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A Better Way to Manage Your Group Benefits Program

Intro to Surety Bonding for the Construction Industry

Commercial Insurance for the Construction Industry

Why IA, a Marsh & McLennan Agency LLC Company?

Insurance Associates, a Marsh & McLennan Agency LLC Company is a locally-based firm that has been advising and protecting clients for over 60 Years! We help them secure the right insurance, bonds, and employee benefits to meet their organization’s goals. We work with clients in all industries for their group benefit packages, but our expertise is in the construction industry for commercial insurance and surety bonding. Our clients stay with us because we work hard to earn their trust and confidence and they value the many extra services we routinely provide. For a little more about how we can help you please click on our three videos above. We look forward to meeting you!

Do You Have the Right Coverage for a Hurricane?

Do You Have the Right Coverage for a Hurricane?If you’re like most of us, your home is your most important investment. It’s where your money is. This is why you have a homeowner’s insurance policy to protect it. However, even the best home insurance won’t pay for every kind of damage. Right now, if you live in hurricane territory, understanding what your homeowner’s policy will and won’t cover is key to finding the right insurance. If you're in the East Coast threat zone, you should develop or firm up your hurricane preparedness plan and be ready to implement it if necessary. Residents in coastal areas should follow evacuation orders from local officials because of the potential for life-threatening storm surge flooding, damaging wind, Read More...

Medical Loss Ratio Rebates – Nice! But could there be more….?

Medical Loss Ratio Rebates – Nice! But could there be more….?Soon (and no later than September 30th) many businesses who sponsor fully-insured group health insurance plans will be receiving annual medical loss ratio rebates. These unexpected checks are nice, but are you still leaving money on the table? Could there be more? The answer is “yes” if your company’s claims experience is better than average. The rebate is based on your insurer’s experience for a large group of policies in your state.  If the claims on all these policies were lower than the required MLR percent, all included groups receive the same percentage rebate. However, if your claims experience at your company was better than your group’s average, you may still Read More...

Reference Based Pricing for Group Benefits: Lowers Employers Healthcare Costs

Reference Based Pricing for Group Benefits: Lowers Employers Healthcare CostsEmployers continue to search for ways to control healthcare costs. In the self-funding market there is an alternative model emerging as a creative option to traditional discount pricing through provider networks. Reference Based Pricing (RBP) is based on the Center for Medicare and Medicaid Services (CMS) costs, which is regularly accepted by providers for the services provided to patients. Medicare pricing is significantly less than what insurance companies pay. For example, in 2015 the national average charge by providers for a Carotid Artery Stent was $73,220 but the average Medicare payment was $14,047 according to CMS.  Under a RBP plan, employers set an amount, percentage, or range of payment for services Read More...

New Flood Option Available for Commercial Property Owners

New Flood Option Available for Commercial Property OwnersWhen most people think of flood insurance they think of the images on the news showing the residential homes under water during Superstorms or Hurricanes, however commercial properties have just as much if not more risk to flood damage.  The need for a separate insurance policy covering loss due to flood arises from the fact that flood loss is excluded from coverage under nearly all commercial property insurance forms. Effective April 2018, ISO (Insurance Services Office) has available a commercial flood insurance product which gives property owners and agents an alternative to the NFIP (National Flood Insurance Program).  NFIP is the subject of a “major showdown” in Congress as it approaches Read More...

Employee Heat Stress Management – More Than Just Employee Well Being

Employee Heat Stress Management – More Than Just Employee Well BeingEvery year general and subcontractors have to practice good heat stress management for their workers exposed to the conditions on jobsites nationwide.  It is a topic that is addressed every year with more and more resources made available by OSHA.  Common sense is that it affects worker productivity, which ultimately influences the bottom line, but the impact on productivity is much more profound than many superintendents, foremen, and project managers realize. Time is money of course and there is a lot of pressure on general and subcontractors to get the job done on time.  OSHA has guidelines regarding heat safety that are the minimums based on temperature.  Just because more time Read More...

CYBER RISK – NO PROBLEM

CYBER RISK – NO PROBLEM“My company is not vulnerable to cyber-attacks of other lurking cyber exposures, it would never happen.”  Does this sound like you? It could happen and is not a matter of if, but when it might happen. It is time to assess what exposures exist in your business and what preventative measures can be taken to protect your company for an operational disruption and possible financial loss.  Even a small cyber event could pose a significant financial burden to your company, and it could be tough to recover from it. Your approach should be a combination of risk awareness, risk management, and risk transfer (insurance).  Conduct a risk check survey with the Read More...

HealthCare Transparency

HealthCare TransparencyHaving worked as an employee benefits consultant for nearly 20 years, I’ve had the opportunity to advise clients on how to get the most out of their benefit spend year over year. Some years the benefits plan worked better than average and the client received a 5% rate increase at renewal time. Other times the plan didn’t work as well and the client received the maximum 35% increase allowed by the insurance carrier. In both cases, and in all cases in between, two things became clear: 1.) the trend in healthcare benefits is for rates to increase each year, whether 5%, 35%, or by some other number(statistically speaking, shouldn’t there Read More...

Income Protection – Are Your Employees Prepared?

Income Protection – Are Your Employees Prepared?According to the Social Security Administration, more than 25% of individuals ages 20 and older will be temporarily or permanently disabled before reaching retirement age.  People are generally advised to have a minimum of 6 months of salary saved up in case of debilitating illness or injury causing the individual to be unable to work.  The reality is that most people are not financially capable of this and are living paycheck to paycheck.  How will they pay their bills or provide for their families if they are unable to work? Many employers are generous enough to give their employees company-paid short term and long term disability coverage that provide a source Read More...

