Commercial auto insurance rates have been on the rise since 2011, increasing often by more than 10% a year as accidents and claims costs have soared. The trucking industry has been the hardest hit by the steep increases, and there are a number of factors contributing to the rate hikes, according to a recent study…Read more
Commercial Insurance Rates Continue Climbing
Despite the ongoing COVID-19 pandemic, commercial insurance rates are continuing to move higher, pretty much across the board with the exception of workers’ compensation. A new report by online insurance exchange MarketScout found that in the third quarter of the year the highest rate increases were in liability lines, but hefty rises in property insurance…Read more
COVID-19 Prompts Telemedicine Boom in Workers’ Compensation
The COVID-19 crisis has brought to the fore a cost-saving approach to medical care for injured workers being treated through the workers’ compensation system: telemedicine. Telemedicine has in recent years only slowly been taking hold in workers’ compensation, as doctors and injured workers both value that hands-on time they have when they meet. But often…Read more
Virginia Implements the Nation’s First COVID-19 Workplace Safety Standard
Virginia is on the cusp of creating the nation’s first pandemic workplace safety requirements for employers, a standard that many in the occupational safety and health community expect could be a model for other state-operated Occupational Safety and Health Administrations to follow. With no signs that Fed-OSHA is looking to develop similar regulations, some state…Read more
Does Insurance Cover Riots?
After a video surfaced showing a Minnesota police officer kneeling on George Floyd’s neck, many residents took to the streets. While most engaged in peaceful protest, many resorted to violence. The result was extensive property damage to local businesses. The question is, will insurance pay for repairs and lost of income due to a riot?…Read more
Does Business Insurance Cover Coronavirus?
COVID-19 is forcing businesses to face a number of risks, liability and insurance implications. Companies could seek coverage for a variety of claims stemming from the outbreak, including workers’ compensation, business interruption, liability and more. And, now that it is a pandemic, the economic fallout may be expansive – hitting your company’s operations in the…Read more
Employer Guide for Dealing with the Coronavirus
As the outbreak of the 2019 novel coronavirus gains momentum and potentially begins to spread in North America, employers will have to start considering what steps they can take to protect their workers while fulfilling their legal obligations. Employers are in a difficult position because it is likely that the workplace would be a significant…Read more
Why Are Commercial Insurance Premiums Increasing?
A new report by Willis Towers Watson predicts that most commercial insurance lines will see increases in 2020 as the market continues to harden almost across the board, with the only exception being workers’ compensation. Overall, 19 commercial lines are expected to see price increases according to the report, with property, umbrella, and public company…Read more
As Cyber Threat Mounts, More Companies Take Measures
As attacks on businesses’ networks continue increasing at unprecedented levels, cyber risks have become the top concern among organizations of all sizes for the first time, according to a new survey. The “Travelers Risk Index” found that 55% of executives surveyed said they worry “some” or “a great deal” about cyber risks. That’s more than…Read more
Employment Practices Liability Insurance
Every employer, no matter how small, faces the specter of being sued by a past, present or prospective employee at some time. Employment Practices Liability Insurance (EPLI) can help protect your business. In fact, such employment practices claims are widespread – so much so that most businesses are much more likely to have an employment…Read more
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