risk management
October 11, 2023
Insurance Innovation Necessary Amid New Digital Risks
In its latest sigma study, Swiss Re Institute finds that potential digitalization benefits across countries and throughout the insurance value chain are far from exhausted. According to the reinsurer’s “The economics of digitalization in insurance” sigma report, digitalization is a source of new growth, new risks, and new efficiencies for the insurance industry. Digital value creation has...
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...
October 5, 2023
Upcoming NCCI Experience Modification Changes for 2024
The National Council on Compensation Insurance (NCCI) is making alterations to its experience modification factor for 2024. These changes are slated to go into effect on each state’s regular filing date on or after Nov. 1, 2023. This Work Comp Insights will provide an overview of the NCCI’s changes. Overview of Changes The NCCI governs...
October 4, 2023
Assessing Winter Weather Risks
Understanding their specific winter weather risks plays a vital role in helping businesses make informed decisions and take appropriate actions to protect their employees and property. Doing so also allows businesses to proactively limit potential damage and enhance their overall storm preparedness. Here are steps that businesses can take to assess their winter weather exposures:...
October 3, 2023
How Employers Can Champion Employees’ Wellbeing During Natural Disasters
As the U.S. confronts escalating natural disasters like wildfires, hurricanes and floods, the scope of employer responsibility extends beyond the confines of office walls. Regardless of where you live, people everywhere are vulnerable to experiencing the stress and anguish brought about by these disasters. As a result, employers must act as pillars of support for...
September 26, 2023
Trends In Commercial Real Estate: Amenities Drive Leasing Decisions
You might often hear people—especially investors—say, “Well, what’s trending?” or “What are the current trends showing?” Before making any kind of purchasing decision, it’s important to understand how the market is currently behaving and what the projections are for the future. As we are all aware, the commercial real estate industry got a bit rocked...
September 25, 2023
Workplace Accidents Can Be Costly
We all know that safety is essential in construction, but do you realize just how costly a job site injury can be? According to the National Safety Council, the average cost per workplace injury is $1,300. It may not seem like all that much, but the extra expense to pay for injuries has a powerfully...
September 20, 2023
From Floods to Fires, Here Are Climate Change’s Impacts on Construction Insurance
Adapting the construction industry to the reality of climate change These extreme weather-related events are having a very real impact on the industry. One issue occurs right at the start of the construction process – choosing a viable location and then, from there, what materials will be used. Keeping an eye on bodies of water...
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...