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This in-depth report examines some of the many challenges surrounding Medicare Secondary Payer compliance and includes strategies to make the compliance process easier for workers comp payers. It also explains the pending legislative and regulatory reforms that could reduce the Medicare reimbursement burden for insurers and employers. View a sample.
Productivity separates the winners and losers in the ultra-competitive commercial insurance brokerage and agency marketplace. Strategies may differ, but the goal is the same—to grow market share and profit despite overall market conditions. In this special annual broker supplement, we examine what the most productive insurance brokers operating in the United States are doing to maintain their competitive edge. Included are exclusive charts ranking the most productive agents and brokers. Experts explain qualities of winning brokerages, and we include analysis of pending federal and state legislation important to the brokerage sector. Profitable growth is something for which all brokerages strive. We profile three recent success stories, so you can find out the winning formulas of three brokerages that were particularly productive last year.
Public entities are going to be increasingly exposed to weather-related hazards, because climate change is expected to result in significant shifts in the frequency, severity, intensity and geographic distribution of extreme weather events in the coming years and decades. Even in the aftermath of disastrous storms such as Superstorm Sandy in 2012 and Hurricane Katrina in 2005, few cities have planned for climate change. This Business Insurance white paper examines the nature of catastrophic threats facing public entities, describes the steps cities and municipalities can take to reduce these threats and gives examples of effective crisis management and emergency preparedness. An enterprise risk management approach within a city's risk and crisis management department that links federal and local government agencies, the community and the area businesses goes a long way in disaster preparation. View a sample.
The Premium Edition of the 2013 Directory of Agents and Brokers provides detailed information about current trends in the global commercial insurance brokerage business, profiles of the world's 10 largest insurance brokers, along with a comprehensive directory of 150 insurance brokerage companies. This information-rich 48-page resource includes the complete directory listings for each broker in the directory, as well as all charts, rankings, analysis and profiles published in the July 15, 2013 special report on on Broker Trends & Profiles. Charts and rankings include: world's 10 largest insurance brokers; 100 largest brokers of U.S. business; largest U.S. benefit specialists; and leading U.S. retail brokers. View a sample.
This 68-page PowerPoint Business Insurance research report includes a detailed analysis of the online survey conducted this year among 281 risk managers. The results include the ranking of the service and expertise attributes risk managers consider most important in evaluating insurers, brokers and third-party administrators as well as the companies these buyers are most likely to recommend to their peers. View a sample.
Retaliation claims by employees have become a problem for employers, with more than 37,000 retaliation charges filed in 2012. The U.S. Equal Employment Opportunity Commission has taken an aggressive approach to pursuing claims where they allege employers fired, demoted or retaliated in other ways against workers that lodge a discrimination charge or participate in discrimination proceedings. Ironically, the retaliation claims often endure after the underlying discrimination charges have been dismissed. But it's not just a legal issue for employers; it's a financial issue too. The EEOC obtained $177.4 million in retaliation claims-related payments from employers last year. This white paper from Business Insurance details the problem, reviews the legal history, discusses successful defense strategies, and outlines ways to stop retaliation happening in the first place. View a sample.
This directory includes information about benefits consultants and/or benefits outsourcing providers that generated in 2012 at least $500,000 of their gross revenues from benefit consulting or benefit outsourcing. For the purpose of this directory, Business Insurance defines benefit consulting as providing advice on benefit issues directly to employers (not TPAs or health care organizations) on a fee-for-service basis. Participating companies consider their total benefit outsourcing services as a separate revenue source so they are able to separate them from total revenues. Benefit outsourcing services includes providing the administration of defined contribution plans, the administration of defined benefit plans, the administration of health and welfare plans or the administration of HR/payroll. View a sample.
There can be no standing still for insurance brokerages and independent agencies. In an increasingly competitive marketplace, the brokerage that doesn't find a way to grow isn't merely at a competitive disadvantage. It could be entangled in a losing battle for survival. Growth opportunities present themselves in multiple ways. This Business Insurance white paper explains various growth options for large and smaller brokers. Perhaps the highest-profile method is growth through merger or acquisition. These deals aren't confined to property/casualty operations, either, as employee-oriented brokerages prove to be increasingly attractive. Recruiting top talent must be part of any long-term growth strategy. Finding and retaining the brokerage industry leaders of tomorrow and providing them with a rewarding career with plenty of opportunities for advancement should be a top priority for any brokerage or independent agency. View a sample.
