Categories ArchivesInsurance 101

RC Quick Takes – Amazon’s Workers’ Compensation Issue: A Learning Opportunity for Employers standard

An abundance of injuries in Amazon warehouses may damage more than just the e-commerce behemoth’s reputation. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights The hazardous working environments within its warehouses could begin to hurt the company’s bottom line as well. Amazon’s Fulfillment Centers are Deemed Unfulfilling  According to the Seattle Times, Washington state’s labor agency reported that workers in Amazon’s highly automated warehouses are injured at a higher rate than people working in other types of storage facilities. In December, the labor agency announced a new fulfillment center classification for warehouse employees to calculate workers’ compensation insurance rates. Previously, the State Department of Labor & Industries has grouped Amazon fulfillment ...

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RC Quick Takes – Contingent Business Interruption Coverage in the Wake of Solar Winds standard

Businesses of all sizes should revisit their cyber insurance policies in the aftermath of this widespread attack.   Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights Adding insult to a severely injured year, the waning days of 2020 saw a massive breach aimed at the U.S. government and other private businesses.  Perhaps no entity experienced the greatest fallout than SolarWinds, an Austin-based company developing software that helps businesses manage their IT infrastructure. Orion, network monitoring software developed by SolarWinds,  became infected with malicious code which then infected approximately 18,000 SolarWinds customers.  Several of the impacted companies include household names such as Intel, VMware, Deloitte, and Belkin. Businesses of all sizes should ...

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Effective Paid Leave Policies Are Good For Business standard

The pandemic has revealed vulnerabilities in the U.S. healthcare and economic systems, including the absence of prolonged, comprehensive paid family, medical, and sick leave to support workers and public health. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights The COVID-19 pandemic has made evident the vulnerabilities in the U.S. healthcare and economic systems. One issue that has been at the forefront during the current crisis is the absence of prolonged, comprehensive paid family, medical, and sick leave to support workers and public health. Prior to the pandemic, the U.S. was an outlier among developed countries due to the lack of national leave policies, which forced a vast majority of workers ...

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How EAP Benefits Can Support Employee Mental Health standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights With the present COVID-19 pandemic, many organizations have moved to teleworking environments for the health and safety of their employees. This instant changeover coupled with widespread uncertainty and strict government guidelines affecting daily life has created a space where new or existing mental health issues, such as anxiety and depression, are amplified for many employees. As a result, a growing number of Americans – as many as 41%, according to the CDC – are experiencing mental or behavioral health challenges as they adjust to their new remote working arrangements. With nearly 80% of CEOs reporting that telework is here to stay, ...

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What Coverages Are Needed & When standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights Insurance is a necessary function for organizations, although not all view this coverage as strategically as they should. As an organization navigates its growth cycle, from start up to multinational corporation, insurance needs will vary. Early stage companies often are driven by compliance when purchasing coverage, yet leveraging insurance and risk transfer solutions more strategically can help younger organizations become more resilient, transfer financial risk, and withstand many of the uncertainties companies of all sizes will face throughout their operating years. As organizations evaluate their insurance needs, they can compartmentalize key coverages for consideration into phases that match their current size ...

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Optimize Your Broker Partnership standard

Risk Cooperative helps organizations navigate the complex world of health insurance and employee benefits.  Learn More Running a business presents many challenges but working with your insurance broker should not be one of them. The client/broker relationship works best for all parties when it’s viewed as a valued partnership, with clearly articulated expectations. Poor customer service, unresponsiveness, and general lack of support are a few of the many reasons businesses become dissatisfied with their brokers. Many frustrations can be avoided when the client and the broker have a common understanding of not just the service that is to be expected, but also the roles of the broker and the insured.  This clarity and accountability upfront help to maximize the value ...

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Making Your Broker Selection standard

Risk Cooperative helps organizations navigate the complex world of health insurance and employee benefits.  Learn More Whether you need a comprehensive benefits package or general liability coverage, your insurance broker should be a valued partner that inspires trust. A client/broker relationship should identify the organization’s financial and business needs, leading to a strategic approach toward reaching the client’s benchmarks and achieving long-term goals. But finding clear advice about how to choose your broker can be difficult. In this article, we answer some basic questions to help you in your decision. Q: Why should you use a benefits broker? A: Benefits brokers provide many advantages in addition to helping a business procure health insurance, including: Improved Talent Recruitment and Retention | The market ...

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How to Choose Your Broker standard

In How to Choose a Broker our experts share insider tips on what great brokers do to arm their clients with the information they need to serve their employees and protect their businesses. They cover: • Best practices for broker/client communications • What your broker can do to save you money on employee benefits • Resources your broker can offer to support regulatory compliance • How your broker can help you manage the administration of your benefits package • The value of utilizing a broker that can handle all lines of insurance • How a broker can help address risk across business operations • Questions about pandemic resiliency and recovery It can be quite costly – in time, money, and opportunity – to stay with a broker ...

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What is Tech E&O insurance? standard

Risk Cooperative helps organizations build cyber resiliency and implement pro-active cyber risk management strategies.  Learn More Imagine you are the CEO of a software company and you experience a ransomware attack that not only affects you but also hundreds of your clients? This situation occurred during the summer of 2019 when The Digital Dental Record and PerCSoft collaborated on a software solution for dentist offices called DDS Safe. According to the technology website ZDNet, ransomware called REvil was spread to hundreds of computers in dentist offices around the country through DDS Safe. While the makers of the software paid the ransom so that these offices could gain access to their systems with important medical records, there were reports of some offices ...

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Crisis Preparedness Checklist standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights This is the third and final installment of our business resiliency best practices, outlining preparedness elements to have in place before a crisis. Part one offers guidance on responding to an active crisis. Part two addresses components of a post-crisis recovery. As you implemented your crisis response and recovery strategies, you no doubt realized that the most effective way to respond to a business interruption incident, be it cyber attack, global pandemic, natural disaster, etc., is through careful preparation. Whether your crisis plan was not sufficiently detailed, had out-of-date information, or for some other reason was less than ideal, the ...

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