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How employers can leverage kidnap and ransom insurance to protect employees

Higginbotham

Research from Control Risks shows that kidnap-for-ransom plots have been on the rise since 2019 and are expected to continue to increase in response to socioeconomic disparities and other factors. In 2019, the average demand was $259,913. How does kidnap ransom insurance coverage work? Ransom demands are also becoming larger.

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Premature Satisfaction of a Third-Party Lien

Workers' Compensation

Background On October 23, 2019, the defendant, Darshelle Joseph, was injured during the course of his employment with the plaintiff, New Jersey Transit Corp. (NJ There is no requirement the employer's lien must be paid following recovery from a third-party tortfeasor. NJ Transit).

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Our Take on the CVS Health Hubs Concept

Corporate Synergies

“Our Take” is Corporate Synergies commentary on employee benefits and insurance topics that are in the news. Since CVS announced its plans to buy insurance carrier Aetna in December 2017, many experts, including ours , speculated how the acquisition and other similar ones would change healthcare. But let’s not be naive.

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Texas Court Stresses Comp Carrier is Entitled to Full “First Money” in Worker’s Third-Party Tort Settlement

The Workcomp Writer

Texas Mutual, the workers’ compensation carrier for Stevenson’s employer, paid workers’ compensation benefits to and on behalf of Stevenson for his injuries. Insurance Co. 2019) (citing Tex. In January 2015, Stevenson sued his health care providers for negligence. 3d 650, 651 (Tex. Code Ann. §§ 417.001-.002)].

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Vendor Contracts – Beware of These Five Pitfalls in Employee Benefits Agreements

Griffin Benefits

This is particularly unfortunate given what's occurred over the last decade in the employer-sponsored group benefits space. the employer) while relieving the vendor from almost all meaningful liability. Upon pushback from an employer on a provision like this, a vendor may suggest a compromise in the form of making the provision mutual.

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June HR News Worth Review

Higginbotham

Employer Takeaway. Most employers have already been contacted by their carrier or third-party administrator (TPA) and will rely on their insurance carriers or TPAs to provide the MRFs. Still, these employers remain legally liable for compliance under the TiC Final Rules. Employer Takeaway.

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The Fair and Reasonable Renewal Rate: the Art of Carrier Negotiations

Corporate Synergies

Annual health insurance carrier negotiations doesn’t have to be a contact sport. During carrier negotiations, employers naturally seek the lowest rate increase, while carriers typically propose a high increase. Want to Tackle Rising Insurance Costs? © 2019 Corporate Synergies Group, LLC. As Seen In.