News
The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.
Diversity, Equity and Inclusion Considerations
November 9, 2021
Each member of a board of directors brings their personal and professional life experiences to the table, making it imperative for a nonprofit to elect a diverse and inclusive group. Since the board strategizes and supervises the organization’s direction, having diverse experience, expertise and perspectives can put the nonprofit in a strong position to promote…
Read MoreOSHA Reveals the Top 10 Most Cited Standards for the 2021 Fiscal Year
November 4, 2021
Using preliminary data, the Occupational Safety and Health Administration (OSHA) recently revealed its top 10 most frequently cited standards in the 2021 fiscal year. This information is valuable for businesses of all kinds as it helps them identify common exposures that affect their workforce and gives them the information they need to plan their compliance…
Read MoreSocial Security Cost-of-Living Adjustment Largest in Decades
November 2, 2021
Effective Jan. 1, 2022, Social Security recipients will see an increase in their monthly checks. Additionally, the cap on taxable income to help fund Social Security benefits will also be increasing. The cost-of-living adjustment (COLA) will be 5.9% in 2022, affecting nearly 70 million Americans. This is the largest increase to the benefits in nearly…
Read MoreHow Natural Immunity to COVID-19 Might Factor Into Vaccine Mandates
October 31, 2021
Recently, President Joe Biden announced sweeping COVID-19 vaccination mandates. Federal employees must now be vaccinated as a condition of employment. And, soon, private employers with 100 or more employees will need to implement the same measure or allow weekly negative COVID-19 testing as substitutes for vaccination. Little is currently known about the upcoming emergency temporary…
Read More3 Strategies for Reducing Health Benefits Costs in 2022
October 28, 2021
According to a PricewaterhouseCoopers (PwC) report, medical costs are projected to increase 6.5% in 2022. That’s why employers must think strategically but creatively about how they can lower their health benefits expenses. Here are three strategies to help. 1. Control Drug Spending Employers can educate employees on the price differences between name-brand and generic medications.…
Read MoreU.S. Commercial Premiums Continue to Cool, but Cyber Rates Soar
October 21, 2021
Premiums for commercial property and casualty (P&C) insurance lines once again increased in the second quarter (Q2) of 2021, led by a 25.5% jump in cyber. Q2 marked the 15th consecutive quarter of U.S. commercial P&C premium increases—8.3% across all-sized accounts, according to The Council of Insurance Agents and Brokers (CIAB) Commercial Property/Casualty Market Index.…
Read MoreFederal Court of Appeals Rule USERRA May Require Paid Military Leave
October 19, 2021
The federal Uniformed Services Employment and Reemployment Rights Act (USERRA) provides job protections for employees who are absent from work due to service in uniformed services. Among those protections is the entitlement to rights and benefits generally provided to employees with similar seniority, status and pay who are on furlough or leave of absence. In…
Read MoreCyber Case Study: SolarWinds Supply Chain Cyberattack
October 17, 2021
In the final month of 2020, it was revealed that foreign hackers had orchestrated a supply chain cyberattack throughout the past year in an effort to compromise several federal agencies and private organizations. The cybercriminals first infiltrated the digital infrastructure of SolarWinds—a Texas-based technology company—before using that infrastructure to gain access to sensitive data from…
Read MoreDashboard Camera Considerations
October 12, 2021
Although an organization may benefit from utilizing vehicles, doing so can also carry numerous exposures. Specifically, drivers who engage in unsafe behaviors behind the wheel could contribute to costly road incidents. Even if an organization’s drivers weren’t responsible for causing such incidents, other motorists or pedestrians might still try to blame them, thus resulting in…
Read MoreAgencies Issue No Surprises Act and Transparency Rule FAQs
October 10, 2021
On Aug. 20, 2021, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued frequently asked questions (FAQs) regarding the implementation of the No Surprises Act and transparency provisions of the Consolidated Appropriations Act, 2021 (CAA). The FAQs provide that Departments will defer enforcement of the rules regarding: Publishing transparency…
Read More