Matt Zender

Do you have operations in California? Beginning July 1st, 2024 employers are required to establish, implement, and maintain a workplace violence prevention plan. Learn more on the California Department of Industrial Relations site: https://bit.ly/4coYzDT #riskcontrol #workplaceviolenceprevention #workplacesafety

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Analysts are expecting increased EEOC claims in 2024 – and while some Employment Practices Liability (EPL) policies include coverage for EEOC claims, it’s often only a sub-limit for defense costs – so it's your HR policies and procedures are your best defense when it comes to reducing EEOC claims. Proactive steps companies can take to address the root causes of EEOC claims: ·        Establish clear policies that include clear and comprehensive anti-discrimination and anti-harassment policies that are easily accessible to all employees. Regularly review and update these policies. ·        Use clear and objective criteria for all employment decisions, such as hiring, promotions, and terminations. Document decisions thoroughly and consistently. ·        Establish clear and accessible procedures for employees to report discrimination or harassment. Uphold a zero-tolerance policy for retaliation. ·        Regularly assess your workplace culture, policies, and practices for potential discrimination or bias. Conduct confidential employee surveys to identify areas for improvement. ·        Investigate complaints promptly and thoroughly. Take all complaints seriously and investigate them promptly and objectively. ·        Offer mediation and consider early alternative dispute resolution methods to address concerns before they escalate to formal claims. ·        Offer training and support to employees who have been affected by discrimination or harassment. Reach out to me directly if you are looking for resources to protect your company from these and other potential EPL litigation trends.  #hrcompliance #managementliability #riskmanagement

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What's your company's GLP-1 strategy? Insurers are removing coverage, and roughly 60% of self-insured employers don't cover them. They help people with #diabetes - but at a cost of $12k to $15k / year. Need help? We have #realworld solutions cutting that cost in half. #workingsmarter #ssgmi #pbm #glp1problems #benefitspend #benefits #benefitbroker https://lnkd.in/eQw4ZQyQ

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Click the link below to listen to my latest feature on the Kim Pagano Show!

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Flood insurance claims in California soared nearly 211% in 2023, reaching an all-time high of more than $59.3 million, according to National Flood Insurance Plan (NFIP) data. And despite severe flooding and storms that caused nearly $5 billion in damages last year, the number of Californians with NFIP policies decreased in 2023. #wrightflood #weareflood

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The #insurance industry has been focused on the severe weather events occurring across the U.S. In fact, the U.S. has recorded a #tornado for 15 days in a row, and one has to go back to 2019 to see so many consecutive days with tornado reports. These events have likely added billions of insurance losses for the industry, which is already feeling the pain from last year's very active severe weather events. However, while a lot of eyes are on the U.S., a major disaster that will likely be impactful to the insurance industry is occurring in #Brazil. There hasn’t been much focus on the flooding, but this is a major event and likely some of the worse #flooding in 80 years for the southern Brazil region of Rio Grande Do Sul where an estimated 1.3 million people have been effected in a region of over 4 million people.  It is too early to estimate losses, which is difficult given the lack of modeling and data availability, but events like these drive changes in the industry and new products and services to aid the insurance industry. NASA’s Global Flood Product shows extensive flooding in Rio Grande do Sul, Brazil on May 6 is shown below. Learn about the data:  https://lnkd.in/gtrx2pSV

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📣 Attention California Staffing Firms! There's a proposed 0.9% increase ⬆ in the Workers' Compensation Insurance Rating Bureau on the horizon. The increase is due to rising medical costs and higher costs to adjust workers' compensation claims. It's key to recall that rates can fluctuate enormously between insurance companies. In the face of market volatility, while many carriers have exited the state, new ones have stepped in over the past few years. This highlights the importance of making informed decisions and partnering with industry-savvy agents who have a solid understanding of the California market. Remember, knowledge is power. And in the face of change, the most powerful tool at our disposal is being well-informed.

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This checklist outlines steps employers should follow to establish a workplace violence prevention plan under amendments to California’s Workplace Violence Prevention Law, which was amended to require a written plan, incident logs, and employee training, starting July 1, 2024. #insuranceadvisor

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It's easy to blame carriers for inflated insurance costs. People like the guy mentioned in the article below is what really gets my blood boiling. Hard market conditions are abound in various insurance markets and products. Brokers refer to "Navigating the market" while trying to help their clients, but in my mind we've been "Battling the market" with certain conditions and offers making even less sense as the months go by. If you're not partnering and being proactive with your broker on renewal strategies, it's time to start. Things don't get better overnight or over a couple of quarters. #RiskManagement #ioausa

