Kibble & Prentice Insider

Important Changes to the ACORD™ Certificate of Insurance Form 25

Certificates of Insurance are an important tool in business transactions, and millions of certificates are issued annually to evidence compliance with contractual insurance requirements and to meet other information needs of business counterparties. To the extent you or your counterparties rely on Certificates of Insurance, it is essential that you understand the impact of ACORD™'s recent changes. Full Article

"Red Flag" Rules-Is Your Company Prepared?

The "Red Flags" Rule, in effect since January 1, 2008, requires many businesses and organizations to implement a written Identity Theft Prevention Program designed to detect the warning signs—or "red flags"—of identity theft in their day to day operations. The Federal Trade Commission's deadline for compliance is December 31, 2010. Full Details

Protection for Nonprofit Organizations: Liabilities for the Board of Directors

Nonprofit organizations provide essential social services that benefit communities and their members. These organizations cannot survive without a solid volunteer Board of Directors assigned to elect officers, adopt policies and make major financial decisions for the organization. Although the members of the board are volunteers, there is a certain amount of risk involved in holding one of these positions. Specifically, even when acting in good faith, board members are subject to personal liability, which may affect their personal financial status because of their business decisions. Full Article

Section 105(h) – Application to Insured Plans

Under the Patient Protection and Affordable Care Act (PPACA), a non-grandfathered insured group health plan will be required to satisfy the nondiscrimination requirements under Internal Revenue Code (Code) Section 105(h)(2), effective for the first plan year that begins on or after September 23, 2010.

While no guidance on this requirement has been issued, the statutory language does state that "rules similar to" the rules contained in Code Section 105(h) will apply to non-grandfathered group health plans. It is not clear whether this "similar to" language will result in a different application of Section 105(h) than what currently applies. The information in this summary assumes the same rules that exist under Section 105(h) today will apply to insured plans. However, the information contained in this summary is subject to change once regulations are issued. Full Article

Health Care Reform Update: Regulations Issued Addressing Claims and Appeals Procedures

The Departments of Labor, the Treasury and Health and Human Services issued an interim final rule for group health plans and health insurance carriers relating to internal claims and appeals procedures and external review processes under the Patient Protection and Affordable Care Act (PPACA). Full Article

Further Guidance from HHS on the Early Retiree Reinsurance Program

The Department of Health and Human Services (HHS) established a new website for the Early Retiree Reinsurance Program (ERRP). The website provides helpful information on the program and application process as well as frequently asked questions. Full Article