DSP Insurance Insights
Get insights on commercial insurance, property and casualty insurance, workplace safety, and employee benefits. Our blog articles deliver expert tips, industry updates, and risk management strategies to help businesses protect their people and profits.
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Recent Posts
Can AI Make Benefits Better?
Can AI Make Benefits Better?
When it comes to employee benefits, one thing hasn’t changed: people still don’t understand them.
Final Updates on Mental Health Parity: What you Need to Know
On September 9th, 2024 the Departments of Labor, Treasury, and Health and Human Services released the final rule changes regarding the Mental Health…
Navigating Bonding Strategies in Uncertain Markets
Soft landing… We’ve likely all heard these words with regard to the economy and the monetary policies employed to combat inflation while avoiding a…
Mastering Co-insurance to Mitigate Risks in a Hard Market
Most homeowners and companies know that property insurance rates are rising in this “hard” market over the past few years. Navigating co-insurance…
New OSHA 300 Recordkeeping Guide
OSHA recently released an updated recordkeeping guide that details requirements for tracking employee injury and illness in the workplace via forms…
DOL Proposes New Independent Contractor Classification Rule
On Oct. 11, 2022, the U.S. Department of Labor (DOL) announced a proposed rule to rescind and replace its 2021 independent contractor classification…
Mastering Today’s Commercial Insurance Market
A Complex Market
Navigating the Cell Phone Auto Insurance Impact
In today’s fast-paced world, cell phones have almost become an extension of ourselves, bringing a wealth of information and connectivity to our…
Tony Perez joins DSP
We are very pleased to announce that Tony Perez has joined DSP as a producer in our Employee Benefits Division. Tony has nine years of expertise in…
US P&C insurers see net underwriting loss of $5.6 billion
The hard market looks to continue as the insurance industry takes a $5.6 Billion underwriting loss. Click the link below to view the full article.
Common Misconceptions About General Liability Insurance
When it comes to general liability insurance, a lot of business owners think they’re covered for everything, but that’s not always the case. Let’s…
IRS Employee Retention Credits Audits and Risk to Your Claim
Employee Retention Credit (ERC) claims by employers are once again being processed by the IRS after a moratorium period for any credits filed after…
Directors and Officers Insurance Guide
The Rise of social media has continued to put business leaders in the spotlight, and now directors and officers (D&O) insurance isn’t only for large,…
2024 NCCI Changes and the Impact on Workers’ Comp Premiums
On November 1, 2023, the National Council on Compensation Insurance (NCCI) is making significant changes to the rating system for Experience…
Prioritizing Safety and Efficiency with Forklift Operator Training
In the bustling world of warehouses, construction sites, and manufacturing facilities, forklifts are indispensable tools. They enhance productivity…
Level Funding: Adding Predictability to Your Self-Funded Health Plan
Introducing Level Funding:
PCORI Fees for Self-Insured Plans
Under the Patient Protection and Affordable Care Act (PPACA) a new fee was introduced. The Patient-Centered Outcomes Research Institute (PCORI) fees…
The PFAS Challenge: Risk Management in the Age of Strict Regulation
Per- and polyfluoroalkyl substances (PFAS) have emerged as a significant concern due to their widespread use in consumer goods, leading to exposure…
Soaring to Success – Sarah Gerhardt
Exciting update from DSP Insurance! We’re thrilled to share that Sarah Gerhardt has been promoted to Senior Account Manager.
National Cybersecurity Awareness Month 2022
October is National Cybersecurity Awareness Month. During this annual event, government and industry leaders come together to raise awareness about…
AI in Insurance
Artificial intelligence, or AI, is transforming the insurance industry, leading the way in revolutionizing tasks that were traditionally performed by…
Why Directors and Officers Need Personal D&O Insurance
Most organizations recognize the vital role directors and officers play in steering their companies toward success. With this responsibility comes…
Utilizing the SBA Surety Bond Program
With bonded work on the horizon for a new or growing company, owners may be wondering how they can get started and what programs are available for…
New President – Taylor Virgil
DSP Insurance Services, an independent insurance agency headquartered in Schaumburg, IL, is pleased to announce the appointment of Taylor Virgil as…
Essential Strategies for Active Shooter Preparedness
In today’s unpredictable world, ensuring the safety of your employees and colleagues has become a top priority for businesses and organizations of…
Cyber Awareness Month: Insights for Insurance Buyers
Welcome to Cyber Awareness Month! The theme for 2023 is “It’s easy to stay safe Online.” At DSP Insurance Services, we understand the challenges that…
Recognizing Critical Heart Attack and Stroke Signs
Recognizing the signs and symptoms of a heart attack or stroke is crucial for timely intervention and potentially life-saving action.
