Performance Thinking

Expert information and solutions for your business.

Litigation Funding: A Backseat Driver of Commercial Auto Rates

Businesses have experienced increases in auto premiums for 29 consecutive quarters, according to the third-quarter 2018 broker survey from The Council of Insurance Agents & Brokers (CIAB).  Our Scott team discussed this trend in detail in a blog post in the fall of 2017 and again in our 2018-2019 Property & Casualty Outlook released last year, which noted:

“Distracted driving is the leading cause of accidents and losses. Increased amounts of time spent on the road, inexperienced drivers, a significant rise in fatalities, increased medical costs and increased repair costs are also key factors.”

Additionally, there has been an increase in the number of injury claims that reach litigation and settlements are rising.  One factor that is impacting claims’ litigation and, in turn, rising auto rates is the increase of litigation funding.

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Workplace Implications of Sleep

Sleep is a foundational element in determining one’s overall health and quality of life, with the average adult requiring at least seven hours of sleep per night for the best health and wellbeing.  Even though most people know this, sleep is severely undervalued in our culture, as revealed in a 2013 Gallup poll which showed that 40% of Americans get less than 6 hours of sleep per night.  What many people may not realize is that a lack of sleep leads to negative physical, mental and emotional consequences that have direct and meaningful implications in the workplace.  

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ACA Ruled Invalid in Federal Court, Will Remain Pending Appeal

Healthcare Reform

Last Friday, a federal judge ruled in Texas v. United States that the entirety of the Affordable Care Act (ACA) is invalid due to the reduction of the individual mandate penalty to $0 in the Tax Cuts and Jobs Act, which was passed at the end of 2017. The reduced penalty is scheduled to go into effect beginning in 2019.  As I discussed during our webinar following the midterm elections, this ruling was not unexpected. The White House has stated that the law remains in place, pending appeal, so there is no substantive change at this time.  This case is expected to eventually be heard by the Supreme Court and the constitutionally of the law will once again be determined by our nation’s highest court.  

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Personal Umbrella Insurance Coverage

Umbrella Insurance

At Scott, our Personal Insurance team is committed to helping individuals and families protect their hard-earned assets.  Our dedicated team of professionals provides the highest level of service and world-class insurance coverage, including:

•  Home, including coastal properties and estates
•  Auto, including antique/classic vehicles
•  Motorcycles, ATVs and RVs
•  Boats, yachts and personal watercraft
•  Private aviation
•  Jewelry, fine arts, guns, private collections, etc.
•  Flood and earthquake
•  Workers’ Compensation for domestic staff
•  Professional liability
•  Personal umbrella policies

While most people are familiar with the more common coverages of home and auto insurance, another important coverage that we highly recommend for our clients is a personal umbrella insurance policy. 

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Scott Performance Thinking Resources

At Scott, we strive to create and add value for businesses. We provide expert insights and technical knowledge to help solve problems, create change and improve performance in the areas of risk management and employee benefits.

As a reader of our blog, we hope this has been your experience and that the content our team provides on a regular basis helps inform and elevate your thinking surrounding these critical components of your company’s culture and overall performance.

We’d like to introduce you to some additional free Performance Thinking resources from Scott that can help you improve your business.  

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