• 28
  • Sep2018

The Alternate Employer Endorsement

The Alternate Employer Endorsement
In today’s gig economy, there are numerous forms of employment which can bring challenges to your workers compensation insurance, and worker injury risk.  The Alternate Employer Endorsement is an important risk transfer tool which should be deployed when non-traditional employment arrangements are engaged in.  Here’s why. If you are an employer who employs workers from a

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  • 25
  • Sep2018

The Diagnostic Insurance Review

The Diagnostic Insurance Review
Last month we had referrals into two “good sized” companies to discuss their insurance programs, and the similarities shared between those accounts makes for a good discussion on the importance of a Diagnostic Insurance Review or second opinion.  ("Good sized" means both had 25 or more employees and over $10M in annual sales.) The Diagnostic Insurance

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  • 21
  • Sep2018

What is a Wrongful Act in a D&O Policy?

What is a Wrongful Act in a D&O Policy?
Directors and Officers liability (D&O) insurance is a complex coverage form.  There is no “standardized” policy form in the marketplace - every insurer’s form is different from the next, and two policies from the same insurer can differ greatly with the addition of a variety of endorsements.  That’s why when you purchase D&O coverage you need

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  • 20
  • Sep2018

What is Tail Coverage in a Claims-Made Policy?

What is Tail Coverage in a Claims-Made Policy?
There are two predominate classes of policies are written on Claims-Made policy forms which often require a discussion of Tail Coverage: Management Liability (D&O, Employment Practice Liability, Fiduciary, Cyber) and; Professional Liability forms (E&O, Malpractices, Lawyers Professional, Accountants Professionals, etc.) Here's the basics of Claims-Made & Tail Coverage: For a claim to be covered in a claims-made

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  • 19
  • Sep2018

Let’s Talk Sales Podcast

Let’s Talk Sales Podcast
I forgot to post this on my own blog, but back in June I had the pleasure of sharing some time with Rebecca Twomey at Criteria for Success' podcast called "Let's Talk Sales". It was the first podcast I had ever participated in and thought it was a lot of fun - if you'd like to

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  • 19
  • Sep2018

What Happens to a D&O Policy in M&A?

What Happens to a D&O Policy in M&A?
Handling your D&O policy in an M&A Transaction Merger and acquisition activity continues to hit record levels in almost all industries today.  One important issue that needs to be addressed is what do you do with your D&O in an M&A transaction? Yes, all your other policies need to be addressed as well, but during a

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  • 17
  • Sep2018

Employee or Independent Contractor? Avoiding Workers Compensation Problems

Employee or Independent Contractor? Avoiding Workers Compensation Problems
We have written about the topic of properly classifying employees in the past, but there is continued crack down by regulatory authorities and insurers about classifying workers properly with regard to NY workers compensation.  Are workers employees or independent contractors? Under the New York Workers Compensation Board Rules most workers are classified as employees for rating

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  • 17
  • Sep2018

New York Stop Sexual Harassment Act

New York Stop Sexual Harassment Act
Several changes are on the immediate horizon for New York Employers when it comes to sexual harassment training and documentation.  This document New York Fair Employment Laws  will give you a broad overview of the employment issues in New York State and New York City coming up in October. The most notable requirement is that this impacts

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  • 17
  • Sep2018

What is a Loss Sensitive Rating Plan?

What is a Loss Sensitive Rating Plan?
A loss sensitive rating plan...... such as a high-deductible plan is an alternate method of financing an employer’s workers compensation risk from guaranteed cost programs.  Under a guaranteed cost policy, an employer pays a “fixed” premium each year based on the company’s rating classifications and payrolls, the one element which can vary during the course of

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  • 10
  • Sep2018

The Seven Deadly Sins of Workers Compensation

The Seven Deadly Sins of Workers Compensation
Workers compensation is often the biggest insurance pain point for manufacturers and other mid-market employers in New York.  Rates are high, a company with “average” claims experience will usually have an elevated experience rating modifier, and there seems to be a perverse element in the workers compensation system that keeps employees out on workers comp longer

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