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Business Management

Temporary Rules for FSAs

Unlike the first coronavirus relief legislation, the CARES Act, the new bill signed into law on December 27 includes not only stimulus payments to offset the effects of the pandemic but general funding for the federal government for the coming fiscal year. Hence its name: The Consolidated Appropriations Act. In addition to the hotly debated…

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The Hard Market: What Can You Do?

In a previous post we covered the factors leading to the current ‘hard market’ in the insurance industry (read it here). Essentially, this year has seen an overall tightening of the market, with premiums going up and insurers less willing to take on new risks. The factors resulting in the current state of affairs are…

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WHY is it a “Hard Market”?

By now you might have heard that in the always cyclical insurance industry, this year has marked the return of a ‘hard market.’ Also called a seller’s market, a hard market essentially boils down to a more difficult proposition for insureds: premiums are higher, underwriters have less appetite for taking on new risks, and there’s…

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Cybercrime and Your Benefits Plan

With cybercrime front and center in the news again thanks to the ransomware attack that closed Baltimore County’s public schools, it’s a good time to take a new look at the risks and how to mitigate them. While many organizations focus their attention on their operational data – and rightly so – there’s another very…

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E-Sign of the Times: Signature Scams

This year has seen many changes to the technology we use to stay connected, as so many have had to work from home. Zoom meetings have replaced conference room gatherings, companies have scrambled to get employees connected from home … and every single change has presented new opportunities for hackers and phishers. Now joining that…

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HSA, FSA and Retirement Plan Limits for 2021

It’s the season when health care and retirement plans are re-evaluated, and as usual there are changes in the wind as the New Year approaches. Here’s a look at what the IRS has announced about revisions to plan limits in 2021, all effective as of January 1. HSAs/HDHPs: Health Savings Accounts and High Deductible Health…

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Pandemic Coverage Gap? We have an answer!

The tragic COVID-19 outbreak has highlighted the significant coverage gap that traditional insurance has not been able to solve:  non-damage business interruption as a result of an epidemic.  Most standard property damage policies require business interruption to be from physical damage and also typically exclude communicable diseases. To close this coverage gap, we have partnered…

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Making Your Day Easier with our Client Portal!

At Consolidated Insurance, our belief has always been that we best serve our clients as not just a broker, but as a partner in helping their businesses better manage their risk. To that end, we’re proud to re-introduce the HR and Compliance Client Portal (formerly MyWave Connect), a time-saving online resource that puts clients in…

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Back to School for Consolidated too…Virtually!

Over 80% of the insurance-licensed staff here at Consolidated hold at least one insurance designation, and many hold more than one. From well-known certifications like CIC (Certified Insurance Counselor), ACSR (Accredited Customer Service Representative), CLCS (Commercial Lines Coverage Specialist), CAWC (Certified Authority on Workers’ Compensation), CISR (Certified Insurance Service Representative), and AAI (Accredited Advisor in …

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Workplace Laws and Coronavirus: What’s Changed?

The employment benefits landscape has changed significantly in 2020, not only in the form of actual coronavirus cases but in large numbers of people working from home. How does this new scenario affect federal employment laws? The Department of Labor has released additional guidance in the form of questions and answers appended to sets of…

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