This double directory includes 66 domiciles worldwide with more than 6,000 captives. Specific captive regulation and legislation is included if provided by the domicile. In addition, this directory includes 40 captive managers that manage over 5,000 captives worldwide. The PDF also includes the captive market charts published March 11, 2013 as well as all the articles included in the overview of the captive industry.
A company's reputation is one of its most important assets. Years of good work can be jeopardized by just one incident that sours the public's view of an organization. A damaged reputation can result in a loss of sales and a lower stock price, and create long-term financial problems for a company. Given what's at stake, it is vital that companies respond effectively to any event that threatens their reputations. This latest white paper from Business Insurance explains what's at stake for companies, what they can do to manage the risk before and after an event happens, and what insurance coverage is available to meet the costs of restoring a damaged reputation. View a sample.
A little over a year ago, the phrase “pension de-risking” was not part of the pension plan lexicon. That changed on April 27, 2012, when Ford Motor Co. dropped a pension benefit bombshell when it announced that it would offer about 90,000 salaried retirees and former employees the option to take their current or future monthly annuity as a lump-sum cash payment. Offering pension plan participants a lump-sum option is not uncommon, but such offers typically are made to employees at the time they terminate employment, not when they have already retired and are receiving their monthly annuities. The move allowed Ford to reduce its exposure to unpredictable pension plan costs and allowed it to concentrate on its core auto business. Ford's move was soon followed by other large companies and the trend is expected to continue. This white paper explains how pension de-risking works, outlines the advantages of the strategy and reviews the outlook for the pension de-risking approach. View a sample.
Rising prices for workers compensation insurance policies and for excess insurance purchased by employers self-insuring their workers comp risks are cause for rethinking insurance options and possibly assuming more risk. Reducing insurance costs will require employers’ greater attention to loss analysis, safety and claims management. And assuming more risk also could mean taking on greater responsibility for managing workers comp service suppliers. The soft market has vanished, taking with it policyholders’ ability to get the price reductions and favorable policies available from 2004 through 2010. This Business Insurance white paper outlines various solutions for workers comp buyers to evaluate the advantages and disadvantages of different program structures. View a sample.
Workplace violence is a significant problem for employers. Recent well-publicized tragedies, such as the Sandy Hook Elementary School shootings and the Aurora, Colo., movie theater attack, show just how devastating acts of violence can be. While high-profile incidents are comparatively rare, numerous other acts of violence occur in workplaces every day, whether they are fatal attacks, violent robberies or fights on a factory floor. Employers often feel powerless in the face of random acts of violence, but the fact remains that they are responsible for the safety of their clients and workforces. This Business Insurance white paper explains how companies can prepare to respond to incidents of workplace violence and prevent incidents from occurring. View a sample.
Remember when most insurance agent and broker business transactions were offline? Customers, employees, and all other business associates were likely to conduct searches online, but all other business transactions and interactions were offline. Today, the virtual and the real are merged into a larger ongoing experience. Activities online easily are switched offline and the other way around. As a result, all businesses need a digital strategy that is aligned with their overall strategy and takes into consideration all the stakeholders in an enterprise — employees, management, customers and suppliers. This latest Business Insurance white paper specifically addresses how insurance agents and brokers can evaluate the needs of their business and develop a digital strategy that will help their business thrive. View a sample.
Resolving the majority of workers compensation claims is a straightforward process. Other more problematic claims can be time-consuming and costly, particularly when obesity or comorbidity are involved, or when inappropriate pharmaceutical use enters the picture. Ironically, though, the real challenge for claims administrators may not come from those problematic claims. A look through the rearview mirror at unresolved claims shows a large percentage of them started as medical-only injuries. Whether they begin as minor or troublesome claims, this relatively small percentage of claims consumes a large proportion of an employer’s workers compensation costs. How can claims adjusters better manage lengthy and hard-to-close claims and, in turn, better manage their employer’s resources? This white paper explores the potential for difficult claims, offering suggestions at every stage in the claims process to ease the pipeline. View a sample.
Enterprise risk management is a goal of many organizations, yet efforts to achieve ERM often are stymied by what seems to be the insurmountable challenge of identifying and measuring many business risks. While many of those organizations see value in examining exposures across the enterprise, they find themselves unable to craft the mechanisms to do so or recognize the tools that might help them in that process. This latest white paper from Business Insurance explains that, with a commitment from the top, involvement across the organization, and a look at some of the techniques that have worked in ERM programs elsewhere, risk identification and assessment need not be a roadblock on the path to enterprise risk management success. View a sample.
