Commercial Insurance
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.
As cyber threats continue to escalate, organizations are grappling with the increasing risk of cyber incidents. With global cybercrime costs projected to reach $10.5 trillion by 2025, securing robust cyber insurance has never been more critical.
In a recent survey conducted by ResumeBuilder.com, we delved into the practices of U.S. companies concerning office attendance tracking and the potential repercussions of noncompliance with return-to-office (RTO) policies. Our comprehensive study involved 800 business leaders overseeing a remote-capable workforce, revealing some noteworthy findings. Attendance Tracking Trends: Productivity and Mandated RTO: Consequences for Noncompliance: Incentives…
Insurance carriers recognize the cost-effectiveness of offering additional coverage lines to existing customers, fostering longer-term relationships. While this strategy benefits carriers, it also holds significant advantages for their customers. Similar to bundling personal home and auto policies, combining business policies goes beyond cost savings. Businesses can explore multiline discount options by consulting with their insurance…