Tags ArchivesDerrick Wong

A Post-Pandemic Trend: Retraining from Within standard

As the U.S. economy returns to normal, businesses turn to upskilling their workforce to navigate the challenges of the post-COVID world. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights Companies are facing modern business challenges spurred by the COVID-19 pandemic as organizations are forced to adapt to an accelerated shift to e-commerce. The surging demand for digital services has led to a shortage of available computer analysts and engineers, driving companies to pursue an alternative option to hiring new employees: retraining existing staff. Retailers Respond to Digital Demands The retail industry has seen artificial intelligence play an immense role as consumers increasingly prefer to shop online. However, a tight labor market ...

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What to Look for in Healthcare 2021: A Struggling Hospital Industry and Security Concerns in the Age of Telehealth standard

Hospitals weathered massive financial hits in 2020 and it's likely that COVID-19 will impact the industry throughout 2021. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights The hospital industry faced a massive financial crisis in 2020 caused by the COVID-19 pandemic, as systems struggled with low patient volumes and massive hits to financial resources and liquidity. The pandemic will likely continue to have a substantial impact on the hospital industry throughout 2021, from increased hospital consolidation to a volatile payer mix and a surge in telehealth. Mergers Likely to Increase for the Greater Good Healthcare experienced a significant movement toward hospital consolidation prior to the pandemic, and this trend is likely ...

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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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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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In the Face of Uncertainty, Employers Prepare to Reopen Offices standard

While large corporations can afford to extend reopening timelines, smaller businesses need to rely on prevention, monitoring, and responding to a resurgence of COVID-19 in the workplace for the foreseeable future. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights While many businesses and their employees are eager to return to a sense of normalcy and resume in-office operations, industries across the U.S. continue to face a host of unknowns in the workplace as a result of the ongoing COVID-19 pandemic. The New York Times recently announced that large corporations such as Microsoft, Ford, and Google have tentatively extended their return-to-office date to July 2021 to keep workers safe. Many employers ...

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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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Why Payer-Provider Networks Will Help Health Care Flourish Post COVID-19 standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights Health insurance carriers have made efforts to support subscribers and dependents through the pandemic crisis by waiving cost sharing such as co-pays, coinsurance and deductibles for providers’ office visits, lab fees and treatments related to COVID-19. According to The Wall Street Journal, some major insurers are going the extra mile by financially assisting health care providers as they struggle from the sharp decrease in non-emergency services caused by the pandemic. AHA Moment: Insurers Answer the Call for Help Health care providers, including hospitals, clinics, and doctors, have experienced financial distress during the pandemic due to the delay of elective surgeries and decline in demand ...

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RC Quick Takes – Employee Benefits: The New Form of Recruitment and Retention standard

Choose an insurance broker who's a trusted partner, invested in your success.   Broker Resources The global pandemic has changed workplaces throughout the U.S., placing a spotlight on employers to reevaluate their benefits policies and offerings. The increasingly competitive market for talent requires businesses to use more than salary to attract and retain skilled professionals. Employers are finding employee benefits packages to be a powerful tool for employee recruitment and retention. Auxiliary benefits—those that go beyond medical, vision and dental coverages—can have an outsize impact relative to their cost. Providers often additional incentives to bundle several of these benefits together. Income or job loss due to a short or long-term disability can be financially devastating, but insurance can provide employees with security and financial ...

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Why Big Data Is the ‘New Microscope’ in Health Care standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights Partnerships between technology firms and hospitals play an important role in advancing the objectives of healthcare risk managers. This past Fall The Wall Street Journal reported that technology companies are partnering with hospitals across the country to store and research patient data. One such partnership involves Google and the Mayo Clinic, who jointly signed a 10-year partnership where Google stores medical, genetic, and financial data on its cloud system. The protected health information (PHI) of patients will be kept confidential because the data will be scrubbed such that it will not have any information linking back to a patient. Additionally, The ...

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