Featuring authors from across our organization on various topics related to risk management and employee benefits, our blog is a great resource to help you stay informed.

Our Scott thought leaders provide content on a regular basis to elevate your thinking surrounding critical components of your company’s culture and overall performance.

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Amazon Launches “Amazon Pharmacy”, An Online Pharmacy Store Implications across the PBM industry

From bookstores to cloud computing, Amazon keeps us guessing which industry they will disrupt next.  Amazon had their sights set on disrupting the retail pharmacy industry starting with their 2018 acquisition of PillPack, a mail order pharmacy which provides customized “daily dispensing” packs for patients taking multiple medications. On November 17, 2020, Amazon announced it is entering the pharmacy space with two new pharmacy products:  Amazon Prime prescription savings benefit and Amazon Pharmacy.  Amazon Pharmacy will provide customers the ability to order prescriptions through their platform and obtain delivery within days.

This announcement comes as many states begin to reinstate COVID-19 restrictions and more Americans look to receiving their medications via mail to avoid exposure. While this new offering provides consumers an additional access point to their medication, it is important to consider the implications across the pharmacy benefit industry.  Continue reading

2020 Presidential Election: Impacts on Employer-Sponsored Health Plans

With the major media organizations having now called the presidential election declaring former Vice President Joe Biden as the 46th President of the United States, we wanted to provide some forward-looking insights regarding the potential impacts to employer-sponsored health plans.

What does a Biden-Harris administration mean for employers and their employee benefits?

Although healthcare received an inordinate amount of attention during the Democratic primary and a good bit of discussion in the presidential debates, it isn’t on the list of the immediate priorities released by the Biden-Harris transition team over the weekend.  So, we don’t anticipate any immediate changes to the status quo.  Continue reading

How Insurance Carriers Use Crime Scores to Assess Risk in the Affordable Housing Industry

Many insurance carriers use third-party crime scores to evaluate their exposure to criminal risk when underwriting general liability insurance policies. At worst, a high crime score may preclude the owner of a multifamily housing complex from obtaining insurance coverage, and at best, a high crime score may result in higher premium costs. These underwriting practices are especially impactful to the affordable housing community because affordable housing may be in areas with higher crime scores when compared with traditional multifamily properties. Thus, affordable housing providers are highly likely to experience a loss of coverage or relatively high insurance premiums.  Continue reading

DOL Revises FFCRA Regulations in Response to Court Decision

The U.S. Department of Labor (DOL) has issued revisions to regulations that implement the paid sick leave and expanded family and medical leave provisions of the Families First Coronavirus Response Act (FFCRA). The revisions were issued in response to a New York federal court decision that struck down parts of the regulations. The revisions take effect Sept. 16, 2020.   Continue reading

LIHTC Recapture Bonds for Affordable Housing

There are many different uses for surety bonds in the Affordable Housing industry. In our surety practice, we work frequently with contractors and developers on LIHTC deals – from performance and payment bonds for the contractor to completion or “subdivision” bonds for the LIHTC developer.

LIHTC Recapture Bond

Recently, after noticing the growing need from clients and Affordable Housing leaders, we decided to develop a LIHTC Recapture Bond program. Disposing of or purchasing a LIHTC property prior to the end of the 15-year compliance period can be a significant challenge as many institutional tax credit investors are hesitant to allow a change in ownership during the tax credit compliance period. In the past, the IRS required a bond; while that requirement is no longer in place, many investors are requiring a surety bond or another form of collateral.  Seeing this need in the market, we have partnered with an international surety company to develop a proprietary surety product.  Continue reading