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...
There’s no stopping the reality that the last of the millennial generation and the first of Generation Z are moving—rapidly—into the workforce. Many individuals from these generations have copious education, open minds and extreme work ethic. However, they differ from...
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...
The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 3% decrease. Also approved is an overall assigned risk rate change of 0%. These loss...
Currently, the U.S. Department of Labor is accepting comments on a proposed regulation to determine whether an independent contractor is an independent contractor for purposes of the Fair Labor Standards Act. It’s the latest step in the DOL’s efforts to roll back the...