A Modern Approach to Security Deposits

Nina Conner Business Insurance, Insurance

By Nate Bunty for Murray Housing affordability is one of the hottest current economic topics. Housing stock is down while rents and interest rates are up, and inflation is at its highest in a generation. Existing home sales, new construction, and the rental market are all feeling the effects. For property managers and landlords, this environment requires new creative solutions to address affordability issues; legacy systems need to be rethought and retooled. Emerging alternatives to the traditional security deposit are making renting more attainable while protecting the interests of property owners. Creative Solutions to an Evolving Proble A few enterprising companies have developed alternatives to traditional security deposits that eliminate hassle for landlords or property managers and make newer, better …

Best Practices for Avoiding Electrical Risks

Nina Conner Agribusiness

By Gina Ekstam for AssuredPartners Electrical risks are one of the most overlooked hazards in agriculture. According to the National Ag Safety Database (NASD), thousands of workers are shocked and burned due to accidental contact with electricity each year, and an estimated $1.2 billion in property damage occurs because of faulty electrical usage. Accidents happen for a variety of reasons. One of the biggest dangers is overhead power lines. Workers using portable grain augers, large wagons, combines, fold-up cultivators, and other tall equipment should know where power lines are located as well as the clearance needed for equipment that must travel underneath the lines. Maintaining a minimum 10-foot clearance between the power line and the top of equipment traveling under …

Tips for Safely Extracting Stuck Vehicles

Nina Conner Agribusiness

By Gina Ekstam for AssuredPartners Agricultural workers know all too well the risk of trucks and tractors getting stuck in the mud or snow. Unfortunately, it’s during attempts to dislodge a stuck vehicle that serious injuries occur. Safety training is one of the best ways to avoid an accident. Techniques may vary, but all safe towing practices should consider: Soil condition How deep the truck or tractor is stuck Stuck vehicle weight Towing vehicle weight When a vehicle becomes stuck, it’s important not to rush. Mistakes are more likely to happen when workers hurry to extract the vehicle, increasing the chance of property damage and injury. Instead, assess the following: How stuck is the vehicle, and how much damage may …

PPE Hazard Assessments in Oil & Gas

Nina Conner Energy

By Tara Crisp-Schwartz for AssuredPartners A recent injury incident in Midland, Texas, has spotlighted a little-known hazard related to working with sodium hypochlorite, also known as, bleach. An employee, who was performing water treatment duties in conjunction with the water transfer department, violated the standard operating procedure when working with sodium hypochlorite and suffered second and third degrees burn on his backside. The pump that the employee was utilizing to inject the sodium hypochlorite into the water manifold would not prime. The employee deviated from the standard operating procedure and inadvertently broke the line that contained 12.5% sodium hypochlorite. The employee was wearing the required PPE [issued by the employer and recommended on the Safety Data Sheet (SDS)]; goggles, face …

Changes Announced by U.S. Department of Labor to OSHA’s Severe Violator Enforcement Program

Nina Conner Energy

By Tara Crisp for AssuredPartners On September 15th, 2022 the U.S Department of Labor announced changes to the Occupational Safety and Health Administration’s (OSHA) Severe Violator Enforcement Program. OSHA has changed the requirements for placement into the program in order to strengthen the enforcement while improving compliance. The changes reflect a more serious violation offense for those that show up as repeat offenders and according to OSHA, “focuses on employers who repeatedly disregard workers’ safety, health” (Occupational Safety and Health Administration [OSHA], 2022) According to the press release released by OSHA, the program features these updates: Read the program feature updates here>>>

The State of Commercial Insurance

Nina Conner Insurance

The Council of Insurance Agents & Brokers (CIAB) recently released The State of Commercial Insurance report, in collaboration with EY, one of the largest professional services firms in the world. This report highlights the current pressure points at play in the market as well as premium pricing, economic conditions, and geopolitical risk.  The video from Leaders Edge offers a high-level overview, while the full report is also available for a more detailed depiction of the state of the market. Read the full report here>>>

Inflation Reduction Act 2022

Denise Gillin News

By Jim Stevenson for AssuredPartners On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 2022. The Act contains more than $430 billion, which is anticipated to reduce the federal deficit over $300 billion in the next decade. The Inflation Reduction Act includes a variety of new implementations: $369 billion towards climate and energy policies Authorizes three years of Affordable Care Act subsidies Prescription drug reformation to lower prices Fifteen percent (15%) corporate minimum tax for companies that earn more than $1 billion per year Invests $80 billion in the Internal Revenue Service (IRS) to fund tax enforcement for the next ten years. The Inflation Reduction Act supports the Infrastructure and Investment Jobs Act (IIJA) by significantly …

Harvest Season Tractor Safety

Nina Conner Agribusiness

By Gina Ekstam for AssuredPartners As harvest season picks up, more tractors and farm equipment will be on the road and in the fields – including combines and other harvesting equipment moving from one field to another. When operated correctly, tractors are generally safe, but tractor overturns are the leading cause of fatalities in the ag industry. With approximately 130 deaths per year, overturn accidents can happen in seconds. A protective structure, such as a roll bar or cage frame, and a seat belt are simple measures that can protect workers from being crushed or thrown. Safety depends on knowledge, alertness, and hazard awareness. Read more here>>>

Understanding Fine Art and other Private Client Insurance Solutions

Nina Conner Personal Lines

By Linda Young for AssuredPartners October 25th of every calendar year marks National Fine Art Appreciation Day. While many enjoy experiencing fine art at galleries or at their own home, it is important to have the proper protection for whatever high value assets you have. What are some of the key things to know when it comes to securing your valuable articles? For your home: Coverage for breakage is generally excluded. Items that are misplaced or lost may not be covered. A deductible will most likely apply to your loss. The loss settlement for items of rarity or antiquity may be limited. Typically, coverage for many types of valuables, is limited from $1,000 to $5,000. Read more here>>>

Best Practices for Risk Management

Nina Conner Construction, Risk Management

By Gary Semmer for AssuredPartners The construction industry is facing a number of “external” challenges ranging from materials price inflation, supply chain delays, and labor shortages which translates into scheduling, productivity, and profitability issues. Although we have no control over these external factors, we can help our construction clients control the following equation: Total Cost of Risk (TCOR) Premiums + Deductibles + Risk Management Expenses/Construction Revenues= .0050% to 1.5% (acceptable range) and maintain a competitive advantage. Let’s explore the “Best Practices” of a Risk Management Program to achieve these results: See these results here>>>