As the novel coronavirus, COVID-19, has now been designated a pandemic by the World Health Organization and more than 1,200 cases have been confirmed in the United States, many employers are wondering how their property and casualty insurance policies will respond. Below are some general guidelines for the primary lines of insurance coverage: Continue reading
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As we begin a new decade, we are navigating an increasingly unpredictable insurance market and many businesses are facing significant pricing increases upon renewal. Our 2019-2020 Property & Casualty Market Outlook, which was released in June 2019, provided our reaction to market trends and some pricing expectations. With Q3 and Q4 now behind us, we thought it would be beneficial to share an update with new insights and observations to better prepare our clients for current pricing pressures and provide guidance for managing the net impact. Continue reading
In a year-end spending agreement, Congress has repealed the Cadillac Tax and the Health Insurance Tax, two taxes impacting employers that were included in the Affordable Care Act. This move equates to significant healthcare savings for employers and consumers alike. Continue reading
Yesterday the Fifth Circuit Court of Appeals agreed with an earlier district court ruling that the individual mandate of the Affordable Care Act (ACA) was unconstitutional without an accompanying tax penalty. They have now asked that district court to do additional analysis to determine if that mandate is “severable” from the rest of the ACA. This case will ultimately make its way to the Supreme Court where a final ruling will be made.
It is very important for Scott clients to note that while this ruling will garner a lot of attention, it doesn’t change anything related to the employer requirements associated with the ACA. All coverage requirements, notices and reporting for employers remain unchanged. Continue reading