Manufacturing in 2023 and Beyond

Nina ConnerManufacturing

By Patti Gander for AssuredPartners Manufacturing continues to be a topic of discussion across the United States and globally, as the industry still struggles with supply chain disruptions and a shortage of skilled labor. Although there is no crystal ball to accurately predict what will be some of the driving forces in manufacturing, here are some potential key factors facing the industry. 1.      Increased adoption of automation and robotics: The shortage of skilled labor and the ever-increasing demand for higher output, lowered costs, and increasing expectations of product quality mean manufacturers will likely look at automation and robotics as a solution. Where automation and robotics have been adopted by the larger manufacturing companies, mid-sized and small manufacturers are beginning to adopt these …

Understanding Today’s Real Estate Property Insurance Market

Nina ConnerReal Estate

By AP Real Estate Team for AssuredPartners There are many challenges in the real estate property market today. How did we get here, and why is it different from previous hard markets? Not only has the frequency and size of weather events increased, but the definition of CAT has changed. Today we’re having events in states not historically impacted by extreme weather. And they are occurring more regularly and more severely. Following hurricanes Harvey, Irma, and Maria, the deterioration of insurance companies’ loss ratios accelerated. After years of extreme weather events, carriers lost basic underwriting discipline in their rates, deductibles, and limits or capacity deployed. They allowed valuations to remain stagnant instead of increasing replacement costs with general inflationary trends. …

Stand Up 4 Grain Safety – Small Steps for a Big Impact

Nina ConnerAgribusiness

By Gina Ekstam for AssuredPartners No one should die from grain engulfment – EVER! Engulfment can happen quickly with a split-second decision made by someone just trying to get the job done. Once inside a grain storage bin, an individual can be trapped or engulfed in flowing grain in seconds. Continued focus on awareness was the message of the 2023 Stand Up 4 Grain Safety Week sponsored by an OSHA Cooperative Alliance Program that includes the Grain Handling Safety Coalition, Grain Elevator and Processing Society, and National Grain and Feed Association. In 2021, 38% of reported grain engulfments were fatal. Due to the continued efforts of this group, fatalities were down 17% from 2020. A video safety message was developed by the …

The OSHA General Duty Clause

Nina ConnerEnergy

By Tara Crisp for AssuredPartners The Occupational Safety and Health Administration (OSHA) is tasked with ensuring that employers provide a safe working environment for their employees. OSHA has established a set of safety standards that employers must comply with, including the General Duty Clause. This clause requires employers to provide a workplace free from recognized hazards that can cause serious injury or death. Following are the four OSHA requirements that employers must meet to be cited under the General Duty Clause. Hazard Recognition Hazard recognition is the first requirement for being cited under the General Duty Clause. Employers must be aware of all potential hazards in their workplace and take appropriate steps to address them. This includes conducting regular safety …

Why it’s Imperative to Choose the Right Aviation Insurance Broker

Nina ConnerAerospace

By Stuart Hope for AssuredPartners Let’s face it. On a purchase satisfaction scale of 1 – 10, aviation insurance fails to register even a 1 for most buyers. There is simply nothing sexy about buying a stack of papers that promises to pay for a future loss that statistically has a low probability of ever happening. For this reason, many aircraft owners make the mistake of focusing a minimum amount of attention on this vital component of their financial protection system. Given the aviation risk will certainly rank as one of, if not THE largest financial exposure an aircraft owner faces, this can have devastating consequences. One of the most crucial decisions you will make is the selection of the …

Parking Issues & Industry Update

Nina ConnerTransportation

By Andy Engardio for AssuredPartners American Transportation Research Institute tracks the top industry issues every year. Truck parking has been a perennial top five issue since 2015, and this year was number three overall and the single top concern from truck drivers. Proper parking is linked to recruitment and retention issues, and efforts to attract more women professional drivers. Recently, Florida and Tennessee received nearly $40 million in grants to expand truck parking within their states. Secretary Buttigieg wrote to the American Trucking Association, “We will use every opportunity to educate state and local partners about the eligibility of federal funding for truck parking and recommend states work with private sector truck stop operators and the trucking community in the …

Spring Planting Season: The Perfect Time to Review Equipment Coverage

Nina ConnerAgribusiness

By Gina Ekstam for AssuredPartners The 2023 planting season is just around the corner, and many have already started or completed their annual equipment maintenance regimen. It is also the perfect time to review your insurance coverage to ensure equipment is insured for your specific needs and purposes for the season. Having the proper coverage will get you back in the fields as quickly as possible. The cost of farm inputs continues to increase into the 2023 planting season, and this includes equipment. Be sure to review your farm equipment lists to make sure all equipment is included as well as valued appropriately. Many farm blankets will have co-insurance so the full value of the blanket will be determined at …

What is the Manufacturing Skills Gap?

Nina ConnerManufacturing

By Patti Gander for AssuredPartners The manufacturing skills gap has been a topic for several years and that gap continues to expand. What is the manufacturing skills gap? The skills gap refers to the disconnect between the skills and knowledge that employers in the manufacturing industry require, and the skills possessed by the current workforce. The gap is created by several factors, including: An aging workforce Advances in technology Population growth is decreasing causing more competition for the available workforce Manufacturing is not often thought of as a career path Changes in the nature of manufacturing jobs. As older workers retire, they take their skills and knowledge with them, leaving a gap that is difficult to fill. At the same …

What Manufacturers Need to Know About Loss Control

Nina ConnerManufacturing

Q&A with Ryan Overly, Risk Control Consultant with Murray, an AssuredPartners company By Jenn DeWalt, Business Development Specialist, Murray This is the fifth and final part of a series on safety considerations for manufacturing companies: The first part of the series covered specific loss control considerations manufacturing companies need to consider regarding workers’ compensation and keeping their employees safe. The second part covered information on the top causes of loss in the manufacturing industry. The third part of the series covered valuable tips on keeping drivers and fleets safe. The fourth part covered details on both the virtual and online safety techniques that Murray offers for their clients. The fifth part of the series addresses specific risk management and loss …

What Manufacturers Need to Know About Loss Control

Nina ConnerManufacturing

Q&A with Ryan Overly, Risk Control Consultant with Murray, an AssuredPartners company By Jenn DeWalt, Business Development Specialist, Murray This is the fourth part of a series on safety considerations for manufacturing companies: The first part of the series covered specific loss control considerations manufacturing companies need to consider regarding workers’ compensation and keeping their employees safe. The second part of the series covered information on the top causes of loss in the manufacturing industry. The third part of the series covered valuable tips on keeping drivers and fleets safe. Almost $1.2 billion is paid out every week in our country for workers’ compensation claims.  Manufacturers in particular may be experiencing what often seem like small incidents, but those small …