08 June 2017 By

As most condo owners are aware, their condo associations are responsible for insuring the condo’s buildings, including the individual units, up to the original builder’s grade. Almost all condo association policies have property deductibles. If your condo association has recently passed a deductible resolution, you may now be on the hook for some, if not all of this deductible unless your current HO6 policy provides adequate coverage. Therefore, it is important that you contact your personal lines carrier or agent to establish how this loss is handled on your individual HO6 policies in order to be fully protected.

Ask your carrier or agent the following question: How much coverage do I have towards my condo association’s deductible? If the amount of coverage is less than the deductible, find out how you can increase the coverage to the full amount of the deductible.

07 June 2017 By

A federal court recently ordered an employer, WellStar Health System Inc., to pay $750,000 to a former employee’s widow for breaching its fiduciary duty in administering its group life insurance plan.

The case Erwood v. Life Ins. Co. of N. Am., 2017 U.S. Dist. LEXIS 56348 (W.D. Pa. 2017) serves as a good reminder to employers that they must understand and properly administer conversion procedures under their group life insurance policies.  It is one of the most overlooked or misunderstood administrative requirements by HR and benefits professionals, and failure to provide the information can result in significant financial consequences.

06 June 2017 By

In my opinion, one of the most overused and misunderstood sayings of all time is this: Life isn’t about weathering the storm. It’s about learning to dance in the rain. Inevitably, I would hear someone misquote these words of wisdom each time I was experiencing some sort of bump in the road, some sort of hardship or difficulty. For some reason, people tend to find solace in the first idea without truly understanding the second.

“Weathering the storm” is an admirable ability to possess. It shows someone’s perseverance. It highlights their ability to buckle down and forge through the impasses that consistently test our resolve. Through these struggles, we can find our strengths and unfortunately; our weaknesses. Storms test our mental toughness as well as our physical toughness. Each struggle brings feelings of stress and anxiety that need to be dealt with properly in order to find the correct state of mind to handle the tasks at hand. Cortisol is released from the body creating a fight-or-flight reaction that, in some cases, helps us progress but in others cases, hampers us.

“Learning to dance in the rain” is an entirely different way to weather the storm. It suggests that trials and hardships are only a matter of perspective. The adage offers two different perspectives on the same occurrence. The first is that when it rains, there is a storm that will need to be weathered. The second perspective suggests that when it’s raining, you have the opportunity to dance. Joyously, gracefully, happily, you pick the method, but dance nonetheless. Imagine the ability to see each storm as the opportunity to dance. To truly and wholeheartedly feel the excitement of being able to test your own resolve, prove your worth and conquer whatever it is that just came barreling unexpectedly into your path.

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. 

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