The Vermont Department of Financial Regulation approved the revised workers’ compensation voluntary loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 6.7% decrease. In addition, a decrease of 6.9% of the overall assigned...
Comprehensive knowledge of what is taxable and nontaxable benefits is incredibly important for business owners, as well as heads of human resource departments. Employees are attracted to worthwhile benefits bundled in with their earned income and this only aids in a...
When you think of a positive company culture, it’s unlikely that business technologies are the first things that spring to mind. However, the reality is that the integration of business tech can go a long way in improving your organizational culture. Let’s look at how...
When we think of a skilled individual, we often drum up the image of a web developer, a mechanical engineer, a brain surgeon, or even an arborist. While the examples above depict hard skills, it’s the other side of the coin that cohesive work environments need to...
Well, that was weird. The COVID-19 pandemic certainly has changed the way we work. While employees are returning to the office after two years of remote working, not everything is returning to normal. Many employers are adopting hybrid-working schedules, which allow...
A bill passed late in the 2022 New York legislative session (S.768/A.1118) proposes a change to the definition of temporary total disability as used in workers’ compensation policies in New York state. This technical change would alter the consideration of temporary...
The last thing businesses want to do is to invest in poor-performing employees. This can be costly, and although a high turnover rate is expensive, so is keeping a poor-performing employee on staff. So, how do you implement some efficient hiring practices? Here are a...
The New York State Department of Financial Services issued a circular letter last week to provide guidance to the insurance industry on cannabis-related criminal convictions and insurance underwriting. Under New York state law, it is illegal for any person or entity...
The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -6.1% to become effective Jan. 1, 2023, applicable to new and renewal policies. The NJCRIB distributed Circular Letter No....
These days, most industries struggle to recruit and retain the next generation of employees. How do you get them interested in the insurance industry? How can we make the industry more attractive to the youth? Here are some strategies: Avoid generalizations There’s a...