Bryant Goodreau’s Post

Been following this topic for a while, as "Noncompetes" were once very prevalent in the insurance industry. From the FTC Fact Sheet: The final rule differs from the proposed rule in several respects. For example: o The rule does not ban existing noncompetes with senior executives. o The rule simplifies the notice and compliance requirements for employers. o The rule expands the sale of business exception. #insuranceindustry

Brian Ambrosia provides a valuable overview of the FTC's non-compete rule and its impact on insurance distribution M&A and employment agreements. If you're in the insurance brokerage industry, this is a must-read. Check it out! #insurancebroker #noncompete #employmentagreements

Even when taking measures to avoid them, workers' compensation claims do happen. When they do, they can be costly and difficult to navigate. West Bend Insurance Company put together some helpful strategies for employers to use after a claim occurs to help get the best outcomes. Check them out below!

Non-compliance with Workers' Compensation legislation can have serious financial consequences for your business. Workers' Compensation is a statutory insurance, and fines for non-compliance or failure to provide required information can be significant, making it essential for business owners to stay informed and ensure they meet their obligations. And if you’re working with contractors or subcontractors, it’s equally important to check that they have their own workers’ compensation in place before entering into any contracts. Ensuring compliance on both sides can reduce the risk of penalties and provide peace of mind. At Mason Gray Insurance Brokers, we’re here to help you navigate your Workers' Compensation needs and ensure you have the right cover in place. The last thing you want during a claim is to find that your policy falls short. We work to find the right insurance solution, so you’re prepared for whatever comes your way. #workerscompensation #compliance #businessinsurance #workersafety #insurancebrokers #riskmanagement #legalcompliance #businesssupport

Lot of questions. Here are the answers:

The National Council on Compensation Insurance (NCCI) recently shared insights from their Annual Symposium, revealing that Workers' Comp remains highly profitable with a Combined Ratio of 86%. This marks a significant milestone after a decade since the ratio was last over 100%, a truly unprecedented occurrence. The good news is that rates are expected to remain stable, barring changes in state laws or economic shocks. For business owners grappling with rising costs amid inflation, this development offers an opportunity to navigate these challenges. By assessing whether you might be overpaying for workers' compensation, you can potentially offset cost increases. If you're curious about optimizing your expenses without disrupting your current agent relationship, I'm here to chat.

Everybody in the life insurance industry should be talking about a new rule the federal government issued yesterday. No, I'm not talking about the DOL fiduciary rule. Rather, the FTC issued its final rule banning non-competes. If you follow Life Insurance Strategies Group and our This Week in Life Insurance series, you know this is something we have been talking about for well over a year. What's the tie between a ban on non-competes and life insurance? Well, without the stick of non-competes, employers will now need to use more carrots to keep key employees. One great carrot is deferred comp arrangements. And one great way to fund the liability created by deferred comp plans? Life insurance! (And if you aren't following LISG on LinkedIn, you should head over there and give it a follow now). https://lnkd.in/gBTX9xfb

Make sure you're asking your workers' compensation captive program the right questions! Our latest blog features 10 of these essential questions.

We'll give some examples of why Workers Compensation coverage is essential, how it protects your workers and your business future, and how Aegis Insurance & Financial Services can help you secure this important policy. https://lnkd.in/geGKWPWX

We'll give some examples of why Workers Compensation coverage is essential, how it protects your workers and your business future, and how Aegis Insurance & Financial Services can help you secure this important policy. https://lnkd.in/gUx79dsD