How long you wait to notify your workers’ compensation insurer of a workplace injury can make a significant difference in the cost of that claim. When your premium is calculated, one of the key elements that your carrier takes into account is the cost and frequency of prior claims during the past few years. In […]
July 18, 2024
As more and more people are returning to work in offices after working remotely for a few years since the COVID-19 pandemic arrived, bullying and other workplace misconduct is increasing, according to a new study. The study by Fama Technologies, a maker of applicant screening software, found increases in misconduct growing across industry sectors, putting […]
July 18, 2024
Sales of voluntary group benefits grew at a record pace in 2023 as more employers expand their offerings and demand continues booming as employees seek out benefits that can defray costs, according to new research. Premiums collected for employer-sponsored voluntary benefits jumped 6.7% during the year to an aggregate $9.3 billion, with all lines of […]
July 18, 2024
California Insurance Commissioner Ricardo Lara on May 31 approved all of the Workers’ Compensation Insurance Rating Bureau’s recommended changes to class codes for some electronics manufacturing sectors, as well as increases to the wage thresholds for construction industry dual classifications. The following changes will take effect for policies incepting on or after Sept. 1, 2024: […]
July 18, 2024
As our summers get hotter and more regions battle sweltering heat waves, it’s imperative that employers take steps to protect their outdoor workers. People who are not acclimated to high heat conditions can easily suffer heat illness, which can be deadly. Between 2011 and 2021, there were 436 work-related deaths caused by environmental heat exposure, […]
July 17, 2024
Summer is here and people are flocking to the water — whether it’s the beach, a lake, a river or a backyard pool. But, wherever there’s water, there’s also danger. According to the U.S. Centers for Disease Control and Prevention, about 10 people drown every day — and two of those are children 14 or […]
July 11, 2024
Explore the ins and outs of home insurance coverage. From types to coverage limits, learn how to secure your home against unexpected disasters. Household disasters happen. Problems like lightning strikes, household fires, and damage from wind can cause a host of problems that can be expensive to repair. While every homeowner lives with the risk […]
May 8, 2024
Workers’ compensation fraud costs the insurance industry roughly $5 billion each year, according to estimates by the National Insurance Crime Bureau. Depending on whom you ask, fraud accounts for as much as 10% of the costs of all workers’ comp claims. This type of fraud is typically associated with malingering employees who fake injuries in […]
April 23, 2024
As the economy continues roaring, the market for top talent stays exceedingly competitive. Multiple studies have consistently shown that a robust set of employee benefits is a vital component of an overall compensation package. But it’s tough for smaller companies to compete with their large counterparts, who have the advantage of economies of scale. As […]
April 23, 2024
With the California commercial property and homeowner’s insurance markets increasingly stressed with fewer and fewer insurers willing to write policies in the Golden State, the insurance commissioner has floated a plan aimed at easing the crisis. The main thrust of the new proposal is to make it easier for insurers to get their rate-hike requests […]
April 23, 2024