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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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Tags: Change in Control, D&O, Transactions

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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Tags: employee, independent contractor, workers comp

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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Tags: employment practice liability, sexual harassment

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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Tags: high-deductible workers comp, Loss sensitive rating plans, workers comp

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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Tags: risk management, safety, workers comp, workers compensation

How I discovered and codified The Strategic Risk Process. In 2017 I was in the second year of my membership in The Strategic Coach program (an entrepreneurial coaching program) and I was challenged to discover and qualify what my “Unique Ability” was. As Strategic Coach describes it, Unique Ability is a superior skill or talent that

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Tags: risk, risk management, strategic risk management

As its name denotes, a high deductible workers comp policy or program is a method of insuring workers compensation risk with the employer assuming some of that risk in a deductible of $100,000, $250,000 or even higher per claim, and an insurer taking the remaining risk on. These types of policies are reserved for larger employers

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Tags: high-deductible workers comp, worker compensation insurance, workers comp

In the past we have written about the need for every business, regardless of size, to have a risk transfer plan in place and to be strategic about indemnity agreements.  To understand this a bit further, let’s first define in basic terms what each of these elements of the conversation are. Let’s start with risk transfer. 

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Tags: contractual risk transfer, indemnity agreements

As an insurance broker, I have often experienced small and medium sized business owners very reluctant to purchase cyber insurance; even though the cyber related risk seems very apparent.  So, I found a recent study published by Chubb Insurance on why decision makers may think cyber protection is unnecessary, interesting. The majority of respondents in this

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Tags: cyber insurance, cyber liability

What is the Warranty Statement on a D&O or Employment Practice Liability Policy? I’ve been asked on several occasions when a client is applying for Employment Practice Liability Insurance (EPLI) or Directors & Officers Insurance (D&O) if a potential claim or “situation” in the past would be covered by their new policy?  This article will explore

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Tags: application, D&O insurance, EPLI, management liability