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3 factors influencing the work comp insurance market in 2022

The workers compensation insurance market remains strong despite experiencing an eighth straight year of rate decreases.
https://www.markel.com/insurance/insights-and-resources/factors-influencing-work-comp-insurance-market

Managing high injury rates for new and inexperienced workers

According to the US Bureau of Labor Statistics, more than one-third of work-related, nonfatal injuries occur in employees who have been on the job less than a year.
https://www.markel.com/insurance/insights-and-resources/managing-high-injury-rates

Insurance pricing for small business requires more effective underwriting strategies

While the availability of data continues to increase, it is also crucial that carriers translate this growing wealth of information into meaningful underwriting action.
https://www.markel.com/insurance/insights-and-resources/insurance-pricing-requires-effective-underwriting-strategies

Shareholder board diversity: New legal and legislative challenges

As many corporations publicly express their commitment to gender and racial diversity, some shareholders have filed lawsuits alleging companies are failing to achieve diversity at the executive leadership and board levels. Learn how litigation and legislation could impact future D&O (directors and officers) underwriting decisions.
https://www.markel.com/insurance/insights-and-resources/shareholder-board-diversity

How evolving ESG considerations are impacting professional liability coverages

Environmental, social, and governance considerations are having an increasing impact on how companies invest to do business sustainably.
https://www.markel.com/insurance/insights-and-resources/evolving-esg-considerations-impacting-professional-liability-coverages

Rising construction costs pose major insurance challenges—especially in catastrophe season

Property damage losses and construction liability costs can deliver a potential blow to insureds and the construction industry as the 2021 catastrophe season develops.
https://www.markel.com/insurance/insights-and-resources/rising-construction-costs

Backseat drivers of nuclear outcomes: litigation financing and letters of protection

These arrangements are here to stay for the foreseeable future, and they are making cases more difficult—and sometimes impossible—to resolve pre-trial.
https://www.markel.com/insurance/insights-and-resources/litigation-financing-and-letters-of-protection

The construction community faces growing risks related to climate change

The growth in climate-related incidents related to the impacts of climate change has placed new risk management demands on the construction industry.
https://www.markel.com/insurance/insights-and-resources/construction-community-faces-growing-risks

Technology as an enabler of the claims process

When dealing with complex claims, it’s essential to consider the role of technology through the lens of human interaction.
https://www.markel.com/insurance/insights-and-resources/technology-as-an-enabler-of-the-claims-process

Cross-laminated timber construction

With its positive attributes of being a strong, lightweight, and sustainable building product that speeds up the construction process, CLT is gaining worldwide popularity.
https://www.markel.com/insurance/insights-and-resources/cross-laminated-timber-construction

Up next: hyper social inflation?

Social inflation in the time of COVID—Is the pandemic distracting casualty insurers from the bigger threat? Social inflation in the time of COVID—Is the pandemic distracting casualty insurers from the bigger threat?
https://www.markel.com/insurance/insights-and-resources/hyper-social-inflation

Confronting the challenge of undervaluation

While catastrophes account for the most dramatic examples, the valuation gap goes beyond catastrophes alone.
https://www.markel.com/insurance/insights-and-resources/confronting-the-challenge

Addressing non-affirmative cyber

"Silent cyber"—known as policies that do not clearly state whether cyber risk coverage is included—has become a growing area of concern in the insurance industry. 
https://www.markel.com/insurance/insights-and-resources/addressing-non-affirmative-cyber

Coming to terms with climate change risk in casualty insurance

Casualty insurers must prepare and develop modeling tools to mitigate the very real potential for systemic and clash events arising out of climate change.
https://www.markel.com/insurance/insights-and-resources/climate-change-risk

Underwriting impacts: Today’s macro risk issues and how the industry needs to handle them

While the insurance industry will always face risks and challenges, the current risk environment may be the most challenging in 45 years, with multiple macro risk issues going on at the same time.
https://www.markel.com/insurance/insights-and-resources/underwriting-impacts-todays-macro-risk-issues-and-how-the-industry-needs-to-handle-them

Punitive damages: Facts, fictions, and feasibility of obtaining insurance coverage

While punitive damages are available in most types of civil litigation, the focus of this article, particularly when discussing jury awards, is primarily on personal injury litigation.
https://www.markel.com/insurance/insights-and-resources/punitive-damages

Potential pitfalls for distributors of foreign-manufactured products

Protection against lawsuits arising out of product defects can be minimal or nonexistent when the manufacturer and its insurer are located outside of the US.
https://www.markel.com/insurance/insights-and-resources/potential-pitfalls-for-distributors

Optimizing site safety can ease construction industry’s looming profit crunch

All construction projects can potentially benefit from instituting the latest best practices in managing job sites for optimized safety. Markel’s Risk Solution Services team offers a few tips to keep in mind to help optimize safety on job sites.
https://www.markel.com/insurance/insights-and-resources/optimizing-site-safety

New York Labor Law – The triad and the triumvirate

The purpose of this article is to provide an overview of the statutory provisions, recent case law of note, some unusual dynamics faced in managing these claims, and recent verdict and settlement values.
https://www.markel.com/insurance/insights-and-resources/new-york-labor-law