Commercial Insurance
Managing Commercial Fleet Maintenance and Repair Costs: Trends, Strategies, and Insurance Benefits Fleet maintenance is a critical responsibility for businesses that rely on vehicles to support their operations. However, rising costs driven by inflation, supply chain disruptions, and evolving vehicle technology have made keeping fleets in optimal condition increasingly challenging. Despite these obstacles, maintaining safe…
In an era of rising fuel costs and environmental awareness, improving your vehicle’s fuel efficiency isn’t just about saving money—it’s about reducing your carbon footprint too. By making a few adjustments to your driving habits and vehicle maintenance, you can stretch your dollars and visit the gas pump less frequently. Fuel Efficiency by the Numbers…
On Nov. 15, 2024, the U.S. District Court for the Eastern District of Texas vacated the Department of Labor’s (DOL) final rule amending the overtime exemption requirements under the Fair Labor Standards Act (FLSA). This ruling reverses the rule’s nationwide salary increases, restoring the pre-July 2024 thresholds. Background The FLSA exempts certain white-collar employees in…
The U.S. insurance industry’s struggles with commercial auto insurance show no signs of easing, as first-half 2024 results reveal continued deterioration despite 13 years of consistent quarterly price hikes, according to a new AM Best report. “While U.S. commercial lines have generally performed well, especially in 2022 and 2023, driven by strong underwriting in workers’…
Commercial property and casualty insurance premiums rose by an average of 5.1% in Q3 2024, with umbrella pricing showing an uptick amid rate moderation in most other lines, according to the Council of Insurance Agents & Brokers (CIAB). Market conditions for Q3 held steady from the previous quarter, CIAB noted in its latest report, with…
The Occupational Safety and Health Administration (OSHA) has recently taken a significant step towards enhancing workplace safety by publishing a notice of proposed rulemaking in the Federal Register regarding heat injury and illness prevention. If finalized, this new standard would represent the first federal regulation specifically aimed at safeguarding workers from extreme heat, affecting all…
What is an Experience Modification Worksheet? An experience modification worksheet, also known as an experience rating worksheet or experience mod worksheet, is essential for determining a company’s EMR. This worksheet helps employers and insurers evaluate and manage workplace safety, resulting in fair insurance premiums and safer work environments. Understanding the Experience Modification Rating (EMR) An…
Understanding the Importance of D&O Insurance for Private Companies In today’s business landscape, corporate transparency and accountability are paramount. Directors and officers of private companies face numerous liability exposures that can lead to costly legal battles. Stakeholders and third parties may hold board members accountable for damages resulting from alleged mistakes or poor decisions, leading…
Learn about OSHA’s new Walkaround Rule effective May 31, 2024, allowing employees to designate non-employee representatives for on-site inspections. Discover employer rights, third-party participation guidelines, and strategies to protect trade secrets during inspections.
On February 5, 2024, OSHA issued a Notice of Proposed Rulemaking (NPRM) introducing a Safety and Health Standard named Emergency Response. This standard aims to replace the current Fire Brigades standard, providing broader protection for emergency responders from various occupational hazards.