In recent years, the insurance industry has faced considerable challenges – regulatory, technological, and economic – that have forced firms to re-evaluate their operations and strategies. As such, they are increasingly focusing on enhancing their operational resilience, acknowledging that this is a key factor in determining their long-term success. In this article, we examine recent trends and challenges facing the
The Iowa Senate has passed a controversial bill, SF 542, that would allow children to work longer hours and in jobs that are currently prohibited, such as serving alcohol. The bill has sparked a heated debate between those who support the move, saying it will modernize Iowa’s laws and teach children valuable skills through workforce training programs, and those who
The National Labor Relations Board (NLRB) recently ruled that certain non-disparagement and confidentiality provisions in severance agreements violate the National Labor Relations Act (NLRA). The Board found that these provisions unlawfully restrain employees from exercising their rights to engage in protected activity. This ruling has significant implications for employers who use severance agreements and has prompted the need to revisit
The current labor market in the United States is experiencing a shortage of workers. Lawmakers in some states are getting involved in the labor market problem-solving business themselves by proposing unconventional policies that are raising eyebrows and signaling just how desperate the situation is for many decision-makers. The concern is so great that some legislators are even considering child labor
The California Department of Fair Employment and Housing (DFEH) has proposed a potential extension of two months for employers to comply with the state’s new pay data reporting requirements. The new reporting requirements under California’s pay transparency law have caused confusion among employers and labor contractors alike. Current reporting deadline The deadline for reporting obligations for workers hired through labor
In recent years, the issue of workplace sexual harassment has come to the forefront of public discussion, with movements such as Me Too leading to increased awareness and scrutiny. To combat sexual harassment in the workplace, it is crucial for employers to have strong policies in place that clearly outline acceptable behaviors and consequences for harassment. Under New York State
The use of artificial intelligence (AI) has become widespread in several industries, including the insurance sector. AI has the potential to transform the insurance industry through increased efficiency, cost reduction, and improved customer experience. However, the introduction of AI into the insurance industry comes with its own set of challenges that can have a long-term impact. In this article, we
Human Resources (HR) compliance is crucial for every business. The term HR compliance refers to the company’s adherence to legal regulations regarding employee treatment. It’s an effort to maintain continuous compliance related to federal, state, and city laws and regulations governing employment. It’s important for the company to prioritize HR compliance to avoid legal disputes, improve workplace morale, and increase
With the pace of change in the insurance industry accelerating rapidly, Apollo Syndicate 1971 has announced the formation of its new ICX Consortium. The consortium is designed to provide a platform for innovation, enabling insurers to embrace new risk opportunities and address insurance gaps not served by traditional verticals. By creating customized insurance products outside of Syndicate 1971’s core offering,
The commercial insurance industry faces several challenges when it comes to rating policies. Traditional rating processes have been complex and challenging, with limitations that can have a significant impact on profitability. In recent years, advances in technology have begun to revolutionize the way insurers operate, with a particular focus on simplifying processes and driving efficiency. One such technology is Verisk’s
On March 31, 2021, the Marijuana Regulation and Taxation Act became effective in New York State, legalizing recreational marijuana for adults 21 years and older. The law also prohibits employers from drug testing for marijuana, except where mandated by federal law. The Act presents opportunities and challenges for businesses as they navigate employment policies regarding drug use. This article examines
The National Labor Relations Board (NLRB) recently made a significant decision in the case of McLaren Macomb, which has implications for both union and non-union employers in the United States. According to this decision, merely offering a severance agreement to employees can be a violation of the National Labor Relations Act (NLRA) if the agreement’s terms interfere with, restrain, or
