Latest Business Insurance Headlines
All the headlines from our Business Insurance Topic Page, ordered by recency.
Ohio Bureau of Workers’ Compensation Announces 3.9% Rate Reduction for Public Employers in 2024
Aug 30 2023 // The Ohio Bureau of Workers’ Compensation announced a 3.9% rate reduction for the state’s public employers, a rate cut that will go into effect Jan. 1, 2024. The rate reduction will result in nearly $8 million...
Texas Wire Drawing Company Faces $299K in Fines After Fatal Workplace Accident
Aug 24 2023 // A federal investigation has found that a San Antonio, Texas wire drawing company could have prevented an employee from suffering fatal injuries by following required workplace safety standards. Investigators with the U.S....
Employer Hosting Golf Outing Not Liable for Drunk Driver, Pennsylvania High Court Says
Aug 24 2023 // The Pennsylvania Supreme Court has declined to extend the state’s liquor liability law to social hosts. The high court cited a half-century of precedent in upholding lower courts in a case where an employer hosting a...
Small Businesses Give Record-High Ratings to Commercial Insurers: JD Power
Aug 23 2023 // Small businesses across the U.S. are increasingly satisfied with the products and services they receive from their commercial insurance providers. According to the 11th annual JD Power 2023 U.S. Small Commercial Insurance...
Why Employers Need Options in Return-to-Work Programs
Aug 21 2023 // Lost time claims can lead to increased workers’ compensation premiums for an employer because they can raise the experience-modification (ex-mod) factor that is used, in part, to determine workers’ comp...
Some Workplace Shootings May Not be Compensable, Florida Appeals Court Says
Aug 17 2023 // Workplace shootings, more common than ever now, may happen in the course and scope of employment. But do they have to be work-related to make the victims eligible for workers’ compensation benefits? That’s the...
Cal/OSHA Issues High Heat Advisory to Employers
Aug 15 2023 // Cal/OSHA is advising all employers to protect workers from heat illness as high temperatures are forecast throughout the state. The National Weather Service issued excessive heat warnings for some areas through 17. Some of...
New York Workers’ Compensation Fund Returned $585 Million to Employers
Aug 15 2023 // The New York State Insurance Fund (NYSIF), the state’s largest workers’ compensation insurer, allocated $585 million to New York employers last year through its dividends and return-of-premium programs. Every...
ChatGPT Fever Spreads to US Workplace, Sounding Alarm for Some
Aug 14 2023 // Many workers across the U.S. are turning to ChatGPT to help with basic tasks, a Reuters/Ipsos poll found, despite fears that have led employers such as Microsoft and Google to curb its use. Companies worldwide are...
Kellogg’s ‘Woke’ Workplace Diversity Programs Are Illegal, Group Claims
Aug 10 2023 // A conservative legal group on Wednesday urged a U.S. anti-discrimination agency to investigate Kellogg over workplace diversity policies that it says are unlawful, and accused the cereal maker of sexualizing its...
Commercial Property Loans Are So Unappealing Banks Trying to Dump Them
Aug 8 2023 // Banks seeking to sell commercial-property loans are encountering a dried-up market with few options for an easy exit. Lenders including Goldman Sachs Group Inc. and JPMorgan Chase & Co. have been trying to sell debt...
Q2 Net Income Up 23% at The Hartford, Bolstered by Commercial Lines
Jul 31 2023 // The Hartford said second quarter net income was $542 million, an increase of 23% compared with the same period a year ago, driven by written premium growth of 12% in commercial lines. Net income from commercial lines was...
Las Vegas Casino Mogul Fined $10M to End Fight Over Claims of Workplace Sexual Misconduct
Jul 31 2023 // Casino mogul Steve Wynn has ended a yearslong legal fight with Nevada gambling regulators that started with claims of workplace sexual misconduct, agreeing to pay a $10 million fine and cut ties to the industry he helped...
Getting Ahead of Submission Overload: The Need for Systematic Prioritization in Commercial Lines Underwriting
Jul 28 2023 // This post is part of a series sponsored by Insurance Quantified. “I Know, You Don’t Have Time to Read This. You’re Drowning in Submissions.” I’ve had the opportunity to spend part of my career...
New Florida Workers’ Comp Rules in Effect for Employer Penalties, Exemptions
Jul 26 2023 // This month, a number of new workers’ compensation rules took effect in Florida, affecting penalties for employers who fail to obtain comp insurance and setting new requirements for exemptions for corporate...
GOP Attorneys General Shift Battle Over Affirmative Action to Workplace
Jul 20 2023 // Thirteen Republican state attorneys general are cautioning CEOs of the 100 biggest U.S. companies on the legal consequences for using race as a factor in hiring and employment practices, demonstrating how the Supreme...
People Moves: AXA XL Insurance Names CNA’s Smith as Head of US Mid-Market Business; Miller Expands US Casualty Team With 2 Hires From Price Forbes
Jul 18 2023 // AXA XL Insurance Names CNA’s Smith as Head of US Mid-Market Business AXA XL Insurance appoints Adele Smith as head of Mid-Market Generalist in the next phase of its targeted U.S. Mid-Market insurance business...
People Moves: Powers Hires Favazza as Commercial Lines Risk Management Advisor; Ryan Specialty Appoints D’Onofrio CEO and Alvin CUO
Jul 13 2023 // Powers Insurance & Risk Management Hires Favazza as Commercial Lines Risk Management Advisor Powers Insurance & Risk Management, headquartered in St. Louis, Mo., hired Giovanni “Johnny” Favazza as...
Arthur J. Gallagher Acquires Benchmark Commercial Insurance Services in California
Jul 13 2023 // Arthur J. Gallagher & Co. acquired Carlsbad, California-based Benchmark Commercial Insurance Services. Robert Cohen and his team will remain in their current location under the direction of Scott Firestone, head of...
People Moves: Aon Names UK Leaders for Reinsurance Solutions; Zurich Announces Key Leadership Roles for APAC Commercial Insurance
Jul 12 2023 // This edition of International People Moves details appointments at Aon and Zurich Insurance. A summary of these new hires follows here. Aon Names UK Leaders for Reinsurance Solutions Insurance broker Aon plc outlined the...
