In this CompDoctor article, Jim Fox and Bruce Lawson answer the following question about defining minimum qualifications in job descriptions: As requested by HR, I recently filled out a position questionnaire for my job that asked me to state my thoughts regarding the necessary qualifications to do my job. Although I indicated that a college degree (which I worked hard to obtain myself) is necessary, the updated job description that was eventually posted indicated that only a high school diploma is the minimum qualification. Why is the job description for my job dumbed down in terms of required education.
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In late 2016, the DOL issued final rules updating existing ERISA claims and appeals procedures for employee benefit plans providing disability benefits. The final rules apply to all claims for disability benefits filed on or after January 18, 2018.
Commercial Crime insurance renewal premiums were “stable” (+/- a few percentage points) in the first three quarters of 2016. Internal distractions within two of our top-ten fidelity insurers (the Ace/Chubb merger and AIG’s fidelity restructuring) diminished the level of competition in 2016, and we expect this to continue into 2017.
With a relatively static – albeit heightened – claims environment and a corresponding pipeline of open claims, many insurers are seeking rate increases for Employment Practices Liability (EPL) insurance coverage. However, newer entrants into the market over the past three to five years have led to a stable market.
Consolidation of independent broker-dealer firms and preparation for the “Fiduciary Rule” are two pressing issues impacting the retail investment industry. Last year, the retail investment industry experienced major change.
Financial Institution Bond insurance renewal premiums fell within a “stable” range (+/- a few percentage points) in 2016. Internal distractions within three of our top-ten financial fidelity insurers (Ace/Chubb merger, AIG’s fidelity restructuring and Zurich’s diversified financial restructuring) diminished the level of competition in 2016, and we expect this lackluster competition to continue into 2017.
The Management Liability insurance marketplace for Banks remained highly competitive throughout 2016, largely due to an abundance of underwriting capacity fostering competition among insurers.
Perhaps no single event in modern U.S. history may have a greater impact on the U.S. healthcare sector than the 2016 Presidential Election. Do the results of the election indicate a mandate to repeal and replace the Affordable Care Act (ACA)?
As the U.S. economy continues to recover, so too have the businesses of most of our private and nonprofit clients. As a result, D&O markets generally have seen marginal rate changes from -1% to 2%, whereas previous rate increases ranged from 0% to 5% when there was no change in financial condition, exposures or losses.
As 2017 begins, the global environment for ‘change’ seems to be everywhere on a geo-political basis, the likes of which we have not witnessed in quite some time. With this uncertainty, hard assets tend to be viewed as a safe haven and certainly the real estate market has benefitted from the current environment.