Industry News
Author, Sam Brown, Vice President of the Human Services Group, Rancho Mesa Insurance Services, Inc.
As COVID-19 vaccinations become more available and the positive results of our efforts are realized, employers may ask how this impacts the workforce and a full-scale return to the workplace. More specifically, they may ask if an employer can mandate a COVID-19 vaccination policy.
Author, Daniel Frazee, Executive Vice President, Rancho Mesa Insurance Services, Inc.
If you are reading this article, listening to our podcasts, and taking advantage of the meaningful risk management content we share weekly, you and your business likely find some degree of value in what is produced. While much of this content originates from our Media Communications Group, they, with other Rancho Mesa family members join together as the backbone of our operation.
Author, Andy Roberts, Account Executive, Surety, Rancho Mesa Insurance Services, Inc.
As surety brokers, we initiate bond programs for our construction clients. Single and aggregate limits are determined in large part by their financials and experience. Often, there are jobs that exceed the single limit we have in place, or are larger than any job that our client has previously completed. When it is a job that makes sense for the contractor, it is our job to work with the bond company and find a solution so the contractor can bid the job or take on the contract. One available solutions is a process referred to as funds control.
Author, Drew Garcia, Vice President, Landscape Group, Rancho Mesa Insurance Services, Inc.
How do you differentiate your company from your local competitors? Product, customer service, delivery, etc. The same can be said for your risk profile and insurance costs. Why are my insurance rates high when my competitors are low? This article breaks down four factors that influence your risk profile and impact pricing.
Author, Rory Anderson, Account Executive, Rancho Mesa Insurance Services, Inc.
The total cost of risk is the sum of the measurable expenses that are associated with managing risk within any organization. Every successful business has a process for tracking and measuring performance to improve results. It is important for business owners to keep a pulse on key performance indicators. But, how are you measuring risk related costs? Some people may think that insurance premiums are the only cost associated with risk, but we need to look at the bigger picture.
Author, Sam Clayton, Vice President, Construction Group, Rancho Mesa Insurance Services, Inc.
As a result of COVID-19’s impact on the overall economy, the construction industry will likely see some strong head winds not only operationally, but also from a risk management and insurance standpoint in 2021.
Author, Dave Garcia, President, Rancho Mesa Insurance Services, Inc.
As we come to the end of 2020, the most challenging year most of us have ever experienced, where COVID-19, wild fires and other natural disasters took their toll emotionally, physically, mentally and financially on all of us we can only hope for a brighter 2021.
Author, Chase Hixson, Account Executive, Rancho Mesa Insurance Services
This past year has brought significant changes to many industries as they navigated the effects of COVID- 19. This article gives an overview of the effects to the home care industry and what employers can do to be better positioned in the marketplace.
Author, Jeremy Hoolihan, Account Executive, Rancho Mesa Insurance Services, Inc.
Auto liability is often one of the most substantial risks a business will have. Driver selection is one of the most important evaluations a business can do to prevent accidents. It’s been proven that drivers with a history of moving violations and accidents pose a higher risk for organizations. Best practices for reducing this risk allow only safe drivers to operate a company vehicle.
Author, Rory Anderson, Account Executive, Tree Care Group, Rancho Mesa Insurance Services, Inc.
The premium for your workers’ compensation policy is based on the type of work you do, and the amount of payroll incurred. By maintaining proper payroll records, segregating the wages earned by your employees, you may reduce the cost of your workers’ compensation insurance. The final audit is the process that calculates the last premium due. It compares the estimated payrolls to actual wages paid during the policy year. The audit may result in a refund or additional premium due. Workers’ compensation audits also determine if the classification codes quoted at inception accurately reflect the scope of work performed during the policy period. Insurance carriers charge more premium for higher risk operations, like tree trimming.
Author, Matt Gaynor, Director of Surety, Rancho Mesa Insurance Services, Inc.
As we wind down the 2020 year, it is important for our contractor clients and prospects to start planning how the 12/31/2020 fiscal year end financial statement will look. The bond companies will use this information to set your 2021 Bond Credit Line for approval of your projects.
