Veracity Insurance Blog
Veracity's blog contains educational and informative articles about insurance.
The team at Veracity Insurance Solutions would like to congratulate one of its own, Sydney McCaul, daughter of Veracity Vice President Joe McCaul, and the entire Snow Canyon Little League softball team for an outstanding 2016 season. This year, the Snow Canyon 12U softball team made history twice. After an excellent performance during their general season, the team advanced to the regional competition in San Bernardino, California—something no Utah team had done before. There they defeated a team from Oahu, Hawaii, to take the regional title. The team went on to compete in the Little League World Series held in Portland Continue Reading
FDA Changes to the Nutrition Facts Label and Your Nutraceutical Company: Why Changing Rules & Regulations Make Product Liability Insurance Crucial
In May 2016, the FDA posted new rules for Nutrition Facts Labels. Nutritional supplements companies, protein and bodybuilding supplement companies, weight loss product companies, and other food product manufacturers are required to update all their Nutrition Facts Labels by July 26, 2018. Manufacturers with less than $10 million in annual food sales have until July 26, 2019 to comply. Having general and product liability insurance coverage is extremely important in light of changing rules and regulations. Even minor oversights could have big consequences. Veracity Insurance Solutions provides comprehensive insurance programs for the vitamin, nutraceutical, and supplements industry. Correct labeling of Continue Reading
The insurance industry as a whole is always changing. This is especially true for the workers' compensation insurance sector, since each state has it's own set of laws and regulations governing their program. While current trends for workers' compensation may vary from state to state, what affects employers in one area of the country could eventually ripple out towards employers in another area. So, with that in mind, here are 4 of the most interesting current news stories surround workers' compensation programs from the last few weeks: 3. Hawaii Increased Penalties for Workers' Compensation Violations On July 1st, the governor of Hawaii, David Ige, signed Act 187 into law. Under this law, penalties for or workers' compensation insurance violations increased from $10 per employee to $100. The act was primarily meant to protect employees in the construct Continue Reading
Owning a drone is not just for hobbyists anymore. According to Insurance Journal, corporate risk managers expect the use of drones by corporations to be common practice within 5 years. This trend may grow even faster for businesses in the construction, energy, real estate, agriculture, photography, or cinematography industries. The growing use of drones in professional fields leaves some business owners at risk of being held liable if their drone caused damage or injury to a third party’s property or person. Drone accidents happen frequently enough that attorneys, insurance brokers, and policymakers are all now seeing their industries change. Boston attorney Matthew Henshon said in Insurance Journal that mitigating the risks that come with drones is “a balancing a Continue Reading
With the days growing longer and the sun getting warmer, more and more people are wanting to find their way outside. The hotter months often see an uptick in outdoor sports and recreation activities as people want to soak up as much of the summer sun as they can. These kinds of activities present great opportunities for individuals looking to make a living doing a sport they love. Whether you want to become a rock climbing guide or take people out on the water as an expert river rafter or stand-up paddle board enthusiast, summertime is the perfect time to start a small-business that allows you to pursue your passion. However, there are risks inherent with almost any Continue Reading