Fifty-five percent of plan sponsors surveyed reported having at least one plan participant with claims that exceeded $500,000 in the last two policy years. Twenty-three percent reported a claimant in excess of $1 million, with 9 percent of those in excess of $1.5 million. (Source: 2014 Aegis Risk Medical Stop Loss Premium Survey). Stop loss...
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Republicans Introduce Their Own Health Care Reform Law
Republicans in the Senate and House have proposed several bills to repeal President Obama’s Patient Protection and Affordable Care Act (ACA). In January, several legislators introduced the Patient Choice, Affordability, Responsibility, and Empowerment Act (Patient CARE Act), which would create a new health insurance reform plan, in addition to repealing the ACA. The Act’s sponsors,...
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Identity Theft Insurance = Reputation Protection
A survey by one vendor found that 39 percent of employees want to buy identity theft insurance through their employer. Are you providing this valuable benefit? Identity theft occurs when someone uses an individual’s personal identifying information—name, address, credit card or Social Security number—without authorization to open new charge accounts, order merchandise or borrow money....
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How to Create a “Safety Culture”
Focusing your safety program solely upon reducing reported accidents and injuries or compliance with OSHA regulations means your safety and loss control program will never be completely successful. You’ll be applying all your controls to the tip of the iceberg, while major hazards may lurk unchecked. Why Create a Safety Culture? Most workplace accidents stem...
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Minimize Risks to Young Workers
Millions of teenagers will soon be leaving school and taking jobs either for the summer or as the start of their permanent integration into the workforce. Here’s what you need to know to protect them. Last summer, more than half of Americans from ages 16 to 24 years old held jobs, up 2.1 million from...
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The Prohibited Acts Doctrine
Under the workers’ compensation bargain, the employer agrees to compensate an employee for any work-related injury or illness…unless the employee was engaged in a “prohibited act” at the time of injury. A prohibited act is an act that the employer expressly prohibits—such as consuming alcohol or using other intoxicants while on the job or on...
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What You Think You Know About Alcohol Abuse Injuries vs the Truth
When researching the effects of alcohol on workplace injuries, you’ll likely stumble across a statistic attributing 38 to 50 percent of all workplace injuries to alcohol or drug abuse. If that sounds a little too high to you, you’re probably right. It probably is. The statistic supposedly comes from a report by the NCCI, the...
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Do You Have Flood Coverage For Your Business?
Unless you have a separate flood policy, the answer is generally “no.” You can buy a special flood policy to cover this risk. They generally have a 30-day waiting period, so plan ahead if you might need coverage this rainy season. Standard business property policies do NOT cover damage caused by “flood, surface water, waves,...
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Crisis Management: Where Risk Management and Public Relations Meet
You probably already have a disaster management plan to help your company minimize the effects of a disaster. You’ve probably considered evacuation of employees and customers, data backup, and contingency plans for manufacturing your products or delivering your services. But have you considered the role public relations can play in managing a crisis? Crisis Management...
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Auto Fleet Safety Programs Pay
If your company maintains an auto fleet (including passenger vans and pickups), no matter how small, you want to keep your insurance rates under control. One of the best ways to do that is to make your fleet as safe as possible. Auto fleet safety programs pay big dividends, if you implement them properly. There...
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