Industry News
Author, Andy Roberts, Surety Account Executive, Rancho Mesa Insurance Services, Inc.
Surety Account Executive Andy Roberts sat down and interviewed Miggs Borromeo, Commercial Surety Underwriter for Merchants Bonding, and discussed the current climate of the commercial surety world in Southern California. They also covered the bonding trends most commonly seen today, and the programs that Merchants Bonding Company offers.
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.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
The continuing trend of catastrophic claim activity over the last several years, rising number of nuclear settlements due to increased litigation funding, and hyperinflation are impacting all economic sectors. One of those sectors is the commercial property insurance market and the rapid increase in reconstruction costs.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
Construction companies nationwide are grappling with a shared challenge: a labor shortage propelled by various factors. In this article, we will explore these factors and highlight key areas that can contribute to managing bottom lines effectively.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
Since the outset of the 21st century, the solar installation industry has been bustling with the demand to create clean sustainable energy. Based on growing political and ecofriendly needs, the solar industry is ever changing and trying to keep up with constant fluctuations when it comes to energy storage, federal and state regulations, and supply chain demands.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
Mechanical HVAC contractors are essential to making sure that buildings around the globe have controlled temperatures and are energy efficient. Nationwide, the demand for mechanical HVAC contractors often keeps these businesses with full backlogs. These companies use various materials that create the potential for a pollution liability claim. Refrigerants, gases, flammable liquids, and lubricants are examples of these types of pollutants. If leaked or exposed, walls, ceilings, and floors can develop damage or mold that is not covered by standard commercial general liability policies.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
California faces a critical need to prioritize heat illness awareness among its workforce. The combination of Southern California's recent above average rainfall and the anticipated heatwave resulting from El Niño has created the possibility of an extremely warm summer. Construction companies must remain vigilant and adaptable, implementing appropriate measures to address these changing weather dynamics and ensuring the safety of their workers. By staying informed about weather forecasts and implementing flexible work schedules and site preparations, companies can effectively navigate these challenging conditions and prioritize the well-being of their employees. By understanding the significance of heat illness awareness, companies can ensure the safety and well-being of their workers while fostering productivity, minimizing downtime, and improving overall project efficiency.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
For businesses that rely on a fleet of commercial vehicles, insurance costs can be a significant expense. Insurance carriers calculate premiums based on a variety of factors, including the age and condition of the vehicles, driver experience and record, and the frequency and distance of trips. One factor that can positively impact insurance costs is the use of global positioning systems (GPS) in commercial vehicles. Below, we will explore some of the insurance benefits of installing GPS systems in commercial vehicles.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
As a landlord and owner of commercial property, you have exposures like fire, theft and bodily injury that must be addressed to protect your investment and, in many cases, a family asset from risk. As you look to finance these properties, most lenders will require checks and balances to ensure that your property is properly insured and that the mutual investment is protected.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
There is a lot at stake for roofing contractors in California. Many of us recall playing the game “would you rather” as kids. Would you rather jump into a freezing cold pool in December or eat the world’s hottest chili pepper with no milk available?
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
In California, motor vehicle accidents are among the leading cause of severe injuries on a daily basis. From a risk management perspective, a company’s fleet safety program has a primary goal of keeping employees safe while driving which lowers the amount of annual auto premiums paid.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
On January 25, 2022, California Governor Gavin Newsom announced he had made a deal with legislative leaders on a framework that would provide up to two weeks of supplemental paid sick leave to those who are unable to work due to COVID-19, quarantining or experiencing side effects from the vaccine. As of February 7, 2022, the California legislature passed the bill and we are waiting for the governor to sign it into law.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
There are 16 construction workers’ compensation class code pairs in California, each set up as dual wage classifications. The purpose of these “split” class codes allows the Workers’ Compensation Insurance Rating Bureau (WCIRB) and California insurers to better predict future risk and underwrite with more accuracy.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
As we continually build broad and competitive insurance programs for solar contractors in southern California, we recently interviewed a Senior Underwriter from a national workers’ compensation carrier in an effort to learn best practice controls for these types of risks. To our delight, this underwriter provided the top five controls their team looks for while reviewing a submission to quote. Having these controls in place can show an underwriter that your company deserves the best possible pricing available in the insurance marketplace…
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
As a business owner, you might hear about group captive insurance but are unsure whether or not it would be a fit for your business model. With auto rates rising dramatically and property and casualty premiums poised to shift upwards over the next 5 years, exploring a group captive could benefit your business. A group captive could help you potentially recover more than 60% of your premiums, generating substantial returns on your investment in safety.
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
Builder’s risk policies protect construction materials while they are being stored on a jobsite or have been installed during the course of a project, prior to the completion of the work. These policies are often required by the project owners or developers and provide protection from day one up until the last speck of paint is dry when the project is completed.
Author, Kevin Howard, C.R.I.S., Account Executive, Rancho Mesa Insurance Services, Inc.
COVID-19 has created a multitude of challenges for California business owners in the first half of 2020. A concerning trend is the potential combination of lower payrolls and the California Workers’ Compensation Insurance Rating Bureau’s (WCIRB) recommendation to lower expected loss rates, creating what very likely could be significant Experience Modification Rate (XMOD) increases for numerous California businesses.
Author, Kevin Howard, CRIS, Account Executive, Rancho Mesa Insurance Services, Inc.
As insurance companies brace for a spike in claim filings due to COVID-19, one under the radar coverage that could be severely impacted is Employment Practices Liability (EPLI). With just over 22,000,000 employees recently laid off, terminated or furloughed nationwide, most experts anticipate that EPLI claim frequency will jump.
Author, Kevin Howard, C.R.I.S., Account Executive, Rancho Mesa Insurance Services, Inc.
Based on a recently published survey from the Associated General Contractors of America, 80% of contractors predict growth in 2020…but there is a twist. There is a major labor shortage.
Author, Kevin Howard, CRIS, Account Executive, Rancho Mesa Insurance Services, Inc.
California contractors focused on their experience modification are paying close attention to the soon to be published 2020 Expected Loss Rates (ELRs).
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