Commercial umbrella insurance is a flexible form of coverage that can help supplement several traditional liability policies,including general liability insurance, commercial auto coverage and employment practices liability insurance.
Each year, more than 5,000 workers are killed on the job. Additionally, more than 3.6 million employees are seriously injured each year while at work. Because of this, the Occupational Safety and Health Administration (OSHA) holds a nationwide event each August called Safe and Sound Week, which promotes the importance of companies incorporating safety and health programs into their workplace. This year, the event runs Aug. 12-18, 2024.
Profitable underwriting results have generated favorable conditions across the workers’ compensation insurance market for nearly a decade. According to the National Council on Compensation Insurance (NCCI), the segment produced combined ratios of 84.5 and 84.9 in 2022 and 2023, respectively, demonstrating continued profitability.
In what is being called “the most important cyber accumulation loss event since NotPetya,” the July 19, 2024, global technology outage (CrowdStrike) will produce scores of insurance claims across a range of policies, test cyber policy wordings,and sharpen the industry’s focus on single points of failure.
Researchers at Colorado State University have upped their forecast for this year’s Atlantic hurricane season, now projecting at least 25 named storms, with 12 of them expected to reach hurricane status.
Company drivers are exposed to several risks on the road. In fact, according to a Bureau of Labor Statistics report, transportation incidents are the leading cause of work-related fatalities in the United States. Additionally, the most recent data from the Network of Employers for Traffic Safety found that U.S. traffic crashes cost employers over $72 billion annually, demonstrating that drivers can also create major liabilities for a company.
Cyber incidents—including data breaches, ransomware attacks and social engineering scams—have become increasingly prevalent, impacting organizations of all sizes and industries. Such incidents have largely been brought on by additional cyberthreat vectors and growing attacker sophistication. As these incidents continue to rise in both cost and frequency, it’s crucial for organizations to take steps to address their cyber exposures and bolster their digital security defenses.
It’s essential to be properly prepared for hurricane season, as these storms carry significant risks to safety and property. To raise awareness of the dangers of hurricanes, the National Oceanic and Atmospheric Administration (NOAA) annually sponsors National Hurricane Preparedness Week. This year, it runs from May 5th to May 11th. With the eastern Pacific hurricane season beginning May 15 and the Atlantic hurricane season beginning June 1, now is a good time to review how to prepare for hurricanes and tropical storms.
Cyber incidents—including data breaches, ransomware attacks and social engineering scams—have become increasingly prevalent over the past decade, impacting organizations of all sizes and industries.
The National Work Zone Awareness Week (NWZAW) will take place April 15-19, 2024, in conjunction with National Occupational Research Agenda’s (NORA) Construction Stand-down to Prevent Struck-by Incidents event. In 2021, 956 people died in work zones, according to the NHTSA FARS data. Also in 2021, 108 highway worker occupational fatalities occurred in road construction sites, based on BLS data. Further data is available on WorkZoneSafety.org.
