We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
Last week on March 26-28, 2012, the U.S. Supreme Court heard arguments on the Patient Protection Affordable Care Act (PPACA), commonly referred to as “Health Care Reform”, to determine if the Act is constitutionally sound. The Supreme Court is expected to render a decision in late June 2012.
The complexity of demonstrating proper compliance with Health related programs is only one more headache employers need to deal with. Proper compliance is essential in order to avoid costly fines (many are $100-$250/employee per day) and penalties from the Department of Labor (DOL). Many smaller companies, with human resources staff already pushing the limit from the normal stresses of HR issues (including regulations, compliance, claims etc), might be at risk for noncompliance issues regarding healthcare. An article from the March 2012 issue of CFO magazine highlights the need for all companies to remain vigilant in order to avoid fines & penalties from the DOL.
The ALS Group applauds the Appellate Division of the NY Supreme Court for upholding regulation 194 in a unanimous decision on March 8, 2012.
As part of Title V of the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law on July 21, 2010 the Federal Insurance Office (FIO) is a new agency within the Department of Treasury. This office was designed to provide expertise at the Federal Level since, currently, all insurance regulation and enforcement is governed state by state.
The recent article in CFO magazine highlights a potential mine field for employers. In mid 2011, I wrote about the subject, the reasonableness of plan fees and the fiduciary responsibility sponsors have for their prudent management. Shortly, the Department of Labor will require specific fee disclosures which may send shock waves to participants already depressed at lackluster returns.
2011 was one of the most challenging years for many business owners and will be one of the most costly for insurers. Losses from insured natural have exceeded $100 billion for 2011 undoubtedly triggering an opportunistic response from insurers. This on top of the increased scrutiny from stakeholders has put company senior leadership in the “hot seat” to be vigilant to mange risk appropriately. Company’s are still struggling under difficult economic times and need to be aware of and strive to manage their Total Cost of Risk (TCoR).
Yesterday’s Wall Street Journal article outlines a tragic elevator incident resulting in one fatality and several injuries. This event should spark the interest of all building owners to examine how their own “contractual risk management program” will be effective in insulating the Building Owner against such events. Many organizations have programs in place that purport to obtain indemnity and insurance from vendors but in practicality, it is often overlooked and almost never audited for compliance. When it comes to Elevator Maintenance Companies many attempts to provide a separate “Owners & Contractors Protective” policy (OCP) in lieu of extending their own coverage and affording the more traditional “additional insured” status.
Last year we released an article that outlined the dangers Property Owners face from slip and falls on their property resulting from improper removal of ice and snow. This is one of the unfortunate aspects of winter in the Northeast.
Trying to insulate yourself from downstream risk is always a suggested (if not arduous) Risk Management Best Practice. In the attached Rough Notes article regarding Vassar College, there are a few twists and turns to take note of.
On October 11, 2011, The ALS Group attended the ACG M&A East Conference in Philadelphia. This having been our first time participating in the conference, we were curious to see what the attendance would be like, in light of the economy and the challenges it presents to the M&A industry. We were inspired to see that 1,300 professionals were in attendance – the largest to date.
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At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information: [email protected]
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information : [email protected]
New Jersey
175 Main St
Woodbridge, NJ 07095
Tel: +1-732-395-4250
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
