News Release From OSHA & U.S. Department of Labor

Denise GillinConstruction, Risk Management

By Kyp Ross for AssuredPartners On July 14th, 2022 the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) issued a press release regarding an uptick in fatalities. The press release, titled “Alarming rise in trench-related fatalities spurs US Department of Labor to announce enhanced nationwide enforcement, additional oversight” announced that during the first half of 2022, 22 workers have been victims of deadly hazards involving a trench and/or excavation work. This number is alarmingly high, as there were a total of 15 fatalities in all of 2021. With this unfortunately high number, OSHA is evaluating the tools at their disposal to protect workers and keep safe working conditions. In additional to asking employers involved in trenching and excavating activities …

Captives: Is Company Size a Factor?

Denise GillinCaptives, Risk Management

By Denise Gillin for AssuredPartners Captives have been a financial strategy for managing risk for decades. In the 1960s about 100 captives existed. Significant growth in this sector came in the 1970s as Bermuda became a leading captive domicile. Growth continued through the 1980s and 90s mostly due to the hard insurance market and increasing difficulty to find coverage for liability claims through traditional insurance. What initially started as a funding option for larger organizations’ property and casualty coverage needs has more recently changed to become more amenable to all business sizes as well as a mechanism to cover new and emerging types of risks. The most recent growth trend includes captives as a tool for employee health population management. …

Using Telematics to Improve Driver Safety

Denise GillinInsurance, Risk Management, Transportation

By Gina Ekstam for AssuredPartners The number of vehicle accidents continues to rise, putting people at risk and disrupting agribusiness operations. With the use of technology, however, it is possible to improve safety and enhance operations. As commercial ag operations have grown, telematics has become a cost-effective way to gather data about drivers, individual vehicles, or an entire fleet. Typically, data such as location tracking, driver behavior, and vehicle diagnostics are collected by GPS, dashcams, or sensors installed on the vehicle. By analyzing the data, it’s possible to prevent and resolve accidents. Addressing operator behavior, such as speed, acceleration rates, and hard braking, not only keeps drivers safe it can also help prevent vehicle damage. Safety training and safe driving …

Gavel Keeps Falling and General Liability is in the Crosshairs

Denise GillinBusiness Insurance, News

By Alex Wright for Risk&Insurance Risk managers and their brokers are restructuring their liability programs as markets shift and underwriters take a closer look at exposures. The general liability market has changed beyond recognition since the start of the COVID-19 pandemic. Ever-increasing economic and social inflation, medical expenses and litigation financing have all resulted in spiraling claim losses and legal costs, which continue to outstrip rates. Added to that, sexual harassment cases are on the rise, and decades-old general liability policies have been exposed as many states have removed limitations on financial recovery and victims have been given more time to file or proceed with claims. Click for more information>>>