Industry News
Don’t Wait Until It’s Too Late: Notify Your Insurer of a Claim Right Away
Author, Sam Brown, Vice President, Human Services Group, Rancho Mesa Insurance Services, Inc.
Rancho Mesa’s commercial clients purchase insurance to transfer financial risk to a third party and protect their business against claims of liability. These clients rightfully expect their respective insurers to fulfill the obligation found in black and white on the Insurance Service Office (ISO) general liability form that reads “We will pay those sums that the insured becomes legally obligated to pay as damages because of bodily injury or property damage to which this insurance applies.” So, what must a policyholder do to ensure this obligation is fulfilled?
Return of the Rush Hour: Avoid Increased Risk with Safe Driving
Author, Megan Lockhart, Marketing & Media Communications Special, Rancho Mesa Insurance Services, Inc.
As students return to the classroom, the back to school traffic has also resumed. With more cars on the roads, this leads to more risk for commercial vehicles making their daily commutes.
Understanding Why Your Building’s Leaky Roof Claim Might Be Denied
Author, Jack Marrs, Associate Account Executive, Rancho Mesa Insurance Services, Inc.
Leaky roofs can be a major headache for commercial property owners, often leading to significant damage and costly repairs. Understanding how insurance policies respond to these situations is crucial in navigating the claims process.
Protecting Commercial Property Investments through Vacancy Permit Endorsements
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
Commercial real estate owners may face significant exposure nationally due to vacancy clauses and policy exclusions. The vacancy permit endorsement can potentially fill a major coverage gap within commercial property policies for landlords.
California’s Indoor Heat Illness Prevention Standard Approved: What You Need to Know
Author, Megan Lockhart, Client Communications Coordinator, Rancho Mesa Insurance Services, Inc.
Recently, the Cal/OSHA Standards Board approved new requirements for California businesses, heat illness prevention for indoor work spaces. The new Section 3396 addition to the California Labor Code will go into effect as early as August 1, 2024.
Transitioning from a Credit-Based to a Standard Surety Program
Author, Andy Roberts, Account Executive, Rancho Mesa Insurance Services, Inc.
When sureties began offering credit-based programs, there were only a few companies who would offer this type of program and the limits were low, most often around $250,000 for a single project and aggregate.
Updates to California Healthcare Minimum Wage Policies for 2024
Author, Megan Lockhart, Client Communications Coordinator, Rancho Mesa Insurance Services, Inc.
This year has seen several changes to minimum wage in the State of California. On January 1, 2024, the California general minimum wage increased to $16 per hour, regardless of tips. However, as of July, several individual industries across the State, including healthcare, saw minimum wage increases.
Understanding the Importance of Your Workers’ Compensation Unit Stat Filing Date
Author, Greg Garcia, Account Executive, Rancho Mesa Insurance Services, Inc.
Imagine you are a landscaping company owner and your workers’ compensation policy just renewed January 1st. You are probably thinking, now what? Well, the next date that should be on your radar is June 30th, your unit stat date.
Leveraging Your Experience Modification Rating to Your Advantage
Author, Matt Gorham, Account executive, Rancho Mesa Insurance Services, Inc.
Your Experience Modification Rating (e.g., EMR, X-Mod, or Mod) can have a significant impact on controlling costs within your insurance program. While most business owners recognize that a lower EMR typically leads to lower insurance costs, few owners understand the mechanics for determining an EMR and how they can be used to proactively manage resources to their company’s benefit.
Resources and Tools for Completing Your Workplace Violence Prevention Plan
Author, Megan Lockhart, Client Communications Coordinator, Rancho Mesa Insurance Services, Inc.
As July 1st quickly approaches, California businesses are working hard to prepare their Workplace Violence Prevention plans before the deadline. In our aim to serve the needs of our clients, Rancho Mesa has outlined resources we offer to supplement your specific company’s training and plan.
Subcontractors: The Prime Contract and Its Impact On Your Rights and Responsibilities
Author, Anne Wright, Surety Relationship Executive, Rancho Mesa Insurance Services, Inc.
