Events

Why Warranties Are Not Covered by Professional Liability Policies

Why Warranties Are Not Covered by Professional Liability Policies

Contractors warrant their work in every contract. This is appropriate because they are doing work and have agreed to do it correctly or fix it if it is incorrect. Likewise, equipment is warranted. It works or doesn’t, and if it doesn’t, it should be made to work. When providing work or equipment, warranties and guarantees are appropriate. The expectation is that you will provide what you’ve promised to deliver. Read More

HR Insight: Inflation’s Impact on 2023 Open Enrollment

HR Insight: Inflation’s Impact on 2023 Open Enrollment

Many employees are currently feeling financially strained because of inflation. With open enrollment fast approaching, inflation could impact the choices employees make when it comes to their benefits. Employees are likely to consider which benefits matter the most and how to optimize the money they spend on those offerings. As a result, this year’s open enrollment may be more challenging than usual for employers and benefits providers. This article explores how inflation is impacting employees’ benefits selections and approaches to open enrollment and outlines what employers can do to help. Read More

News Brief: Wages Increase Near the Pace of Inflation

News Brief: Wages Increase Near the Pace of Inflation

According to HR services provider ADP, salaries have been rising rapidly, nearly on par with inflation. Year-over-year pay raises increased by 7.6% leading up to August 2022, compared to an average of around 2% in early 2021. While pay has increased overall, its growth has flattened since April. Read More

5 Onboarding Tips to Help Reduce Employee Turnover

5 Onboarding Tips to Help Reduce Employee Turnover

The employee onboarding process is crucial for retaining employees after the first 90 days. During the first three months at a job, about 1 in 3 workers would leave it without having another job lined up, according to recruiting firm Jobvite.

However, an effective onboarding process can help employees be excited and engaged, which helps prevent turnover. Due to this, companies should start to change how the onboarding process is viewed. Some employee turnover will be natural at any organization, but taking some simple steps may help reduce the number of employees looking to leave. Read More

A&G Employee Spotlight  – Benefits Team

A&G Employee Spotlight – Benefits Team

In 2022, Ames & Gough introduced a new offering to compliment our current suite of insurance products. Employee Benefit solutions are spearheaded by Justin Gough, vice president, employee benefits and Joe Satterfield, account administrator, employee benefits. Who better to kick off our first “Employee Spotlight” then Justin and Joe. We cover a lot of ground … billionaires, meteorology, eating contests, sport allegiances and more. Read More

The Perils of Payment Certification

The Perils of Payment Certification

Payment certification may not generally be considered a dangerous aspect of the performance of your design contract, but that can change quickly if the project schedule begins to slip, or the costs increase unusually.

The most serious peril occurs when the owner terminates the contractor because they are not performing properly. Payment certification may suddenly be put under a microscope by both the owner and the bonding company, and the exposure may be significant. Read More

The Importance of Insurance to Value for Commercial Property Coverage

The Importance of Insurance to Value for Commercial Property Coverage

When purchasing or renewing their commercial property insurance, it’s vital for businesses to ensure such coverage includes correct property valuations. Doing so can make all the difference in providing sufficient protection and preventing coinsurance penalties amid covered property losses. That’s where conducting accurate insurance-to-value (ITV) calculations comes into play. Generally speaking, ITV refers to an approximation of the full cost to replace or restore insured property. Read More

Underwriting Consideration for D&O Insurance

Underwriting Consideration for D&O Insurance

Directors and officers (D&O) liability insurance is an insurance coverage sought by private and non-profit organizations to help protect their executives from costly legal actions. Over the years, insurance companies have refined their underwriting practices for D&O insurance to reward organizations that implement proactive risk management measures.

2022 Mid-Year Market Outlook – Cyber Insurance

2022 Mid-Year Market Outlook – Cyber Insurance

The past year has seen a rapidly hardening cyber insurance market as cyberattacks have surged in both cost and frequency. This increase in attacks has, in turn, resulted in a rise in cyber insurance claims and subsequent underwriting losses. Amid these market conditions, most policyholders experienced higher cyber insurance rates at their 2022 renewals, with many insureds seeing double-digit rate increases.

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