Mindful Risk Report


Coverage Gap Concerns as Cyber Threat Grows – January 2020 RISK REPORT

Small and mid-sized businesses are increasingly bearing the burden of cyber threats, as criminals are betting they do not have the resources in place to mount a strong defense. A severe attack on a small company can incapacitate its ability to do business, and the expenses of getting operations back on track – coupled with …

Top New Laws and Regs Affecting Businesses – January 2020 RISK REPORT

The new decade is starting off with a tsunami of new laws and regulations that will affect California businesses. Companies operating in California will have to be prepared for significant changes or open themselves up to potential litigation, fines, and other risks. Here’s what you need to know coming into the new year: 1. AB 5 The controversial AB 5 creates a …

CAL/OSHA REPORTING – New Law Changes When Injuries Must Be Reported

Gov.  Gavin Newsom has signed a measure into law that will greatly expand when employers are required to report workplace injuries to Cal/OSHA. The new law, AB 1805, broadens the scope of what will be classified as a serious illness or injury which regulations require employers to report to Cal/OSHA “immediately.” As of yet there is no effective date for this new …

Workers’ Compensation – Bureau Recommends Further Rate Cut

Worker’s Comp Insurance rates will likely continue sliding in 2020 after California’s rating agency submitted its recommendation that the state insurance commissioner reduces the average benchmark rates by 5.4%. If the recommendation is approved, it will be the rate ninth consecutive decrease since 2015 (some years had two decreases), which has resulted in the average benchmark rate for all class codes falling a combined …

Workers’ Comp – New Experience Rating, Physical Audit Levels Set

Starting in 2020,  the threshold for California employers to be  eligible for experience rating (X-Mod) has been reduced by order of the state insurance commissioner.  Commissioner Ricardo Lara in September approved the recommendations by the Workers’ Compensation Insurance Rating Bureau to lower thresholds for determining eligibility for experience rating and when a carrier needs to perform a physical audit of …

Business Interruption Now Part of Cyber Policies – Coverage changes

As the full threat of hacking and cyber attacks takes old, cyber insurance policies are evolving so that the primary focus is on business interruption coverage. When these policies first hit the market, they were mostly focused on covering the costs of notifying individuals whose personal data or credit card information may have been exposed, and of any regulatory penalties and other …

Do you have a risk management plan? You should.

While large companies are usually well-prepared for a crisis should one occur, most small and mid-sized firms don’t have the resources or have not put much thought into how they would handle a crisis.

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