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Nine Critical Commercial Property Risks to Watch

Denise Gillin Business 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 Gillin Business 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 …

Captive Growth Expected to Continue in 2022

Denise Gillin Captives, 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>>>

USDA Confirms Highly Pathogenic Avian Influenza in a Commercial Poultry Flock in Delaware

Denise Gillin Agribusiness, News, Risk Management

WASHINGTON, February 23, 2022 – The United States Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) has confirmed the presence of highly pathogenic avian influenza (HPAI) in a commercial poultry flock in New Castle County, Delaware. Samples from the flock were tested at the University of Delaware’s Allen Laboratory in Newark, part of the National Animal Health Laboratory Network, and confirmed at the APHIS National Veterinary Services Laboratories (NVSL) in Ames, Iowa. APHIS is working closely with state animal health officials in Delaware on a joint incident response. State officials quarantined the affected premises, and birds on the property will be depopulated to prevent the spread of the disease. Birds from the flock will not enter the …

Cybersecurity Controls are Driving Insurance Renewal Terms and Pricing

Denise Gillin News, Risk Management

By Maureen Gallagher for AssuredPartners Cyber insurance pricing has increased significantly in the last several years. Loss frequency and severity is driving the pricing increases with ransomware as the loss leader. Underwriters are scrutinizing internal controls, and are either providing very low limits ($100K to $250K), or are no longer willing to write ransomware without multi-factor authentication (MFA). MFA is a security setting that requires users to provide more than one method of verification to gain access to websites or applications. It is also referred to as two-factor authentication. MFA is the top requirement, but underwriters will also inquire about the following>>>

New Year, New Plan: The Importance of Having the Right Policy for You

Denise Gillin Personal Lines, Risk Management

By Emilie Temple for AssuredPartners As the calendar turns to 2022, it’s a common practice to look ahead to what the new year holds. Whether it is an upcoming personal vacation or exciting work projects, there is an anticipation that awaits. While looking forward to the new year, it is also vital that you review your current personal insurance policies. There may be events that are coming up, or have just occurred, that effect what your exact coverage needs are. What are some of the reasons for you to evaluate your personal insurance policy? Life changes, new coverages, change in current coverages, and potential for additional savings are just some considerations. Click for more information>>>  

Grain Bin Safety Requires Year-Round Effort

Denise Gillin Agribusiness, Risk Management

By Gina Ekstam for AssuredPartners It’s well-known that working in and around grain bins is dangerous. In 2020, there were 64 documented agricultural-confined space-related cases, including 35 grain-related entrapments and 12 equipment entanglements, according to a report by Purdue University’s Agricultural and Biological Engineering Department. Grain bin entrapment is the most often identified hazard, but equipment handling, collapsing bins, fires, toxic fumes, and ladders are among the other equally hazardous situations that pose serious risks to worker safety. Regardless of the season, grain bin safety must be a year-round effort. With any safety initiative, it’s essential to identify and understand all potential hazards. Click for safety precautions to prevent grain-related incidents>>>

Best Practices for Private Home Health Care Aides in Senior Living Communities

Denise Gillin Risk Management, Senior Living

By David Thurber, J.D. for AssuredPartners In the senior living space, the question of home health care aides being utilized at a care facility is one that is certain to come up. There are many factors to consider when deciding how to go about interacting with this additional service for residents that it can become overwhelming. The paramount question at hand is how best to respond to the resident’s desire for this type of outside help, and yet carefully manage the safety and actual or potential liability of the senior living community for errant third-party care, advice, direction, or behavior. And additionally, the community’s role in integrating the third-party’s information, advice, and direction into their responsibility to provide care and …

Vaccine Mandate Update: How the Latest Legal Rulings Could Influence EPLI Coverage

Denise Gillin Business Insurance, News, Risk Management

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>>>

When Traditional Insurance Doesn’t Fit: Captive Structures

Denise Gillin Alternative Risk, Risk Management

By AP Captives for AssuredPartners AssuredPartners Captives experts know that sometimes traditional insurance isn’t the best option, but what is the alternative? Throw out the “cookie cutter” model and consider a captive as an alternative risk transfer technique to provide protection outside of the conventional insurance model. Captives can result in greater control and greater return on investment if, and only if, they are entered into for the right reasons, managed prudently and by professionals committed to long-term success. Simply stated, captives are member-owned insurance companies that operate for the members’ benefit. To be eligible for this type of alternative risk option, companies must meet stringent financial and safety qualifications. Click to read Captive Considerations>>>