The transportation industry is seeing an increased number of companies leasing their vehicles to owner-operators for expense savings. However, owner-operators create an inherent risk for these companies because their injuries and accidents are not covered by Workers’...
Workers’ Compensation COVID-19 Claims Update
The White House is increasing pressure on insurance carriers to reevaluate what is considered a “covered loss” during the COVID-19 pandemic. How a Workers’ Compensation carrier will take coverage definitions and respond to a COVID-19 claim is changing so quickly that...
Why Workers’ Compensation COI Programs are Essential for Construction Clients
Certificates of Insurance programs are the cornerstone of Workers’ Compensation protection in the construction business. A Certificate of Insurance (COI) is a form that provides proof of an active Workers’ Compensation policy. The document specifies a variety of...
COVID-19 Dramatically Increasing the Work From Home Population – Now What?
As the coronavirus disease 2019 (COVID-19) outbreak continues to spread at a rapid pace, Risk Innovations has received an increased number of inquiries regarding work-related COVID-19 claims. Coverage varies with Workers’ Compensation statutes from state-to-state, so...
How Employee Age Impacts Workers Compensation Utilization
According to the Bureau of Labor Statistics, the number of people ages 55 and older in the workforce will reach 24.9% in 2024 – up from 11.9% in 1994. Prompting this uptick in working Boomers are two factors: They can’t receive full Social Security retirement benefits...
Workplace Safety Increases as Workers’ Compensation Claims Drop
Regulatory reforms and advancements in workplace safety have caused the frequency and severity of Workers’ Compensation claims to decline significantly. As injury rates drop, Workers’ Compensation costs also decrease; providing significant benefits to the employers....
California Passes Groundbreaking Legislation to Limit Independent Contractors
California Governor, Gavin Newsom, recently signed a new bill that makes it more difficult for companies to classify their workers as independent contractors rather than employees. This legislation is expected to change the employment status of more than a million...
How Recessions Impact Workers’ Compensation
Many economists believe that a recession is on the horizon, and Bank of America forecasted a greater than 30% chance of a recession starting within the next year. How will the predicted economic downturn impact Workers' Compensation claims? The rate of workplace...
Safe Harvesting Tips in Honor of Harvest Safety Week
The National Grain and Feed Association (NGFA) has announced the first-ever Harvest Safety Week, October 14-18, to promote health and safety in the workplace and out in the fields. As feed and grain workers are working long hours during this busy time, it’s important...
Up in Smoke: Insuring Cannabis-Related Businesses
The sale of legal cannabis is projected to reach $20 billion within three years. With 33 states passing laws to legalize medical cannabis and 11 allowing recreational marijuana, the insurance industry is beginning to take notice. California blazed trails by announcing...
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