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Skinny Repeal Bill Fails in the Senate

Around 1:30 a.m. on Friday morning, in a surprising vote, Senator John McCain walked to the dais of the Senate and uttered one word, “No.” There were gasps on the Senate floor as Susan Collins (R-Maine) and Lisa Murkowski (R-Alaska) had already voted against the skinny repeal bill that had appeared to be gaining traction with GOP Senators. The plan was not to pass that particular bill as law, but to find the lowest common denominator that could be agreed upon and continue to work with the House GOP in conference to find something that could replace the Affordable Care Act (ACA). 

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Affordable Housing’s Economic Impact

The economic impact of affordable housing at the local level is significant. In fact, the development of affordable housing in communities has many short- and long-term economic benefits. This industry combines the investment potential of real estate development with the mission of helping low- and moderate-income individuals and families, while impacting the local economy through job creation and increased government revenue.

 Impact on Employment

One of the primary ways affordable housing positively impacts the economy is through direct and indirect job creation. In Virginia alone, it is estimated that from 1996-2016 266,135 short-term jobs and 10,245 long-term jobs were created due to affordable housing development, according to a report from the Virginia Housing Alliance. Another study released earlier this year, concluded that a total of 329,000 jobs were supported throughout New York State between 2011 and 2015 due to the construction or preservation of affordable housing units. 

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Senate Votes Yes on Motion to Proceed

This afternoon the Senate voted to move forward on debate of the healthcare bill. It’s important to note that this vote only allows the Senate to move …Continue Reading

Run-off Insurance A Necessity in Today's Market

Today’s merger and acquisition (M&A) landscape is hyper active. In 2016 alone, there were more than 12,000 M&A deals in the U.S. These opportunities often create significant financial opportunity for the purchasing and selling entities. Alternatively, during the same period corporate bankruptcies totaled over 46,000, revealing that many companies are facing significant difficulties.

Both M&A events and bankruptcies typically lead to significant changes in a company’s corporate structure, which in turn impacts the exposures faced by its directors and officers (D&O), and their respective insurers. So, how does a D&O policy respond to changes in the structure of a business? When should management consider run-off insurance for ongoing protection?  

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OSHA Electronic Reporting Delay

The OSHA electronic reporting rule requires certain establishments to report information electronically from their OSHA Forms 300, 300A and 301. The rule also requires OSHA to create a website that can be used to submit the required information. Under the rule, the first reports were due by July 1, 2017. 

However, on a recent update to its recordkeeping webpage, OSHA indicated that the Injury Tracking Application (ITA) website will not be ready to receive electronic workplace injury and illness reports until Aug. 1, 2017, and has proposed Dec. 1, 2017, as the new deadline.  

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