The New Hampshire Insurance Department approved the original workers’ compensation voluntary loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 7% decrease. In addition, a decrease of 7% of the overall assigned risk rates...
In May, an application for an overall loss cost decrease of 8.7% was submitted to the New York Department of Financial Services by the New York Compensation Insurance Rating Board. The DFS approved the application as filed with an effective date of Saturday, Oct. 1,...
“What do you do?” We have heard that question a thousand times. It is one of those standard conversation pieces along with: “What do you think of this weather?” and “How about that local sports team!” Every time you meet someone new, it is a virtual guarantee that you...
The importance of good organizational structure cannot be overstated when it comes to businesses that run smoothly and profitably. There are several approaches to organizational structure for your business. When evaluating your options—from team-based to hierarchical...
In a traditional 401(k) plan, many plan administration tasks fall on the plan sponsor. These can include designing the plan, depositing contributions, keeping documents updated, complying with testing requirements, and providing required notices and information to...
In the past few years, so many people have been laid off from work—due to circumstances beyond their control. This pool of job applicants should consider a career in the insurance industry as their next golden work opportunity. So, if you’ve never considered a job in...
In the process of hiring new employees, businesses go to great lengths to hire individuals who will make a great fit in their company. Sometimes it works brilliantly—while at other times, things may not work out at all. While some employees may realize the business is...
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,...
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...
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...