Incident Track & The Risk Management Center

Denise GillinBusiness Insurance, Senior Living

By Tara Crisp for AssuredPartners One of an employer’s most tedious tasks is tracking incidents and compiling reports on those incidents.  What incidents are you trying to track? Where do you put them all? How do I know if I have a trend? Do I really have to sort through all of my incident reports or loss runs at the end of the year to generate my OSHA 300 logs? Utilizing AssuredPartners Incident Track within the Risk Management Center (RMC) may be your answer to these questions and more. Tell me more>>>

Construction Delays and Limiting Policy Language Impact Policyholders’ Recovery

Denise GillinConstruction, Risk Management

By Maureen Gallagher for AssuredPartners Many property policies contain contractual limitation provisions. These policy provisions are valid and enforceable in most states. The provision limiting the amount of time policyholders have to complete the work paid for by their insurance company to one year is particularly problematic. When policy provisions like this exist, if the repair or replacement has not been completed within the time frame, the carrier only pays actual cash value (ACV). This is a fairly common provision. It should be noted that Ordinance and Law Increased Cost of Construction provision also has a time limitation to repair or replace, or there is no coverage for the increased cost of construction. Standard ISO language is two years, and other …

Risk Management Concept. Workgroup Characters Admit, Identify, Measure and Implement Business Strategy. People with Huge Spyglass, Ruler and Money Poster, Banner or Flyer Cartoon Vector Illustration

Nine Critical Commercial Property Risks to Watch

Denise GillinBusiness Insurance, Risk Management

By R&I Editorial Team for Risk & Insurance From hurricane season to protests on the street, these are the major property risks of note for businesses of all sizes. Aging Infrastructure Extreme Weather Power Grid Failure Flooding Inflation Valuation Accuracy Protests and Civil Unrest Water Damage Supply Chain Disruption Click for details>>>  

Avoiding Pitfalls in Planning a Return-To-Work Process

Denise GillinBusiness Insurance, Risk Management

By Tara Crisp for AssuredPartners Return-to-work (RTW) is a complex process and understanding it is a valuable tool in an employer’s belt. The process assists the employer with showing employees how they are valued by planning for alternative solutions that will benefit the injured worker financially and psychologically. Thoughtfully executed RTW programs will plan for worst-case scenarios that provide resources for managers to utilize while meeting the needs of the most restricted worker. Return to work programs are one of the few tools that employers have to manage their experience modification factor. For employers that rely on their experience modification factor to secure and maintain contracts, this pre-planning can be invaluable. If you work in an experience rate adjustment state …

National Antique Day and Insuring Your Classic Car

Nina ConnerPersonal Lines

By Ally Over, AssuredPartners   On Saturday, April 9th, antique owners receive the spotlight as it is National Cherish an Antique Day. This day celebrates the history of antiques and the value they carry to each owner. Regardless of the antique you own, it is important to have proper coverage for it, especially if it is a classic car. While there isn’t necessarily a clear-cut definition as to what constitutes a classic car, automobiles that generally need classic car insurance are: See the list here>>

Captive Growth Expected to Continue in 2022

Denise GillinCaptives, Risk Management

By Denise Gillin for AssuredPartners As long as COVID-19, natural catastrophes, and a hardened commercial insurance climate dominate news headlines, many sources anticipate the current captive market growth to continue through 2022. Evidence of the continued expansion is supported by Aon’s 2021 benchmarking survey results which shows captive and protected cell usage has increased across many industries in the past two years, with pronounced increases for hard-hit lines: property damage / business interruption, Directors’ and Officers’ and Cyber.* * Contents – Aon’s 2021 Captive Benchmarking Survey Read more>>>

Equipment Values Increasing Beyond Insurance Limits

Denise GillinTransportation

By Andy Engardio for AssuredPartners With an 18-24 month back log on new tractors and trailers, the used equipment market has never been this hot. According to Transportation Topics, the prices for used equipment are seeing a 66% increase in prices for a standard class 8 vehicle. This is good data when you’re looking to purchase new equipment, however it could point to insufficient equipment values in the event of a claim. Depending on how your physical damage (comp and collision) insurance is valued, you may not have enough limits to replace your unit with like kind and quality. Tell me more>>>

Insurance Supports Sustainable Agriculture

Denise GillinAgribusiness, News

By Gina Ekstam for AssuredPartners Each year, National Ag Day recognizes and celebrates the critical role of agriculture in our country. In addition to producing the food, fiber, and renewable resources we need, agriculture has an essential role in maintaining a strong economy. As the population grows, so does the demand for food and fiber. Because of advancements in farming, America’s farmers can produce more while practicing sustainability for the future. Consider this: in the 1960s, each farmer fed 25 people. Today, each farmer feeds more than 165 people. The theme for this year’s National Ag Day (held March 22, 2022) is “Agriculture: Growing a Climate for Tomorrow.” About 22 million people are working in ag-related fields. As stewards of …