Risk Management

Risk Management

Welcome, we provide periodic emails witch includes training short(s) The COVID-19 Coronavirus is having a major impact on organizations throughout the world. During this challenging and uncertain time, we are here to support you, now more than ever.

New & Updated Training Courses
The following courses have been updated in the Risk Management Center:
  • Valley Fever Training Short (updated – California construction employees affected by AB 203 must train employees by May 1, 2020)
  • Personal Protective Equipment Awareness (formerly called Personal Protective Equipment Training for Employees)
  • Anti-Harassment for Connecticut Managers (this training meets the 2 hour requirement and complies with SB3)
  • Exempt vs. Non-Exempt Classification (complies with the new 2020 Fair Labor Standards Act)
HR Regulatory Content
We’ve rounded up the latest HR-related state regulatory content (not related to COVID-19) you need to know for April and May. Check the state regulatory updates.
Learn more about the Risk Management Center, a unique web-based software suite of safety and risk management tools designed to empower your organization’s risk prevention efforts. The Risk Management Center is right for any organization that wants to.

You’ll learn:

  • Proactively manage risk exposures
  • Develop effective workplace safety programs
  • Reduce claims, losses, and associated costs
For more information Just Contact me.
M. Brant Watson
Senior Vice President
Heffernan Insurance Brokers
Office 800-234-6787
Mobile  925-330-1151

Insurance renewal creates an excellent opportunity

What is Social Inflation?

Social inflation generally refers to the rising costs of insurance claims that are a result of societal trends and views toward increased litigation, broader contract interpretations, plaintiff friendly legal decisions, and larger jury awards.

For those who are serious about controlling the total cost of risk, we offer a wide range of loss sensitive, alternative risk management capabilities including self-insurance, partial self-insurance, large deductible and captive insurance arrangements.

Heffernan continues to offer a client platform that features unique carrier access and proactive, and hands on advocacy in the rapidly changing and challenging commercial insurance marketplace.
 I believe the odds are very good that we can make a very favorable impact on your commercial insurance placements via a fiercely proactive brokerage experience.

Just contact me.. Thanks

Brant Watson
Senior Vice President
Heffernan Insurance Brokers
Office 800-234-6787
Mobile  925-330-1151
LINKED In

Why Business Should Prepare Now for Insurance Market Hardening

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You might not realize it, but times have been pretty good for insurance customers. Although there have been some exceptions, for the most part, premiums have been steady or even reducing for years now. This may be about to change.

Why are market conditions changing? Because insurers are experiencing higher than expected losses. According to the 2019 A.M. Best Market Segment Report, the reported combined ratio for the P&C insurance industry has been above 100 – indicating an underwriting loss – since 2016. In 2017, the combined ratio reached 104.

If these losses continue, rate increases will follow. Securing coverage may become more challenging. Essentially, we may be looking at a hard market.

What’s driving higher-than-expected losses?
With property insurance, natural disasters are mostly to blame. The A.M. Best report says that Hurricanes Harvey, Irma and Maria contributed to near-record high U.S. catastrophe losses in 2017, with net catastrophe losses of $53 billion. Then in late 2018, the U.S. was hit with Hurricane Michael as well as the California wildfires, resulting in net catastrophe losses of more than $37 billion.
How can you prepare for a hard market?
Brant Watson
Senior VP
D: 925.295.2506
C: 925.330.1151
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