Labor Crunch Increases Construction Risks, Liabilities

The ongoing labor shortage affecting the construction industry is leading to increasing exposure for contractors due to a number of risks. Working short-staffed or with employees new to construction can lead to increased workplace injuries, which in turn can result in higher workers' compensation premiums. It can also result in shoddy work that needs to [...]

Business Interruption Increasingly Key Part of Cyber Insurance

As ransomware and other cyber attacks increasingly hobble victim company's ability to operate in the wake of an attack, more cyber insurance policies are including business interruption coverage. When these policies first hit the market, they were mostly focused on covering the costs of notifying individuals whose personal data or credit card information may have [...]

Growing Risks of Benefits, Payroll Platforms

There is a growing threat to companies that use online services to administer their employee benefits and payroll as cyber criminals increasingly exploit these cloud service platforms. The results of a hacker gaining access to the company's payroll systems, sloshing with cash, as well as employees' personally identifiable information can be devastating both to the [...]

Study: New Tech Helps Stop Trucks from Rear-Ending Vehicles

A study from the Insurance Institute for Highway Safety (IIHS) reports that driver assistance technologies, such as automatic emergency braking and forward collision warning systems, have been shown to reduce accident rates among large trucks. Increased use of these systems in these vehicles should prevent countless deaths and injuries and save millions of dollars. The [...]

Firms That Pay Ransom to Cyber Criminals Are Often Hit Again

A new study has found that one-third of companies that are hit with ransomware and pay the hackers to unlock their systems, are often likely to be targeted a second time. And after they pay, they are often faced with significant fallout, including system rebuilding costs, their data still being leaked and financial implications, according [...]

Many Injured Workers Feel Unsupported, Frustrated by Claims Process

A recent study has found that injured workers are often left feeling frustrated and fending for themselves after they file a workers' compensation claim. The survey of injured workers by researchers at the University of Waterloo in Ontario, Canada found that workers reacted in a number of ways when experiencing "procedural" unfairness, frustration in how [...]

Litigation Grows Over Wire-Transfer Fraud Coverage

Businesses hit by wire transfer scams are increasingly finding it difficult to get their claims paid under their insurance policies unless they have either a crime or cyber insurance policy that covers "computer fraud." Wire fraud occurs when an employee is duped by someone posing in an e-mail as a company executive or trusted client [...]

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