Author, Emily Marasso, Media Communications Assistant, Rancho Mesa Insurances Services, Inc.
On November 19, 2020, California’s Occupational Safety and Health Administration (Cal/OSHA) Standards Board adopted temporary emergency standards to protect workers from COVID-19. These standards are expected to go into effect November 30, 2020, upon approval from the Office of Administrative Law.
Author, Sam Clayton, Vice President, Construction Group, Rancho Mesa Insurance Services, Inc.
Adding frustration to the growing concerns for businesses dealing with COVID-19, the Workers’ Compensation Insurance Rating Bureau (WCIRB) has recommended California employers pay a COVID-19 surcharge on their 2021 workers’ compensation policies.
Author, Sam Brown, Vice President of the Human Services Group, Rancho Mesa Insurance Services Inc.
On September 17th, 2020 Governor Gavin Newsom signed into law Senate Bill 1159 (SB 1159) and Assembly Bill 685 (AB 685), both COVID-19 related bills. Both pieces of legislation will impact how employers respond to incidents of COVID-19 infections. This article will help business owners understand AB 685’s heightened occupational health and safety rules. Employers also need to understand how AB 685 grants California’s Occupational Safety and Health Administration (Cal/OSHA) greater enforcement powers.
Author, Drew Garcia, Vice President, Landscape Group, Rancho Mesa Insurance Services, Inc.
Even prior to the COVID-19 pandemic, many construction companies were utilizing some form of cloud-based systems to effectively streamline business operations and increase accessibility of information. While hosting sensitive data in the cloud has many benefits like shared access to data, applications and storage, there are some risks contractors should take into account before relinquishing their data to the cloud.
Author, Dave Garcia, President, Rancho Mesa Insurance Services, Inc.
As expected, California Governor Newsom signed Senate Bill 1159 (SB 1159) into law Thursday, September 17, 2020 and it will have several impacts on workers’ compensation and the presumption of the claim. Below is an outline of some of the more important elements of SB 1159. In simple terms, just remember three numbers, 4/4/14 - I’ll explain, later.
Author, Sam Clayton, Vice President of the Construction Group, Rancho Mesa Insurance Services, Inc.
As if the 2020 business landscape has not already been challenging enough, a hard market for excess/umbrella is occurring at a concerning rate, resulting in rising premiums, limited capacity and a restriction in terms and conditions.
Author, Matt Gaynor, Director of Surety, Rancho Mesa Insurance Services, Inc.
When the bond company approves a performance and payment bond for our contractor clients, they want to keep track of the project until completion - at which time the liability for the bond is no longer on their books. One tool they use to track a construction project is the Work In Progress Report (WIP) which the bonding company analyzes on a quarterly or six-month basis to track the profitability of the project on a percentage of completion basis. When the bond company sees that a project is 100% complete on the WIP or Completed Contract Report, they will mark the bond file as “closed,” once the warranty period has expired.
Author, Jeremy Hoolihan, Account Executive, Rancho Mesa Insurance Services, Inc.
While the effects of COVID-19 on the workers’ compensation marketplace vary among the different business sectors, the Workers’ Compensation Insurance Rating Bureau (WCIRB) has approved a filing that will increase the 2021 pure premium advisory rates by 2.6%. With impending rate increases on the horizon, it’s more important now than ever to be proactive when it comes to your company’s risk management program. Carriers are already tightening up their underwriting guidelines and limiting schedule credits. In order to earn the most competitive pricing possible, a business must differentiate itself from other businesses. Below are three strategies you can use to strengthen your risk profile during COVID-19.
Author, Rory Anderson, Account Executive, Rancho Mesa Insurance Services, Inc.
Many tree care companies perform work that could be classified as “landscape gardening.” The risk and exposure associated with this class code is minimal compared to those associated with tree trimming. Without the additional tree care exposure, landscape gardening workers’ compensation insurance rates are significantly lower than tree trimming rates. Common questions we receive from our tree care clients are…
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