Automobiles are one of the most significant exposures to loss a company can face. To ensure that you effectively manage your company’s vehicle liability and risk exposure, you need to have an effective risk management strategy. Without one, the consequences to your company’s bottom line can be severe. With one, you can reduce your total […]
The sizes of large jury verdicts have exploded in recent years, putting a strain on businesses not only for what they have to pay out of pocket, but also the size of the premium they pay for their liability coverage. These damages juries are awarding have gotten so large that they’ve been given a new […]
Fed-OSHA has proposed new regulations that would require personal protective equipment for construction workers to be properly fitting. OSHA’s main concern is that the current standard PPE doesn’t clearly state that the equipment must fit each construction worker properly, which the general industry and maritime standards already require. The lack of access to properly fitting […]
A recent decision by the U.S. Supreme Court will make it more difficult for employers to deny employees’ requests for religious accommodations in the workplace. The unanimous decision by the court in the case of Groff vs. DeJoy basically upends a standard for accommodating religious beliefs that has been in place since 1977. The case concerns […]
California Insurance Commissioner Ricardo Lara has issued an order that cuts the average advisory workers’ compensation benchmark rate across all classes by 2.6%, starting Sept. 1. After holding a public hearing in June, Lara rejected the Workers’ Compensation Insurance Rating Bureau’s recommendation that the benchmark rate increase 0.3%. The difference between the WCIRB-proposed rate and […]
After two years of massive rate increases, cyber insurance market pricing has been softening and transitioning into a buyers’ market, according to a new report by Aon Plc. In 2021 and 2022, 100% rate increases for cyber liability insurers were common, but a number of factors are finally starting to drive rates lower. Experts recommend […]
Skyrocketing claims costs and higher accident rates are pressuring the commercial auto insurance market, as insurers impose increasingly larger rate hikes and more are pulling out of the market or restricting who they will cover. While rate increases have been the standard for nearly a decade, since 2022 hikes are growing larger — often in […]
Commercial property insurance rates remain stubbornly high in California for businesses with properties that are susceptible to wildfire risks. Coverage is relatively easy to find at reasonable prices in any of California’s larger cities, but in small cities and towns, it’s a different story. Business with facilities in any areas that abut woodlands and other […]
The California Civil Rights Department (CRD) recently released a detailed set of frequently asked questions about a new bereavement law that requires employers in the state with five or more workers to provide leave for up to five days to a worker who loses an immediate family member. The law, which took effect Jan. 1, […]
Under new U.S. Treasury Department rules, businesses with fewer than 20 employees and less than $5 million in annual revenue will have to start reporting ownership and control information to the federal government every year. The requirement, issued under the Corporate Transparency Act (CTA), is expected to affect 32 million small businesses across the country. […]