Industry News
Safe Cloud Computing for Contractors
Author, Drew Garcia, Vice President, Landscape Group, Rancho Mesa Insurance Services, Inc.
Even prior to the COVID-19 pandemic, many construction companies were utilizing some form of cloud-based systems to effectively streamline business operations and increase accessibility of information. While hosting sensitive data in the cloud has many benefits like shared access to data, applications and storage, there are some risks contractors should take into account before relinquishing their data to the cloud.
SB 1159 Is Now Workers’ Compensation Law
Author, Dave Garcia, President, Rancho Mesa Insurance Services, Inc.
As expected, California Governor Newsom signed Senate Bill 1159 (SB 1159) into law Thursday, September 17, 2020 and it will have several impacts on workers’ compensation and the presumption of the claim. Below is an outline of some of the more important elements of SB 1159. In simple terms, just remember three numbers, 4/4/14 - I’ll explain, later.
Excess/Umbrella Rates Experiencing Alarming Price Jump
Author, Sam Clayton, Vice President of the Construction Group, Rancho Mesa Insurance Services, Inc.
As if the 2020 business landscape has not already been challenging enough, a hard market for excess/umbrella is occurring at a concerning rate, resulting in rising premiums, limited capacity and a restriction in terms and conditions.
Bond Companies Thoroughly Track Status of Construction Projects
Author, Matt Gaynor, Director of Surety, Rancho Mesa Insurance Services, Inc.
When the bond company approves a performance and payment bond for our contractor clients, they want to keep track of the project until completion - at which time the liability for the bond is no longer on their books. One tool they use to track a construction project is the Work In Progress Report (WIP) which the bonding company analyzes on a quarterly or six-month basis to track the profitability of the project on a percentage of completion basis. When the bond company sees that a project is 100% complete on the WIP or Completed Contract Report, they will mark the bond file as “closed,” once the warranty period has expired.
Strengthen Your Risk Profile During COVID-19
Author, Jeremy Hoolihan, Account Executive, Rancho Mesa Insurance Services, Inc.
While the effects of COVID-19 on the workers’ compensation marketplace vary among the different business sectors, the Workers’ Compensation Insurance Rating Bureau (WCIRB) has approved a filing that will increase the 2021 pure premium advisory rates by 2.6%. With impending rate increases on the horizon, it’s more important now than ever to be proactive when it comes to your company’s risk management program. Carriers are already tightening up their underwriting guidelines and limiting schedule credits. In order to earn the most competitive pricing possible, a business must differentiate itself from other businesses. Below are three strategies you can use to strengthen your risk profile during COVID-19.
Choosing the Right Classcode: A Guide to Distinguishing Tree Trimming from Landscape Work
Author, Rory Anderson, Account Executive, Rancho Mesa Insurance Services, Inc.
Many tree care companies perform work that could be classified as “landscape gardening.” The risk and exposure associated with this class code is minimal compared to those associated with tree trimming. Without the additional tree care exposure, landscape gardening workers’ compensation insurance rates are significantly lower than tree trimming rates. Common questions we receive from our tree care clients are…
Court Agrees Temporary COVID-19 Standards Are Not Needed
Author, Emily Marasso, Media Communications Assistant, Rancho Mesa Insurance Services, Inc.
On June 11th, 2020, the D.C. Circuit Court denied the American Federation of Labor and Congress of Industrial Organizations’ (AFL-CIO) lawsuit against the Occupational Safety and Health Administration (OSHA) for not issuing an emergency temporary worker safety standard due to COVID-19.
Top 5 Cyber Threats for Contractors
Author, Sam Clayton, Vice President, Construction Group, Rancho Mesa Insurance Services, Inc.
Equipment and material theft as well as jobsite vandalism are exposures that unfortunately contractors have become accustomed to over the years. Over the last decade, however, the construction industry has seen a new threat arise and its name is Cybercrime.
Why Am I Now Required to Bond Such Small Construction Projects?
Author, Matt Gaynor, Director of Surety, Rancho Mesa Insurance Services, Inc.
I received an email from a large Subcontractor client last week requesting performance and payment bonds in the amounts of $87,000 and $133,000, respectively. This client has completed projects in excess of $5,000,000 in the past and was surprised that the general contractor they were working with was requiring such a small amount to be bonded back.
California Workers' Comp Carriers React to Commissioner's COVID-19 Amendment Approval
Author, Alyssa Burley, Media Communications and Client Services Manager, Rancho Mesa Insurance Services, Inc.
