The commercial auto insurance market has encountered significant underwriting losses and plummeting profitability for more than a decade. Although the segment continues to face challenging market conditions, rate increases mostly remained in the single digits in 2022, demonstrating signs of stagnation compared to double-digit rate hikes in prior years.
The last several years have seen the commercial property insurance market progressively harden, evidenced by ongoing rate increases over the past 22
consecutive quarters. Such rate hikes showed some signs of stagnation throughout 2022 by largely remaining within single digits, according to insurance experts.
July is Ultraviolet (UV) Awareness Month. This campaign serves as a reminder of the dangers of UV exposure and the importance of sun safety. Most skin cancers are caused by too much exposure to
UV rays, according to the Centers for Disease Control and Prevention. Avoiding excessive sun exposure is one of the best ways to protect yourself from sun damage and skin cancer
As part of a potentially growing trend, a new law in Florida will require private employers with at least 25 employees to use E-Verify, the digital immigration verification tool, during their onboarding process, starting July 1.
Audits can be daunting for businesses. An IRS or insurance audit or a vendor needing records can be a stressful experience. However, as long as you’re prepared, there is no need to dread an insurance premium audit. This article discusses what a premium audit is, which insurance policies commonly include premium audits, the audit process, how to prepare and what …
As part of a potentially growing trend, a new law in Florida will require private employers with at least 25 employees to use E-Verify, the digital immigration verification tool, during their onboarding process, starting July 1. Gov. Ron DeSantis signed SB 1718 into law on May 10. It will increase penalties for noncompliance and for employers that knowingly hire undocumented …
Have you ever wondered why certain foods make you feel energized while other foods make you feel tired? Understanding how foods and beverages affect your body can make a significant impact on your ability to fall asleep.
Claims history is one of the main factors that insurers evaluate to determine organizations’ commercial insurance premiums. As such, it’s crucial for organizations to have a sufficient grasp on their past losses. Fortunately, that’s where insurance loss runs can help. A loss run is a report generated by an insurer that records the claims made against an insured’s policies. These …
In this issue: • Understanding subcontractor agreements & risk transfer. • When is contractual risk transfer used? • Aspects of a contractual risk transfer agreement. • Contractual risk transfer considerations. • Ways to minimize your risk when signing a contract.
• Who needs contractual risk transfer protection?
