programs Explained
It’s important for businesses to maintain their electrical systems to avoid unexpected downtime, costly repairs and potential safety hazards. That’s where Electrical Preventative Maintenance (EPM) programs come in. By proactively identifying and preventing electrical problems, businesses can minimize risks, increase efficiency and save money in the long run. This article will discuss the benefits of...
September 19, 2023
Protecting Your Business From Power Surges
Power surges, which are sudden spikes in electrical voltage, can wreak havoc on business equipment and systems. While they may seem like minor inconveniences, power surges can have a significant impact on a business’s bottom line. This article explores the dangers of power surges, effective strategies to shield businesses from their effects and the crucial...
September 15, 2023
The Importance of Safety Orientations in Onboarding
Minimizing workplace injuries is vital for businesses across industry lines. Especially as it pertains to new employees, implementing safety orientations in the onboarding process could play a major role in preventing injuries. In fact, recent research found that 40% of occupational injuries occur among workers who have been in their roles for less than one...
September 1, 2023
Captives Address Emerging Risks
Businesses are increasingly looking to captives to address emerging risks as commercial insurance market conditions remain difficult. Demand is growing for innovative insurance programs for cannabis and cryptocurrency risks, among others, panelists said last month at the Vermont Captive Insurance Association’s 2023 annual conference. “The search for capacity doesn’t end when your insurance broker says...
August 31, 2023
4 Trends Shaping the Casualty Market
No. 1: Inflation is changing the game. After peaking at 9.1% in June 2022 following more than two years of pandemic-induced growth, global inflation has trended down slowly for the last few quarters. Still, inflation remains a concern across the entire property and casualty (P&C) value chain. Naturally, rising costs will have a direct impact on insurers...