16 October 2017 By

Community associations typically take great care to protect their package policies by taking measures to prevent fire losses and slip-and-fall claims and by proactively addressing conditions on their properties which may cause such losses. Boards understand an association’s package policy premium (as well as an association’s insurability) can really suffer as a result of claim activity, frequency and severity. Plus they want to keep their associations safe and running smoothly. But often too little thought is given to protecting the Directors and Officers (D&O) policy, which arguably is the most valuable coverage purchased by the board as it is designed to protect not only the association but the board itself.

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.

PROPERTY 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.

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