Today, we lost a remarkable individual and a guiding light in the world of finance and business with the passing of Charlie Munger.
Charlie Munger’s profound wisdom and visionary leadership have inspired the BHHC community and countless individuals and organizations across the globe. His contributions to the financial sector and his role as Vice Chairman of Berkshire Hathaway Inc. have left an indelible mark that will continue to guide and inspire future generations.
We extend our heartfelt condolences to the family, friends, and all those touched by the extraordinary life of Charlie Munger.
Cal/OSHA Will be Conducting Targeted Inspections During the California Heat Wave
As temperatures rise during the summer months, employers must be proactive in safeguarding their workers against heat-related illnesses. A serious concern such as this can affect anyone working in outdoor or hot indoor environments.
Certain occupations and industries are particularly prone to heat illness hazards. Outdoor workers, such as construction workers, agricultural workers, and utility workers, are at high risk due to prolonged exposure to direct sunlight and physically demanding tasks. Indoor workers in settings without proper ventilation or air conditioning can also be susceptible to heat-related illnesses.
On Wednesday, July 12, California’s Department of Industrial Relations published a news release cautioning employers about the California heatwave that the state is likely to feel through Tuesday, July 18.
“Our team is out in full force, conducting targeted high heat inspections with a focus on construction, agriculture, landscaping, and warehouse industries to ensure employers are complying with the law,” said Cal/OSHA Chief Jeff Killip.
Heat illness prevention requirements and training can be found on Cal/OSHA’s Heat Illness Prevention page. By recognizing the hazards, implementing preventive measures, providing water, and fostering a culture of safety where rest and shade are encouraged, employers can create a work environment that prioritizes the well-being of their workforce.
We encourage all employers to read the full News Release from the Department of Industrial Relations to better equip themselves for the Cal/OSHA Targeted Inspections During Heat Wave ahead.
Hear from BHHC P&C execs in the latest issue of Rough Notes.
“The commercial auto market is still experiencing serious difficulties. Inflation is affecting claim severities and loss development, leading to increased uncertainty regarding necessary rate levels,” says Morris.
“The first thing I would recommend to an agent or broker is to let their customers know that their federal motor carrier safety data is very important for insurance purposes. This information has proven to be very predictive of loss experience.”
The Berkshire Hathaway Homestate Companies (BHHC) are a group of six insurance carriers that are part of the Berkshire Hathaway insurance group. Headquartered in Omaha, Nebraska, and with over 50 years in business, BHHC has evolved from a regional carrier to a national insurance group writing a diverse book of policies from coast to coast. The Berkshire Hathaway Homestate Companies include Berkshire Hathaway Homestate Insurance Company, BHHC Special Risks Insurance Company, Continental Divide Insurance Company, Cypress Insurance Company, Oak River Insurance Company, and Redwood Fire and Casualty Insurance Company. Berkshire Hathaway Homestate Companies (BHHC) have earned an enviable record of success in the insurance industry. Supported by A.M. Best’s highest financial strength rating of A++ (Superior) (as of February 1, 2023), our corporate size enables our organization to react swiftly and effectively to opportunities in the insurance marketplace. Our financial strength provides our employees, agency partners, and policyholders the security rarely available in today’s marketplace. Browse bhhc.com to learn more.
We are excited to share that Rick Fineman, has joined the BHHC Workers Compensation Division as our new Vice President of Loss Control. Rick boasts more than 30 years of experience in insurance and occupational safety and health. Fineman brings his expertise to further enhance BHHC’s industry-leading loss control program, which is supported by a team of certified safety professionals with a diverse range of industry backgrounds. With the addition of Rick’s leadership in the insurance industry, BHHC will continue to strengthen its service offerings by providing consultative workplace safety education that emphasizes preventing accidents and injuries, thereby helping customers manage their workers compensation costs.
“Rick is a seasoned occupational safety and risk management professional with substantial experience working across a broad range of industries. He brings a depth of leadership and knowledge to our company that strategically positions us to deliver market-leading safety solutions and drive operational efficiencies – which are key to our continued operating strengths,” said Rob Darby, President and CEO of BHHC. “He has a breadth of experience and talent with risk management programs that supports BHHC’s goal of maintaining its competitive enterprising loss control market advantage.”
Alongside Danny Engell, Senior Vice President and Chief Underwriting and Data Analytics Officer, Rick’s expertise will further enhance BHHC’s industry-leading loss control program, which is supported by a team of certified safety professionals with a diverse range of industry backgrounds. The addition of his leadership to the Senior Management Team reinforces BHHC’s position as an industry leader in workers compensation insurance products and services.
“We are thrilled to welcome Rick to our organization,” said Danny Engell, Senior Vice President and Chief Underwriting and Data Analytics Officer. “His extensive risk management strategy and operations experience with industry-specific risk identification, evaluation and analysis to help clients reduce risk exposures, injury frequency, and severity is a great asset as we continue to grow and diversify to meet the needs of our policyholders.”
We warmly welcome Rick Fineman to our team and look forward to the risk management strategies he will bring to BHHC.
We are excited to share that David Speights, PhD, has joined the BHHC Workers Compensation Division as our new Vice President of Analytics. Dr. Speights brings more than 25 years of analytics and leadership experience to our organization leveraging his expertise in machine learning, data engineering, and predictive solutions. Before joining BHHC, and for nearly two decades, Dr. Speights was the Chief Data Scientist of Appriss Corporate, which includes Appriss Retail, Appriss Insights, Appriss Health, and The Retail Equation along with a successful consulting business, Equity Decision Systems, LLC. Over the last two decades, his consulting engagements have included data analytics, solutions, and modeling engagements with companies like ASPCA, Hallmark, See’s Candies, Asurion Corporation, and more. He also held positions as the First Vice President of Credit Modeling at Washington Mutual Bank and Chief Statistician at HNC Insurance Solutions.
“Dr. Speights is an immensely talented leader and data scientist with substantial experience working with more than 100 of the world’s largest companies and government organizations to advance their analytical solutions and data-driven operations. He brings a depth of knowledge and education to our company that strategically positions us to deliver innovative customer solutions and drive operational efficiencies – which are key to our continued operating strengths,” said Rob Darby, President and CEO of BHHC. “He has a breadth of experience and talent with data science and modeling that supports BHHC’s goal of maintaining its competitive analytic market advantage.”
Alongside Danny Engell, Senior Vice President and Chief Underwriting and Data Analytics Officer, Dr. Speights will lead the company’s analytics strategy and operational teams to advance the organization’s growth in this key business discipline. The addition of Dr. Speights to the organization will drive advanced predictive solutions that will continue to differentiate BHHC’s market presence as an industry leader in workers compensation insurance products and services.
“We are excited to welcome Dr. Speights to our organization,” said Danny Engell, Senior Vice President and Chief Underwriting and Data Analytics Officer. “His extensive experience with data analytics strategy and operations, along with his passion for big data and modeling, is a great asset as we continue to grow and diversify to meet the needs of our policyholders.”
We warmly welcome Dr. David Speights to our team and look forward to the innovative data strategies he will bring to BHHC.