insurance
August 29, 2023
7 Factors Driving Commercial Property Insurance Costs
Several cost-driving trends have contributed to the hard commercial property insurance market. This environment has led to continuous rate increases and other challenging conditions. In these circumstances, it’s crucial for businesses to understand why premiums have been rising. This article discusses seven factors currently impacting commercial property insurance costs. Catastrophic losses—Hurricanes, tornadoes, wildfires, winter storms...
August 18, 2023
OSHA’s New National Emphasis Program Aimed at Preventing Warehouse Injury and Heat Hazards and Its Possible Implications on California
On July 13, 2023, the Department of Labor’s Occupational Safety and Health Administration (“OSHA”) announced the launch of a three-year National Emphasis Program meant to prevent workplace hazards in warehouses, processing facilities, distribution centers, and high-risk retail establishments. OSHA’s announcement explains that warehousing and distribution centers have experienced tremendous growth over the past 10 years, with over 1.9 million...
August 16, 2023
The Tech that Could Shape the Future of Workplace Safety
While artificial intelligence, wearable tech and exoskeletons are not yet commonplace at every worksite, it is a very real possibility that these technologies, and a host of other emerging ones, will play critical roles in the future of work safety and workers’ compensation. To find out what technologies are making a difference, or showing the potential to...
August 10, 2023
Navigating the Unpredictable: Key Trends in Catastrophe Claims
Catastrophe (CAT) seasons are increasingly complex to navigate, especially with the surge of non-stop rain and freeze events outside these pivotal periods. What was once a predominately hurricane-focused season has now diversified into more regular, regional weather-related perils, such as windstorms, massive snowfalls and freezing conditions. From the floods in New Zealand this year to the...
August 9, 2023
Closing the Gaps on Cyber Risks
Cyber risks are constantly evolving, and while there had been a lull in the frequency of ransomware attacks, that respite has clearly ended. In an interview last month on NPR, Jackie Burns Koven of Chainalysis, a blockchain data platform that provides insights on cyber risks and attacks, said that 2023 is shaping up to be...
August 8, 2023
2024 Open Enrollment: The Power of Early Preparation
The labor landscape was undoubtedly a roller coaster in the first half of 2023, and employers are still along for the ride. During the past year, the market experienced a record number of employee quits, a jump in talent shortages and increased workplace demands from workers—many of whom had the upper hand in employment negotiations....
August 3, 2023
Preventing Falls Due to Extreme Heat
Extreme heat creates many risks in construction. As an employee in this industry, not only should you be aware of illnesses caused by the heat, but you also need to be mindful of how high temperatures can cause physical and mental impairments that can lead to falls and know how to prevent this hazard. How...
August 2, 2023
Workers’ Compensation State of Risk
Workers’ compensation provides essential coverage, and in many instances, laws require employers to carry it. Additionally, workers’ compensation has been the most profitable property and casualty (P&C) line of business in recent years. The National Council on Compensation Insurance (NCCI) reports six straight years of combined ratios under 90 and nine consecutive years of underwriting...
July 26, 2023
5 Risks in the Construction Industry
Construction owners and contractors face a myriad of risks that are inherent to the industry. In order to help ensure safe and productive operations, it’s vital for these parties to understand common exposures so they can take proactive steps to address them. Common Construction Industry Risks While each operation’s specific exposures may vary, the construction...
July 19, 2023
OSHA Expands Injury and Illness Submission Requirements for Employers in High-hazard Industries
On July 17, 2023, OSHA announced a final rule that will require certain employers in designated high-hazard industries to electronically submit additional injury and illness information than what is currently required but employers are already required to keep. The final rule will become effective on Jan. 1, 2024. Injury and Illness Submission Expansion Overview OSHA’s...