Welcome to the Fall Edition of the Gallagher Food and Agribusiness newsletter Field to Fork. Inside this issue you can find articles on the following: Product Recall, Weather Risk Management, Cold Storage Losses Lead to Multiple Insurance Problems and current product recalls.
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The best thing about cloud-based software is the ease in which it is upgraded. The worst thing about cloud-based software is the ease of which it is upgraded. Great new features in HR technology go unnoticed because there is no formal process to optimize your software. Gallagher's HR and Benefits Technology team can help guide you to better organizational wellbeing with optimized HR technology.
Directions newsletter is a monthly publication of the Benefits and HR Consulting practice of Arthur J. Gallagher & Co. The January 2019 issue includes articles about EEOC’s ADA and GINA wellness regulations, proposed rescission of the HPID, the PCORI fee, employers investing in benefits, a new employment rule in Vietnam, guidance on finding missing pension participants, a blue-collar work shortage, a Michigan leave law and HICA repeal, other state law developments, and some important reminders.
This Gallagher toolkit will help you better understand and better prepare for the fees that lie ahead. It emphasizes four major fees: the Patient-Centered Outcome Research Institute Fee (PCORI Fee), the Transitional Reinsurance Fee, the Health Insurer Fee, and the Excise Tax on High-Cost Health Coverage ("Cadillac Tax").”
The marketplace for Kidnap and Ransom (K&R) insurance remained stable and competitive through 2018. Premiums are as low as $400 per million limit for companies with limited foreign exposure (locations or travel). For companies with higher exposures including foreign travel and locations, premium is around $1,000–$3,000 per million of coverage limit. Coverage is broad, but broker expertise is needed to ensure the policy contains all applicable enhancements, such as Workplace Violence, Child Abduction and Cyber Terrorism.
As we head into 2019, the current state of the R&W insurance market remains very strong. Over the past twelve months, we witnessed continued growth in the use of R&W insurance as it has moved from commonplace to the norm in M&A transactions.
The Life Sciences industry is highly regulated and requires strong partnerships to successfully bring a product to market. As a company prepares for the approval of the FDA planning of its’ commercial supply chains will likely involve a review of the critical Contract Manufacturing Organizations (CMOs).
The private and nonprofit D&O marketplace for 2019 has continued the trends of 2018 and can best be described as fragmented. Most insureds experienced flat renewals in 2018, as evidenced in graph 1, with rate changes from -9% to +9%.
Overall, the Commercial Crime insurance market remains stable with relatively flat renewal premiums. That said, insurers are attempting to charge for significant ratable exposure growth.
This Weekly Market Update reviews the top three market headlines: Inflationary Pressures Eased in December, Mortgage Rates Fall to Recent Lows, Fed Chairman Signals Flexibility on Rates.