Business Insurance

Insurance needs, taxes and regulations for renting out a home in Massachusetts

Do you rent out your home on Airbnb or similar sites? For more than 14 nights a year? Less than 15 nights a year? Make sure you are “in the know” about the new insurance needs, taxes and regulations for renting out a home in Massachusetts: Quick facts: All short-term rentals must be insured and registered with the state of [...]

By | January 7th, 2019|Categories: Business Insurance|

What is Open Enrollment for Health Insurance?

Multiple health insurance sources have open enrollment periods, such as Medicare, job-based insurers, and individual market health insurance companies. Open enrollment for Medicare is October 15 through December 7 each year. However, job-based open enrollment periods will vary according to how the employer sets them. The individual market has set the 2018 open enrollment period, as well as future timeframes, [...]

By | November 13th, 2018|Categories: Group Benefits & HR, Personal Insurance|

True Protection for Non-Profit Board Service

An underreported fact is that 43% of High Net Worth individuals participate on non-profit boards. One common and volatile exposure from this is being held personally liable for decisions of the board. Generally, we find that individuals do not understand the exposure or the risk. Many individuals assume that their personal umbrella covers their not-for-profit (NFP) board service, but this [...]

By | August 23rd, 2016|Categories: Blog, Business Insurance, Personal Insurance, Risk Managment|

FLSA Overtime Rule Change

On May 18, 2016, the Department of Labor (DOL) released a new rule overhauling overtime wage payment in the United States. The new rule will more than double the salary threshold that employees must meet to qualify for the overtime wage exemption. Under the new rule, the salary threshold will increase from $23,660 to $47,476 per year. It also increases [...]

By | July 22nd, 2016|Categories: Blog, Business Insurance, Business Resources, Resources|

OSHA Penalty Adjustments To Take Effect August 1, 2016

As you may have heard, in November 2015, Congress enacted legislation requiring federal agencies to adjust their civil penalties to account for inflation. The Department of Labor is adjusting penalties for its agencies, including the Occupational Safety and Health Administration (OSHA). In a nutshell, OSHA’s maximum penalties, which were last adjusted in 1990, will increase by 78%. Going forward, the [...]

By | July 13th, 2016|Categories: Blog, Business Insurance, Business Resources, Resources|

Hiring Employees for your New Business?

How are you going to structure your staff?  Are you going to hire W2 employees or 1099 independent contractors?  What does that mean for insurance? First step, if you are going to hire W2 employees you are going to need a Federal Employer Identification Number.  Sign-up online at https://www.irs.gov/. The U.S. Small Business Administration has resources for taxes and reporting your [...]

By | May 19th, 2016|Categories: Blog, Business Insurance, Risk Managment|

NFIP: Upcoming Changes for Flood Insurance

As of tomorrow, April 1, 2016, many changes will affect the National Flood Insurance Program (NFIP), impacting businesses, homeowners, and insurance agents & brokers. Congress recently passed both Biggert-Waters and the Homeowners Flood Insurance Affordability Act of 2014 (HFIAA) in an effort to strengthen the NFIP. The new HFIAA-imposed changes will take effect on April 1 for any individual with [...]

By | March 31st, 2016|Categories: Blog, Business Insurance, Personal Insurance, Specialty Insurance|

Cyber Security: Relying on the Luck of the Irish?

Who do you know that’s relying on the Luck of the Irish to keep their business safe from Cyber Attacks? According to a recent study by Price Waterhouse Coopers, only about 47% of businesses perform periodic risk assessments on their security systems. Deland, Gibson Insurance will perform a Risk Assessment for any business that: Stores credit cards in their computer [...]

By | March 16th, 2016|Categories: Blog, Business Insurance, Risk Managment|

IT Security – Are Your Employees Sidestepping Security?

In business, we hope that our employees are looking for opportunities to minimize wasted time, be the most productive, and do their best work as efficiently as possible. However, workarounds done in the name of efficiency could be your business' future security issue. This interesting article from Data on the Edge, 5 Ways Your Employees Sidestep Information Security Policies, highlights the [...]

By | February 26th, 2016|Categories: Blog, Business Insurance, Business Resources, Resources, Risk Managment|

Employee Benefits & HR: Increased Profitability Long Term

Many companies, historically, have viewed Employee Benefits and Healthcare as necessary commodities in attracting and retaining top talent. As costs rose with an aging demographic, the cost of care, litigation, health reform, and a host of other factors, employers absorbed cost increases while also passing them off to employees in the form of increased out of pocket exposures and voluntary [...]

By | February 24th, 2016|Categories: Blog, Business Insurance, Group Benefits & HR|