24 May 2017 By

Starting January 1, 2018, New York will have one of the most comprehensive paid family leave (PFL) programs in the country.  This new program will not cover time away from work for the employee’s own health condition, but for the health condition of a family member.  Also, this is not to be confused with the New York DBL (short term disability) which pays disabled employees 50% of base pay to a maximum of $170.00/week. 

22 May 2017 By

What is captive insurance and why might you need it? Captive insurance is insurance that is provided by a captive insurance company (captive, for short). Captives are wholly owned and controlled by their own insured members rather than by outside carriers. They choose to put their own capital at risk, believing that they can generate profits by instituting measures to help better control expenses. Unlike traditional insurance policies, where policyholders are beholden to an insurance company’s rates, captives’ insurance policies allow policyholders to manage their premiums—and ideally lower them—by proactively managing their losses.

Say you are insured for workers’ compensation through a traditional policy and worked extra hard to keep your losses low last year by enhancing workplace safety and instituting more rigorous employee training programs. Not only will the benefit of those losses be unrealized by your company in the form of reduced premiums, but you could actually face a premium increase if others in your risk pool have had increased losses or if overall administrative costs have risen. Why should all that hard work in controlling your losses not be rewarded?

16 May 2017 By

It was Dmitri Alperovitch, cofounder of the cybersecurity firm CrowdStrike, who famously said, “There are only two types of organizations: those that know that they’ve been hacked and those that don’t yet know.” According to multiple online news sources, cybersecurity is seen as one of the biggest current threats to businesses worldwide. Juniper Research has projected the cost of cybercrime at $2 trillion globally by 2019. That’s only two years away!

We have already seen how major data security breaches can spell disaster for high-profile companies like Target, The Home Depot and JPMorgan Chase. Target alone reported that the breach of its customer data cost the company upwards of $250 million. Data breaches can be caused by a multitude of commonplace incidents that you may not even give a whole lot of thought to like a leaked password, a disgruntled employee, a lost mobile device or a lack of encryption.

09 May 2017 By

amendedAhac

On May 4, 2017, members of the U.S. House of Representatives voted 217-213 to pass the American Health Care Act (AHCA), after it had been amended several times. The AHCA is the proposed legislation to repeal and replace the Affordable Care Act (ACA).

The AHCA needed 216 votes to pass in the House. Ultimately, it passed on a party-line vote, with 217 Republicans and no Democrats voting in favor of the legislation. The AHCA will now move on to be considered by the Senate. It is likely that the Senate will make changes to the proposed legislation before taking a vote. The AHCA would only need a simple majority vote in the Senate to pass. However, unless and until the AHCA is passed by the Senate and signed by President Trump, the ACA will remain intact.

While it’s likely the AHCA will be modified in the Senate, these are the current main impacts to the ACA:

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