In April 1982, I had the opportunity to become a partner in a property/casualty insurance agency. That was the good news. The not-so-good news was that the opportunity was with a start-up agency with no carrier contracts and no clients. However, we continued to...
Salary transparency can help to retain top talent
We live in an information age, in which colleagues share more of their personal selves in the workplace. Today’s employees want full transparency on all levels. Gone are the days when it was taboo to discuss money, wages, bonuses and pay with your colleagues. However,...
Workplace privacy: Strategies for employers
Employers are challenged to balance their need for information with employees’ privacy rights. This conflict may arise when an employer wants to perform a background check on a job applicant, or when the employer wishes to monitor employee communications, or when an...
Hiring, retaining employees in this economy
In researching the challenges those in the insurance industry face when hiring new employees, the response is like other industries: We can’t find them; They won’t work for us; We have no problem finding people, but don’t have a good track record of making quality...
The Great Resignation—why insurance agencies should take note
According to the U.S. Bureau of Labor Statistics, nearly 33 million U.S. employees have resigned from their jobs since April 2021. In November 2021 alone, 4.5 million workers resigned. For many reasons, individuals in the U.S. are reevaluating their employment—and...
Updated: CE changes in New York; PIA requests deadline extension
Last October, the New York State Department of Financial Services announced that it changed the continuing-education requirements for insurance producers who do business in New York. The new requirements include additional education that insurance agents and brokers...
Conn.: NCCI 2022 WC loss cost decrease of 14.1% approved
The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 14.1% decrease. The CID also approved an overall assigned risk rate decrease of 8.2%....
Office parties: Think beyond the venue and food
Holiday parties are a great way to boost morale and show appreciation to employees. Nevertheless, there are a few general considerations that employers should be aware of, notwithstanding the current pandemic environment, when considering how to throw their office...
N.J.: 2022 WC overall rate level decreases 5.3%
The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -5.3% to go into effect Jan. 1, 2022. The revision is applicable to new and renewal policies. The NJCRIB distributed Circular...
Know more than the basics about workers’ compensation
When independent agents take a closer look at workers’ compensation insurance, disability insurance and health insurance, they need to be able to identify which types of coverage come from each type of insurance. This is important because then, agents can prepare...