30 July 2017 In Blog style

On Wednesday, July 19th, the New York State Workers Compensation Board posted Final Regulations in regards to New York Paid Family Leave (effective on January 1, 2018). Paid Family Leave coverage will typically be added to an employer’s existing disability insurance policy.

The 2018 community rate is 0.126% of the employee’s gross salary, capped at New York’s current average weekly wage of $1,305. Keep in mind, this coverage is 100% employee paid and only applies if you have a location in New York and they are on NY payroll. You could begin pre-funding via payroll deduction as early as July 1, 2017, but billing will not begin until 2018. Contact your payroll provider if you are unsure of your NYPFL deduction status.

26 July 2017 In Blog style

From eavesdropping dolls to faulty kitchen appliances, from combustible smartphones to defective airbags, the world is a dangerous place and product recalls are a fact of life. The public needs protection from unsound products and manufacturers need protection from product recalls.

It is a common misconception that product recalls are covered under a general or product liability policy. Those coverages do a good job of covering bodily injury and property damage, but they generally exclude product contamination and product recall events. This limitation on coverage is referred to as the sistership liability exclusion. Adding a product contamination or product recall policy protects a company’s bottom line by covering the direct costs of recall, but transferring the risk in this way is only one part of closing the recall exposure gap.

Every company with a product on the market, regardless of size, should establish solid product risk management policies and procedures for handling a recall or contamination event.

25 July 2017 In Barry Blog style

On Wednesday, July 19th, the New York State Workers Compensation Board posted Final Regulations in regards to New York Paid Family Leave (effective on January 1, 2018). Paid Family Leave coverage will typically be added to an employer’s existing disability insurance policy.

The 2018 community rate is 0.126% of the employee’s gross salary, capped at New York’s current average weekly wage of $1,305. Keep in mind, this coverage is 100% employee paid and only applies if you have a location in New York and they are on NY payroll. You could begin pre-funding via payroll deduction as early as July 1, 2017, but billing will not begin until 2018. Contact your payroll provider if you are unsure of your NYPFL deduction status.

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