A new survey from the Gallup Organization, a consultation and polling company, shows that employer sponsored health insurance is on the decline. The survey began on January 1 of 2011 and came to its conclusion on December 31 of the same year. Declines in insurance coverage are a persistent trend in the U.S. despite claims from the federal government. The Obama administration insists that the Affordable Care Act has brought coverage levels to an all time high. While this may be true for young adults, this is not the case…
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The importance of understanding what business interruption insurance can provide
According to partner Robert Glasser from the Dempsey Partners L.L.C. New York Office, it is very important for a company to assess its needs for business interruption coverage and to do so carefully. That said, while CFOs and risk managers are typically confident in determining many of the insurance needs of their organizations, they often balk in the face of business interruption because they don’t have a structured approach to provide them with the information they require to make their decision regarding this coverage and its limits. Unfortunately, this discomfort…
Read MoreReport highlights the sluggish growth of health care spending due to U.S. recession
The worldwide recession has had a major impact on the health care system of the U.S. The effects are quite obvious in terms of insurance. As thousands of people throughout the country lost their jobs, they also lost their health insurance coverage. The recession, which lasted from late December 2007 to the middle of 2009, suppressed health care spending in the U.S. significantly, according to the federal government. The Obama administration released a report this week from the Department of Health and Human Services showing the impact of the recession…
Read MoreHigh deductible and consumer-driven employee insurance plans growing slowly but surely
The Employee Benefit Research Institute has released a new study concerning the changes seen in employee health insurance plans seen over the last year. The study shows that the changes have been relatively small, but they have had some impact on the insurance market. High deductible insurance plans are beginning to grow, according to the study, though traditional insurance plans – those with low deductibles – continue to dominate the market. The research institute claims that high deductible plans may overtake more conventional plans by the end of next year.…
Read MoreLawyers gain broadened professional liability coverage from OneBeacon
OneBeacon Insurance Group member, OneBeacon Professional Insurance (OBPI), has launched a broadened lawyers’ professional liability (LPL) coverage so that its protections will now include network security and privacy (NSP) liability. Lawyers can access this new offering in either of two possible ways, which are: 1. As an LPL policy endorsement 2. As its own standalone coverage According to the OBPI senior vice president of the LPL division, Kim Noble, these days, a law firm’s lifeblood is its information systems, and it is vital to protect those systems, as they may…
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