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So far RiskInnovationsLLC has created 18 blog entries.

Don’t Get Railroaded on Your FELA Claim

Almost all private employees in the United States can collect workers’ compensation if they are injured on the job. Railroad employees are the exception to the rule, as they must file for damages through The Federal Employers Liability Act (FELA). FELA was created in 1908 when railroad use was expanding rapidly in the United States. [...]

By |2019-04-16T22:33:33-04:00April 15th, 2019|Business, Insurance, Workers' Compensation|0 Comments

Busted! Corrupt Professionals Sentenced in $200M Workers’ Comp Scheme

We’ve all heard stories about someone faking a workplace injury in the hopes of profiting from a Workers’ Comp pay-out.  But what happens when doctors, medical service providers, attorneys, and other professionals conspire to scam the Workers’ Comp system for millions of dollars? Sentencing hearings were recently held in California for participants in a [...]

By |2019-03-24T16:12:48-04:00March 21st, 2019|Insurance, Workers' Compensation|0 Comments

The Importance of A Personal Articles Floater

A common misconception of homeowners is that all personal belongings are covered under their insurance policy.  Unfortunately, there are several capped coverages for the items people deem most important (think maximum jewelry limit of $5,000 in some cases).  A separate Personal Articles Floater (PAF) policy is critical to ensure your clients have the coverage [...]

By |2019-03-24T16:06:17-04:00March 14th, 2019|Insurance, Personal Lines Insurance|0 Comments

New Signs of a Changing Market for Workers’ Compensation

There has been a steady decline in Workers’ Compensation rates since the beginning of 2015, which is attributable to the overall market softening.  However, we are starting to see profit margin compression.  Medical loss cost severity is rising, benefits from prior accident year reserve redundancies are declining, and the growing involvement of attorneys is [...]

By |2019-02-19T11:27:14-04:00February 4th, 2019|Safety, Workers' Compensation|0 Comments

How to Navigate the Treacherous Waters of USL&H

There are a great number of commercial industries that operate their business on or near water.  Unfortunately, there are also too many commercial clients that have a standard Workers’ Compensation policy and THINK they have USL&H coverage (or worse, don’t even know that they need it).  Even some of the best insurance underwriters miss [...]

By |2019-03-26T10:42:07-04:00January 21st, 2019|Insurance, Safety, Workers' Compensation|0 Comments

Workers’ Comp Benefits and Costs Continue to Decline

The National Academy of Social Insurance (NASI) 2018 Workers’ Compensation Benefits, Costs and Coverage report, underscores a trend: The US economic recovery has spurred growth in employment and also a corresponding increase in employees covered by workers’ compensation as benefit costs continue to decline. In general workers’ compensation benefits as a share of payroll [...]

By |2019-02-19T11:16:09-04:00January 10th, 2019|Industry Update, Safety, Workers' Compensation|0 Comments

Difficult Homeowners Risks Just Got Easy!

Let’s face the facts:  Your clients are going to have homeowners’ claims.  They are going to buy that coastal secondary home in Florida or California and call you the day of closing for coverage.  They are going to rent out their seasonal home on AirBnB.  They are going to tell you there is a [...]

Remote Employee Trends Create New Challenges in Workers’ Compensation

The workplace as we know it has dramatically changed over the last few years.  Daily commuting to a traditional office space has been replaced with virtual offices, collaborative workspaces and remote employees.  According to recent studies, regular work-at-home, among the non-self-employed population, has grown by 140% since 2005, nearly 10x faster than the rest of the [...]

Sharing Economy Trends Pose New Concerns for Insurance Coverage Gaps

Over the last few years, an entirely new way to add to household income has entered the market place. It’s called the “sharing economy.” This is an exciting and profitable industry but far too often homeowners forget a crucial step: insurance. According to Forbes: “The sharing economy is currently worth about $26 billion and [...]

Best Ways to Win New Clients

Building demand for your services takes time and effort and creativity. Many agencies operate in outdated and inefficient ways. Spending time on planning and marketing can yield results in a predictable and sustainable way.  Here’s a short list of what you can do to “beef up” your pipeline of new clients and relationships. 1. Refresh your [...]

By |2019-01-31T14:36:54-04:00November 12th, 2018|Insurance|0 Comments