Partnering with a CPA Firm and Bank for Construction Success
In the world of construction, navigating the financial landscape requires more than just basic accounting and banking services. Construction firms…
Financial Resilience: Maintaining Bonding Capacity in a Tightening Construction Market
In a tightening construction market, the importance of financial planning and strategic equity retention cannot be overstated. Bonding capacity…
National Distracted Driving Enforcement Campaign Is April 3-10, 2023
The National Highway Traffic Safety Administration(NHTSA) is running a National Distracted Driving Enforcement Mobilization Campaign April 3-10,…
John Adams and Jerry Olson join DSP Ownership
DSP is pleased to announce that John Adams and Jerry Olson have been made partners. John and Jerry each bring over 35 years of commercial risk…
Maximizing Your 2025 HSA and HDHP Benefits
What’s it about?
Understanding the Surge in Home Insurance Premiums
Home Insurance: The Wrath of Natural Disasters
Maximizing Business Growth with PEOs
Running a business, whether it’s a small startup or a mid-sized company, comes with its own set of challenges. From managing day-to-day operations to…
Third-party Litigation Funding Explained
Third-party litigation funding (TPLF), also known as legal funding, third-party litigation finance, or alternative litigation financing, involves a…
Welcome Blake Erickson
Exciting times at DSP Insurance as we welcome Blake Erickson to our Employee Benefits team! With over 11 years in the industry and a knack for…
Revolutionizing Healthcare with High-Performing Networks
In the ever-evolving landscape of healthcare, organizations are continually seeking innovative strategies to enhance quality, reduce costs, and…
DSP Volunteers with Feed My Starving Children
DSP recently teamed up with Feed My Starving Children to pack meals for impoverished children in Haiti. This volunteer session packed 58,104 meals,…
Brewers: Check Your Bright Tanks!
Is there anything better than serving (or drinking) a draft beer straight from a bright tank? This is as fresh as the beer can get and it’s no wonder…
What to expect when obtaining your first surety bond
Rarely is a first bond request planned for… More often the requirement arises when a business is going through something new. New customer, new…
Navigating the Dangers of Distracted Driving
Distracted driving is more than just a buzzword—it’s a pervasive issue that significantly impacts road safety. At DSP Insurance, we’re committed not…
The Importance of an Umbrella Policy
An umbrella policy is essential because it kicks in when your basic liability limits are exhausted. In the event of a major accident or a liability…
Coronavirus – Employer Liability Issues
Coronavirus is continuing to spread with cases reported in 22 countries around the world. The article below contains a brief overview of the virus…
DSP Insurance Wins “Top Employee Benefits Consultant Awards” for 2023
We’re excited to announce that DSP Insurance has received the “Top Employee Benefits Consultant Awards” for 2023 by Mployer Advisor. This recognition…
Calculating OSHA Injury and Illness Incidence Rates
Each year, the Occupational Safety and Health Administration (OSHA) collects work-related injury and illness data from employers. This data…
HSA, FSA, and HRA Explained
When it comes to managing healthcare expenses and securing your financial future, it’s essential to explore your options beyond traditional insurance…
Legal Challenges Driving Trucking Insurance Costs
In 2023, the U.S. trucking industry faced a series of overwhelming challenges, leading to the closure of nearly 88,000 trucking firms—around 10% of…
Understanding Contractual Risk Transfer
Contractual risk transfer (CRT) is a risk management strategy commonly employed by businesses to shift potential liability to another party through…
Soaring to Success – Jennifer Kostos
We are pleased to announce the promotion of Jennifer Kostos as our Market Relationship Manager in addition to her role as an Account Executive. In…
Fluctuating Interest Rates – Insurance Impact
In late October 2019, the Federal Reserve announced they would lower the Federal Funds Interest Rate by a quarter of a percent. This was the third…
2024 Employment Law Compliance Trends Recap & Considerations
As we near the end of 2024, it’s crucial for employers to reflect on the key 2024 employment law trends that shaped the year. Significant updates at…
October is National Fire Prevention Month
Fire Safety:
Recognizing and Addressing Workplace Substance Abuse
Workplace substance abuse is a growing concern across many industries. Supervisors, in particular, are on the front lines when it comes to…
ASA Chicago Welcomes Bryan Adams to its Board of Directors
DSP is pleased to announce that our very own Bryan Adams has been appointed to the Board of Directors of the Chicago ASA. We are proud to be part of…
The Importance of Two-factor Authentication
As cyber attacks become more and more common, protecting your data is increasingly difficult. In fact, a study from Juniper Research found that by…
Essential Winter Car Safety Tips: Be Prepared for the Unexpected
The chill of winter is setting in, and with it comes the risk of icy roads and unexpected roadside emergencies. Imagine you’re driving on a snowy…
The Essential Guide to Pollution Risk Management for Modern Businesses
When you think of pollution, images of oil spills and toxic waste dumps may come to mind. However, pollution risks extend far beyond these…
Covid 19 – What you need to know
There is a lot of information going around about the COVID-19 vaccine. This article contains everything employees need to know right now.
