This report examines how legal marijuana impacts workplace safety and what accommodations, if any, employers are expected to provide for workers who use marijuana. The report also discusses how medical marijuana affects workers compensation benefits and reimbursement.
For the U.S. property/casualty (P/C) insurance industry, 2018 was a year of unusual experience. Results were good in comparison with 2017—but 2017 was a horrible year. Premiums, investment income and profits rose, buoyed by a surprisingly strong U.S. economy, but interest rates sagged, and fears of a looming recession grew.
WRAP-UP INSURANCE- Broad policy coordinated to cover liability exposures for a large group of businesses that have something in common. Might be used to insure all businesses working on a large construction project, such as an apartment complex.
CATASTROPHE REINSURANCE- Reinsurance for catastrophic losses. The insurance industry is able to absorb the multibillion dollar losses caused by natural and man-made disasters such as hurricanes, earthquakes and terrorist attacks because losses are spread among thousands of companies including catastrophe reinsurers who operate on a global basis. Insurers’ ability and willingness to sell insurance fluctuates with the availability and cost of catastrophe reinsurance. After major disasters, such as Hurricane Andrew and the World Trade Center terrorist attack, the availability of catastrophe reinsurance becomes extremely limited. Claims deplete reinsurers’ capital and, as a result, companies are more selective in the type and amount of risks they assume. In addition, with available supply limited, prices for reinsurance rise. This contributes to an overall increase in prices for property insurance.See Full Glossary
For immediate release New York Press Office: 212-346-5500; email@example.com NEW YORK, June 25, 2019—The growing state-level acceptance of medical and recreational marijuana poses a dilemma for the U.S.’s workers compensation insurers as the federal government still considers the drug a controlled subst… Read More
For immediate release New York Press Office: 212-346-5500; firstname.lastname@example.org NEW YORK, June 19, 2019—The number of lightning-caused U.S. Read More