Effects of Social Inflation & Nuclear Verdicts on Trucking Insurance
In recent years, the trucking industry has seen a decline in workers, stricter regulations on hours driven and a growing number of supply chain issues related to increased consumer demand and shipment delays. Further compounding these issues, the cost of trucking insurance has been affected by social inflation and related factor nuclear verdicts. Learn how…
8 Common Commercial Insurance Blind Spots
You may think your business has enough coverage but when you file a claim to recover a loss, you find out your policy excludes a particular peril or limits are insufficient. When it comes to commercial coverage, businesses should anticipate these common blind spots. 1. Forgoing Disability Insurance When a non-work-related injury occurs, workers’ compensation…
Spring Storm Safety Tips for Businesses
Spring can bring about some of the year’s most dangerous weather and wreak havoc on many aspects of a company’s operations. This article discusses the weather threats to watch out for during spring and measures businesses can take to minimize damage. Dangerous Spring Weather Unexpected severe weather increases the risk of property damage, injury and…
2022 Workers’ Compensation Insurance Market Outlook
Unlike other lines of coverage, the market for workers’ compensation insurance has remained stable across most states and industries, performing as an outlier by producing profitable underwriting results. According to the National Council on Compensation Insurance (NCCI), the private carrier combined ratio for workers’ compensation in 2020 carriers was 87, up from 85 in 2019,…
How to Identify a Hazardous Material for Transport
While certain items can be transported via simple methods, hazardous materials require significantly more care. Certain substances may require a specific shipping method. The U.S. Department of Transportation’s Hazardous Materials Regulations (HRM) specify how hazardous materials should be transported within state lines, from state-to-state and overseas. These regulations help minimize potential catastrophes for those handling…