February 23, 2022
It is estimated that in 2021, almost half of all constructions firms (47 percent) are building over 60 percent of their projects using “green building” methods and materials, typically in ways that also reduce insurance costs. Some specific areas in which green construction benefits both commercial and residential construction include: Siting and design efficiency — […]
February 11, 2022
If you have company trucks to provide service offsite or to deliver products, your drivers spend a lot of time on the road. Check out these tips for improving safety and reducing costs: Make sure your drivers have safety gear onboardStock your trucks with warning triangles, first aid kits, LED flares, warning flags, and make […]
January 27, 2022
Are you an employer who started letting employees work from home during the COVID-19 pandemic? Or maybe telecommuting has been part of your work environment even before the pandemic. In any case, here are some things to be aware of to protect your firm from litigation. As a first step, the best thing you can […]
January 14, 2022
In June, plaintiffs were awarded a $222 million verdict against a power company in Kansas for a plant operator killed in a steam accident. In the same month, a jury awarded a bar patron in Illinois $22 million when an employee forcibly removed him from the bar and dropped him on his head, fracturing his […]
December 22, 2021
As underwriters and others use data sets such as those provided and analyzed by Praedicat and Verisk and others to make underwriting decisions (see our story, “The Future of Underwriting”), there is often a fine line between what is public and what is private information. Where does one draw that line? A recent incident reported […]
December 13, 2021
The pandemic has forced us to adapt how we do business and many of these adaptations have made a permanent impact on our world. The tremendous growth in Work from Home (WFH), restaurant food delivery services and virtual meetings mark some of the major changes we’ve seen. In the insurance industry, the focus has been […]
November 25, 2021
Insurance companies are relying more and more on technology for claims handling and underwriting. Two companies, Praedicat and Verisk, recently announced new risk analysis products that your insurance companies may be using soon. Preadicat’s Company Risk Score (CRS) evaluates how risky a company is to underwrite, based on “how exposed a company is to emerging […]
November 16, 2021
Reviver laws, which establish a period for bringing lawsuits that would otherwise be barred by a statute of limitations, have become popular for permitting victims of sexual abuse to bring claims for incidents that occurred many years ago. Twenty-four states and the District of Columbia have already enacted reviver laws. Some permit claims only against […]
October 28, 2021
Nobody wants to have a loss of course, but you need to be ready. Here are six things to do right now, while you’re safe and sound with no immediate threats out there: Anticipate the kind of loss you might sustain. Which business units are at risk, how will those units respond to an event and […]
October 15, 2021
In the event of a loss here’s what to do: Make “Safety First” Your First PriorityMake sure everyone is safe. You will most likely want to evacuate the damaged property and notify staff, vendors, suppliers and anyone else who should know about the situation. Mitigate DamagesIt should go without saying that you need to protect […]
