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Category: Risk Management
The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.
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Diversity, Equity and Inclusion Considerations
November 9, 2021
Each member of a board of directors brings their personal and professional life experiences to the table, making it imperative for a nonprofit to elect a diverse and inclusive group. Since the board strategizes and supervises the organization’s direction, having diverse experience, expertise and perspectives can put the nonprofit in a strong position to promote…
Read MoreOSHA Reveals the Top 10 Most Cited Standards for the 2021 Fiscal Year
November 4, 2021
Using preliminary data, the Occupational Safety and Health Administration (OSHA) recently revealed its top 10 most frequently cited standards in the 2021 fiscal year. This information is valuable for businesses of all kinds as it helps them identify common exposures that affect their workforce and gives them the information they need to plan their compliance…
Read MoreU.S. Commercial Premiums Continue to Cool, but Cyber Rates Soar
October 21, 2021
Premiums for commercial property and casualty (P&C) insurance lines once again increased in the second quarter (Q2) of 2021, led by a 25.5% jump in cyber. Q2 marked the 15th consecutive quarter of U.S. commercial P&C premium increases—8.3% across all-sized accounts, according to The Council of Insurance Agents and Brokers (CIAB) Commercial Property/Casualty Market Index.…
Read MoreCyber Case Study: SolarWinds Supply Chain Cyberattack
October 17, 2021
In the final month of 2020, it was revealed that foreign hackers had orchestrated a supply chain cyberattack throughout the past year in an effort to compromise several federal agencies and private organizations. The cybercriminals first infiltrated the digital infrastructure of SolarWinds—a Texas-based technology company—before using that infrastructure to gain access to sensitive data from…
Read MoreDashboard Camera Considerations
October 12, 2021
Although an organization may benefit from utilizing vehicles, doing so can also carry numerous exposures. Specifically, drivers who engage in unsafe behaviors behind the wheel could contribute to costly road incidents. Even if an organization’s drivers weren’t responsible for causing such incidents, other motorists or pedestrians might still try to blame them, thus resulting in…
Read MoreFive Strategies for Reducing Workers Comp Costs
October 3, 2021
When a company experiences significant increases in workers’ compensation costs, it usually triggers internal activities aimed at reducing insurance costs and spending. The key to spending fewer dollars is more than just stopping a few accidents; it is having a sound safety program designed to continuously improve. This is where a safety program that, at…
Read MorePresident Biden Offers Additional Financial Support to Small Businesses
September 23, 2021
President Joe Biden’s administration is ardently increasing its efforts to get more Americans vaccinated against COVID-19 as the coronavirus Delta variant rages across the country. Over the past several weeks, the White House has been gradually releasing sweeping COVID-19-related mandates. These include vaccine mandates for nursing home employees, federal workers and federal contractors. The government…
Read MoreCyber Liability: Lessons From the Colonial Pipeline Breach
September 16, 2021
One of the nation’s largest pipelines was forced to shut down in early May 2021 after falling victim to a ransomware attack. The 5,500-mile pipeline is operated by Colonial Pipeline and carries refined gasoline and jet fuel from Texas to New York. This pipeline transports 45% of the east coast’s fuel supplies. The attack—carried out…
Read MorePresident Biden Announces COVID-19 Vaccine Mandates for Federal Employees and Large Employers
September 12, 2021
On Thursday, Sept. 9, 2021, President Joe Biden signed executive orders requiring federal workers and contractors to get vaccinated against COVID-19. Biden also directed the Occupational Safety and Health Administration (OSHA) to draft a new emergency rule requiring all businesses with 100 or more employees to ensure all of their workers are either tested for…
Read MoreCritical Infrastructure Cyberattacks on the Rise
August 31, 2021
Critical infrastructure cyberattacks are increasing in frequency according to Advisen’s loss database, and some experts are worried the worst is yet to come. There are sixteen industry sectors in the United States that make up the country’s critical infrastructure. These sectors are considered so vital their incapacitation or destruction would have a debilitating effect on…
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