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California’s Insurance Crisis: A Call For Vigilance California’s Insurance Commissioner Ricardo Lara is proposing regulatory changes to tackle the state’s insurance crisis caused by increasing wildfire risks. While his plan aims to stabilize the market and ensure affordability, many remain skeptical about its effectiveness. The proposed measures seek to balance the needs of insurers and consumers, but the actual impact on the market and policyholders is yet to be seen. Without stabilization, the volatility of the standard insurance market could negatively impact alternative risk transfer solutions, potentially leading to increased costs and limited availability of reinsurance. It’s crucial to monitor these developments closely to ensure long-term stability and protection for all businesses. Vigilance and adaptability will be key in navigating these changes. #captiveinsurance #captivemanagement #riskmanagement #selfinsurance #alternativerisktransfersolutions

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There is a wide range of viewpoints regarding whether or not group health plans should cover weight loss drugs. We received an article from one of our online information resources titled “The old-fashioned weight loss method being embraced by insurers.” The article got my attention because a number of groups have inquired about whether or not to cover weight loss drugs.   In reading the article, however, the ‘old-fashioned’ weight loss method referred to was bariatric surgeries. This really surprised me because my view of the ‘old-fashioned’ weight loss method is diet and exercise. There are unintended consequences in cases where either weight loss drugs or bariatric surgeries are involved. In previous years, we had groups whereby bariatric surgeries were performed and ensuing complications ran up in six figure bills beyond the cost of the surgery alone.   More recently, we have a couple of groups who actually have participants using weight loss drugs. Some have told us that some of these participants have experienced difficult side effects from these drugs. Therefore, it still leads me to believe that the tried and true ‘old-fashioned’ weight loss method is still diet and exercise. That is just my opinion, but whenever tried as a lifestyle direction change, it seems to have worked with few if any detrimental side effects for a lot less money.   What do you think?

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Insurers will soon have to provide customers a clear explanation for increases in their auto and home insurance premiums at the time of renewal. This comes at a time when more and more consumers are grappling with insurance price increases and changes or loss of coverage. Beginning Saturday, companies must do so in writing if a policyholder requests it. In 2027, that information must be provided automatically and in easy-to-understand language on policy renewal notices. “If your insurance company is going to increase your premium, you have a right to know why,” Insurance Commissioner Mike Kreidler said in a statement. “Hundreds of consumers, every year, have told us they are unable to get a clear answer from their insurance company about why they’re being charged more..” #insurance #insurancepremiums #transparency #washingtonstate #consumerprotection #customerservice #premiumincreases #renewalnotices #insurancerenewals #insurancecoverage #autoinsurance #homeinsurance

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Self Insured Employers are paying lower workers comp costs and experiencing fewer claims with better results!!! If your looking to reduce your workers comp costs and claims please message me.

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It was an honor to join Karl Susman on Insurance Hour and discuss several issues affecting the surplus lines marketplace. This conversation got me thinking about the California Department of Insurance’s List of Approved Surplus Lines Insurers (LASLI) and an often-overlooked service that The Surplus Line Association of California provides: full solvency reviews of approved insurance carriers. To protect California insurance consumers, we conduct a thorough financial analysis of approved surplus lines insurers that write business in the state to confirm they are reputable, solvent, meet capital requirements and can fulfill their obligations in the event of a claim. These reviews not just help maintain the financial stability of surplus lines insurers, they safeguard our market from insolvency crises. The LASLI is not a formality. Insurers who wish to be on this list must undergo a thorough vetting process conducted by our organization. This includes proving financial stability, management experience and expertise in their insurance specialty. Brokers and consumers alike can check if an insurer is on the LASLI via our website or the CDI website. By ensuring that only financially robust and experienced insurers are on the LASLI, we provide a vital service that protects all stakeholders, including the insured. #surpluslines #insuranceindustry #riskmanagement

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Interesting article, I would say we are not seeing this increase passed through to insured’s as a general comment. IL continues to be worth monitoring as it has been identified as one of the lead states when changes occur. #workerscompensation #jencap

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This is a great piece explaining why workers' compensation is performing so well compared to other casualty lines. A couple key takeaways: Higher payrolls are generating more premium which offsets higher claim severity, the opposite of what we are seeing on the liability lines. Workers' compensation remains competitive for buyers. Stable conditions and longer payment tail has carriers competing for business. Are you leveraging your workers' compensation line to support your other casualty lines? You should be. #StormReport #Workerscompensation https://lnkd.in/ejg5pgbw

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A Workplace Violence Prevention Plan requirement is coming soon in California. Are your clients ready? Chubb agents come learn how Chubb and the Ackerman Group can help.

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