Topic: insurance

5 Tips for Building Success into Your Business Succession Plan

“In order to design and implement a successful business succession plan one must cover a wide variety of specialties, not only including accounting and legal expertise, but also investment banking advice, valuation estimates, family business assistance (to deal with family tensions and conflicts), and, last but not least, insurance matters.” (Burr & Forman) Whether you’re… Read more »

Next Steps? What Employers Need to Know About Healthcare Reform [Video]

From law firm Warner Norcross & Judd, a look at what are currently the most pressing Healthcare Reform issues for employers and HR managers: Women’s preventive health care Summary of Benefits and Coverage (SBC) Reporting insurance coverage costs on W-2s Limits on Flexible Spending Account contributions Retiree prescription drug plans Medical loss ratio rebates Medicare… Read more »

Workplace Issues: Latest Need- to-Know Employment Law News

What’s new in the world of employment law? Quite a bit, actually: employee privacy, ADA and ADAAA issues, theft of trade secrets, vacation policies, ERISA-related matters, social media in the workplace, FMLA leave, right-to-work laws, NLRB and EEOC activity, E-verify laws, wage-hour issues, background check approvals, and much more. Here’s a roundup of recent labor and… Read more »

Doctor, Doctor, Gimme the News: Which Healthcare Reform Laws Go into Effect Soon?

“Many employers have failed to invest much time or energy into analyzing how healthcare reform would impact their businesses, first anticipating that the Court would invalidate much or all of ACA, and then hoping for a Mitt Romney victory in November. Now that the uncertainty has been lifted, it’s time to get to work and… Read more »

3 Cheers for Holiday Parties! 5 Rules for Limiting Employer Liability!

Throwing a company holiday party? You’ll want to establish some ground rules. Of course, we have our own such “guidelines” – gleaned from years of experience – for making sure things don’t get out of hand: clear out the mistletoe. Lock up the supply closets. Unplug the self-tweeting Xerox machine. Don’t let that tall guy… Read more »

Health Care Reform Is Here to Stay – Are You Ready?

“For employers and plan sponsors that have been adopting a ‘wait and see’ approach before focusing on compliance with the Patient Protection and Affordable Care Act (PPACA), the time to wait is over. PPACA’s insurance mandates, market reforms, and employer requirements generally will move ahead as scheduled, with most of PPACA becoming fully effective just… Read more »

3 Tips for Filing Hurricane Sandy Insurance Claims for Your Business

“Businesses with operations in the path of the storm may have suffered significant property damage and an interruption of business. Businesses nationwide—and even worldwide—also may have suffered contingent business interruption losses due to the inability to obtain supplies, among other things, from business in the Eastern United States that suffered direct physical property damage.” (Perkins… Read more »

Riding Out the (Franken)Storm: 5 Ways to Prepare Your Business for Disaster Recovery

Sandy has already been called “the storm of a lifetime,” and at time of writing it hasn’t even fully made landfall yet. As people up and down the East Coast prepare for the onslaught, this is perhaps a good time for all of us to consider the types of preparations that can ease recovery for… Read more »

Written Any Severance Checks Lately? You May Be Entitled to a Tax Refund

Employers in Kentucky, Michigan, Ohio, and Tennessee who have withheld FICA tax on severance payments made in connection with layoffs or plant closings might be getting some money back from the IRS. Law firm McDermott Will & Emery: “The U.S. Court of Appeals for the Sixth Circuit recently held that certain dismissal payments were Supplemental… Read more »

Small Businesses Also Need Data Breach Protection – and Insurance When It Fails

Corporate data breaches are becoming more common, but small businesses often don’t think it’s their problem. And that could come back to bite them. From law firm Jaburg Wilk: “There are numerous news reports of data and security breaches where customers’ personal information, including social security numbers, credit cards numbers and health information have been… Read more »

Medical Loss Ratio Rebate: 3 Things To Know Before Cashing Your Check

One important provision of the healthcare reform law is the “medical loss ratio” (MLR) rebate, which requires insurers to spend a minimum amount of premiums on medical claims, or refund the difference to policyholders. From law firm Schnader: “Under the Patient Protection and Affordable Care Act, health insurance issuers in the group or individual market… Read more »

5 Immediate Steps for Businesses Now That Obamacare Upheld

“Although the Act was deemed largely constitutional, issues concerning the implementation and administration of the Act’s various coverage mandates may be litigated in years to come. For example, dozens of Catholic dioceses and schools filed lawsuits in a number of states charging the Act’s contraception coverage requirement violates their rights under the First Amendment to… Read more »

Obamacare Ruled Constitutional: What It Means for You

[Update: for a good understanding of what the decision means sector by sector, start with this analysis by Skadden: Supreme Court Narrowly Upholds Health Reform Law but Limits Congress’ Authority Over States… includes a look at the implications for employers, insurers, hospitals and institutional providers, and drug and device manufacturers.] See below for growing reading… Read more »

Cybersecurity Concerns? You Might Consider Cyber Insurance

“According to a recent study by Lloyd’s of London, cyber-risk — both malicious attacks and nonmalicious ones — is approaching the top 10 of risks threatening businesses worldwide. In the U.S., malicious attacks were ranked in the top five. Last year, hackers succeeded in attacking government networks in the U.S., India and Brazil. Data breach… Read more »

5 Types of Business Insurance Coverage (You’ve Probably Never Considered)

If you’re a regular reader of this blog, you might’ve noticed that lately we’ve been meting out advice in parcels of five. (See for example: 5 Tips for Writing an Effective Employee Handbook, 5 Ways the NLRB Regulates Employer-Employee Relationships, 5 Considerations for Protecting Your Trademark, etc.) Really, there are only two possible paths forward.… Read more »