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New Data Privacy Laws Could Mean Big Changes in Insurance
Data privacy concerns have been bubbling up under the surface for years now. With the House of Representatives having taken up legislation on the issue, privacy will be at the forefront of industry leaders’ minds moving into 2023. What could all this mean for the insurance sector? Let’s talk about that. Proactively Managing Your Data […]
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It’s Difficult to Quantify Social Inflation, But it’s Crucial to Comprehend
Social inflation affects our industry in big ways, but many of us don’t understand what it is or how it’s doing it. Here, we’ll break social inflation down, discuss it, and gain an understanding of what we can do as an industry to combat it. What Social Inflation Is In addition to general economic inflation, […]
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AI in Risk Management
When it comes to risk management, artificial intelligence (AI) is quickly becoming a game-changer. By automating repetitive tasks and analyzing data more efficiently, AI is helping insurance professionals and risk managers free up time to focus on more strategic initiatives. Understanding What AI Is Artificial intelligence (AI) technologies are computer systems designed to simulate human […]
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The Effect of Inflation on Workers’ Compensation Insurance
It’s no surprise that inflation is getting its dirty little fingers into everything these days. Chip shortages, supply chain issues, OPEC…the list goes on and on. With a global economy comes global issues, and right now, it’s pretty painful. Even groceries now cost more than a short time ago. So how is inflation hitting workers’ […]
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1099 Contractors – They Need Certificates of Insurance
One of the best ways to mitigate risk is to routinely request, obtain, verify, and monitor contractor proof of insurance (certificates of insurance) from independent contractors providing services for you, such as janitorial, maintenance, or building contractors, in order to verify that they are insured against their liabilities and/or workers’ compensation. Workers’ comp is wildly […]
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Building Your Handmade COI Form Example for Faster Review
Manually processing your company’s certificates of insurance (COIs) can take a lot of time, especially if your company hires a large volume of subcontractors or other third parties. Using a certificate of liability insurance form example as a guide can reduce your review time. By having a template to work off, you can spot inaccuracies […]
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