- Marsh & McLennan Agency, known locally as Insurance Associates - https://insassoc.com -

Marsh & McLennan Agency, known locally as Insurance Associates Company

Surety Bonding [1]Commercial Insurance [2]Claims Management and Forms [3]Employee Benefits [4]Personal and Life Insurance [5]

We Moved. Come Visit!

A Better Way to Manage Your Group Benefits Program

Intro to Surety Bonding for the Construction Industry

Commercial Insurance for the Construction Industry

Why Marsh & McLennan Agency?

Marsh & McLennan Agency, known locally as Insurance Associates 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!


How Much Coverage Should I Have On My House? [7]

How Much Coverage Should I Have On My House? [7] There are few things in life worse than losing your home to fire or a natural disaster.  Except, that is, discovering in the aftermath that you do not have enough homeowners insurance coverage to rebuild the house back to the way it was before trouble struck.  If you get guaranteed replacement cost coverage, that is unlikely to happen. Why? Because guaranteed replacement cost will pay for the full cost of rebuilding your house back to its previous size and specifications* – right down to the granite countertops, custom bookshelves, and gleaming hardwood floors that you so love. The reality is that it is almost impossible to estimate to the penny what it’s Read More... [7]

Open Enrollment: See You Next Year! [8]

Open Enrollment: See You Next Year! [8]Let’s all admit it, when the annual open enrollment period is over and everyone has their ID cards, and payroll deductions are set, we all want to take employee benefits off the to-do list.  We are happy if we don’t have to think about PPO, HSA, FSA etc. for another year.  There are so many other tasks that HR managers need to focus on that it is nice to have open enrollment out of the way. The truth is, next year’s open enrollment will work best if employee benefits remain in focus throughout the year.  Here are some things that should be done outside of open enrollment: Review – Now is Read More... [8]

Backdoor Support for Your Human Resources Department [9]

Backdoor Support for Your Human Resources Department [9]If you have ever found yourself with a tricky Human Resource issue or you are looking for ways to offer your employees additional training resources, Marsh & McLennan Agency, known locally as Insurance Associates, provides you with two platforms to boost your Human Resource “resources.” The ThinkHR platform is an integrated suite of HR knowledge, content and training solutions.  It can provide easy and immediate access to expert HR Advisors (accessible from 8 am to 7 pm Central each business day) who will provide information and answers to minimize risk associated with legal and regulatory matters pertaining to HR compliance, employment law, and health care.  You have access to national and Read More... [9]

Choices and Employee Benefits [10]

Choices and Employee Benefits [10]I think we can all agree, if we visited a grocery store for a box of cereal and the store only sells bran flakes, we’d look for a new store (unless you really like bran flakes).  We might also look for a new store if there were lots of options but with names we didn’t recognize, no ingredients listed and no picture of the front of the box showing us what we would be waking up to eat each morning. Employee benefits are supposed to be a benefit.  Let’s face it, they also cost a lot of money!  Employers don’t want employees “leaving the store” because there are not enough choices Read More... [10]

A “Better Model” for Insurance and Surety Services [11]

A “Better Model” for Insurance and Surety Services [11]I made a career move from the banking industry to the insurance brokerage/consulting business eighteen years ago.  I quickly observed that most of the construction businesses I talked to maintained multiple relationships with professionals and firms that separately handled their Property & Casualty Insurance, Surety Bonds, and Employee Benefit programs.  Marsh & McLennan Agency, known locally as Insurance Associates has always focused on building a platform to support and broaden our relationships with our construction clients where we served all of their insurance and bonding needs.  Over time, I have realized why this approach makes so much sense and can be extremely beneficial to the businesses we serve. DEEP INSTITUTIONAL KNOWLEDGE Read More... [11]

Active Shooter Preparedness: 5 Steps Every Business Can Take [12]

