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Business Insurance

May 22

Rethinking Risk Management in Hospitality: A Comprehensive Guide to Work Comp

By Business Insurance, Case Studies
The hospitality industry is an environment where risk management isn't just a smart business practice, it's a lifeline. In an industry that's constantly on the move, serving customers, preparing food, and maintaining complex facilities, managing risk is pivotal to protect employees, customers, and the bottom line. One specific area where risk can be particularly acute is workers' compensation. High turnover, physically demanding jobs, and industry-specific tasks make workers’ comp a critical aspect of overall risk. (more…)
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Apr 23

Alternative Insurance Funding for the Hospitality Industry

By Business Insurance, From the Experts
From the smallest boutique hotels to the grandest of resorts, the hospitality industry’s priority is always the guest's comfort and satisfaction. Amidst this steadfast pursuit, risk management and insurance are often relegated to the background — until moments of crisis. However, the dynamics of the insurance market are changing, leading many forward-thinking hospitality businesses to explore alternative insurance funding models. (more…)
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Apr 17

Unlocking the Potential of Alternative Risk Funding

By Business Insurance, Employee Benefits
Navigating the world of organization strategy involves exploring risk management options. If your traditional insurance costs are higher than you would like, there are various alternative risk funding solutions for both commercial insurance and employee benefits. This blog post illuminates some of the options surrounding self-funded insurance, captives, risk retention groups (RRGs), and stop-loss policies, offering simple explanations on how each model could potentially fortify your organization against uncertainties.   (more…)
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Apr 17

A Leader’s Guide to Cybersecurity Resilience

By Business Insurance
Cybersecurity has moved way beyond just being a trendy term; it's now a core part of keeping a business solid and successful in the tech-savvy world. With all kinds of online threats lurking, having a forward-thinking security game plan is key not just for dodging cyber mishaps, but also for keeping your customers' trust and making sure your operations run smoothly. (more…)
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Feb 26

Protect Your Business’s Future with Trade Credit Insurance

By Business Insurance
In today's unpredictable market, safeguarding your business's financial health is essential. Trade credit insurance represents a pivotal shield, ensuring that your company remains robust against the sometimes-unpredictable tide of trading on credit. Here's why prioritizing this insurance is not just smart but could be imperative for your business’s longevity and prosperity. (more…)
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Jan 23

Understanding the New DOL Definition of Independent Contractor

By Business Insurance
On January 9, 2024, the U.S. Department of Labor issued a final rule to provide a clear definition of an "independent contractor" as outlined in the Fair Labor Standards Act (FLSA). This new rule replaces a previous 2021 rule and introduces a comprehensive six-factor test that focuses on assessing the "economic reality" of the relationship between a potential employer and a worker. The DOL's intent behind this is to enhance clarity and ensure a more accurate determination of worker classification. (more…)
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