Jacob Killeen-Insurance Advisor

CONSTRUCTION INFLATION ALERT:
The construction industry is in the midst of a period of exceptionally steep and fast-rising costs for a variety of materials, compounded by major supply-chain disruptions and stagnant or falling demand for projects—a combination that threatens the financial health of many contractors.
Although the overall economy has strengthened significantly in the past few months and appears to be headed for further growth, the construction industry has experienced a much more uneven recovery. Lagging demand for numerous types of nonresidential construction is keeping many contractors from passing on their added costs. This combination of steeply rising costs and nearly stable bid prices threatens to push some firms out of business and keep the industryʼs unemployment rate unacceptably high.
Contractors need, more than ever, to closely monitor costs and delivery schedules for materials and to communicate information with owners, both before submitting bids and throughout the construction process.
I try and give my clients every and any critical information that will add value and help build their bottom line. Anyone who reads this, I hope this brings added value to your business.
Jacob Killeen - Frost Bank/Insurance Advisor

OSHA has laid out some additional information regarding Electronic Reporting for injured employees.

***If you are in a high-risk industry, this is crucial information to follow.***

If you would like to rest of the document, please message me. The document will include other links to compliance studies and press releases.

EDUCATE YOUR EMPLOYEES ON CYBER RISK. Whether your work is at home or back in the office. It is always important to stay on top of the cyber risks that are out there. Here are some tips and tricks to staying safe while working on any network.

Safety matters when you are working in the oil and gas field.

Here are some daily tips that you can add at your site that will help your day to day activities on site.

During record hot summer, it is important that you prevent heat illnesses at work.

Take a look at this awesome diagram to help you prevent what could be a huge accident in your facility.

A little tip for restaurant owners. If you're looking to open up your own restaurant, contact me for updated details on safety measures through OHSA compliance.

Cyber attacks are one of the biggest threats to a business's operations. Whether accidentally sending capital to the wrong bank account or a hacker releasing private information through your system; having cyber insurance is just as important as having property insurance. Message me and we can find a policy that correctly fits your needs.

My firm participated in a webinar this past week about Cyber technology and ransomware with companies like AM Best, Aon, and Markel.

Discussion included, that cyber premiums had increased almost 20%, compared to the 4% of the P/C market. Along with a 68% increase in cyber losses.

Ransomware and Cyber losses are becoming the most dangerous loss to businesses nowadays. Yet, there are ways of mitigating losses and insuring your business in the right way.

Contact me if you are interested!

Commercial Auto's Insurance saw its best year in 2020. Partly due to the pandemic, fewer autos were on the road. However, this is a huge breakthrough in the insurance market that we are in today. With rising property rates general liability rates, Worker's Compensation and Auto Insurance should be keeping your premiums relatively the same.

!!Updates to OHSA compliance for the second quarter!!

The major changes are revised health hazard definitions, updates to content labels, and heat-related illness procedures.

If you'd like more info, DM me and I can send you my resource.

Has your Worker's Compensation paid dividends yet?

If you haven't had a Worker's Compensation claim in more than 5 years, WC companies owe you dividends. Talk to your agent and see if this is the case for you.

Some helpful information when a WC claim happens on your facility.

-The best advice here is to have a smooth and successful workplace incident investigation process. When an employee is injured on the job, there should be a step-by-step process of how to investigate, determine, and file a claim.