Category: Property & Casualty

Measuring Fleet Performance: Turning Data into Safer Drivers and Lower Costs

For many organizations, fleet operations are a necessary part of doing business. Vehicles need to be on the road, and incidents are often treated as an unavoidable outcome. However, the financial impact tells a different story.

A single lost-time claim can cost approximately $40,000 in direct expenses. When indirect costs are included, such as lost productivity, rehiring, and downtime, that number can approach $100,000 per incident. Even relatively minor accidents can become expensive. In one case, a low-speed parking lot incident resulted in a $130,000 settlement due to limited documentation and a lack of supporting data.

These outcomes highlight an important reality. Fleet performance is not just an operational concern. It is a controllable driver of financial results. Continue reading

Cyber Risk: Trends to Watch & What Smart Companies Are Doing About It

Cyber losses for small and mid-sized enterprises (SMEs) are climbing. The costliest incidents increasingly involve business interruption. Ransomware and business email compromise (BEC) remain the top drivers …Continue Reading

Reducing Injury Risk with Post-Offer Medical Questionnaires

Workplace injuries in physically demanding industries like construction, hospitality, manufacturing and transportation are costly, with heightened risk early in employment. A recent report conducted by Travelers found that in the last five years, workplace injuries during an employee’s first year on the job accounted for approximately 36% of all injuries and 34% of overall claim costs. While costly, these injuries are often preventable. By implementing a Post-Offer Medical Questionnaire (POMQ), employers can reduce injury risk, improve hiring outcomes and strengthen their legal defense in case of a claim. Continue reading

Preparing for Increased Worksite Enforcement

From actions taken during the first few months in office, it is clear immigration is a key priority for the current U.S. Presidential administration. With an estimated 8.3 million undocumented individuals in the current U.S. workforce, accounting for 5.2% of the total workforce, employers must be prepared to navigate the increased focus on immigration enforcement.

Concern Over Increased Worksite Enforcement Actions

Many U.S. employers are concerned about increased worksite enforcement actions and the potential business impacts.

In a recent Scott Insurance Performance Thinking Webinar, Shanon Stevenson, Partner and Co-Chair of the Immigration Practice Group at Fisher Phillps, shared the following insights about recent events:

Continue reading

Navigating Insurance Challenges in Affordable Housing: Rehabs vs. New Construction

Preserving existing affordable housing is a critical component of addressing America’s affordable housing shortage. However, affordable housing developers focused on rehabilitating, or “rehabbing,” older properties face many challenges beyond the risks associated with new construction. Continue reading