Insight & advice from the experts at Marshall & Sterling

The Most Common Hazard in the U.S.: Is Your Business Protected from Flood Risks?
A study published in the Nature Climate Change journal predicts that the annual cost of flood damage in the United States will increase by more than 25% by 2050—from $32 billion to $40.6 billion.

The impact of floods on businesses can be devasting, resulting in lost production, sales, income and labor time; transportation costs; decreased tourist activity; and utility disruptions. In fact, 40% of small businesses never reopen following a natural disaster, according to FEMA and the U.S. Department of Labor.
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Controlling Premium Audits to Eliminate Overcharges
Due to the volume of requests they receive, insurance companies have developed a very efficient premium audit process. While they strive to be as accurate as possible, they don’t have the time or resources to investigate and resolve every possible error or ambiguity that presents itself. As a result, your company may experience multiple, unintentional overcharges. If you know the rules, you can take control of the process by anticipating and preparing the exact information your insurance company needs to prevent inadvertent overcharges, saving your company money in the process.
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Commercial Insurance Trends to Watch in 2024
Insurance experts often examine how outside trends, reforms and movements in the larger economy affect the insurance marketplace, and businesses should follow suit to determine what factors may impact their coverage. For 2024, there are a host of sweeping market developments to consider.
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Surplus Lines Premiums Hit Nearly $73 Billion in 2023
The excess and surplus lines market saw another banner year of premium growth in 2023, rising 14.6% to reach $72.7 billion, according to new figures released by the Wholesale & Specialty Insurance Association (WSIA).
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IRS Releases ACA Pay-or-Play Penalties for 2025
On Feb. 12, 2024, the IRS released updated penalty amounts for 2025 related to the employer shared responsibility (pay-or-play) rules under the Affordable Care Act (ACA). For calendar year 2025, the adjusted $2,000 penalty amount is $2,900, and the adjusted $3,000 penalty amount is $4,350. This is a decrease from the penalty amounts for the 2024 calendar year, which are $2,970 and $4,460, respectively.
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Personal Injury Protection Coverage
Personal injury protection (PIP) is a type of auto coverage that can help pay for your medical bills and passengers’ medical bills if you’re in a vehicular accident, regardless of fault. In some states, PIP can even offer coverage if you’re injured by a vehicle as a pedestrian, cyclist, or passenger involved in an accident. Also known as no-fault insurance, this coverage is required in certain states and optional or not offered in others. Learn more about PIP coverage below.
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Duties in the Event of a Commercial Property Loss
Most people understand that insurance companies have a duty to reimburse insureds for commercial property damage not excluded by their policies. What’s lesser known is that if a loss does occur, insureds also have duties they owe to their insurance company. Many commercial property insurance policies include language detailing steps that must be taken following a loss. Failure to fulfill these responsibilities can potentially lead to a claim being denied, a delay in claim payments, nonrenewal or even cancellation of the policy.
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Types of Transitional Duties in Return-to-Work Programs
When an employee experiences an occupational illness or injury, their eventual return to the workplace can create considerable challenges, putting significant stress on both the individual and their employer. Nevertheless, return-to-work (RTW) programs can help alleviate these concerns by supporting staff as they reintegrate into the workforce. These programs may entail having an injured employee return to work with shortened hours, lighter workloads or different tasks (also known as transitional duties) as they continue to recover from their occupational ailment.
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A Common Cause of Work-Zone Fatalitiy in Construction: Motorized Vehicle Hazards
You operate heavy machinery on a regular basis, so you know many of the hazards you face. But you may not realize that letting an extra person ride on equipment intended to transport only one person is asking for an accident.
It is important that everyone on the job site is familiar with the dangers of extra riders on equipment, so that we can ensure everyone’s safety and protection.
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Benefits of Return-to-Work Programs for Employers and Employees
According to the National Safety Council, a worker gets hurt on the job every seven seconds. And when an employee experiences an occupational illness or injury, their eventual return to the workplace can create numerous challenges, putting significant stress on both the individual and their employer.
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