Below you'll find a list of all posts that have been categorized as “Business Insurance”
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>>>
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 …
By Courtney DuChene for Risk&Insurance Employers who were preparing to implement vaccine or test requirements might be wondering what they should do to protect their workforce and shield themselves from EPL risk. The U.S. Supreme Court blocked an Occupational Health and Safety Administration’s (OSHA) emergency temporary standard, which would have required employers with 100 employees to either mandate vaccination against the SARS-CoV-2 virus or to test workers weekly. Click to learn if employers can mandate a vaccination>>>
By Kevin Rettberg for AssuredPartners The weather is turning, and with it the conditions on the roads will be changing. The incoming winter weather is set to turn the peace and quiet of the tranquil summer, sun-filled roads into a wintry mix of ice and snow in many areas of the country. The idea of what winter brings is nothing new, but somehow this winter feels a little unlike anything we have every experienced. Our weather is a microcosm of what is happening in the US right now: a calm before a storm. However, while we know exactly what weather brings us, there is an upcoming vaccine mandate that is causing a concern from the unknowns that it causes many …
By Gina Ekstam for AssuredPartners As the property insurance market continues to put pricing pressure on renewals, some agribusiness operations have benefited from specialty insurance programs, such as stock throughput coverage, to help them navigate the challenging marketplace. A form of inland marine insurance, a stock throughput program insures a product throughout the supply chain and accounts for any potential gaps in coverage. From the time the product is shipped, stored, and delivered to its final destination, there is a lot at stake. A stock throughput policy provides continuous coverage against all risks not explicitly excluded in the contract as long as the insured has ownership or responsibility for the product. What are the benefits>>>
By Kevin Rettberg for AssuredPartners With the September House passage of the latest infrastructure spending bill tagged somewhere around $3.5 trillion, there is still one issue that this bill has not addressed: commercial truck parking. To understand why this is an issue, we need to provide context. It goes without saying, but there is consensus that our nation’s highways and roadways are infrastructure, and as a country there is a continued investment of billions of dollars to maintain and improve them. Another point of agreement, especially having gone through the COVID pandemic, is that our commercial truck drivers are the lifeblood of our economy. Finally, the work that has been done in the industry to make the job safe is …
By Gavin Souter for BusinessInsurance.com Introduction by Jeffrey Gelburd, Vice President, Murray: As we head into the busy year end property / casualty renewal season, it is important to get a head start and have your best foot forward when negotiating renewal terms. With the exception of cyber liability, which is still very much in flux, rate increases on some lines have slowed down, and underwriters are interested in writing new business. After over two years of rate increases and takeaways, it’s in the best interest of insureds to market their program. Progress can now be obtained in negotiating improvements so anyone with good loss experience should use that to their advantage in renewal negotiations. Click to read Firm Insurance …
By Scott Sinder for LeadersEdge We are on the heels of the 20th anniversary of 9/11, and many of us lived the Terrorism Risk Insurance Act debates that followed. The widely shared expectation at the time was that 9/11 was just the first of what we thought would be a long litany of terrorist events on U.S. soil. But those never materialized, and, to date, not one claim has been paid through the TRIA program. The recent exponential growth in “ransomware” claims, however, seems to have bucked that trend. There is a spate of more well publicized cases—Colonial Pipeline and CNA?—but as Alejandro Mayorkas, secretary of the U.S. Department of Homeland Security, recently noted, the overall “rate of ransomware attacks …
If your organization has a strong business culture that prioritizes employee health and safety and a history of low claims, you can: Have greater control over claim management. Know every penny spent on insurance is accounted for. Take the surprises out of renewal time. In less than four minutes, this video can help you determine if a captive is a good fit for your company. To further discuss the captive options we have available, contact Lori Harris, AAI, CPIA, Captive Director / Account Executive at 717.381.3477 or email her at lharris@murrayins.com. Murray is proud to be a part of AssuredPartners, committed to providing Power Through Partnership.
By Tyson Keith for AssuredPartners.com The year of 2021 has already proven to be a record-breaking year for the trucking industry, as there are more active trucking companies now than ever before. According to the Trucking Register’s May 2021 report, there are 13,200 more active authorities than there were in April, which is nearly ten times the average monthly growth of the industry! This creates an issue for truck insurance carriers, as the industry is not equipped to handle the rapid growth. Underwriting companies rely heavily on retail agencies to vet each trucking company and give them the insight they need to properly underwrite each risk. With over 431,000 active trucking companies all renewing their insurance on an annual basis, …
