THE COUNCIL’S Q2 2023 P/C MARKET SURVEY REVEALS GROWING FATIGUE AMONG INSUREDS DUE TO HIGH RATE INCREASES, DEMANDING RENEWALS
Premium increases remained stable in Q2 2023, with an average increase of 8.9% across all account sizes, up slightly from the previous quarter’s 8.8%. This marked the 23rd consecutive quarter of increases. Similarly, most lines of business recorded increases roughly comparable to or slightly higher than Q1. Cyber was a notable exception to this with an increase of 3.6%, down from 8.4%, one of the strongest signs of relief seen so far for cyber. Commercial property was also a standout. Premiums climbed by 18.3% in Q2 2023, the highest out of all lines of business.
As a cost-effective alternative to Hospital Outpatient Departments (HOPD), Ambulatory Surgery Centers (ASC’s) across the country continue to experience an increase in Outpatient case volume. This rise in volume opens the door for decision-makers to unintentionally compound their practice’s vulnerabilities from a coverage standpoint. With that said, how can providers effectively capture this growth in encounters while ensuring their practice’s exposures are adequately safeguarded?
Driver Qualification and Selection – RHSB Risk Control Guide
One of the best ways for a company to help prevent vehicle accidents is through an annual driver qualification and selection process. Regularly updating and implementing the program can help ensure your company has a reliable, skilled, safety-focused employee who is qualified to safely operate your vehicles. Below are some guidelines to help implement and improve the driver selection and qualification program.
California Supreme Court Restricts Use of Independent Contractors
The California Supreme Court issued a decision that embraced a standard presuming that all workers are employees instead of contractors, and placed the burden on any entity classifying an individual as an independent contractor of establishing that such classification is proper under the newly adopted “ABC test”.
DCFR Global Risk Series – Complex Systems Approach Provides Global Problem-Solving Edge
Recap from Global Transformation of Societies: Implications for Business and National Security,” part of the 2017 Global Risk Series. How the world is not governed by smooth trends but sharp transitions.