Data Transparency is the Key to Managing Health Insurance

Data Transparency is the Key to Managing Health InsuranceIn every other aspect of business today, data transparency and data analytics are becoming the foundation of good management.  Having access to good data is the key to: Better decision making Enablement of key strategic initiatives A better sense of risk and opportunity Better financial performance If you are a baseball fan, you are probably very familiar with the trend, that even in sports, vast data analytics has become the basis for better managerial decisions. Unfortunately, when it comes to fully-insured health insurance, the insurance companies share little or no data.  This makes it impossible for employers to make smart decisions regarding their plans.  There is little or no motivation for the Read More...

How to Get the Full Value of Your Car in an Auto Claim

How to Get the Full Value of Your Car in an Auto Claim“No” is not always the final answer in many claims situations, but you may have to do some homework to get the best possible settlement. The car that you bought new several years ago is probably worth more to you than it would be to someone else since you know its quirks, and how well it has performed over time.  Not to mention that it has never been in an accident until now. If someone runs into your car and totals it, tort law says that they only owe you the value of that car immediately prior to the accident.  But what is the value?  You and the insurance company adjuster may Read More...

Space Heaters – How to Keep Your Home and Business Safe This Winter

Space Heaters – How to Keep Your Home and Business Safe This WinterIt is almost that time of year again.  The time of the year when the weather turns cold and families and businesses use a variety of options to keep warm.  A popular choice is the use of a space heater.  Every year there’s stories about a home or business burning down because of a space heater.  As you have probably heard before, homes and buildings can be rebuilt, lives can’t. A widely talked about rule suggests keeping a minimum of 3 feet between the space heater and anything combustible.  Sounds simple.  The reality is that there are many precautions, not just that one.  Unfortunately the number of space heater fires is Read More...

Don’t Get Hosed By Your Water Damage Claim

Don’t Get Hosed By Your Water Damage ClaimWe all have a monster lurking in our walls, under our floors and above our ceilings.  Water seems so nice coming out of the faucet into our cup, or when waking us up in the shower each morning.  However, when a pipe ruptures, a fitting fails, or toilet overflows, it can ruin your day, and wreck your business. If your business is housed in a multi-unit development, especially a multi- level building, you are also surrounded by your neighbor’s plumbing and a mishap in their space can rain havoc onto you. As Murphy’s Law seems to dictate, water damage losses often seem to take place after business hours, during holidays and weekends.  Read More...

The Medical Marijuana Dilemma – RX for Workers Compensation Disaster?

The Medical Marijuana Dilemma – RX for Workers Compensation Disaster?The National Council on Compensation Insurance has addressed the issue of Medical Marijuana in two recently released articles with three still to come.  The series is titled “The Marijuana Conversation”.  The first two installments covered the questions that insurers are asking and the questions the employers are asking.  The third installment will cover the questions that employees are asking.  This is a topical issue with no easy answers to these questions.  Many states have voted to legalize marijuana for medical and recreational use which has led to this dilemma in regards to the various stakeholders in regards to Workers Compensation.  Twenty-nine states and Washington, D.C. have legalized marijuana for medicinal Read More...

The Reality of the 100 year flood – Separating Myth From Fact

The Reality of the 100 year flood – Separating Myth From FactBy now everyone has seen footage of the devastating flooding in Southeast Texas from Hurricane Harvey.  It seems like there’s always some catastrophic flooding somewhere in the US frequently.  Various terms relating to floods and insurance are thrown around; such as 100 year flood, flood plain, FEMA flood maps, etc.  It probably seems odd when you hear that some place has had a 100 year flood, but you remember how it seemed like yesterday that same place had another 100 year flood.  How can that be?  It was on the news that such-in-such area has a 1% risk of a 100 year flood, so the odds of that happening more Read More...

OSHA Proposes New Deadline for Electronic Reporting Rule

OSHA Proposes New Deadline for Electronic Reporting RuleIn 2016, OSHA issued a final rule that requires certain employers to submit data from their injury and illness records (forms 300, 300A and 301) electronically so it can be posted on the agency’s website. Although the rule initially required affected employers to submit this data by July 1, 2017, OSHA recently proposed a new deadline of December 1, 2017.  Today simply not participating is not an option, this is a rule that is REQUIRED, let us help you follow this new mandate. The proposed deadline is the result of a delay to the Injury Tracking Application, the online tool that OSHA will use to collect data. The Injury Tracking Application Read More...

 

Digital Transformation Unlocks New Opportunities for #FinancialServices Industry buff.ly/2UzHwru #technology ... See MoreSee Less

Digital Transformation Unlocks New Opportunities for #FinancialServices Industry https://buff.ly/2UzHwru #technology

3 days ago

Insurance Associates, a Marsh & McLennan Agency LLC Company

Great time at the annual IA Christmas Party! Enjoy our masquerade pictures below! ... See MoreSee Less

Great time at the annual IA Christmas Party! Enjoy our masquerade pictures below!
#ACA Reporting Relief Renewed for 2018; Reporting Deadline and Good Faith #Compliance Extended https://www.marshmma.com/blog/aca-reporting-relief-renewed-for-2018-reporting-deadline-and-good-faith-compliance-extended

Marsh & McLennan Agency #Compliance Update:: IRS Increases Health #FSA Contribution Limit for 2019 & Adjusts Other Benefit Limits...Read more! buff.ly/2E4ztht ... See MoreSee Less

Marsh & McLennan Agency #Compliance Update:: IRS Increases Health #FSA Contribution Limit for 2019 & Adjusts Other Benefit Limits...Read more!  https://buff.ly/2E4ztht
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