With California Insurance Commissioner Lara’s recent approval of a special regulatory filing introduced to alleviate the burden COVID-19 workers’ compensation (WC) claims threaten to have on California employers, we reached out to several prominent carrier executives to share their thoughts.
OSHA Recording Requirements for COVID-19 Cases
Author, Alyssa Burley, Media Communications and Client Services Manager, Rancho Mesa Insurance Services, Inc.
As businesses begin to reopen across the country, employers are now faced with the real possibility that one or more of their employees may be diagnosed with COVID-19. Those who are familiar with the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) recording requirements may be wondering how to handle an employee COVID-19 case on their OSHA logs.
Commissioner Lara Approves WCIRB Proposed Amendments Addressing COVID-19
Author, Dave Garcia, President, Rancho Mesa Insurance Services, Inc.
California Insurance Commissioner Lara has approved, as filed, the proposed special regulatory filing submitted by the Workers’ Compensation Insurance Rating Bureau (WCIRB) concerning proposed amendments addressing the Coronavirus Disease (COVID-19). The special regulatory filing is effective July 1, 2020 and will apply retroactively starting March 19, 2020, the day California Governor Newsom issued the Stay-at-Home Executive Order N-33-20. Those amendments are as follow…
Nonprofits Eligible for Free Digital Advertising
Author, Sam Brown, Vice President, Human Services, Rancho Mesa Insurance Services, Inc.
To help avoid a decrease in private donations due to the Coronavirus pandemic, nonprofit leaders have turned their attention to a powerful tool used to increase website traffic and online donations: Google’s Ad Grant Program.
Critical Elements of a COVID-19 Safety Plan
Author, Jeremy Hoolihan, Account Executive, Rancho Mesa Insurance Services, Inc.
As businesses re-open across the country, it is important that we all do our part in preventing and slowing the spread of COVID-19. For many companies in construction and those in the service industry, employees often work in close proximity with others. Keeping your workforce and the public safe should be priority number one.
COVID-19’s Impact on the Non-Profit Insurance Marketplace
Author, Chase Hixson, Account Executive, Rancho Mesa Insurance Services, Inc.
Businesses of all sizes across the country have been impacted by COVID-19 in some way or another. As we begin to phase back into the “new normal,” the insurance industry is seeing several changes within the non-profit sector that will significantly impact pricing and coverage, moving forward.
COVID-19 Business Shutdown: What Coverage Gaps Exist with Vacant Properties
Author, Daniel Frazee, Executive Vice President, Rancho Mesa Insurance Services, Inc.
In response to the COVID-19 pandemic and ensuing shelter in place restrictions, many non-essential businesses have been shuttered for several weeks. As those businesses deal with the massive revenue and employee losses, building owners must be cautioned to review their property policies closely for vacancy provisions and exclusions.
CA Governor Issues Executive Order Making Workers’ Compensation Benefits More Readily Available to Essential Workers
Author, Sam Brown, Vice President, Human Services Group, Rancho Mesa Insurance Services, Inc.
On Wednesday, May 6 2020, California Governor Gavin Newsom issued an Executive Order making workers’ compensation benefits more readily available to essential workers.
Update Your Handbook with Ease Using the RM365 HRAdvantage™ Handbook Builder
Author, Emily Marasso, Media Communications Assistant, Rancho Mesa Insurance Services, Inc.
The RM365 HRAdvantage™ portal offers an easy-to-follow process to build a company handbook from scratch. Choose from a single state or multi-state based handbook with the ability to include your own custom policies. The RM365 HRAdvantage™ portal helps keep your handbook up to date and compliant by sending alerts when policies change or need to be included.
Surety Tightens Due to COVID-19 Pandemic
Author, Andy Roberts, Account Executive, Surety Department, Rancho Mesa Insurance Services, Inc.
Before COVID-19, the construction industry had been enjoying one of the longest economic booms that this county has seen in recent memory. And, even though construction has been deemed essential, the industry is already seeing some effects from the pandemic, ranging from delayed material supplies, projects being shut down, and late or non-payments from project owners.
Employee Handbook Builder Adds Two New COVID Policies
Author, Lauren Stumpf, Media Communications Coordinator, Rancho Mesa Insurance Services, Inc.
If you are a Rancho Mesa client who has utilized the Living Handbook builder within the RM365 HRAdvantage™ portal, you may have noticed email notifications alerting you of the latest legislation policy changes. When a new government policy goes into effect or an existing policy needs to be revised, the HR portal will give you the option to update your handbook(s).