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What is a Wealth Security Policy?

Directors and officers of corporations know that their companies can spend thousands if not millions of dollars on Director and Officer liability insurance (D&O Insurance).

On February 27, 2015 Cal-OSHA approved the much anticipated revisions to its Heat Illness Requirements. Despite the objections from a variety of employer groups, including construction and agriculture, the Standards Board adopted the requirements on a vote of 5-1. Based on a summary issued by the Cal-OSHA Reporter (2/27/2015 Vol24No.8) key elements include:

Controlled Insurance Programs (CIPs) have been in existence for over 70 years and their use by both owners and, more recently, general contractors has continued to increase as a vehicle for risk transfer in the construction industry. The passage of anti-indemnity provisions in California effective January 1, 2013 (via SB 474) has also served to make CIPs more attractive to general contractors and government entities. However, despite this long history and relative commonality of coverages, each program is different and if not properly vetted, general contractors and subcontractors alike could be at risk.

The following is our annual Workers Compensation market summary and an update on CalOSHA developments.