Industry News
Author, Drew Garcia, Vice President of the Landscape Group, Rancho Mesa Insurance Services, Inc.
The workers’ compensation market for landscape companies in California has remained in a downward trend since 2015. As a result, landscape business owners have realized lower rates and subsequently aggressive premiums. The following are some key insights to help landscape businesses prepare for their 2021 workers’ compensation insurance renewal.
Author, Drew Garcia, Vice President of the Landscape Group, Rancho Mesa Insurance Services, Inc.
Landscape companies with a low Experience Modification Rating (XMOD/EMR) typically exhibit similar best practices when dealing with work-related injuries. Their proactive approach helps close claims faster and return employees to work sooner than their counterparts.
Author, Chase Hixson, Account Executive, Rancho Mesa Insurance Services, Inc.
Businesses of all sizes across the country have been impacted by COVID-19 in some way or another. As we begin to phase back into the “new normal,” the insurance industry is seeing several changes within the non-profit sector that will significantly impact pricing and coverage, moving forward.
Author, Daniel Frazee, Executive Vice President, Rancho Mesa Insurance Services, Inc.
In response to the COVID-19 pandemic and ensuing shelter in place restrictions, many non-essential businesses have been shuttered for several weeks. As those businesses deal with the massive revenue and employee losses, building owners must be cautioned to review their property policies closely for vacancy provisions and exclusions.
Author, Matt Gaynor, Director of Surety, Rancho Mesa Insurance Services, Inc.
Getting paid on time by project owners is essential! As construction companies attempt to collect their account receivables, a frustration builds as the overdue payments stretch from 60, to 90, to over 120 days. You might have already paid certain suppliers or subcontractors, and now your cash flow is getting stretched because your receivable has been delayed. If this is a bonded project – you do have an additional avenue of recourse to collect.
Author, Sam Brown, Vice President, Human Services, Rancho Mesa Insurance Services, Inc.
Business leaders across the country head into each year with questions regarding the upcoming business insurance renewal process. Owners and officers alike rely on their insurance broker to help them navigate these uncertainties. What should a best practice renewal process look like?
Author, Jim Malone, Workers’ Compensation Claims Advocate, Rancho Mesa Insurance Services, Inc.
Timely reporting of an employee’s work-related serious injury, illness or death can pose a challenge to the employer. As of January 1, 2020, these incidents (including any hospitalizations, unless the injured worker is admitted for medical observation or diagnostic testing) must be reported immediately to Cal/OSHA. Immediately means as soon as practically possible but not longer than 8 hours after the employer knows or, with diligent inquiry, would have known of the serious injury, illness or death.
Author, Chase Hixson, Account Executive, Human Services Group, Rancho Mesa Insurance Services, Inc.
Many of our clients have opted for alternative options to the standard insurance programs most are accustomed to purchasing to cover their property. These alternative approaches are allowing our clients to save money while still insuring their property to a level that they feel comfortable.
Author, Daniel Frazee, Executive Vice President, Rancho Mesa Insurance Services, Inc.
While costs associated with auto liability continue rising across the country, there are risks within existing fleet safety programs that often get overlooked. If your business allows employees to use personal vehicles to conduct business even just occasionally, you could be exposing your firm to considerably more risk.
Author, Andy Roberts, Account Executive, Surety Division, Rancho Mesa Insurance Services, Inc.
The construction industry is currently booming. According to a survey conducted by the AGC of America, and a recent article written by Rancho Mesa’s Kevin Howard, the industry shows no signs of slowing down, as 80% of contractors predict growth in 2020. While that’s great news for the industry, we are starting to see some trends that can cause some issues for contractors.
Author, Kevin Howard, C.R.I.S., Account Executive, Rancho Mesa Insurance Services, Inc.
Based on a recently published survey from the Associated General Contractors of America, 80% of contractors predict growth in 2020…but there is a twist. There is a major labor shortage.
Author, Drew Garcia, Vice President, Landscape Group, Rancho Mesa Insurance Services, Inc.
California business owners are aware that their experience modifier (XMOD) is published annually, roughly three to four months before the expiration of their current workers compensation policy term. However, more often than not, companies are missing an incredible opportunity to make an impact on the calculation of their XMOD by strategically evaluating their work comp claims prior to the most critical month in the XMOD calendar known as Unit Stat.
Author, Casey Craig, Account Executive, Rancho Mesa Insurance Services, Inc.
When business owners are asked if their employee handbooks are up to date, they typically shrug and say “It’s something we have been meaning to tackle.” It is hard to blame them when it often feels as though a newly revised employee handbook quickly requires an update due to changes in employment laws! There is a significant need for an easy to use option where employers can have an up to date handbook throughout the year and, have it generated at no cost. Rancho Mesa provides that solution.
Author, Matt Gaynor, Director of Surety, Rancho Mesa Insurance Services, Inc.
In the world of surety bonding, the various financial information the bond underwriter will analyze includes the Balance Sheet, Income Statement, A/R & A/P Aging, Bank Line of Credit, Work In Progress Schedule, and the owner’s personal financial statement. This is to determine the level of single project and aggregate program credit line to support the contractor’s bonding.
Author, Sam Clayton, Vice President, Construction Group, Rancho Mesa Insurance Services, Inc.
When we hear of a data breach, we typically think of large corporations or more recently municipalities that collect customers’ personal identification information or are using technology to manage physical locations (i.e. buildings), transit systems, and people. However, just about any large, medium or small organization that uses technology to operate their business faces a cyber-exposure.
Author, Sam Brown, Vice President, Human Services Group, Rancho Mesa Insurance Services, Inc.
California Governor, Gavin Newsome, signed a new state law on October 13th, 2019 to better protect California’s survivors of child abuse. In response, youth organizations and insurance companies expect a surge in legal activity in 2020.
Author, Jim Malone, Workers’ Compensation Claims Advocate, Rancho Mesa Insurance Services, Inc.
A work-related injury is a traumatic event for your employee and their family. Even though your employees are trained and educated to immediately report work injuries, it is sometimes difficult for them to do so.
Author, Chase Hixson, Account Executive, Human Services Group, Rancho Mesa Insurance Services, Inc.
For years, the insurance marketplace for non-profits, specifically general liability, abuse, property and management liability have been somewhat stable (subject to loss history, of course). Unfortunately, that is looking to change as the marketplace braces for significant correction.
Author, Shane Medlin, Employee Benefits Account Executive, Rancho Mesa Insurance Services, Inc.
California’s Governor Gavin Newsom, announced a health care plan to address a fragmented healthcare system that leaves many residents priced-out or underinsured. His goal is to expand healthcare access and make prescription drugs more affordable. Californians could see lower insurance and prescription drug prices, if his new laws work as intended.
Author, Andy Roberts, Account Executive, Surety Division, Rancho Mesa Insurance Services, Inc.
In California, when a contractor opts to organize their business as a Limited Liability Company (LLC) they are required to maintain an LLC Employee/Worker Bond in the amount of $100,000 in order to obtain their Contractors License, per the California Business and Professions Code, Section 7071.6.5. After our clients receive notice of this requirement, we are often asked why this bond is required and what does it protect against.
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