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The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.

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Cyber Liability Cybersecurity Awareness Programs Benefits and ImplementationCyber Liability Cybersecurity Awareness Programs Benefits and Implementation

Cyber Liability: Cybersecurity Awareness Programs: Benefits and Implementation

May 12, 2024
Businesses of all sizes are susceptible to cyberattacks such as phishing scams, malware attacks and ransomware schemes, which can create significant financial loss and lead to major reputational damage. Therefore, businesses need to take measures to mitigate cyber risk. Implementing a comprehensive cybersecurity awareness program is one of the most important strategies for recognizing and…
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Benefits and Risks of Rooftop Solar Panels for Commercial Properties

Benefits and Risks of Rooftop Solar Panels for Commercial Properties

April 24, 2024
Although solar panels can provide significant financial, environmental and reputational benefits, they can present various risks and be susceptible to damage from several sources. Therefore, as the popularity of solar panels increases, commerical property owners need to be aware of their benefits and disadvantages to make the best decision for their buildings. Solar Panels’ Benefits…
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ACA Information Reporting Penalties Increased for Returns Filed in 2025

ACA Information Reporting Penalties Increased for Returns Filed in 2025

April 12, 2024
IRS Revenue Procedure 2023-34 includes updated penalty amounts that may apply to reporting entities that fail to comply with the Affordable Care Act’s (ACA) requirements under Internal Revenue Code Sections 6055 and 6056. The increased amounts apply to 2024 information returns and individual statements that are required to be filed and furnished in 2025. General…
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5 Common Cybersecurity Myths Debunked

5 Common Cybersecurity Myths Debunked

March 24, 2024
Cybersecurity consists of strategies implemented to help protect organizations from cyberattacks and related losses. Such defense has become increasingly important as businesses of all sizes and sectors expand their reliance on technology and other digital services. Yet, there are several misconceptions about cybersecurity that diminish the value of effective mitigation strategies and may leave organizations…
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Trucking Risk Insights - Trucking Industry Trends to Watch in 2024

Trucking Industry Trends to Watch in 2024

March 12, 2024
Trucking industry conditions are constantly evolving, and businesses in the truck transportation subsector need to be aware of the changing landscape to maintain operational success. This year, trends that could impact the industry include economic challenges, driver shortages, social inflation contributing to rising commercial auto insurance rates, and utilizing electronic vehicles (EVs) in compliance with…
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Identity Theft Resource Center Reports Data Compromise Record with Three Months Left in the Year

Cyber Update – Identity Theft Resource Center Reports Data Compromise Record with Three Months Left in the Year

October 18, 2023
A data breach report from the nonprofit Identity Theft Resource Center (ITRC) found that there were 2,116 publicly reported data compromises in the U.S. market during the first nine months of 2023. This figure represents the most in a calendar year, and there are still three months to go. The previous high mark was set…
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7 Factors Driving Commercial Property Insurance Costs

7 Factors Driving Commercial Property Insurance Costs

September 14, 2023
Several cost-driving trends have contributed to the hard commercial property insurance market. This environment has led to continuous rate increases and other challenging conditions. In these circumstances, it’s crucial for businesses to understand why premiums have been rising. This article discusses seven factors currently impacting commercial property insurance costs. Contact Ollis/Akers/Arney Insurance & Business Advisors…
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2023 Cyber Insurance Midyear Market Outlook

2023 Cyber Insurance Midyear Market Outlook

July 8, 2023
Increasing threat vectors and growing attacker sophistication have consistently driven up cyber incidents in recent years, causing a rise in cyber insurance claims and related losses. Alongside unprecedented segment growth, such challenging market conditions led to most insureds experiencing steep rate hikes, additional underwriting scrutiny and various policy restrictions— particularly pertaining to coverage for ransomware,…
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U.S. Senate Sends Debt Ceiling Bill to White House

U.S. Senate Sends Debt Ceiling Bill to White House

June 4, 2023
On June 1, 2023, the U.S. Senate passed the Fiscal Responsibility Act of 2023 to raise the debt ceiling by a bipartisan vote of 63-36 only three days before the United States risked defaulting on its debt for the first time. The U.S. House of Representatives approved the bill on May 31, 2023, by an…
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EEOC Issues Guidance on Artificial Intelligence and Title VII of the Civil Rights Act

EEOC Issues Guidance on Artificial Intelligence and Title VII of the Civil Rights Act

May 21, 2023
On May 18, 2023, the Equal Employment Opportunity Commission (EEOC) issued new guidance aimed at helping employers that use automated systems, including those with artificial intelligence (AI), comply with federal fair employment laws.  The new guidance focuses on preventing discrimination under Title VII of the Civil Rights Act (Title VII), which applies to employers with…
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