Gulfshore Insurance > Gulfshore Blog > Commercial Risk Management

Below is an infographic that shows how serious ransomware attacks have become. Ransomware is by far the leading data breach exposure and the ransom amounts are growing exponentially. The cost of paying the ransom is just the tip of the iceberg when it comes to resolving all of the associated attack issues.

Ransomware graphic

Working with a trusted insurance agent who has proven expertise in cyber security and familiarity with the unique risks posed to the construction industry is the best way for companies to ensure that they are adequately covered.

Gulfshore Insurance is a Naples, Florida based insurance agency specializing in business insurance including liability insurance, property insurance, workers compensation insurance, vehicle insurance, business income interruption insurance, cyber insurance, commercial umbrella insurance, and more. Our insurance and risk management advisors are industry specialists for condominium associations, golf and country clubs, oil and petroleum marketers, construction, landscaping, churches and non-profits, and work comp. Navigating insurance requires an experienced and trusted insurance agent who understands your business risks and exposures. Gulfshore Insurance services Naples, North Naples, Marco Island, Bonita Springs, Fort Myers, Sarasota, Lido Beach, Longboat Key, Bradenton Beach, and Southwest Florida. We have office locations in Naples, Fort Myers, Fort Lauderdale, and Sarasota.

Compared to the middle of their shifts, commercial drivers are 26% more likely to exhibit unsafe driving than at the start and 41% at the end of their shift. This was measured by four metrics:

  • Harsh Acceleration
  • Harsh Braking
  • Distracted Driving
  • Tailgating

Since Jan. 1, 2020, 2 million such events were detected in U.S. commercial fleets. Shift lengths ranged from four to 12 hours, but these unsafe trends appeared consistent throughout.

Aug2020 Data Insights 3 5f314d3e97df3

One statistic that jumps out is harsh acceleration. Harsh acceleration occurs 77% more often during the end of the shift than in the middle. That’s nearly double the frequency at the beginning of a shift relative to the middle (39%). Harsh braking has similar results, with 54% more likely at the end versus 28% at the beginning.

Conversely, distracted driving is 36% more likely during the first part of the shift, which is twice as much as at the middle-to-end difference.

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Commercial Lines Proposed Decrease to Florida Work Comp Rates 2021The National Council on Compensation Insurance (NCCI) recently delivered its annual workers’ compensation insurance rate filing to the Florida Office of Insurance Regulation.

Based upon its review of the most recent data available, NCCI has proposed an overall average rate level decrease of 5.7 percent, effective January 1, 2021 in Florida.

To view NCCI’s Overview of the proposed rate filing, click here.

Ryan Schmidt is a Client Advisor and Partner with Gulfshore Insurance. Ryan specializes in working with commercial clients. Comments and questions are welcome at rschmidt@gulfshoreinsurance.com.

Gulfshore Insurance is a Naples, Florida based insurance agency specializing in business insurance including liability insurance, property insurance, workers compensation insurance, vehicle insurance, business income interruption insurance, cyber insurance, commercial umbrella insurance, and more. Our insurance and risk management advisors are industry specialists for condominium associations, golf and country clubs, oil and petroleum marketers, construction, landscaping, churches and non-profits, and work comp. Navigating insurance requires an experienced and trusted insurance agent who understands your business risks and exposures. Gulfshore Insurance services Naples, North Naples, Marco Island, Bonita Springs, Fort Myers, Sarasota, Lido Beach, Longboat Key, Bradenton Beach, and Southwest Florida. We have office locations in Naples, Fort Myers, Fort Lauderdale, and Sarasota.

 

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Commercial Lines Top 10 Causes of Disabling InjuriesThe 2020 Liberty Mutual Workplace Safety Index (WSI) found that the most disabling workplace injuries cost more than $59 billion per year.

U.S. businesses spend more than $1 billion per week on the most disabling workplace injuries. Compiled annually,  the Index researched the top 10 causes of the most serious workplace injuries — those that cause employees to miss work for more than five days — and ranked those causes by their direct cost to employers, based on medical and lost-wage expenses.

Top 10 causes of disabling workplace injuries:

Top 10 2020 workplace safety index the top 10 causes of disabling injuries 700b

As businesses reassess and refine business operations, now is a good time to address the many risks that employees can face in the workplace. Liberty Mutual took the Workplace Safety Index (WSI) a step further and broke down the most costly causes of injuries into eight industry-specific reports:

 

If you have any questions, please do not hesitate to reach out to us for assistance. We are here to help.

Kim Ovaitte, CPCU, ARM is the Executive Vice President of Marketing & Sales at Gulfshore Insurance.  Also serving as the Construction Practice Leader, Kim works with clients to develop cost effective risk management and claims strategies that dovetail with their insurance program. Comments and questions are welcome at kovaitte@gulfshoreinsurance.com

Commercial Lines OSHA Guidance for Oil and Gas Industry Workers and EmployersOSHA has provided guidance for oil and gas industry workers and employers, including those in the sub-industries and tasks that make up the broader oil and gas industrial sector. This guidance supplements the general interim guidance for workers and employers of workers at increased risk of occupational exposure to SARS-CoV-2, the virus that causes COVID-19.

Remain aware of changing outbreak conditions, including the spread of the virus and testing availability in your community, and implement infection prevention measures accordingly. As states or regions satisfy the gating criteria to progress through the phases of the Guidelines for Opening up America Again, you will be able to adapt this guidance, along with the general recommendations in OSHA’s Guidance on Returning to Work, to better suit evolving risk levels and necessary control measures in your workplaces.

Click here to continue reading the OSHA Guidance for Oil and Gas Industry Workers and Employers

Dave Wissel is a Client Advisor and Partner at Gulfshore Insurance who specializes in construction, landscaping, and the oil and petroleum industries. Comments and questions are welcome at dwissel@gulfshoreinsurance.com