Employers need to support the resiliency of their workforce amid ominous economic conditions in 2023. Below is a summary. Additional details are outlined in the full article, written and published by Risk & Insurance. Read Full Article In the current inflationary environment and weakening labor market, the purse strings of Americans continue to tighten. Already, more than 40% of households are unable to handle a $400 emergency. How can organizations help their workers withstand the economic challenges ahead? Key takeaways: Supporting Employees via Emergency Savings | Offering access to an emergency savings platform offers workers a wholly-owned savings account directly connected to payroll. Employees can designate regular contributions and employers are able to provide economic incentives for participation that encourages ...
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The vast majority of truck drivers work long hours that can put their health — and the safety of others on the road — at risk. Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance. Read Full Article Long-haul truckers face extreme health risks due to their lifestyle, but there are things that can help. Healthier truckers mean fewer claims and safer roads for everyone. One solution is for trucking companies to coordinate with insurance carriers to provide wellness benefits tailored to truckers’ unique needs. Key takeaways: Most drivers are paid only when driving. | Loading, unloading, inspections and other tasks are necessary parts of a truckers job – however, most drivers ...
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Reviewing our predicted 2022 hurdles to pandemic recovery, we take a fresh look at how these issues are still at play one year later. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk. Subscribe to Insights As the world enters the fourth year of the COVID pandemic, it is increasingly clear as new ripples of impact spread from the initial catastrophic health crisis — we aren’t in the clear just yet. One year ago we predicted four particular challenges to pandemic recovery we would need to grapple with in 2022. How have the events that transpired over the intervening months aligned with our predictions? Let’s see. U.S. Local, State, and Federal Governments ...
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As climate-related disasters increase, insurers need to rethink their approach to insuring against the risks posed by climate change. If they want to stay in business, they must make combatting climate change part of their business model. This piece was written for the Diplomatic Courier’s 2nd annual COP edition, COP27: The Sustainability Roadmap. Learn More Hurricane Ian’s devastation is pushing already strained insurers in Florida to the brink of collapse, and demonstrated that rate increases and restricted coverage are not enough to protect their bottom line from threat of climate change here and now. Key takeaways: The Cost of Doing Nothing | The status quo leaves insurers to retreat from the barely profitable property and casualty market while millions of ...
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In the ‘new normal’, companies of all sizes have prioritized operational resiliency, yet succession planning remains a large gap for many small- to mid-size business. Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance. Read Full Article Growing companies often purchase additional insurance coverages to better mitigate risks exposure, including that of its board and directors. Yet an often-overlooked component can leave companies vulnerable to financial ruin: the buy-sell agreement. Key takeaways: Employees Depend on the Resiliency of Small Businesses | Less than half of SMEs have succession plans in place, making difficult ownership transitions even more so. In the U.S. there are 6 million privately held firms with multiple employees ...
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Despite surging demand for their services, low wage home health workers are often without proper healthcare themselves. Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance. Read Full Article Despite the widespread availability of employer sponsored health insurance, low wage workers, particularly in the health care sector, continue to face overwhelming challenges to obtain adequate, affordable coverage. Key takeaways: Health Care Includes a Large Number of Low Wage Workers | There are nearly 7 million support, direct care, and service workers in the healthcare industry, and many make significantly less than the average U.S. wage. The Rising Costs of Health Care Effects Them on Two Fronts | First, the employee contribution for ...
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M&A is surging in health care. Les Williams weighs in on the risks and rewards of industry mergers and acquisitions. Below is a summary. Additional details are outlined in the full article, written and published by Risk & Insurance. Read Full Article “Health care is like the perfect storm of complex billing, complex staffing, complex operations,” said Les Williams, co-founder and chief revenue officer at Risk Cooperative, in an interview for a piece written by Autumn Demberger at Risk & Insurance®. This piece is a natural follow up to an article he authored on the topic of changes in the health care industry after Anthem rebranded as ElevanceHealth. It analyzes the trend towards new M&A deals in health care over ...
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While airline profitability remains elusive and traveler numbers unpredictable, the industry must look at ways to mitigate airline business interruption risk. Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance. Read Full Article The recent U.S. District Court ruling overturning the mask mandate is a clarion call that “America is officially open for business,” but it comes at a precarious time. Key takeaways: Pilot Shortages & Curtailed Schedules | Combined with high fuel prices, the drastic shortage of approximately 8,000-12,000 pilots has resulted in fewer destinations, and fewer flights. Expect Delays for Summer Travel | As the U.S. emerges from COVID-19 lockdowns, air travel is increasing while the busy travel season kicks ...
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Using demographic information as a proxy for assessing risk, traditional underwriting models have created unequal access to insurance. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk. Subscribe to Insights Historically, models used by insurance companies in the U.S. have adversely affected the ability of poor and non-white individuals to obtain adequate coverage. Using zip codes, home ownership status, credit scores, and other demographic information as a proxy for assessing risk, traditional underwriting models have created unequal access to insurance as a financial safeguard, and consequently reduced some families’ ability to build generational wealth. Longstanding bias in traditional insurance pricing models There are laws against discrimination in underwriting, including some, like the ...
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Disruptions to the global supply chain, made vulnerable by COVID and destabilized by war, could be exacerbated by Russian sanctions. Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance. Read Full Article As the conflict in Ukraine continues to unfold and the world anxiously awaits a peaceful resolution, the effects of Russia’s aggressions are reverberating around the globe. Key takeaways: Impacts of Sanctions & Shortages | With billions of dollars removed from the Russian economy by sanctions, shipping embargoes, and the voluntary closure of corporate operations, limited production of critical resources the region is adding to the current economic pressures. Revisiting Political Risk Insurance | Firms have been too complacent in terms ...
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