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Why You Need Key Man Insurance

If you are operating a small business, you are likely relying on a small staff to get the job done.    Many employees in small firms have to wear many hats and if one of them or an owner should die, the business could suffer greatly from that sudden loss of talent. If you don’t have

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Paid Ransomware Demands Fall Sharply as Businesses Wise Up

Businesses are getting better at beating ransomware extortionists and more victims are refusing to pay to unlock their systems, according to a new report.   The ratio of ransoms that the cyber criminals demand to ransoms actually paid fell to just 12% in the third quarter of 2021, compared to 44% in the same period in the year

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Commercial Property Policy Won’t Cover Floods or Earthquakes

Many business owners are confused by the seemingly endless array of insurance policies and premiums. But an understanding of what your basic commercial property insurance covers and doesn’t cover is critical to any risk management strategy.   Furthermore, any responsible risk management plan must include an assessment for flooding and earthquake damage, and a plan for insurance

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Dealing with COVID Vaccination Status Friction Points with Employees

The controversy over COVID-19 vaccine mandates in the workplace continues growing and human resources are sounding the alarm on how employers should approach the matter.  While the Equal Employment Opportunity Commission and impending OSHA regulations will provide some cover to employers who want their employees to get vaccinated, they need to make sure that they follow certain

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Train Your Driving Staff for Rainy, Slippery Conditions

When it’s the rainy time of year, companies with staff that need to drive, delivery drivers or those making sales calls, and all in-beteen need to double down on road safety.   A good idea is to hold a training session on “Driving in the Rain”. While it may seem redundant, it’s an important exercise to reinforce the importance

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Rating Bureau Aims to Require COVID-19 Claims Count Against X-Mods

California’s Workers’ Compensation Insurance Rating Bureau has proposed plans to start requiring COVID-19 claims to be included when calculating employer X-Mods, according to a report by an industry trade publication. The proposal, which would have to be approved by the state insurance commissioner, would bring to an end current rules that exclude the impact of

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Rating Bureau Aims to Require COVID-19 Claims Count Against X-Mods

California’s Workers’ Compensation Insurance Rating Bureau has proposed plans to start requiring COVID-19 claims to be included when calculating employer X-Mods, according to a report by an industry trade publication. The proposal, which would have to be approved by the state insurance commissioner, would bring to an end current rules that exclude the impact of

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Commercial Insurance Rate Hikes to Continue in 2022

Rates for most commercial lines of insurance are likely to continue rising going into 2022, as claims costs mount across the board.   A new report from Marketscout notes that rate increases have accelerated across all major lines, but have been most pronounced in liability coverages.   The composite rate for commercial insurance pricing in the third quarter of 2021 was up 6.8% from the same period in 2020.

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Supply Chain Disruptions Keep Growing

As the COVID-19 pandemic drags on globally, supply chain disruptions continue getting worse and worse. Most main U.S. ports are logjammed with vessels waiting more than two weeks to load and unload, while a shortage of truckers means containers are piling up at port facilities.  On top of that, each new wave of coronavirus infections results in

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Factors Pushing Commercial Property Rates Higher

Commercial property insurance rates are continuing to climb, as the segment faces a number of headwinds that have pushed claims costs to new heights. There are number of factors that are colliding, including the frequency and severity of claims from extreme weather, the cost of rebuilding, rates for commercial properties are not keeping pace with

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