News - Tools & Intel | CRC Group
Self-Insured Workers' Compensation Often Leaves Expensive Coverage Gaps

Self-Insured Workers' Compensation Often Leaves Expensive Coverage Gaps

Risk isn't static. Strategies that worked well in the past may no longer fit an organization's evolving risk profile. That's particularly true for workers' compensation. Claims costs continue to rise, driven by medical inflation and legal and social trends. Today, businesses and municipalities that have long self-insured their workers' compensation programs face challenges obtaining excess coverage at their planned levels, exposing them to bigger claims. An innovative program can bridge those gaps and stem growing financial exposures as long-tail claims develop over time. Working with a specialist with deep knowledge of the markets and access to these special programs can help build an effective workers' compensation program that protects employees and the organization.

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Partnering With a PEO? Watch Out for EPL Coverage Gaps

Partnering With a PEO? Watch Out for EPL Coverage Gaps

In today's economic environment, many companies have difficulty hiring and retaining sufficient staff to operate. More small and mid-sized companies without dedicated internal administrative or HR staff partner with Professional Employer Organizations (PEOs) to help offload administrative burdens. In addition to providing HR, benefits, and payroll administration, PEOs often offer Employment Practices Liability (EPL) coverage to protect client companies against employee claims of wrongful termination, retaliation, harassment, discrimination, or other workplace claims.

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Florida Market Still Reeling from Surfside Condo Collapse

Florida Market Still Reeling from Surfside Condo Collapse

The deadly collapse of a 12-story beachfront condominium north of Miami Beach sent shockwaves through the Florida insurance market. One wing of the 40-year-old Champlain Towers in Surfside, Florida, crumpled to the ground suddenly on June 24, 2021, killing 98 people. Several carriers have exited the Florida property market as total settlements rise to more than $130 million, and others are pulling back on property and liability coverage. Faced with the potential for steep losses, insurers are raising rates and deductibles and becoming much more selective. In such a challenging market, it’s crucial to work with experienced, knowledgeable brokers who can provide guidance through a more complex, demanding placement process.

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2022 State of the Insurance Market

2022 State of the Insurance Market

When faced with the promise of a new year, many people look ahead – leveraging lessons from the prior year to chart a path forward, overcome obstacles, and reach for a new goal. The best in the insurance industry often do the same thing as they examine market conditions and strive to meet client needs in an ever-evolving landscape.

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Multi-Factor Authentication (MFA): A Must Have for Cyber Coverage

Multi-Factor Authentication (MFA): A Must Have for Cyber Coverage

Over the last few years, the rate of ransomware attacks and other cybercrimes have skyrocketed in both frequency and severity. As employees continue working from home due to the lingering pandemic, they create, access, and share more data remotely, causing the number of security blind spots to balloon and creating space for costly attacks.

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Disability Insurance: Protection When Illness or Injury Strikes
Disability Insurance: Protection When Illness or Injury Strikes
Recent Cosmetic Product Law Could Increase Recall Risk
Recent Cosmetic Product Law Could Increase Recall Risk
2023 Habitational State of the Market – Casualty
2023 Habitational State of the Market – Casualty
AI in Healthcare: Big Benefits, Bigger Risks?
AI in Healthcare: Big Benefits, Bigger Risks?
Social Inflation & Growing Demand Drives Hard Market for Security Guard Services
Social Inflation & Growing Demand Drives Hard Market for Security Guard Services
2023 Habitational State of the Market – Property
2023 Habitational State of the Market – Property
Florida Senate Bill 4-D: What Does it Mean for Condo Associations?
Florida Senate Bill 4-D: What Does it Mean for Condo Associations?
Errors & Omissions REDY® Index November 2023
Errors & Omissions REDY® Index November 2023
Louisiana Assignment of Benefits Ban a Win for Insureds & Carriers
Louisiana Assignment of Benefits Ban a Win for Insureds & Carriers
Protect Your Business with Endpoint Detection & Response Security
Protect Your Business with Endpoint Detection & Response Security
Home-Share Rentals: Are Your Clients’ Covered?
Home-Share Rentals: Are Your Clients’ Covered?
Nevada Bans Defense-Within-Limits for Liability Insurance
Nevada Bans Defense-Within-Limits for Liability Insurance