Tag: insurance

Jul
09
2018

Commissioner Approves 10.3% Benchmark Rate Cut

by CoreMark | posted in Blog, Newsletter

THANKS TO the reforms enacted in 2014, California Insurance Commissioner Dave Jones has ordered a 10.3% average mid-year decrease to the state’s benchmark workers’ comp rates. The new benchmark rate, which insurers use as a guidepost to price their policies, will take effect on July 1. The benchmark is essentially the base rates that cover expected costs of claims and claims-adjusting expenses across all worker class codes. Insurers can price their policies as they wish, so there is no guarantee that any particular employers will see rate cuts. When pricing your policy, your insurer will take into account your claims…
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Apr
02
2018

Workplace Distractions Hurt Your Employees and Your Business

by CoreMark | posted in Blog, Newsletter

Workplace distractions are ever-present. They reduce workers’ productivity, increase their stress, cause injuries and lower morale. Some are the result of modern technology, but others have been around a lot longer. Following an interruption, it typically takes a couple of minutes to return concentration to work. These short interruptions and recovery periods add up to large amounts of lost productive time. There are a multitude of distractions that can affect employee safety and productivity that employers need to be aware of. Smartphones– Smartphones and tablet computers are a major distraction, especially in office environments. Text messages, alerts and the urge…
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Mar
08
2018

Five Ways to Reduce Accidents among Your Driving Employees

by CoreMark | posted in Blog, Newsletter

We’ve often discussed the scourge of distracted driving in America, brought on in large part due to the use of smartphones and leading to a significant spike in vehicle accidents, injuries and deaths. That in turn has led to a jump in both commercial and personal auto insurance pricing. The risk for businesses is even greater as a careless driving employee can result in a substantial liability claim, particularly if a third party is injured. If one of your drivers is found to have been engaged in distracted driving, any judgment or settlement for a personal injury could easily cost…
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Jan
08
2018

Top 10 Laws, Regulations and Trends for 2018

by CoreMark | posted in Blog, Newsletter

In this article, we focus on the top 10 laws, regulations and trends going into 2018 that employers need to be aware of. New Parent Leave Act Effective Jan. 1, 2018, employers in California with 20 or more workers will be required to provide eligible employees with 12 weeks of unpaid, job-protected leave to bond with a new child. This builds on a 20-year-old law that required only employers with 50 or more staff to provide employees with time off for child bonding. Like the current law, the New Parent Leave Act applies to newborns or a child placed with…
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Nov
14
2017

Checking Insurance Coverage Before Winter Arrives

by CoreMark Insurance Services | posted in Blog

As winter nears, you should review your home and auto insurance policies to ensure adequate protection against the season’s harshest hazards. The easiest way to do this is to contact us to discuss provisions and ask questions. Some policies cover more than others, depending on what you chose at the time of the policy’s activation. These are some important points to remember about winter hazards and your insurance: • Most policies cover damage to homes after trees or other objects fall on them, but do not cover debris removal. • Most policies cover damages from snow accumulation, sleet or ice,…
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Sep
07
2017

Five Tips for Streamlining Your Insurance Policy Audit

by CoreMark | posted in Blog, Newsletter

Are you due for a workers’ compensation premium audit? Audits are how insurance rates are determined, and it’s possible that an audit will uncover information that can actually save you money. Additionally, audits are important to make sure that your employee counts and job descriptions haven’t changed, so that the premium can accurately reflect your current operations. The audit can be stressful, but the key is preparation. These five tips can help you get ready: Tell your broker when there are changes in your staffing, payroll or areas of operation – This is important not just at audit time, but…
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Jun
23
2017

Truckers May Be in for Higher Policy Limits

by CoreMark Insurance Services | posted in Blog

Truckers would be required to purchase insurance with higher limits under a new proposal issued by the Federal Motor Carrier Safety Administration. The FMCSA has submitted a report to Congress, stating that the current minimum coverage of $750,000 for general freight carriers is not enough to cover the costs of damage from some crashes. The reason that it’s no longer enough, the agency says, is due to increasing medical treatment costs for accident victims. The federal agency has yet to recommend the new minimum coverage it would like to see imposed on truckers throughout the country, but it was on…
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May
25
2017

Drug Use Skyrockets among American Workers

by CoreMark | posted in Blog

Drug use is rapidly increasing among American workers, as more states liberalize marijuana laws, cocaine makes a resurgence and more people abuse amphetamines and heroin. A new study by Quest Diagnostics Inc., a workplace drug-testing lab, found that the number of workers testing positive for illicit drugs is higher than at any time in the last 12 years. That puts employers in a tricky predicament, particularly if employees are using at work, which could reduce productivity and also make them more susceptible to workplace injuries since they may not be as focused as they should be on their work. In…
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May
12
2017

Court Decision Shows Extent of Employer Liability for Traveling Employees

by CoreMark | posted in Blog

The employer of a worker who causes damage during their off hours on a business trip may be held liable for them acting “in the scope of their employment,” according to a federal court decision. The ruling will allow the case to go forward after the court declined to uphold the employer’s motion to dismiss it as a defendant in the lawsuit after its employee had caused $147,000 in damage to a hotel room while on a business trip. The employee fell asleep while frying egg rolls on the stovetop in his room, after which a fire broke out. The…
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Apr
12
2017

Venturing Abroad? Your Liability Policy May Not Cover You

by CoreMark | posted in Blog

There may be the occasion when you have to send executives or a team overseas for work. And depending on the destination, the risks will vary – more in some countries and less in others. Other factors that come into play include the number and age of your staff working overseas and what type of activities they will engage in when they are on their work assignment. First off, your current liability insurance may cover the basics if your staff are there on a short-term assignment. For example, if one of them injures someone while driving a car in the…
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