Going “green” is easier said than done. While many organizations consider the social and economic benefits of environmentally friendly buildings, the risks involved in going green are not always top of mind. But environmentally conscious construction presents numerous questions and challenges which have yet to be resolved in this still-young field. What are the standards for green buildings? Who is responsible for tracking new laws and regulations? What happens when standards are not met? Who is liable? This latest white paper from Business Insurance answers these questions and provides insights into how to manage the risks of going green. View a sample.
The more science discovers about obesity, the more chilling the effects of this condition appear. It is not only a disease in itself, but also a huge risk factor for numerous other diseases, from diabetes to cancer and joint damage. In addition, obesity compromises recovery from illnesses and injuries, which can result in relatively minor injuries remaining unresolved two or even three years down the road. This latest Business Insurance white paper explores the epidemic and explains why employers, and particularly workers compensation managers, should focus on this issue. Additionally, it offers steps that workers comp managers can take to prevent and/or mitigate the problem. View a sample.
Pressures at work against the health insurance market have caused the cost of health benefits to increase steadily for years and that trend will continue. The nation's health care reform law has the potential to offer relief, but mainly to individuals. Still, for insurers, costs are expected to increase as providers struggle to meet new requirements and regulations. Employers are caught in the middle. They can expect to assume burdens passed on from individuals and insurers. Furthermore, the new health care reform law requires most employers to provide insurance for all full-time workers or pay a per-employee fee. This latest white paper explores health coverage options and available alternatives and explains how, with creativity and dedicated effort, employers can find ways to keep health plan costs at reasonable levels. It also reveals alternative financing arrangements employers can adopt to provide the health benefits they desire to offer to workers.
Demographic changes are set to have a huge impact on society as baby boomers enter their 50s and 60s. How that vast generation of workers born after World War II will affect everything from pensions to health care has long been discussed by policymakers, actuaries and others as they seek to ready workers and the rest of the society for the inevitable realities that will have to be faced when those workers retire. But what if those workers choose to continue working? This white paper discusses the issues that employers must address as their workforces age, outlines strategies to make workplaces safer for older workers, and gives examples of how some employers have successfully implemented those strategies. View a sample.
Is self-funding health benefits right for your company? Too complex to manage? Not anymore! With health care cost increases still outpacing inflation, the savings from self-funding health care coverage is an option that employers can't afford to ignore. Traditionally seen as a cost-control strategy for large companies, self-funding benefits is now a realistic alternative for midsized and smaller businesses, too. This 2012 white paper from Business Insurance explains the advantages of self-funding health care benefits, how to avoid obstacles in the way of self-funding, and outlines how to manage the move from buying insurance to taking control of your benefits program. View a sample.
Organizations operating internationally need to be aware of bribery and corruption risks and have measures in place to curb their exposures. Laws and guidelines barring bribery of foreign officials, such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act, detail which activities are unacceptable and outline penalties that will be imposed on companies that breach the rules. But offering bribes, gifts or other facilitation payments often is seen as simply a cost of doing business, and breaking longtime habits is a difficult task. This latest white paper from Business Insurance details the laws that organizations need to comply with, examines trends in the enforcement of the laws, offers a framework for managing the risk, explains how insurance coverage might respond to liabilities arising out of bribery incidents, and analyzes defenses available to executives accused of corruption. View a sample.
Like it or not, your company is exposed to a growing number and array of cyber risks. Do you know how to manage these evolving and ever changing risks? This Business Insurance white paper identifies the different types of cyber threats that organizations face and what companies need to do to proactively identify, approach and manage these risks. In addition, the paper explores the unique risks created by the growing use of cloud-based computing solutions. The white paper also reviews the results of Business Insurance's proprietary 2012 Risk Manager Cyber Risks Survey. View a sample.
Do you have an updated disaster management plan? How effective is your plan in our current volatile environment? Is your business prepared to withstand a natural catastrophe, or will you be caught by surprise and risk loss of lives, property and business? The keys to answering these questions and surviving natural disasters are preparation and planning. Companies can minimize a catastrophe's damage by understanding their exposures, predicting a potential event's likely impact, taking steps to mitigate losses and having a road map in place to deal with a disaster and its aftermath. This white paper outlines key disaster planning steps and points out important exposures that businesses may overlook to their detriment. View a sample.