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In recent years, the general liability market has consistently underperformed, resulting in heightened underwriting losses and subsequent rate increases.

As worsening social inflation concerns, surging medical expenses and the ongoing COVID-19 pandemic continue to contribute to a rise in liability claim frequency and severity, the market has preceded to harden. Due to these market conditions, we predict that most policyholders will encounter another year of rate increases across their liability lines in 2021. Many insureds may also experience lowered capacity and further underwriting scrutiny during the renewal process. Policyholders who operate in sectors with elevated general liability exposures may be more prone to double-digit rate increases and experience difficulties securing higher coverage limits.

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News Brief header The Federal Emergency Management Agency (FEMA) announced that it will be updating the National Flood Insurance Program (NFIP) pricing methodology through a new risk rating system.

According to FEMA, this system—which is being referred to as “Risk Rating 2.0”—will leverage additional information and variables to help communicate policyholders’ flood risks more clearly, as well as deliver more accurate and equitable premium rates. The NFIP currently provides nearly $1.3 trillion in coverage for over 5 million policyholders throughout the country.

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Construction Site Safety Considerations for Spring

As the winter season—and the frigid conditions that accompany it—officially concludes, construction employers like you can start preparing for spring projects. Nevertheless, spring weather comes with its own set of risks. After all, this season is often the most difficult to navigate in the scope of working outdoors. Between fluctuating temperatures, frequent rain showers, fog, heavy winds and lightning concerns, it’s important to be aware of spring-related hazards and how to best protect your workforce from these seasonal issues. As such, consider these worksite safety considerations for spring:

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Legal Update Header The portal for private-sector employers to submit equal employment opportunity (EEO-1) workforce data from 2019 and 2020 will open on April 26, 2021, the U.S. Equal Employment Opportunity Commission (EEOC) announced March 29, 2021.

The agency also announced that the deadline for submitting 2019 and 2020 EEO-1 data is July 19, 2021. This data collection was previously delayed due to the coronavirus pandemic.

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HR Insights Blog Header By leveraging technology in learning and development efforts, employers can help engage employees, improve the employee experience and create efficiencies in learning and development.

As organizational needs accelerate and evolve, it’s important that employees also have the necessary skills to succeed. A tech-enabled learning and development strategy can also address today’s talent shortages and skills gaps. This article explores technology trends and how technology can shape and streamline learning and development initiatives.

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Legal Update Header On March 29, 2021, the Internal Revenue Service issued Notice 2021-21, which extends tax deadlines for filing Form 1040 series returns and other deadlines to May 17, 2021.

The Notice, issued as a result of the ongoing COVID-19 pandemic, follows a prior IRS extension (also to May 17, 2021) of the federal income tax filing due date for individuals for the 2020 tax year. The Form 1040 series includes Form 1040, Form 1040-SR, Form 1040-NR, Form 1040-PR, and Form 1040-SS. Businesses and other types of taxpayers that file federal income tax returns on forms outside of the Form 1040 series are not eligible for the extension. In addition, the Notice does not alter the April 15, 2021 deadline for estimated tax payments.