Oil and Gas Industry Liability

Claims, Hazards, and Trends in the Oil and Gas Industry

The global energy industry is one of the most important parts of the world economy. Consumers and businesses alike depend on the production of oil and gas for transportation, heating, and manufacturing. New oilfields and gas deposits are continually discovered, helping to secure a stable energy future for the world’s producers and those who rely on energy production. The oil and gas industry is known for significant risk exposures, however, and specialty insurance providers like U.S. Risk Underwriters know that insurance claims in this industry can be complex. Here is an in-depth look at some of the potential hazards faced by the energy, oil and gas industry and the trends that are shaping the industry’s insurance future.

Read more

Cyber Liabilities

Cyber Liabilities in the Financial Sector

Across industries, so-called cyber crimes are on the rise. As businesses shift to digital systems for managing data, personnel, and customer records, cybercriminals have increasingly targeted these systems. The financial sector was especially hard-hit in 2019, with numerous highly-publicized data breaches and cyberattacks well in excess of any other industry. U.S. Risk Underwriters, a specialty provider of risk management solutions for various industries, believes that financial institutions need to understand cyber liabilities to better protect their assets and their customers’ sensitive data from loss. By understanding the risks, financial firms can implement the risk management solutions needed to reduce exposure to cyber threats.

Read more

financial industry employee crime

The Risk of Employee Theft and Crime in Financial Institutions

Financial institutions around the world face significant risks in their operations – both externally and from within. Employee theft and crime, including fraudulent activities, are believed to be the largest risks banks and other financial services firms face. Despite numerous safeguards, financial institutions are vulnerable to criminal activity of employees, who often have access to customer accounts as well as transaction and personal data that can be used for illicit means. U.S. Risk Underwriters, a specialty provider of a number of insurance programs for the financial industry, knows that financial managers and business owners need to understand the risks posed by employee theft and crime.

Read more

U.S. Risk Underwriters

Breaking Down Financial Institution Bonds

Financial institutions face many risks in their business operations, including risks that come from both external and internal sources. One of the primary emerging internal risks plaguing the financial services industry is that of employee dishonesty, which can take several forms. While many safeguards are in place, risk management experts like U.S. Risk Underwriters know that certain types of insurance policies can protect against the illegal acts employees commit in financial institutions. These policies are referred to as financial institution bonds. Here is a look at financial institution bonds, how they work, and what they mean for business continuity in the financial industry. 

Read more

Workers' Comp 2020

Important Workers’ Compensation Coverage Considerations for 2020

Workers’ compensation insurance and other forms of occupational insurance are part of the business landscape for thousands of employers. Typically required by state regulations, these valuable insurance options provide protection for both employees and the companies they work for. At their best, occupational insurance plans like workers’ comp provide financial support in case of workplace-related injury or illness, helping to cover the medical expenses and lost wages of employees injured on the job. As with any government regulations, changes for 2020 may affect workers’ comp and related workplace safety programs. Here is a look at the trends and changes business owners need to know as we enter into the new year.

Read more

Sleep Deprivation

How Sleep Impacts Workers’ Compensation Claims

It should come as no surprise to learn that America’s workforce is fatigued. Long hours on the job and the demands of family life have created a situation where workers have become overtired. Tired workers are more likely to make mistakes on the job, and these mistakes can result in injury. Chronic lack of sleep has also been pinpointed as a cause for numerous health concerns. In all, the lack of sleep among America’s workers has led to a rise in workers’ compensation claims. Occupational insurance plans like workers’ comp provide benefits for those employees injured at work, but it is imperative for business owners and managers to understand the relationship between poor sleep habits and an increase in injury claims.

Read more

Workers Compensation

Workers’ Compensation and Long-Term Occupational Illnesses and Injuries

Workers’ compensation and other forms of occupational insurance provide financial support for employees injured in the course and scope of their duties. Nearly every state requires employers to carry some form of this valuable insurance, which is designed to cover the costs associated with lost wages, medical expenses, and in some cases, long-term disability. Each occupational insurance policy is different, however, and both employers and employees must better understand the potential limitations of coverage for injuries and illnesses resulting in the need for long-term care.

Read more

Trucking and Fleet Risk Management Strategies

Trucking and Fleet Risk Management Strategies

Among business operations, trucking companies and fleet management firms face some of the most diverse and dynamic risks. Transportation is inherently risky, with many moving parts coming together to transfer cargo and personnel across the country. Unfavorable road conditions, vehicle breakdowns, logistical concerns, weather, regulatory compliance – each of these represents a significant challenge for transportation-oriented businesses. U.S. Risk Underwriters, a leading provider of specialty insurance solutions for the transportation industry, knows that fleets must adopt risk management strategies not only to protect cargo and employees but to minimize the liabilities that can negatively impact future business. 

Read more

Distracted Driving A Rising Issue in Transportation

Distracted Driving: A Rising Issue in Transportation

The rise of technologies like mobile computing, onboard navigation, and infotainment systems have given rise to new risks on America’s roadways. Distracted driving is a growing issue across transportation sectors, resulting in billions of dollars in injuries, property damage, and lost revenue each year. Transportation insurance brokers like U.S. Risk Underwriters know that fleet managers must understand this emerging risk as a means of combating the expenses and liabilities associated with distracted driving. By gaining an understanding of distracted driving’s impact, transportation-oriented businesses can better protect drivers, vehicles, and cargo from loss.

Read more

Winter Safety Hazards in the Transportation Industry

Winter Safety Hazards in the Transportation Industry

Winter weather creates unique challenges for the transportation industry. Poor driving conditions, freezing temperatures, and an increased risk of injury are all associated with winter storm activity. The transportation sector already faces numerous risks in its daily operations, and these risks are only compounded in the winter months. U.S. Risk Underwriters, a leading provider of specialty insurance solutions for the transportation industry, knows that fleet owners and operators should be aware of winter-related risks. With this knowledge, drivers and related personnel can be better protected no matter what winter brings. 

Read more