Active Shooter Preparedness: 5 Steps Every Business Can Take [12]I wanted to share the following article on the disturbing increase in workplace violence. It outlines steps that businesses should implement to prepare, prevent and mitigate such situations: It’s a scenario no business wants to think about: an active shooter or violent offender on the premises. An active shooter is an individual actively engaged in killing or attempting to kill people in a populated area. According to the FBI, these individuals do not necessarily have to yield a gun but could alternatively involve driving a car into a crowd. From 2000 to 2017, there were 250 active shooter incidents in the United States. These horrific acts of violence took place across many industries and geographic locations. According Read More... [12]

Observations on the Local Housing Market Now and Going Forward [13]

Observations on the Local Housing Market Now and Going Forward [13]The housing market continues to be strong in the Mid-Atlantic and throughout the eastern United States as rates remain low and home sales continue.  As the sixth most populous metropolitan area in the country, the DMV market has had increasing price gains in the past decade and dwindling availability of new single-family housing stock close to the District itself.  The rise of telework and older millennials beginning their transition from rental units to owned homes has meant that demand for new homes continues to be met in the suburbs and exurbs with the Allegiance Surety subdivision group of Marsh & McLennan Agency, known locally as Insurance Associates continuing to see Read More... [13]

Master Builder’s Risk [14]

Master Builder’s Risk [14]Builder’s Risk insurance can be a confusing topic.  Should the General Contractor purchase the policy?  Should the owner? Should the contractor have a master builder’s risk program?  Are single project policies best?  Not every situation is going to have the same answer. More often than not it is the Owner not the General Contractor dictating who is to procure the Builder’s Risk policy.  One of the best ways for a General Contractor to maintain as much control in this process as they can, is to have a Master Builder’s Risk Program.  A master program allows rates and terms to be determined at the beginning of a policy period so long as Read More... [14]

Women at Work: Safety and Health Considerations [15]

Women at Work: Safety and Health Considerations [15]Women working in fields today such as construction can face more problems than men working in the same field. Women face physical dangers that are often overlooked because they don’t apply to men. Some of these include: Personal Protective Equipment (PPE), Women’s Health, and Ergonomics. To expand on each of these PPE is usually only ordered for men in men’s sizing because most of the workers are men. While it may not seem like a big deal initially if a safety vest is a little too large it is a big deal if a hard hat, or respiratory mask is the wrong size. This could cause a serious life-threatening injury. Read More... [15]

Five Ways Contractors Keep an Active Surety Bond Program [16]

Five Ways Contractors Keep an Active Surety Bond Program [16]For now, the building industry remains strong with labor shortages proving to be the toughest obstacle to overcome for construction companies.  As the business and credit cycles turn, maintaining healthy backlog levels will become a critical issue for contractors.  Maintaining a bond program, even if you don’t regularly use it, can help your company keep a healthy backlog, diversify its revenue stream in a downturn, and go after larger jobs that others can’t.  In the end, your company will be ready to face any economic headwinds with continued support from your surety bond company. No matter the business cycle, sureties look for predictable margins and will terminate accounts that present too Read More... [16]

Turn Your Insurance Premiums into Profits [17]

Turn Your Insurance Premiums into Profits [17]Why best-in-class companies should consider joining a member-owned Group Captive insurance Company Insurance expenses are usually some of the largest expenses for mid-sized business.  If you have a large workforce, providing health insurance to employees is an important benefit but also a burden, with premium rates outpacing inflation and more than doubling over the last ten years.  If your business operates in a hazardous industry,  your Workers Compensation, General Liability and Auto Liability costs will also be significant and subject to insurance market fluctuations. A problem with traditional insurance is that the better risks tend to subsidize the poor risks.  The best run companies, with better than average insurance claims, do not Read More... [17]

Do You Have the Right Coverage for a Hurricane? [18]

Do You Have the Right Coverage for a Hurricane? [18]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... [18]

Medical Loss Ratio Rebates – Nice! But could there be more….? [19]

Medical Loss Ratio Rebates – Nice! But could there be more….? [19]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... [19]

Reference Based Pricing for Group Benefits: Lowers Employers Healthcare Costs [20]

Reference Based Pricing for Group Benefits: Lowers Employers Healthcare Costs [20]Employers 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... [20]

New Flood Option Available for Commercial Property Owners [21]

New Flood Option Available for Commercial Property Owners [21]When 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... [21]

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