You are now leaving Univest.net. Univest Financial Corporation (together with its subsidiaries and affiliates, "Univest") is not responsible for, and expressly disclaims all liability related to, any third-party site. Univest has no control over the contents of third-party sites and accepts no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to access any third party websites, you do so entirely at your own risk and subject to the terms and conditions of such websites. Univest does not endorse any third party websites, the contents of such websites or the operators of such websites.
By:
Reggie Reiter, Senior Vice President, Commercial Lines Team Leader November 1, 2022
2022 has been a year of tremendous instability in the insurance market. Supply chain disruptions, labor shortages, geopolitical instability, and inflation (both economic and social), have challenged the most seasoned executives and business owners in ways they could never have imagined. As we prepare to close out 2022 and begin forecasting for 2023, our hope is that this short article gives you a glimpse of what we’re expecting from the Property & Casualty business insurance market in the year ahead as well as a few things businesses can do starting today to put themselves in a position…
By:
Reggie Reiter, Senior Vice President, Commercial Lines Team Leader October 4, 2022
Insurance costs for builders and contractors are on the rise. While it is helpful to understand the why, more important is understanding what you can do to help suppress these cost increases. Here are a few things that builders and contractors can do to help put them in a more favorable pricing position:
Complete a full loss control assessment of your safety practices. Do you have a formal safety program? A safety manual? When was the last time they were updated? Do you have daily “toolbox talks” or other sharing sessions? …
By:
Kathy Delp, Senior Vice President and Personal Lines Manager, Univest Insurance, Inc. May 10, 2022
Even if you haven’t submitted a claim recently, you may have had an unpleasant shock when opening your most recent renewal invoice. As nerve wracking and frustrating as it can be to see an unexpected uptick in your premium, it’s important to understand what is driving this increase and even more critical to know what you can do about it.
Unfortunately, along with other aspects of our financial world, auto and homeowner’s insurance rates are being driven higher by many of the same factors. Here are several that are particularly impactful: • Last…
By:
Jim Devine, HR Practice Leader, Univest Insurance, LLC December 29, 2021
With the unprecedented talent shortages being experienced in just about every industry and geography, employers have been turning to less conventional approaches to enhance job offers. One such approach becoming more widespread is a signing bonus. While this is not uncommon for more senior level positions, it’s traditionally not as prevalent among entry level new hires. Recent examples include:
Amazon offered a signing bonus of up to $3,000 to warehouse and logistics applicants as part of its massive holiday hiring initiative. Bonus amounts varied based on geographic market, part-time vs. full-time status, work shifts, etc.
Due to the ongoing COVID-19 pandemic, healthcare companies have been forced to accelerate their digital transformation efforts out of necessity. We have seen more and more companies become comfortable with digital-first interactions and it seems that the old model of benefits administration is long gone. Even before COVID-19, digital was a goal for many companies. This stemmed from a commitment to improving the consumer experience as well as making healthcare and benefits more accessible and understandable. The pandemic has sped up the evolution.
For many companies, work-from-home arrangements remain in place, so there isn’t going to be a traditional enrollment…
By:
Brian Deutsch, Risk Management & Safety Consultant, Univest Insurance, Inc. October 13, 2021
October is National Fire Safety Month. Although the prevention of residential fires is the focal point of the month, employers should also spend some time reviewing workplace fire safety and prevention as it pertains to employees, equipment and property. In 2019, there were 99 occupational fatalities involving fire according to the U.S. Bureau of Labor and Statistics.
Here are some steps to help prevent or prepare for a fire-related emergency at your facility:
Practice good housekeeping throughout your facility to eliminate potential fuel sources as well as trip hazards when evacuating the premises.
By:
Reggie Reiter, Senior Vice President, Commercial Lines Team Leader
It’s imperative that insurance brokers do our part to raise awareness about the importance of cybersecurity for individuals and businesses. Cyber insurance is a component of a healthy cybersecurity strategy yet many businesses, both small and large, continue to operate without proper coverage. I recently sat down with Travis Whitmill, Vice President of Evolve, a nationally recognized cybersecurity insurance specialist, to discuss everything cyber insurance. Evolve was named “Advisen Cyber MGA of the Year” in 2020 and 2021.
1. Cyber insurance is still foreign to many businesses. How would you describe it in 30 seconds to a business owner?
By:
Jim Devine, HR Practice Leader, Univest Insurance, LLC September 29, 2021
Prolonged medical absences with indefinite timelines and lack of clear justification can be paralyzing to business leaders and HR managers, particularly in smaller work environments. Although employers may feel entitled to more information than the employee is providing, they may not be entirely clear about the implications of asking for medical documentation.
Employers with less than 50 employees not subject to the Family & Medical Leave Act in particular, may adopt less rigorous procedures when dealing with medical leaves. And, in what I’ve seen become more of the norm, employers in this space are not requiring documentation from employees to…
Univest Insurance, LLC, a subsidiary of Univest Financial (NASDAQ: UVSP), recently announced the appointment of Kristen Dougherty as Senior Vice President and Employee Benefits Practice Leader. As Employee Benefits Practice Leader, she is responsible for leading a team of approximately 20 employee benefits consultants who serve as strategic partners for local businesses. Dougherty will guide the team in providing effective and comprehensive benefits plans aimed at attracting and retaining quality employees. She is also responsible for driving client growth.
“We are thrilled to welcome Kristen back to the Univest Insurance team,” said Ronald Flaherty, president, Univest Insurance, LLC. “The time…
By:
Brian Deutsch, Risk Management & Safety Consultant, Univest Insurance, Inc. June 22, 2021
As we shift towards a post-pandemic normal with more people returning to the office and construction and seasonal job markets increasing their workforces, it is important to remember that employers must prioritize safe work practices. You should revisit the policies that your company has implemented to ensure the safety of your workforce, remind your employees of required practices and consider if anything needs to be updated.
One of the most common risks on the job is falls. While we commonly think falls occur at height, falls also occur at ground level. To reduce or eliminate the potential for a slip and fall…
