As of late, all risk management professionals have been engaging in challenging conversations with their clients. The unfortunate truth is that the insurance industry never anticipated a major outbreak like the Coronavirus, and therefore, has not drafted any policy to provide specific coverage for this scenario. We are in uncharted territory. At the moment, it […]
While so much of the economic impact to businesses stemming from the Coronavirus is seemingly uncovered by insurance policies, there are conditions under which employers may feel some relief. Workers Compensation is the area where we may see some coverage for a directly infected employee, if it can be proven the infection was contracted in […]
With many businesses closing or switching to remote work due to current events, many buildings and storage yards are unattended. Aside from installing or reactivating central station monitored alarm systems, here are ways you can keep your business safe from theft.
“Psychologists define resilience as the process of adapting well in the face of adversity, trauma, tragedy, threats, or significant sources of stress — such as family and relationship problems, serious health problems, or workplace and financial stressors. As much as resilience involves ‘bouncing back’ from these difficult experiences, it can also involve profound personal growth.” […]
Feeling Overwhelmed? Feeling scared? COVID-19 and Anxiety Do conversations about COVID-19 have you overwhelmed? Fear and anxiety about a disease can be overwhelming and can affect many of us. Developing the right coping skills can help not only you, but the people you care about and work with. Here is some advice that may help: […]
Lots of questions A number of clients have been in conversation with us to inquire whether or not economic loss caused by disruptions tied to Covid-19 would be covered under their Business Interruption policy. Here is an outline of what you need to know. Policy Stipulations Unfortunately, these policies were designed by carriers to replace […]
On March 18th, President Trump signed into law the Families First Coronavirus Response Act (the Act). The relief granted by the Act is very specific. Effective no later than April 2, 2020, the Act will provide short-term financial support in the form of paid leave to individuals employed by covered employers (private employers with fewer […]
There’s justifiably a lot of fear and concern swirling around the news of a fast-spreading contagion—COVID-19, also commonly referred to as Coronavirus. Not only can this new contagion purportedly have a long incubation period without symptoms, there are still unknowns related to means of transmission and a lack of reliable data as to infection rates […]
Under ERISA, a health plan fiduciary is any individual who has discretionary authority in administering or managing a group health plan or controlling plan assets. A group health plan must have at least one named fiduciary which will generally be the employer, acting through individuals such as company officers or a plan administration committee. However, […]