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The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.

Missouri Legalizes Recreational Marijuana and Adds Employment Protections for Medical Users

Missouri Legalizes Recreational Marijuana and Adds Employment Protections for Medical Users

December 5, 2022
On Nov. 8, 2022, Missouri voters approved Amendment 3, Marijuana Legalization Initiative, which legalizes recreational marijuana for adults aged 21 and older in the state. The new law goes into effect on Dec. 8, 2022. Employer Impact Amendment 3 does not prevent employers from enforcing drug-free workplace policies or disciplining or firing employees for using…
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Biden Administration Extends Student Loan Repayment Freeze

Biden Administration Extends Student Loan Repayment Freeze

November 30, 2022
On Nov. 22, 2022, the Biden administration announced it would extend the repayment freeze on federal student loans while its debt relief plan remains blocked in the courts. The loan payment pause is now extended until after June or when the administration is able to move forward with its plan. Federal student loan payments were…
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Today’s Top Compensation Trends

Today’s Top Compensation Trends

November 27, 2022
Although some organizations may cut jobs or reduce hiring as economic growth slows, some are paying higher employee wages to keep and win top talent. More than ever, compensation is top of mind for employers and employees alike. Today, workers can demand higher pay and better benefits as many employers face a worker shortage and…
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Job Openings Increased in September, Exceeding Forecasts

Job Openings Increased in September, Exceeding Forecasts

November 20, 2022
The U.S. Bureau of Labor Statistics (BLS) recently released its September Job Openings and Labor Turnover Summary. The month’s reported number of job openings increased by 437,000 to 10.7 million, surpassing what economists had forecasted. The September report follows several months of record-high job openings and quit rates. September’s increase in more than 400,000 job…
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DOL Extends Comment Period for Proposed Independent Contractor Rule

DOL Extends Comment Period for Proposed Independent Contractor Rule

November 16, 2022
On Oct. 26, 2022, the U.S Department of Labor (DOL) announced it would extend the comment period for its proposed independent contractor rule after pressure from business groups and lawmakers regarding the original timeline. Originally, the DOL provided 45 days for public comment. Stakeholders will now have until Dec. 13, 2022, to comment. Business groups…
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Key Differences Between Commercial Excess Liability and Umbrella Insurance Policies

Key Differences Between Commercial Excess Liability and Umbrella Insurance Policies

November 15, 2022
Commercial excess liability insurance and umbrella insurance are secondary coverage policies that attach after primary insurance policy limits—such as general liability, employer’s liability and commercial auto insurance—have been exhausted. This additional coverage can protect your business from the financial consequences of large losses that exceed what your primary insurance can cover. While excess liability and…
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4 Employee Engagement Tips to Prevent Quiet Quitting

4 Employee Engagement Tips to Prevent Quiet Quitting

November 12, 2022
“Quiet quitting” continues to be an emerging trend where workers only do what their job description entails without going above and beyond. Or, this could mean only doing work directly assigned to them by a manager, while not looking for other ways to contribute to a team. When employees feel undervalued for the work they…
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Employee Leave for Voting During Elections

Employee Leave for Voting During Elections

October 31, 2022
As 2022’s Election Day approaches on Tuesday, Nov. 8, employers may be curious about how to best prepare. While federal law does not require employers to provide their employees time off to vote, many states have voting leave laws that allow employees to take time off to vote in certain circumstances. Further, employees may desire…
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Ransomware, BEC Caused Half of All Claims in 2020, 2021

Ransomware, BEC Caused Half of All Claims in 2020, 2021

October 24, 2022
Ransomware and business email compromise (BEC) caused the most cyber insurance claims over the past five years, accounting for 44% of about 7,000 claims examined in NetDiligence’s 2022 Cyber Claims Study. The percentage of claims attributed to these two causes of loss rose to 50% for claims reported in 2020 and 2021. Of the 7,439…
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Patch Management Explained

Cyber Liability – Patch Management Explained

October 22, 2022
Patch management is the process of acquiring and applying software updates to a variety of endpoints, including mobile devices, computers, servers and embedded devices. Installing patches regularly is necessary to correct errors, help protect data and optimize system functions. This article provides information on how a consistent approach to patching and updating software can limit…
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