Kibble & Prentice Insider

Brand Insurance Coverage

With the ubiquity of the Internet, and in particular the blogosphere, the time between a crisis and damage to a company’s reputation and brand can be measured in seconds. The speed and intensity of blowback today is unparalleled in the history of communications.

Kibble & Prentice’s brand insurance offering helps companies respond to crises that have the potential to damage their brand. Brand insurance provides the insured with access to capital specifically for resources such as crisis communications professionals, advertising and website design, that a company may deem necessary to address a brand risk event. For more information, contact your commercial insurance or risk management account executive.

“Follow Form” Policies May Not Follow Form

A March 29, 2010 federal court decision offers a cautionary tale for policy holders of directors & officers liability insurance: beware of unintended consequences of exclusions in follow-form excess policies. Full Article

Importance of Non Profit Directors & Officers Liability Protection

A non profit board may be subject to the same management liability exposures that are found in a private for-profit organization. Unfortunately, non profits do not purchase insurance coverage at the same rate as their for-profit counterparts. Directors and Officers Liability Insurance was created to protect individual directors and officers, employees and an organization from the allegations of a covered wrongful act. Full Article

Understanding the Employer Penalty Provisions Effective Jan. 1, 2014

As the various provisions of the health care reform legislation become codified into the existing statutory framework, we are able to get a more detailed understanding of their terms and of possible technical inconsistencies. A review of the statutory language relating to the penalties that will begin to apply in 2014 to large employers when full-time employees receive government assistance to purchase insurance coverage through an Exchange is a case in point. Full Article

5500 Electronic Filing – Common Errors

Whether electronically filing through the EFAST2 site’s “IFILE” option or transmitting your Form 5500 via third-party software, there are many possible errors that you may see. It will be important when filing the electronic 5500 this year to note any errors you receive and let the party assisting you in this process know of the issue and provide a resolution. Full Article

Another COBRA Subsidy Extension

On April 15, 2010, the President signed into law the Continuing Extension Act of 2010 (the Act) providing for another extension of unemployment benefits, including a two-month extension of the eligibility period for the COBRA subsidy through May 31, 2010. Full Article

Over the Counter Drug Update

Effective January 1, 2011, over-the-counter drugs and medicines such as Tylenol, Benadryl and Claritin will not be eligible for reimbursement from health FSAs, HSAs, Archer MSAs or HRAs, unless prescribed by a doctor. Full Article

Small Business Health Care Tax Credit

The 2010 Health Care Act establishes a two phase “Small Business Health Care Tax Credit” (“HCTC”). The HCTC is available to all employers with fewer than 25 full-time employees and with average annual wages of less than $50,000. Special rules apply to tax-exempt employers. Full Article

Health Care Reform Timeline for Employer Compliance

This timeline provides some of the key dates associated with the recently enacted health care reform legislation. Full Article

UnitedHealthcare and Evergreen Hospital Medical Center Negotiations Continue

Evergreen Hospital Medical Center and UnitedHealthcare have agreed to extend their contract through May 31, 2010 while they continue negotiations on a long-term agreement. The network participating status applies to UnitedHealthcare, PacifiCare, Secure Horizons and Evercare products.

Group Health – Pre-Authorization for High End Radiology

Group Health, like many other carriers, is implementing a pre-authorization program for all high end radiology (MRI, MRA, CT). Group Health contracts will require pre-authorization if these tests are ordered during an office visit, or if services are scheduled with a provider who is not contracted with Group Health (such as First Choice, Beech Street, or other non-contracted providers.) If pre-authorization is not obtained, members will be responsible for the full cost of the test. The new requirement will apply to groups as they renew their contracts in 2010.