Executive Liability Insurance for ESOP Companies and Their Executives

Jeff GelburdBusiness Insurance, ESOP, Insurance

The ESOP (Employee Stock Ownership Plan) Association’s endorsed Executive Liability Insurance Program allows its members to purchase insurance protection in the areas of (i) Directors and Officers Liability, (ii) Fiduciary Liability, (iii) Employment Practices Liability and (iv) Crime. Additional coverages are now available such as Cyber Liability Insurance on a group basis thereby providing members with more competitive policy premiums and coverage terms than if they were purchasing this protection by themselves in the traditional marketplace. The program is underwritten for Association members on an exclusive basis by Great American Insurance Company and is endorsed by the Association. Shared Vs. Separate Policy Limits Typically, the D&O, Fiduciary and EPL coverages can be purchased under one policy. The criteria of corporate …

What Happens if the ACA Employer Mandate is Repealed?

Mary LyonsHealth Benefits

The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum value health coverage to their full-time employees in order to avoid possible penalties. Because this employer mandate has been criticized as burdensome for employers and an impediment to business growth, its repeal has been a central part of Republican plans to repeal and replace the ACA. If the employer mandate is repealed, many ALEs will likely want to modify their plan designs to go back to pre-ACA eligibility rules (for example, requiring employees to have a 40-hour-per-week work schedule to be eligible for benefits). Employers may also consider increasing the amount that employees are required to contribute for group health plan coverage. Current Status of the …

Coverage for Data Breaches – What You Should Know

Jeff GelburdBusiness Insurance, Insurance, Risk Management

A data breach is a loss involving theft, accidental release or accidental publication of Personally Identifiable Information (PII) or Protected Health Information (PHI). It includes social security numbers, bank account, credit or debit numbers, driver’s license numbers, PIN numbers, medical diagnosis, patient history and medications and other private information defined by state or federal law. Data breaches can occur in various ways: Unauthorized access, such as by former employees, vendors or hackers. Stolen or lost paper files, or shipped documents failing to arrive at their proper destination. Mailing, faxing or emailing documents with one person’s PII to the wrong person. Computer system hacked by virus, Trojan horse or improper security. Stolen or lost laptop, computer disks, USB flash drives, portable hard …

Workers’ Compensation Affected by Recent Pennsylvania Supreme Court Decision

Jill RootBusiness Insurance, Insurance, Third Party Claim Administration

A recent Pennsylvania Supreme Court decision, Protz v. WCAB (Derry Area School District), stated the American Medical Association (AMA) guide for evaluating permanent impairment to an injured worker is unconstitutional. Since 1996 Impairment Rating Evaluations (IREs) were used in the management of Workers’ Compensation claims to cap the indemnity exposure on certain claims in which an injured worker was paid Total Temporary Disability (TTD) Benefits for 104 weeks. An IRE could be performed, and if the results were below 50% whole person impairment per the most recent edition of the AMA Impairment Guidelines, then the Injured Worker’s disability status would change from total to partial and the Injured Worker, at most, would only be entitled to 500 remaining weeks of …

Five Ways to Stop Negative Office Gossip

Sherri HebdaHuman Resources

This article is by Lisa Quast, consultant for marketing, strategic planning and HR/talent development and a former “Fortune 500” executive turned career coach and award-winning author. Shared by Sherri Hebda, MBA, SPHR, SHRM-SCP, HR Solutions Being a manager can be tough because it often includes stepping into situations that are outside your comfort zone, such as handling negative office gossip. Dealing directly and swiftly with the perpetrators, meeting with your staff and encouraging positive gossip (not the negative kind) can help turn things around. As a manager, it’s your job to ensure the department achieves all of its goals and objectives. This can be difficult to do if you’re stepping into a situation where workplace gossiping has been allowed to …

Do You Know Who Your Employees Are?

Mike ScheererHuman Resources

The recent DOL Administrator’s Interpretation on “Joint Employment”, shared by Mike Scheerer, Senior HR Consultant, HR Solutions. Not to be outdone by the National Labor Relations Board (“NLRB”) and its recent Browning-Ferris decision where it significantly expanded the definition of “joint employment” under the National Labor Relations Act, the United States Department of Labor (DOL) Wage and Hour Division released an Administrator’s Interpretation this week similarly putting employers on notice that it’s view of joint employment under the Fair Labor Standards Act (FLSA), as well as the Migrant and Seasonal Agricultural Worker Protection Act (MSPA), is going to significantly expand. The joint employment analysis will be applied for purposes of determining whether one or more entities are liable for compliance …

Posting Labor Law Posters in Other Languages

Mike ScheererHuman Resources, Uncategorized

Many employers wonder if they need to provide all (or even any) of their postings in languages other than English. The simple answer is: it depends on the State or issuing agency, and even on the specific posting. It’s important to distinguish between: Statutory requirements that a Spanish-language poster be posted; versus Mandatory posters issued in a multilingual format at the discretion of an issuing agency. To give an example of how vague posting requirements can be in regard to languages other than English, we need not look any further than the Family and Medical Leave Act of 1993 (subpart C, § 825.300): (c) Where an employer’s workforce is comprised of a significant portion of workers who are not literate …