Trench Safety Stand-down (TSSD) Week is scheduled for June 19-23, 2023. Each year, the National Utility Contractors Association (NUCA) holds this event to encourage employers to talk to their employees about trench safety and reinforce the importance of utilizing protective systems (e.g., sloping, shoring and shielding) to safeguard workers from trenching and excavation hazards. The event coincides with Trench Safety Month, which takes place throughout the month of June. This article provides more information on…

Recent events have changed the trajectory of the E&S marketplace, especially for catastrophe-exposed property accounts. While it looked as though 2023 would bring a deceleration of rate increases, factors including CAT weather events, inflation, valuations, and reinsurance renewals have changed this path and we find ourselves in a continued hard property market for the foreseeable future. 2023 Catastrophic Property Events Whether you blame climate change or bad luck, catastrophic weather events have played a major…

In recent years, factors such as the COVID-19 pandemic, labor shortages, natural disasters, and production issues have contributed to supply chain disruptions worldwide, impacting high-end consumer products as well as basic commodities, such as generic drugs and energy. Below are some suggestions for how businesses can limit their exposure to supply chain disruptions: Diversify supplier base. Using a single supplier can disrupt a business’s entire supply chain should an issue arise. Having a diverse supplier base…

In a time when layoffs and foreclosures are widespread, your firm may be forced to manage vacant property. The insurance risks and liabilities associated with owning unoccupied property can be extensive. To ensure you are adequately protected, it is important to know the risks you confront. In addition to purchasing comprehensive insurance coverage, there are numerous preventive strategies for maintaining vacant property to reduce risk and liability. Potential Risks There are a host of risks…