CONTENTS
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OSHA ’ S GENERAL DUTY CLAUSE 6 XENA THERAPIES
9 MARKETING TO STOP THEIR SCROLL Mike Michalowicz
10 COLLABORATING WITH YOUR AUDIENCE Ashley Gross
12 LEVERAGING THE 7 LEVERS OF INFLUENCE Phil Gerbyshak
14 WAYS TO FIX COMMUNICATION ISSUES IN THE WORKPLACE Zachary Amos
18 STOP “ GROWING BROKE ” BY PUTTING CASH MANAGEMENT FRONT & CENTER Verne Harnish
20 STOP WASTING WISDOM Chip Conley
22 PERSONAL BRAND FOUNDATIONS Michelle B . Griffin
26 2024 COMMERCIAL INSURANCE MARKET SNAPSHOT
29 WORKERS ’ COMP INSIGHTS PREMIUM AUDITS
WELCOME
Welcome to the fall 2024 edition of Risk & Business Magazine . Spectrum Insurance Group is pleased to provide this magazine as a valuable resource for your company . The purpose of the magazine is to bring relevant content to help your business succeed . Inside this edition , you ’ ll find many great articles related to business insurance , employee benefits , safety / risk management , employment law , banking , financial management , and general business topics . We think you will find these articles informative and useful to the success of your business .
When Spectrum Insurance Group was started in 2007 , one of the core values we established was to provide value-added services to our customers . Risk & Business Magazine provides another outlet to help inform and educate not only our customers but all businesses located throughout the state of Wisconsin . What is good for all businesses in Wisconsin is good for Spectrum Insurance Group !
So far , 2024 continues to be a very difficult year for the insurance marketplace . Most of the large losses continue to be in the property line , and 2024 will continue to see higher than average rate increases in property and auto insurance as losses continue to outpace premiums . Casualty policies ( general liability , auto liability , and umbrella ) are seeing the adverse effects of social inflation caused by large jury awards , especially in the auto liability and umbrella lines . Restrictions in policy terms and conditions are also very common , with limitations on roofs being placed on ACV valuation as well as older buildings being placed on ACV instead of reconstruction cost . There are many factors that will dictate what happens to insurance premiums for the remainder of 2024 and 2025 , but signs point to a plateau in premiums sometime in 2025 . For more information on the current insurance market conditions , see our in-depth article in this edition of the magazine .
Now more than ever , you need an insurance professional who understands your business , helps you plan for unique risks , has access to many insurance companies , and advocates on your behalf . All of this can be achieved by working with an independent insurance agent who can tell your story to insurance carriers in a way that will best position your business come renewal time . No matter what happens in 2024 and beyond , businesses in Wisconsin have an innate ability to adapt to challenges that they are confronted with . This makes Wisconsin an excellent state to do business in ! +
Darrel Zaleski , Owner SPECTRUMINSGROUP . COM
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