Industry Updates


October 2022 – Commercial Property Insurance – Coverage Gets Scarce in At-Risk Areas

AS WILDFIRES grow in number, intensity and scope, the cost of paying for the resulting claims is causing a property insurance crisis in some parts of the state that shows no sign of disappearing anytime soon. Commercial property insurance rates have skyrocketed for businesses in areas exposed to wildfire risks. Many have received non-renewal notices …

October 2022 – Big Changes for Dual-Wage Class Codes

AS INFLATION drives up salaries in all sectors, the workers’ compensation wage thresholds for construction dual class codes have increased in California as of Sept. 1, 2022. State Insurance Commissioner Ricardo Lara in July approved the recommendation by the Workers’ Compensation Insurance Rating Bureau to increase the wage thresholds for highwage workers. The new rates …

July 2022 – Privacy Liability – Companies Bleed Data as Workers Move It Offsite

THE MORE employees are working from home, the greater the risk that their employers’ sensitive data is also being stored on their poorly secured devices and laptops. A new study by Symantec Corp. found many workers are sharing, moving, and exposing sensitive company data as part of carrying out the requirements of their jobs, and …

July 2022 – Supreme Court Action – PAGA Ruling a Big Win for Employers

THE U.S. Supreme Court has put a significant dent in California’s Private Attorneys General Act, which in recent years has resulted in a surge in legal actions against California employers by their workers. The law has been a huge thorn in the side of employers, who have been on the receiving end of litigation by …

July 2022 – Construction – Spiking Materials Costs Imperil Building Projects

CONSTRUCTION FIRMS are reeling from snowballing costs of building materials due to spiking demand and supply chain snarls, which are resulting in massive budget cost overruns. This is especially affecting construction businesses that are managing apartment or commercial projects. These cost overruns are imperiling profits – and risking red ink – on the projects after …

July 2022 – Rating Bureau Recommends 7.6% Rate Increase

THE WORKERS’ Compensation Insurance Rating Bureau of California is recommending that advisory benchmark workers’ compensation rates increase an average of 7.6% starting Sept. 1. The proposal comes as the economy heats up and workplace injuries increase, all while COVID-19 workers’ compensation claims continue growing in number. The recommendation stilll needs to be approved by Insurance …

April 2022 – Retirement Savings Law – CalSavers Registration for Small Employers

THE DEADLINE is fast approaching for employers with five or more workers in California, and who do not already off er their employees a retirement plan, to register their staff for the CalSavers Retirement Savings Program. Only California employers that do not off er retirement plans are required to register for CalSavers and there are …

April 2022 – Risk Management – Don’t Let a Subcontractor Derail Your Safety Efforts

ONE OF the biggest challenges construction businesses face is preventing subcontractors’ and suppliers’ poor or non-existent safety practices from denting their own safety program. While you may consider a number of factors when vetting a new subcontractor or vendor, one area that is often overlooked is their workplace safety practices. This mistake can cost you …

April 2022 – Growing Threat – Funds Transfer Fraud Hits Small Firms the Hardest

WHILE RANSOMWARE is making the headlines as the major cyber threat, small and mid-sized businesses are increasingly being targeted by lower fraud that dupes them into wiring criminals funds, according to a new report. These funds transfer fraud crimes involve hackers gaining access to a firm’s mailbox and extracting payments that go into their accounts. …