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Covering Coronavirus: Risk Considerations Volume 1, Issue 1

… a covered peril. As most Property policies do not consider disease or virus to be covered perils, the associated time element clauses in the policy will not apply. Even with a specific Infectious or Communicable Disease coverage clause in the policy, coverage is limited to actual exposure at an owned location. An occurrence at a supplier or customer location will not trigger coverage. Policy wording will be tested as the effects of coronavirus work their way around the world and through the insurance industry. Even if policies do not contain specific coverage for disease, we recommend the following: Track any …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-1/

Can ICHRAs Be Used to Make Healthcare a Defined Contribution Benefit?

… the plan they select, making the entire premium tax-advantaged. The ICHRA can be structured to meet ACA coverage and affordability guidelines. In 2020, the individual’s share of the cost of self-only coverage cannot exceed 9.78% of household income. The Internal Revenue Service (IRS) has provided employer location-based safe harbor to make this a bit easier to administer, allowing employers to use their location rather than the employee’s residence address to determine the lowest-cost silver medal plan upon which to base contributions. Also, the Centers for Medicare & Medicaid Services (CMS) has developed a calculator …

https://www.epicbrokers.com/insights/can-ichras-be-used-to-make-healthcare-a-defined-contribution-benefit/

Compliance Alert: ACA Affordability Safe Harbors: A Primer

… recognized this challenge and created three safe harbors for employers to determine whether they have offered affordable coverage. An employer has the option to choose any of the three affordability safe harbors as long as it applies the safe harbor consistently and uniformly to all employees in an acceptable category. The IRS has stated that acceptable classes include specified job classifications, hourly vs. salaried, geographic location or any other legitimate business criteria. Listing employees by name is not an acceptable classification. An employer is not forever locked into a safe harbor; it may choose a different safe harbor in the

https://www.epicbrokers.com/insights/compliance-alert-aca-affordability-safe-harbors-a-primer/

Compliance Alert: San Francisco Health Care Security Ordinance Top-Off Payments Due February 29

… quarter if it meets the following conditions: Employs one or more workers within the geographic boundaries of the City and County of San Francisco (City), Is required to obtain a San Francisco business registration certificate, and Is a for-profit business with 20 or more persons performing work at any location, or a non-profit organization with 50 or more persons performing work at any location. Covered employees Generally, covered employers must make Expenditures for employees who regularly work at least eight hours per week in San Francisco and have been employed for at least 90 calendar days. Exempt employees …

https://www.epicbrokers.com/insights/compliance-alert-san-francisco-health-care-security-ordinance-top-off-payments-due-february-29/

Frenkel Benefits is Now EPIC

Thanks for visiting the blog at its new location! You can now find the FrenkelySpeaking blog here on EPIC Insights. First time reading the blog? Frenkel Benefits – an EPIC Company, one of the top 20 largest insurance firms in the New York City area, was acquired by EPIC Insurance Brokers & Consultants in 2017. The FrenkelySpeaking blog began in 2011 and has been bringing our subscribers relevant insurance industry news and opinion every week. As the Frenkel brand makes its full transition to EPIC in 2020, that means EPIC is also launching more Insights content. Look out for new insightful and …

https://www.epicbrokers.com/insights/frenkel-benefits-is-now-epic/

EPIC Launches Cannabis Site Pollution Liability (CSPL) Insurance Program

… is legal for recreational and medical use, the new EPIC program is designed to provide coverage for a material gap in Commercial General Liability and Umbrella/Excess Liability policies for the cannabis industry, as these policies exclude losses resulting from pollution/pollutants on, at, under, or emanating from an insured location. The EPIC/Greyling Cannabis Site Pollution Liability (CSPL) insurance program protects growers, processors and retail dispensaries from claims alleging third party bodily injury and property damage liability claims as well as corrective action costs (investigation/cleanup costs) at or from an insured site. The program is competitively priced, with …

https://www.epicbrokers.com/insights/epic-launches-cannabis-site-pollution-liability-cspl-insurance-program/

Compliance Alert: IRS Issues Proposed Regulations Clarifying Individual Coverage HRA Affordability

… applicable age for the plan year is the employee’s age on the first day of the plan year. For an employee who becomes eligible for an ICHRA during the plan year, the employee’s applicable age for the remainder of the plan year is the employee’s age on the date the employee’s ICHRA becomes effective. An employee’s applicable location is where the employee resides for the calendar month, or, if an ALE applies the location safe harbor discussed below, the employee’s primary site of employment for the calendar month. An ALE may use the Silver

https://www.epicbrokers.com/insights/compliance-alert-irs-issues-proposed-regulations-clarifying-individual-coverage-hra-affordability/

Policy Response Unit

… Review and audit of various program structures; and Present coverage features and rationales to clients’ boards of directors POST-LOSS Assisting in reporting claims and potential claims; Advising clients on defense counsel options, best practices and defense counsel performance and negotiating insurer approval of defense panel selections; Travelling to loss location where feasible; Notifying and coordinating with pre-selected vendors; Coordinating and negotiating all aspects of the claim through settlement; Overseeing expense approval / payment while addressing contested cost issues; Sophisticated analysis of carrier reservation of rights and/or coverage denials; Advocating client claim interests in connection with coverage issues; Facilitating …

https://www.epicbrokers.com/products/policy-response-unit/