"business coverage gaps" Archives

  1. DOL Increases Civil Penalty Amounts for 2020

    On Jan. 15, 2020, the Department of Labor (DOL) released its 2020 inflation-adjusted civil monetary penalties that may be assessed on employers for violations of a wide range of federal laws, including: The Fair Labor Standards Act (FLSA); The Employee Retirement Income Security Act (ERISA); The Family and Medical Leave Act (FMLA); and The Occupational […]

  2. Coronaviruses and the Workplace – HR Insights

    Coronaviruses are fairly common and don’t typically affect humans. When they do, their effects are usually mild, as in the case of the common cold. However, deadlier variations of these coronaviruses have cropped up in recent years. Two examples of these evolved strains are the SARS virus of 2003 and the novel coronavirus, which was […]

  3. ACA Compliance Bulletin-PCORI Fees Reinstated Through 2029

    A federal spending bill enacted at the end of 2019 included several provisions affecting benefit plans. The bill repealed three major taxes and fees under the Affordable Care Act (ACA)—the Cadillac tax, the medical devices excise tax and the health insurance providers fee. The law also extended the PCORI fees for an additional 10 years. […]

  4. NEWS BRIEF: Equifax to Compensate Victims of Data Breach

    The Background In 2017, Equifax, one of the largest credit reporting agencies in the United States, was the victim of a massive cyber attack—an attack that compromised the personal information of approximately 147 million people. On July 22, 2019, the company agreed to pay at least $575 million—and up to $700 million—as part of a […]

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  5. Coverage in Action: Equipment Breakdown Insurance

    Equipment Breakdown Insurance Companies need safe and working equipment to operate efficiently and generate revenue. In fact, some organizations rely exclusively on a few pieces of equipment to run their entire business. Following a breakdown, major losses can occur, and many organizations turn to equipment breakdown insurance (sometimes referred to as boiler and machinery insurance). […]

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  6. Proposed Overtime Rule

    Earlier this year the Department of Labor issued a proposed overtime rule. It would establish new salary thresholds for the “white collar” exemptions to the overtime payment requirements under the Fair Labor Standards Act (FLSA). Under the proposed overtime rule, the salary threshold would increase from $23,660 to $35,308 per year. The proposed rule would […]

  7. Know Your Numbers: Coverage Gaps Often Lead to Massive Unanticipated Costs

    Coverage gaps can often prove fatal to organizations of many shapes and sizes. While this is known to many business owners in an abstract sense, we’d like to make it more concrete. How much can it really cost to have gaps in your coverages? Which coverages are most often overlooked? Which are most costly? Two […]

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