16 October 2017 By

The Hidden Policy Premium

Every business knows that accident prevention keeps your workers’ compensation costs at a minimum. But when an accident occurs and a claim is made, what is the best method to maximize cost savings? With medical bills comprising approximately 60 percent of workers’ compensation claims costs, many third party claims administrators (TPAs) use managed care programs to control these costs.

16 October 2017 By

Regulations For Electronic Distribution of ERISA Disclosures

With the recent increase in audits by the Department of Labor (DOL), one of the most frequently asked questions JGS Insurance receives is under what circumstances can documents be distributed electronically by email, by company intranet and the like.

DOL regulations contain a safe harbor under which employee plans may use electronic means to distribute certain documents and other information required under the Employee Retirement Income Security Act of 1974 (ERISA).

16 October 2017 By

Hosting events such as concerts, festivals, conferences, trade shows, sporting events, and celebrations subjects a business to a variety of liabilities and business risks that must be considered to avoid costly litigation or other losses when something goes amiss. Appropriate coverages for events include property insurance, special event general liability insurance, employer’s liability insurance and cancellation insurance.


A property insurance policy protects equipment at events—ranging from sophisticated audio-visual systems to folding chairs—whether it is owned, borrowed or hired for the event. The policy generally covers property while in transit to and from the event as well as during the event. Damaged, destroyed or lost property is reinstated on a “new-for-old” basis, meaning that it is generally not appropriate for things like antiques, collectibles or other irreplaceable property.

16 October 2017 By

Why are certificates of insurance so universally hated by insurance brokers and risk managers alike? Some insurance professionals would just as soon have their teeth drilled without novocaine than deal with these much-maligned documents. Yet if used properly, they provide value as an important tool in the risk manager’s portfolio.

For the uninitiated, according to Investopedia, a certificate of insurance (COI) is defined as

“a document issued by an insurance company/broker that is used to verify the existence of insurance coverage under specific conditions granted to listed individuals. More specifically, the document lists the effective date of the policy, the type of insurance coverage purchased and the types and dollar amount of applicable liability.”

The problems arise when people assume that certificates of insurance do more than they actually do. They are not an ironclad guarantee of coverage, but they do provide a baseline from which the risk manager, attorney or business owner needs to do his or her own due diligence. For example, a product liability COI can demonstrate coverage for a supplier that is ordering a particular raw ingredient to be used in the manufacturing process. It shows the manufacturer that the supplier had coverage at the time of its issuance.

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