In the second quarter, equity markets rallied, all major asset classes marched higher and REITS continued to surprise investors. The second quarter market review takes a closer look at performance during spring and early summer.
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Preview this month’s installment of Arthur J. Gallagher & Co.’s Pitfalls & Perils of 2014 focused on ten FMLA (Family and Medical Leave Act) issues impacting employers’ workforce planning needs now.
Health & Welfare - Critical Thinking: Employers Must Make Major Shift to Sustain Compensation and Benefits
AJG Health & Welfare’s Kent Lonsdale writes, “Many companies have been wrestling with their ability to sustain their compensation and benefit programs. The continual rise in healthcare spending has affected the bottom line of many companies and families…”
In the summer of 2014, the Southern District of New York decided that two seemingly related cases were, in fact, unrelated. Usually, this is good news for clients, as carriers often use the "related wrongful acts" or "related claims" language to exclude coverage. However, this time, it was bad news. How did the court reach this decision, and how did it ultimately impact the plaintiffs?
On June 20, the Department of Labor issued a Notice of Proposed Rulemaking to change the regulatory definition of marriage that applies to FMLA to look to the law of the jurisdiction in which the marriage was entered – the state of celebration. Our Technical Bulletin summarizes this proposed guidance.
This issue includes: Supreme Court Issues Hobby Lobby Decision and Rejects Contraceptive Mandate for Some Corporations Supreme Court Opinion in Hobby Lobby Eleventh U.S. Circuit Court of Appeals Opinion
On Wednesday, The Bureau of Economic Analysis released their third revision to the 1st quarter GDP estimate showing that the U.S. economy contracted at a rate of 2.9%, previously reported as a 1.0% drop. This is the biggest contraction the U.S. economy has seen in five years, since the 1st quarter of 2009. This revision also marks the biggest difference between second and third estimates since records began in 1976. Yet investors shrugged off this news, with markets showing broad gains for the day and nine out of 10 S&P sectors closing higher. So why do investors seem so optimistic?
This issue includes: Agencies Finalize Rules that Define How an Orientation Period Works with the 90-day Waiting Period HHS Finalizes Several SHOP Regulations Challenges to the Contraceptive Mandate Continue to Divide the Federal Courts Final Rules on Fixed Indemnity Plans as Excepted Benefits Clarifications to Marketplace Rules on Payment of Premiums and Special Enrollment Periods Expedited Process for Non-Formulary Drug Requests Required for the 2015 Plan Year Questions and Answers for Employers
On June 12, 2014, the House Financial Services Committee released a discussion draft of the Terrorism Risk Insurance Act Reform Act of 2014 (TRIA) and a potential extension for the TRIA coverage beyond its current expiration set for December 31, 2014. The report found that the GAO is not collecting enough data from insurers to determine whether the goals of the federal government’s terrorism insurance backstop program are being met. Without an extension, the Terrorism Risk Insurance Act (“TRIA”), initially enacted in 2002 following the events of September 11, 2001, and extended in 2005 and 2007, will expire.
Unemployment is coming down faster than its expectations, but the Fed still thinks low inflation can continue without raising rates. Some economists think the Fed is wrong about long-term unemployed coming off the bench to keep wage growth and inflation subdued.