Trust and Verify
Business owners (CEO), finance/risk managers (CFO), and operations teams should follow the tenets Trust and Verify for cybersecurity. Trust and…
DSP Insurance Services Welcomes Six New Equity Partners
DSP Insurance Services is pleased to announce the addition of six new equity partners. This group brings a wealth of expertise and leadership talents…
Proposed Changes in Mental Health Parity NQTL Requirements
The Departments of Labor (DOL), Health and Human Services (HHS), and Treasury aim to codify compliance and ensure equitable access to mental health…
DSP recognized in the Insurance Journal’s “Best Agencies to Work For”
DSP is pleased to have recently been recognized in the Insurance Journal’s “Best Agencies to Work For”. We wish to thank our employees, clients,…
Understanding the 2024 Health FSA Limit
2024 Health FSA Contribution Limit
Financial Wellness – A Strategy for Today and Tomorrow
Employees are increasingly regarding financial wellness benefits as indispensable, as indicated by discoveries in Vestwell’s annual Savings Industry…
Hiring an Agent VS Going Direct
When it comes to purchasing insurance, you have two primary options: working with an insurance agent or buying directly from an insurance company.…
OSHA Reporting Requirements for Workplace Injury Compliance
When it comes to workplace safety, employers must navigate a complex web of regulations and reporting requirements. Even if you’re in a low-hazard…
Maintaining Full Access to Credit Capacity
Maintaining availability on a line of credit facility is crucial for contractors, and Enhancing Credit Availability with Strategic Surety Solutions…
Public Labor Agreements and the Bond Market
The Biden administration issued an executive order mandating the use of Public Labor Agreements (PLAs) on federally funded construction projects…
Happy Work Anniversary!
We’re proud to celebrate the significant work anniversaries and milestones our dedicated employees have reached this quarter. Your commitment and…
DOL Announces Plan to Issue Proposed Independent Contractor Rule
In a recent blog post, the U.S. Department of Labor announced it will issue a proposed rule on determining employee or independent contractor status…
Welcome Steve Neeser & Indiana Expansion
We are excited to announce that Steve Neeser has recently joined DSP as a producer in our Employee Benefits Division. Steve is a seasoned Employee…
Acuity recognizes DSP
DSP was recently recognized as Acuity Insurance’s number one agent in the state of Illinois. We are honored to have an outstanding relationship with…
Strategic Subcontractor Prequalification
The goal of any prequalification program, especially when it comes to Subcontractor Selection Risk Management, is the evaluation of potential…
Welcome Damien Strohmier
We are thrilled to introduce Damien Strohmier as the newest member of the DSP surety production team. Damien holds a degree in Accounting and Finance…
Happy Work Anniversaries!
We’re excited to celebrate the work anniversaries and milestones reached by our employees this quarter. Your dedication and expertise are vital to…
Securing Your Global Workforce: Foreign Voluntary Workers Compensation and Accident and Health Explained
Work travel, global workforces, and international projects often raise questions about the best ways to protect your teams and assets. To ensure…
Experts Fear Global Impact From Russia’s Cyberattacks on Ukraine
Russia launched a full-scale military assault on Ukraine in the early morning hours of Feb. 24, 2022, accompanied by a series of targeted…
National Cybersecurity Awareness Month
October is National Cybersecurity Awareness Month. It’s crucial for businesses like yours to stay cyber-secure in order to safeguard company data,…
Dangers of Texting and Driving
October has been designated Distracted Driving Awareness Month by the National Safety Council. Distracted driving kills thousands of people each year…
Navigating Insurance Challenges in 2024
In an ever-changing world, understanding the key insurance challenges in 2024 is crucial for businesses and individuals alike. These challenges…
Eric Vatch Joins the DSP Family
We are very pleased to announce that Eric Vatch has joined DSP as a producer in our Employee Benefits Division. After working at Cigna Health…
Understanding MHPAEA Compliance for Health Plans
Understanding MHPAEA Compliance for Health Plans The Evolution of Mental Health Parity Laws The journey towards mental health parity in the United…
Navigating the 2024 Open Enrollment Season with Early Preparation
As the 2024 open enrollment season approaches rapidly, having a carefully devised strategy becomes pivotal. Not only will it aid in retaining your…
Understanding General Agreements of Indemnity in Surety Bonds
Surety bonds generally require a General Agreement of Indemnity (GAI), a critical component in the bonding process. This article will delve into what…
Proposed Overtime Rule Now Expected in May 2023
Recently, the U.S. Department of Labor (DOL) communicated it will issue a proposed overtime rule in May 2023, according to its most recent regulatory…
DSP is Growing!
The DSP team is growing! We’re hiring a CSR in our commercial insurance division. Click the link below to learn more.
Court Reinstates OSHA Vaccination Mandate for Private Employers
On Friday Dec. 17, 2021 the 6th Circuit Federal Court of Appeals reinstated the Occupational Safety and Health Administration’s (OSHA) federal…
Navigating Builder’s Risk Insurance for a Secure Building Future
In recent years, the housing market has been chaotic, underscored by rising interest rates, record-low housing stock, and elevated home price tags.…
Managing Nuclear Verdict Trends in Insurance
The Startling Rise of Multimillion-Dollar Verdicts
Happy Work Anniversary!
We’re thrilled to celebrate the work anniversaries and milestones our employees have achieved this quarter. Your dedication and expertise are…