Skip to main content

SEARCH

Showing 573 results found

Understanding Your Workers’ Compensation Experience Modification Factor

Answers to Your Mod Factor Questions A key to understanding your workers’ compensation premium is the experience modification factor, also known as your mod. Understanding your company’s mod and the data used to obtain it helps you identify ways to minimize your workers’ compensation premium. Who calculates the mod factor? Most states use the National Council on Compensation Insurance (NCCI) to collect data and calculate the experience modification factor. The NCCI is a private corporation funded by member insurance companies. The remaining states either operate an independent workers’ compensation bureau or have set aside a state fund for workers …

https://www.epicbrokers.com/insights/understanding-your-workers-compensation-experience-modification-factor/

EPIC Adds Teddy Gillen to Healthcare Practice

… on reducing costs, mitigating risk, and improving patient care in the Healthcare industry. Gillen also held positions with Marsh USA, Inc., WS Pharr & Co., and Brown & Brown. “We are fortunate to have Teddy join our growing national healthcare practice. He brings a wealth of knowledge and expertise that will benefit our clients and our organization,” noted Matthew LeBlanc, Healthcare Practice Leader, East Region. Gillen will report to LeBlanc. Gillen earned a Bachelor of Business Administration from University of Georgia – Terry College of Business in Risk Management & Insurance. Gillen may be reached at or 404.550.5561.

https://www.epicbrokers.com/insights/epic-adds-teddy-gillen-healthcare-practice/

PPP Loan Insurance

PPP Loan Insurance The Paycheck Protection Program (PPP) provides a forgivable loan to small businesses to directly incentivize keeping workers on the payroll during the COVID-19 pandemic. The Small Business Administration (SBA) will forgive loan repayment so long as specific employee retention criteria are met and the funds are used for eligible expenses. In these precarious times, retention of PPP funds is critically important to its recipients. Unfortunately, with a new program comes uncertain regulation. The SBA audit window is six years. If deemed an ineligible recipient, the recipients of PPP loan proceeds may have to return the loan …

https://www.epicbrokers.com/insights/ppp-loan-insurance/

Surety State of the Union July 2020

… next 30 days. We can expect to see a rise in defaults on contract surety bonds because of this. However, the market for performance and payment bonds has remained strong since it is the largest annual surety demand by volume, and each project or contractor has their own level of risk and is judged individually. Contractors in the oil and gas space could have some jobs canceled entirely due to cutback, impacting future backlog. Surety capacity is still available to these contractors, but the job opportunities are likely to become more scarce. Those who bid more government work will find …

https://www.epicbrokers.com/insights/surety-state-of-the-union-july-2020/

Oak Hill Capital and The Carlyle Group Announce Formation of Galway Insurance Holdings

Investment firms Oak Hill Capital (Oak Hill) and The Carlyle Group (Carlyle) today announced the formation of Galway Insurance Holdings, a new holding company. Galway launches a new diversified brokerage distribution and underwriting platform on behalf of the Private Equity owners and their respective management teams and employee stakeholders. The foundation of the investment is via Oak Hill’s contribution of #14 ranked retail broker in the US, EPIC Brokers and Consultants into Galway, while Carlyle will contribute Specialty Distribution aggregator #8 ranked JenCap Holdings, a portfolio company of Carlyle Global Financial Services Partners II. The strategy is further amplified …

https://www.epicbrokers.com/insights/oak-hill-capital-the-carlyle-group-announce-formation-galway-insurance-holdings/

Cost Modeling Projections

Introduction The cost impact to the U.S. healthcare system by the COVID-19 pandemic has been estimated by reputable studies in a range of 6%-15% of U.S. healthcare spend in 2020. These studies are of special interest to self-insured employers, health plans, and reinsurers for pricing and planning purposes. An important feature of these models is that they do not attempt to quantify the behavioral changes of beneficiaries who are unable or unwilling to seek care during times of social distancing and hospital resource scarcity. EPIC calculates that in 2020, COVID costs for the U.S …

https://www.epicbrokers.com/insights/cost-modeling-projections/

How Will Commercial Property Insurance Policies Respond to Riot, Vandalism, and Civil Commotion?

Riot, civil commotion, and vandalism are commonly covered perils under commercial property policies. Damage to an insured’s building and personal property caused by these perils should be covered. Separate coverage for plate glass is generally also available and policies should be reviewed to confirm. Lost income due to civil unrest caused by “Civil Authority” or actual damage to covered property may be available to offset the financial loss caused by the civil unrest. In response to the recent unrest, the following policy terms should be reviewed: Civil disturbance: Also called “civil unrest,” this is a broad term encompassing any …

https://www.epicbrokers.com/insights/how-will-commercial-property-insurance-policies-respond/

OSHA Revises Guidance for Recording COVID-19 Cases

National Construction Practice Safety Alert Announced in a May 19 press release, the new enforcement policy overrides an April 10 guidance memo that required only employers in the healthcare industry, emergency response organizations and correctional institutions to make work-related determinations of COVID-19 cases. All other employers were exempt except in cases in which “objective evidence” existed that a COVID-19 infection was work-related or the evidence was “reasonably available” to the employer. The memorandum for regional administrators and state plan designees provides updated interim guidance with respect to the recording of occupational illnesses, specifically cases of COVID …

https://www.epicbrokers.com/insights/osha-revises-guidance-for-recording-covid-19-cases/