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Commercial property insurance provides much-needed financial protection if an organization’s property is directly damaged or destroyed by a covered peril (e.g., fire, theft, vandalism, wind and lightning). Specifically, this coverage can help reimburse property repair or replacement expenses in the event of a covered loss. When securing commercial property insurance, organizations may utilize the building and personal property coverage form, also known as the BPP. This form, which was established by the Insurance Services Office Inc., is one of the most commonly used coverage forms for insuring commercial property.

An individual coverage health reimbursement arrangement (ICHRA) is a type of employer-funded health care account that provides an alternative to traditional group health plan coverage. Employers of all sizes may use ICHRAs to reimburse employees’ premiums for individual health insurance policies on a tax-free basis. Depending on their design, ICHRAs can reimburse other out-of-pocket medical care expenses, including employees’ premiums for Medicare coverage.

Commercial weather forecasting service AccuWeather has released its expectations for the 2024 season, including warnings that hurricanes could wreak destructive havoc on areas along the Atlantic and Gulf coasts this year.

Commercial weather forecasting service AccuWeather has released its expectations for the 2024 season, including warnings that hurricanes could wreak destructive havoc on areas along the Atlantic and Gulf coasts this year.

The moment an injury occurs, it initiates a sequence of events that can last for weeks or even months. But no matter how prolonged the recovery period, the first 24 hours after an injury are the most crucial. To respond effectively to an incident, the majority of the action items should occur within 24 hours.

Your supervisors may already be experienced in handling injuries. Still, a clearly defined 24-hour injury response plan will help them provide even more effective and consistent responses and ensure that supervisors and employees know what to expect when someone is injured. The plan will also provide the necessary guidance when experienced supervisors are not immediately available to respond to an accident or injury.

Employers of all sizes continue to face attraction and retention challenges. Successful efforts to win over workers can require significant time and carry high costs, but failing to attract talent or losing existing employees is particularly costly for small businesses. Unfortunately, small businesses often don’t have the excess resources to invest in attraction and retention efforts in today’s labor market, making it difficult to compete with larger organizations.

Mental health provider ComPsych revealed that anxiety is the top mental health issue impacting workers. Nearly one-quarter (24%) of the individuals who contacted ComPsych for mental help assistance in 2023 were looking for help with anxiety. Last year, ComPsych facilitated more than 300,000 cases for American workers.

Specialty drugs, also known as specialty pharmaceuticals, are some of the most expensive prescriptions you can buy—costing up to $2,000 or more per month. Unfortunately, they may also be the only option for many people with complex and untreatable conditions. Specialty drugs are expensive prescription medications used to treat chronic, complex conditions. Individuals who have cancer, multiple sclerosis or rheumatoid arthritis might be prescribed a specialty drug. Special handling, such as refrigeration and supervised injections, is often required for these medications, contributing to the high costs.

One important aspect that plays a significant role in determining the cost of workers’ compensation insurance is the experience modification rating (EMR). This article delves into the concept of EMR, its calculation and its implications for employers.

Trucking industry conditions are constantly evolving, and businesses in the truck transportation subsector need to be aware of the changing landscape to maintain operational success. This year, trends that could impact the industry include economic challenges, driver shortages, social inflation contributing to rising commercial auto insurance rates, and utilizing electronic vehicles (EVs) in compliance with applicable regulations.

Each of these areas could significantly affect trucking businesses; as such, they must have a clear understanding of the latest sector developments and adjust their operations and risk management practices accordingly. This article provides more information on trucking industry trends to watch in 2024.