Common Exposures for Retail Operations
Owning and operating a retail store can be a fulfilling experience. Years of hard work, risk-taking and financial investments have allowed you to turn your dreams of opening a store of your own into a reality. However, many business owners don’t realize how many exposures they must address to keep their business operating smoothly. Depending […]
Common Exposures for Plumbing Contractors
Plumbing contractors provide much-needed services for both residential and commercial customers alike. However, plumbers have a number of unique risks to consider. In fact, any incident involving installing and repairing pipes or fixtures can lead to major property damage, as well as potential legal action. These challenges are magnified when you consider that risks related […]
Common Exposures for Hotels
Owning and operating a hotel can be a rewarding endeavor. However, hotel operators have to manage numerous exposures related to lodging, and many offer amenities—including pools, exercise facilities, bars and restaurants—that can dramatically increase the number of insurable risks. The list below provides an overview of these hotel risks and more, helping you identify potential […]
Reopening a Business After the Coronavirus Shutdown
As the coronavirus (COVID-19) pandemic continues to have an unprecedented effect on daily life, many business owners are looking forward to a return to normalcy. We may be nearing a time when stay-at-home regulations are scaled back and all businesses are allowed to resume. Before reopening, businesses should perform a risk assessment to determine what […]
Upholding an Employer’s Reputation With Employee Safety Initiatives During the COVID-19 Pandemic
The COVID-19 (coronavirus) pandemic continues to validate the importance of an employer brand during a crisis. As employees return to the workplace, organizations must prioritize safety. If return-to-work plans go wrong and employee safety is not a top priority, not only will the health and safety of employees be at risk—but the organization’s reputation will […]
How to Improve Employee Morale Amidst Uncertainty
To say employees are working under unique circumstances in 2020 would be considered an understatement by most. We are dealing with an intersection of stressors between the global pandemic, the impact of the resulting economic downturn, political divisions in an election year, and social unrest. Add in the upcoming holiday season and it may seem […]
Managing Social Media Risks
Organizations continue to leverage social media channels to engage and interact with customers on a more personal level. Social media remains a great opportunity for businesses to connect with customers, job candidates and other stakeholders. However, before fully involving your business in social media, it’s important to understand the associated risks. Negative content, such as […]
How to Address COVID Fatigue in Your Workforce
Perspectives on How to Manage Personally and Professionally Through A Pandemic As the number of COVID-19 cases rise, entrenching us in the second wave globally, we’re seeing more people desperately searching for a sense of normality. But it’s critically important to recognize these behaviors and the reasons behind them to manage through this pandemic. The […]
Cyber Liability Trends for 2021
In 2020, the COVID-19 pandemic forced many businesses to send employees home to perform their jobs. Cybercriminals have found this new remote workforce a tempting target, unleashing phishing, malware and ransomware attacks. These threats exploit the weaknesses of many businesses’ cybersecurity systems. In 2021, businesses will see a continuation of these attacks and new, emerging […]
Employers Enhance Benefits To Address Growing Stress in the Workforce
Nine months into what has been dubbed the worst pandemic in modern history, it’s not surprising that employee stress, anxiety, and burnout continue to worsen. Employers have been forced to re-evaluate how to best support their workforce in spite of external forces and with limited financial resources. Although some companies have needed to reduce costs […]
Deepfakes Explained
Deepfakes refer to sophisticated forgeries of an image, video or audio recording. Deepfakes have been around for years—you can even find a version of them in social media applications. For instance, with Snapchat, face-changing filters take real-time data and feed it through an algorithm to produce a synthetic image. However, as the technology has evolved, […]
Frequently Cited OSHA Standards – 2020
The Occupational Safety and Health Administration (OSHA) not only keeps records of the most frequently cited standards overall, but also within particular industries. Understanding these standards and taking proactive steps to avoid violations can go a long way toward ensuring workplace safety. When it comes to the manufacturing industry, the following standards are commonly cited […]
Direct and Indirect Workers’ Compensation Costs Explained
