NEW YORK CITY COUNCIL PASSES EARNED SICK TIME ACT

The New York City Council recently overrode a veto by Mayor Bloomberg to pass the Earned Sick Time Act. This new legislation will require most private employers in New York City to provide paid or unpaid sick leave to employees working in the city. Beginning in April 2014, businesses with at least twenty employees will be required to provide a minimum of forty hours (five days) of paid sick leave. Coverage will expand to businesses with 15 or more employees starting in October 2015. Some businesses will be exempt from providing paid sick time; they will, however, still be required to provide leave without pay to employees.

The ALS Group July 23, 2013

Supply Chain Reputational Risks Heightened Amid Recent Worldwide Factory Deaths

A recent Wall Street Journal article about a high profile factory accident, this time in Cambodia, brings new emphasis to the fallout that can arise from supply chain risk. Asics Corporation, the Japanese sport shoe manufacturer, sourced some of its shoes from a factory in Phnom Penh. In April 2013, a mezzanine floor collapse killed a young father and a young woman who, reportedly, was only 15. The incident also injured a number of other workers. Fallout from the incident was almost immediate. Asics instructed its nine suppliers in Cambodia to join Better Factories Cambodia, which keeps tabs on working conditions in the Cambodian garment industry.

The ALS Group July 17, 2013

Five Ways to Avoid Workers’ Compensation Fraud

Nothing upsets a business owner or manager more than paying for and managing the fallout from a suspect workers’ compensation injury. Here are a few but, certainly not all, ways employers can help prevent a fraudulent claim and avoid allowing employees to extend their time away from work once injured.

The ALS Group July 10, 2013

Out of Pocket Limits Changes Begin in 2014

In employers’ 2014 plan year, all companies must ensure their non-grandfathered plans adhere to a single out of pocket (OOP) maximum for their employee’s health care plan expenses. This requirement applies to both fully insured and self-insured plans. Going forward, the OOP limit must include all spending on medical, prescription drugs and both mental health and substance abuse treatment benefits. Actuarial estimates indicate this change could increase employer health care costs between 1.5% and 2% next year.

The ALS Group June 27, 2013

Human Error and Enterprise Risk Management

When evaluating your company’s risks, one concept that is frequently overlooked is the idea of how human error could impact your organization. Until recently, there has been very little written on this subject. However, in the recent issue of the RIMS Risk Management Magazine, an article by Tony Kern and David McKay touched on this point and successfully demonstrated how human error is one risk that companies must continually monitor.

The ALS Group June 18, 2013

ACA-Related Whistleblower Claims

The ALS Group June 5, 2013

Can You Identify Red Flags in the Life of a Workers’ Injury?

Certain indicators early in the life of a workers’ injury are red flags — a strong possibility your employee’s healing will be delayed or that the claim may be fraudulent. If you notice any of the following signs, discuss the claim with your adjuster as soon as possible. Once the management of a workers’ compensation injury goes astray, it is usually difficult to bring it back to center.

The ALS Group May 15, 2013

Safety is Not an Accident

A recent Wall Street Journal article highlighted the differences in safety records between small and large drilling companies. Essentially, the large drilling companies (i.e. market cap in excess of $50 billion) realized a 183% reduction in safety violations per rig drilled compared to small companies (i.e. those with a market cap of less than $2 billion). While it is tempting to take the viewpoint that “bigger is always better”, in this case that is not necessarily true. There are some small drilling companies with outstanding safety records (some actually performing better than the “big boys”). The question is, “What did their management team do to drive great results from operations?”

The ALS Group May 1, 2013

Recreation Comes With Risks

The ALS Group April 30, 2013

Employers Beware of the Rising Health Care Costs

Employers should be concerned about the possibility of higher health care costs in 2014. Depending on the industry, some employers may be hit with premium increases and could possibly see penalties. For instance, employers in the hospitality sector such as retail and restaurant industries could see average increases of 60 percent in their health care costs. According to a report last month from the Society of Actuaries, the reasons for these increases are being attributed to the greater use of health care services by individuals who had previously had no coverage, and they further predict that the claims costs could increase by another 32% as early as 2017.

The ALS Group April 25, 2013

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The ALS Group Risk Management Articles

NEW YORK CITY COUNCIL PASSES EARNED SICK TIME ACT

Supply Chain Reputational Risks Heightened Amid Recent Worldwide Factory Deaths

Five Ways to Avoid Workers’ Compensation Fraud

Out of Pocket Limits Changes Begin in 2014

Human Error and Enterprise Risk Management

ACA-Related Whistleblower Claims

Can You Identify Red Flags in the Life of a Workers’ Injury?

Safety is Not an Accident

Recreation Comes With Risks

Employers Beware of the Rising Health Care Costs

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