Reviewing contracts is not everyone’s favorite thing to do. But, I would like to share some quick thoughts on why asking for and reviewing the prime contract (before you sign your subcontract, ideally) can be important for subcontractors. This can help strengthen your position if certain conflicts arise.
Understanding Insurance Options for Tree Care Vehicles with Permanently Mounted Equipment
Author, Rory Anderson, Account Executive, Rancho Mesa Insurance Services, Inc.
The vehicles that tree care companies are using today have become more specialized and more mechanized than ever. These specialized vehicles contribute to the overall productivity, profitability, and safety of the tree care industry.
WCIRB 2024 Construction Dual Wage Threshold Increases Approved
The California Insurance Commissioner Lara has approved an increase in hourly wage thresholds for all 16 construction dual-wage classifications.
Four Weeks of Safety: Important Resources for National Safety Month
Author, Megan Lockhart, Client Communications Coordinator, Rancho Mesa Insurance Services, Inc.
As we hit the halfway mark on the 2024 year, we’ve explored plenty of important topics related to health and safety each month. The month of June is National Safety Month by the National Safety Council (NSC), in partnership with the Center for Disease Control and Prevention (CDC).
Beyond Insurance: Employer Strategies to Prevent Wage and Hour Claims
Author, Sam Brown, Vice President, Human Services Group, Rancho Mesa Insurance Services, Inc.
It was June 86 years ago, Congress and President Franklin D. Roosevelt (FDR) signed into law the Fair Labor Standards Act of 1938 (FLSA). In the words of FDR, the FLSA ensured “a fair day’s pay for a fair day’s work.”
Building an Effective Renewal Submission in a Hard Market
Author, Jack Marrs, Associate Account Executive, Rancho Mesa Insurance Services, Inc.
Insurance renewals can be challenging for nonprofits, especially in the hard market of 2024, characterized by higher premiums, stricter underwriting, and reduced coverage from insurance carriers. Leaning on your insurance broker as the quarterback, a well-prepared submission can significantly impact the outcome of your insurance renewal, potentially leading to better terms and lower premiums. Nonprofits can work effectively with their insurance broker to build a comprehensive submission using the following strategies.
Surety Bonding: Understanding the Client-Broker-Carrier Relationship
Author, Matt Gaynor, Director of Surety, Rancho Mesa Insurance Services, Inc.
People from outside the surety bond industry will sometimes ask if we work for 1) the carrier (bond company) or 2) the contractor client. This is an easy one. While we are approved to issue bonds by the 20+ carriers we are appointed with, make no mistake that we work 100% for our clients.
Return to Work Programs: Best Practices for Handling Workers’ Comp Claims
Author, Casey Craig, Account Executive, Rancho Mesa Insurance Services, Inc.
How do you handle the situation when a great employee is injured but not quite ready to return to full duty? We do all that we can to prevent injuries and make sure once they do happen our employees are taken care of quickly and properly. The one true variable we have in our control, after a claim has been filed, is how to accommodate employees that are injured but not able to return to normal duties until deemed fully recovered.
National Electrical Safety Month: Preventing Hazards in the Construction Industry
Author, Megan Lockhart, Client Communications Coordinator, Rancho Mesa Insurance Services, Inc.
We’ve just started the month of May, National Electrical Safety month. The Electrical Safety Foundation International (ESFI) dedicates this month annually to help reduce electrical-related fatalities, injuries, and property loss.
WCIRB Files for Workers’ Comp Rate Increase
Author, Sam Clayton, Vice President, Construction Group, Rancho Mesa Insurance Services, Inc.
Earlier this month, the Workers’ Compensation Insurance Rating Bureau (WCIRB) recommended a nominal .9% increase in the advisory pure premium rates. The reason given, increased loss development for medical costs and higher claims adjustment expenses. This recommendation is now sent to the California’s Insurance Commissioner Ricardo Lara for approval. If approved, the increase in rates then take effect September 1, 2024.