Chad Duke, Vice President/Risk Advisor, and Pim Jager, Vice President/Benefits Consultant, were recently featured on the ESOP Podcast discussing captive insurance and Scott Insurance’s collaboration with the National Center for Employee Ownership (NCEO) to create two new captive programs exclusively for ESOP companies, OWN Health (health insurance) and OWN Risk (property and casualty). Continue reading
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On May 18, 2021, the IRS issued Notice 2021-31, a guidance document on the American Rescue Plan Act (ARPA) subsidy for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). The Notice discusses the background of the subsidy and includes 86 questions and answers (Q&As) about its application. Continue reading
On April 7, 2021, the U.S. Department of Labor (DOL) issued FAQs and model notices for the COBRA premium assistance provisions of the American Rescue Plan Act …Continue Reading
Captive Insurance for the Affordable Housing Industry Uncovering the strategic benefits of a unique approach to risk financing
As Affordable Housing organizations face their annual insurance renewals, many have been surprised at the level of premium increases they are experiencing. Today’s challenging and volatile insurance market is having significant impacts across the industry and has led many forward-thinking industry leaders to consider alternative risk financing mechanisms, such as captives. While our Affordable Housing Team has received increasing questions about captives, this isn’t just anecdotal. According to industry trends, interest in captive insurance in the U.S. has risen greatly in the first quarter of 2021. So, if you aren’t already considering whether a captive might be a good fit for your organization, now may be a good time to begin the conversation. Continue reading