One of the best benefits of insurance brokers is that they work for the consumer to procure insurance plans that meet their needs instead of insurance companies. Furthermore, brokers work with several insurance carriers, so they can shop around to find the best pricing and plans to meet the needs of a business and individual clients. They often receive broker discounts from insurance companies and, at times, can pass those savings on to the consumer.

Employee benefits are an essential part of any employee value proposition. Employers have continually used their comprehensive benefits plan to attract and retain top talent in competitive job markets for decades.

As we continue into Q1 of 2021, there is no question that 2020 was a year that will go down in history. Between the pandemic and natural disasters to the changing political landscape, we saw a shift in the benefits employees desired and needed.

Marijuana laws are changing quickly across the United States. Marijuana, also referred to as cannabis, reform was at the forefront of national and state legislative movements in 2020.

Understandably, confusion might surface as organizations attempt to keep up with the changing legal landscape of marijuana use while also maintaining a drug-free workplace policy. Employers face balancing workplace safety, meeting legal requirements, and administering a non-discriminatory drug use policy relating to marijuana use.

The costs and lost profits associated with a cyber incident or breach can result in a small to mid-sized business closing its doors. The average global cost of a data breach in 2019 was $3.92 million according to the 2019 Cost of a Data Breach Report. Therefore, cyber incident response plans are crucial for business continuity in today’s world of technology.

With the vulnerabilities of a mostly remote workforce due to COVID, cybersecurity needs to be assessed and ramped up to mitigate the increased risk. Part of the assessment and response to a remote workforce includes revamping cyber incident response plans to accommodate remote work environments.

Cyberattacks had already become an unwelcome norm for organizations before COVID-19. Per the Identity Theft Resource Center (ITRC), there were 780 breaches with 177,866,236 records exposed in 2015. Government, military, private business, educational, financial, and healthcare organizations were all impacted.

Accidental death and dismemberment (AD&D) insurance provides coverage for a family if the unthinkable occurs. If death or dismemberment due to an accident happens, AD&D insurance kicks in for the insured. However, there are some exclusions.

One of the top reasons for bankruptcy in the United States is unpaid medical bills. Medical costs are also one of the top stressors for Americans.

The medical insurance landscape looks a lot different today than it did two decades ago. At one point in time, quality, employer-backed medical insurance was a given. However, with the persistent rise in healthcare costs since the early 2000s, employers have had to reassess health insurance plans and determine what makes the most sense for both the business and employees. In some instances, employers have had to make the tough decision to cut back on the health insurance benefits offered.

Health insurance is an essential benefit that everyone needs. Medical bills are one of the top reasons individuals file for bankruptcy in the United States. The cost of healthcare is also one of the top stressors for Americans.

Health insurance provides financial security for illnesses, accidents, and injuries. Without medical insurance, individuals are often faced with letting their overall health go unchecked or face mounds of debt due to medical bills accumulated from catastrophic events or chronic illness.

Owning and operating a business requires the purchase of insurance to mitigate risks associated with potential losses. Examples of essential business policies are property insurance, professional liability insurance, and commercial auto insurance. However, another necessary insurance policy many business owners overlook is business interruption insurance.

Business interruption insurance helps a business stay afloat if a temporary closure occurs due to covered perils. Without business interruption insurance, a company forced to close temporarily due to something like a fire or a hurricane would face dealing with income losses out of pocket. Many small businesses do not have the financial resources available to support payroll and other operating expenses when there is a loss of income due to forced closure.