COVID-19 and insurance have been a hot topic since the pandemic began in the U.S. earlier this year. With no apparent signs of relief for the near future, individuals and businesses continue to face uncertainty about what the remainder of 2020 will be like for financial viability, health and safety, and insurance coverage.

When we take a look at COVID-19 and insurance, many branches of insurance are affected. Health, auto, and business insurance, for example, have all been significantly impacted. Employee benefits have also been impacted, especially when considering what insurance rates and premiums will look like in 2021. The question for many businesses is whether insurance premiums will be affordable.

There are numerous types of insurance that individuals and businesses require. Some of the personal insurance options include auto, health, home, life insurance, and travel insurance. Business insurance options include commercial auto, general liability, property, business interruption, and worker’s compensation insurance. Employee benefits, including health, life, and disability, are also considerations for businesses. Regardless of the type of insurance required, you’re going to need to pay the price, or premium, for the insurance selected.

Although some organizations stay on top of HR audits, others appreciate their importance but fail to perform them. Organizations can fall short on conducting them due to a lack of time, resources, and HR expertise. Without these periodic, objective reviews of HR practices, policies, alignment with company culture, and strategic direction, the organization will suffer in the long run.

Regardless of the reason why you need it, purchasing insurance can cause feelings of anxiety and dread. Buying the right type and level of coverage for you and your business requires a lot of time and resources. You want to ensure that you’re purchasing the right coverage to mitigate risks and provide financial security. If you’re looking for employee benefits, you also have the challenge of balancing the needs and requests of your employees with the needs and budget of the business.

Securing insurance takes time and resources. Because each individual, family, and business has a unique set of risks, there is no such thing as a “one-size-fits-all” policy, regardless of the type of policy you’re seeking. Insurance brokers provide the expertise required to help individuals and businesses secure insurance policies to meet a wide array of needs.

Insurance brokers and agents act as intermediaries between insurance companies selling insurance and consumers seeking to purchase insurance. There are several insurance options and insurance organizations from which to choose. Brokers and agents help navigate the many choices of insurance available to meet the needs of their clients at a fair price. If you’re in the market for personal or business insurance, you might be wondering what the differences are between an insurance agent and an insurance broker.  

Health insurance is one of the top benefits that employers can offer to employees. Providing health insurance to employees requires employers to stay on top of the ever-changing legal landscape focused on employer benefits. Do you know both the current and new federal and California health insurance regulations for 2020? In the content below, we explore how this year's health insurance regulations impact employers and employees.

One of the first considerations for candidates when evaluating job prospects is the company's employee benefits. Medical expenses can be costly, and employees want to know that they and their families will be taken care of if medical needs arise. Many employees would even consider a job with lower pay for a job with better health benefits, as 88% of the respondents in a 2,000-person study by research firm Fractl indicated. Offering healthcare benefits is essential for employers to attract, hire, and retain top talent. 

Trying to decide which of the many employer-sponsored benefits out there to offer employees can leave an employer feeling lost in a confusing bowl of alphabet soup—HSA? FSA? DCAP? HRA? What does it mean if a benefit is “limited” or “post-deductible”? Which one is use-it-or-lose-it? Which one has a rollover? What are the limits on each benefit?—and so on.