Workers’ compensation claims have a variety of different costs associated with them. Some of these costs are expected costs, while others are unexpected. Here’s the difference between these terms: According to the Occupational Safety and Health Administration (OSHA), both direct and indirect costs can have a substantial impact on employers and their bottom lines. As […]
Workers’ Compensation Insights – Employee Fraud
Workers’ compensation coverage is intended to help your organization cover expenses that may result from employees getting ill or injured on the job. Nevertheless, there is always a chance that one or more of your employees may attempt to take advantage of this coverage by committing fraud. An employee can participate in workers’ compensation fraud […]
The Value of Surety Bonds
The way project owners evaluate and manage risks on construction projects and make fiscally responsible decisions to ensure timely project completion are crucial to their success. Since private owners cannot afford to gamble on a contractor whose reliability is uncertain or who could end up bankrupt halfway through the job, a surety bond is a […]
The Importance of Reporting All Workers’ Compensation Claims
Employee injuries and illnesses are not always simple for employers to navigate—making the workers’ compensation claim process increasingly difficult. However, there are a number of measures that employers can take to reduce the cost and complexity of a claim. Specifically, when employers report claims in a timely fashion—whether to their respective state or workers’ compensation […]
Product Liability Insurance Protection for Your Business
Product liability Insurance, also known as products-completed operations insurance, provides solid protection for your business relating to the manufacturing or sale to the public of products, foods, medicines or other items. Specifically, as part of commercial general liability (CGL) policy, this coverage provides protection against liabilities for losses due to injuries caused by malfunctions or […]
Zero Trust Security Explained
Traditional cybersecurity protocols can’t keep up with the rapidly evolving modern workplace environment. The complexity of hybrid work, the rising number of fully remote employees and the dramatic increase in the use of cloud-based systems make traditional perimeter security ineffectual. A new security model is needed to keep the corporate network safe. This model is […]
Cyber Liability Coverage in the Construction Industry
In recent years, cyber incidents have surged in both cost and frequency. These incidents have become a pressing concern for organizations of all sizes and sectors—and construction companies are no exception. Although employers within the construction industry may think that their cyber exposures are minimal, this often isn’t the case. Rather, such vulnerabilities can come […]
Ransomware Actors Shifting Away From Big-game Hunting to Smaller Targets: Coveware
Ransomware actors shifted to more “mid-game hunting” in the third quarter (Q3) of 2021, resulting in fewer large ransom payments and more lower payments made by middle-market organizations, according to recent data from Coveware, an incident response and ransomware negotiation firm. The average ransom payment amount stayed around the same level between the second quarter […]
Preventing Falls at Worksites in Winter
Falls are already one of the most common accidents at construction sites, but working outdoors during the winter can create even more hazards. Fortunately, there are ways to compensate for these additional risks and keep employees as safe as possible. While conducting operations during winter conditions, take the following precautions: For more information on employee […]
Labor Shortages and Business Liability Risks
The past year has seen labor shortages across industry lines. According to a recent study from the Society for Human Resource Management, nearly 90% of businesses are having a hard time filling open positions. These shortages have resulted from various factors, many of which are related to individuals reevaluating their employment priorities due to the […]
Common Components of a Cyber Insurance Policy
In recent years, organizations of all sizes and sectors have become increasingly reliant on workplace technology and digital systems to conduct their operations. Nevertheless, utilizing such technology carries additional exposures and liabilities. That’s why it’s crucial to secure adequate cyber coverage. Having a cyber insurance policy in place can provide protection against financial losses that […]
Rising Property Replacement Costs
Commercial property losses and insurance premiums have significantly increased over the past two years due to environmental and economic factors. Undervaluation of the replacement costs for a damaged building or equipment can also be linked to commercial property insurers experiencing high loss costs. To compensate, insurers continue to increase premiums, with rates rising 8.7% in […]