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The Blog

Our latest insurance articles, insight and news.
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 framework replaces a previous 2021 rule and introduces a comprehensive six-factor test. This test focuses on assessing the "economic reality" of the relationship between a potential employer and a worker. If you run a business, understanding the DOL independent contractor rule 2024 is critical. The agency designed this update to enhance clarity and ensure a more accurate determination of worker classification. Here is what you need to…
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Jan 23

Leveraging Employee Benefits for Mental Health: A Roadmap for Employers

By Employee Benefits
Addressing the mental health and emotional well-being of employees is a crucial aspect of modern corporate culture. Companies are increasingly understanding that happy and mentally fit employees are essential for creating a productive and positive working environment. One way to achieve this is by offering employee benefits designed to support their mental health. These benefits not only help to prevent burnout and reduce stress but can also foster a workforce that is more engaged, resilient, and satisfied.
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Jan 05

Navigating 2024: Market Forecast and Emerging Trends with Kapnick Insurance

By Insurance Update, Market Forecast
In the ever-changing market landscape, new opportunities and challenges emerge each year, making it crucial for leaders to have the necessary tools to navigate uncharted territories. With this objective in mind, we crafted the 2024 Market Forecast to provide you with valuable insights. This forecast is not a mere report; instead, it serves as a powerful tool in the hands of visionary leaders, enabling you to mold your organization’s future. Click here to access the full report, or read on for a brief overview of the trends we're expecting in 2024.
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Nov 22

Rising Commercial Insurance Rates: Strategies to Manage Costs

By Business Insurance, From the Experts, Insurance Update
According to Ivan's Index for the third quarter, rising commercial insurance rates were observed across all primary business lines, except for workers' compensation. Key trends include: Commercial Auto: ⇑ 7% (6.5% in Q3 2022) Business Owner’s Policy: ⇑ 7.74% (7.56% in Q3 2022) General Liability: ⇑ 5.43% (5.21% in Q3 2022) Commercial Property: ⇑ 10.08% (9.77% in Q3 2022) Umbrella: ⇑ 5.29% (5.12% in Q3 2022) Workers' compensation was the only line to see a decrease, with rates dropping by roughly 1%. Decoding the Drivers Behind Rates Several factors contribute to rising commercial insurance rates: Economic Factors: Inflation and economic growth increase exposures, driving up premiums.…
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Oct 17

Securing the Future: How Insurance and Employee Benefits Can Propel Non-Profits Forward

By Employee Benefits
In the ever-evolving landscape of non-profit organizations, financial uncertainty and safeguarding the health of the organization are paramount. Unforeseen circumstances can strike at any moment, negatively impacting financial resources, tarnishing reputations, and complicating fundraising and recruitment efforts. With non-profit risk management solutions, your organization can address these challenges and prepare for future trends.
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