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Law Firm Benefits, Risk & Insurance: 21 Predictions for 2021

2021 has kicked off with the promise of a new year. The events and changes of 2020 will have a lasting impact on the way law firms conduct their business this year and for the foreseeable future. While making predictions can be challenging in stable environments, the lasting impact of last year make it even trickier in 2021. The EPIC team of Law Firm Experts is taking on that challenge with our 21 predictions for what law firms should expect for their benefits, risk, liability, and changing workforce dynamics in 2021. Remote Working Working from home became the new normal …

https://www.epicbrokers.com/insights/law-firm-benefits-risk-insurance-21-predictions-for-2021/

OSHA Recordkeeping Requirements

National Construction Practice Safety Alert The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) reminds employers that the agency will begin collecting calendar year 2020 Form 300A (Log of Work-Related Injuries and Illnesses) data starting on January 2, 2021. Some employers must submit the form electronically by March 2, 2021, and the completed form must be posted in a common area where notices to employees are usually posted from February 1 to April 30. Electronic submissions are required by establishments with 250 or more employees currently required to keep OSHA injury and illness records and …

https://www.epicbrokers.com/insights/osha-recordkeeping-requirements/

Social Inflation: Defining and Mitigating an Emerging Risk

Considered a significant emerging risk for the insurance industry, social inflation refers to the trend of rising insurance costs resulting from increased litigation, plaintiff-friendly judgements and higher jury awards, which are ultimately fueled by social trends.1 Specifically, anti-corporate sentiment and significantly increased jury awards against corporate policyholders (i.e. “nuclear verdicts”). More broadly, social inflation is the term used to describe growth in liability risks and costs related to litigation trends.2 In 2019, there were 74 class action settlements totaling $2 billion and four mega-settlements greater than $100 million, representing 45% of all settlement dollars …

https://www.epicbrokers.com/insights/social-inflation-defining-and-mitigating-an-emerging-risk/

OSHA 300 Recordkeeping Webinar Recordings Available

Webinar Recordings Now Available EPIC hosted an OSHA Recordkeeping Overview, followed by a Deep Dive into Common Recordkeeping Errors and Misunderstandings Put your best foot forward in 2021 by catching up on critical OSHA recordkeeping information. Watch our recordings to ensure you’re fulfilling all OSHA recordkeeping obligations. Part 1: OSHA Recordkeeping Overview This webinar covers applicability, Forms 300, 300A, 301, the definition of first aid, recordable, restricted duty, day away from work, and death, along with counting days, and the posting and submittal of recordkeeping information. Download the Presentation Watch Recording Part 2: Common Errors and Misunderstandings This webinar …

https://www.epicbrokers.com/insights/osha-300-recordkeeping-webinar/

EPIC Announces Additions to National Private Client Practice

… accomplished team, our clients will benefit from the experience, insight and attention to detail of professionals who are singularly focused on expanding our valuable asset protection services to highly successful individuals and their families,” said Tim Brenneman, President of the EPIC Private Client Practice. Petterson brings decades of experience providing risk management and tailored service to highly successful individuals and their families. After working for 15 years as a top-performing Vice President for Marsh & McLennan Companies, Petterson founded the Seeman Holtz Private Client Group. In less than two years, he grew it to become a Cornerstone Agency with Chubb …

https://www.epicbrokers.com/insights/epic-announces-additions-national-private-client-practice/

Galway Insurance Holdings Secures Majority Interest from Harvest Partners

… within insurance distribution. This recapitalization provides us with the ability to be opportunistic in today’s market; to grow and expand each of Galway’s related specialty strategies around retail brokerage, risk management, wholesale brokerage, program administration and underwriting management.” EPIC CEO, Steve Denton said, “The addition of Harvest Partners and the ongoing commitment of both Oak Hill and Carlyle allows our retail platform to continue our exponential growth in all aspects of our business which now includes comprehensive, nationwide solutions across industry focused practices in employee benefits and property & casualty along with dedicated resources in areas like risk management,

https://www.epicbrokers.com/insights/galway-insurance-holdings-secures-majority-interest-from-harvest-partners/

California Standards Board Passes Sweeping Cal/OSHA Emergency COVID-19 Prevention Regulation

On November 19, 2020, the Cal/OSHA Standards Board, despite objections from employers, trade associations and business groups, approved an emergency regulation pertaining to the policies and protocols employers will be required to comply with around COVID-19 prevention. The regulation was drafted through the emergency hearing process. Unlike past emergency regulations, no advisory board was created to allow stakeholders to provide feedback/comments about the requirements.  The draft of the emergency regulation will be sent to the Office of Administrative Law (OAL) for review followed by five days during which stakeholders may submit comments. Once the OAL adopts the …

https://www.epicbrokers.com/insights/california-standards-board/

Spotlight on The EPL Market 

The Perfect Storm: The COVID Economy and the Movement for Racial Justice The Employment Practices Liability (EPL) market made swift adjustments at the onset of the COVID-19 pandemic. Layoffs, furloughs, pay reductions, and remote work arrangements had EPL underwriters anticipating a significant increase in employment litigation. In anticipation of the increased risk, EPL insurers began increasing rates and retentions, reducing capacity, tightening coverage terms and enhancing the underwriting process. Just as the EPL market was starting to adjust to the COVID economy, a powerful social justice movement, demanding the dismantling of systemic racism, began to gain significant support and …

https://www.epicbrokers.com/insights/spotlight-on-the-epl-market/