Background The construction industry has seen steady growth over the past few years, and so have the insurance specialists that serve this market. Construction spending in late 2015reached a new seven-year high and climbed at the fastest rate since 2006. While business is solid, new laws and regulations have made CEO’s & CFO’s in the...Read More
A captive insurer (or “captive”) is a special-purpose insurance company formed primarily to underwrite the risks of its parent or affiliated groups. It is quite similar to a traditional, commercial insurance company in that it is licensed as an insurance company, it sets insurance-premium rates for the risks it chooses to underwrite, writes policies for...Read More
Background Owners with substantial holdings of multi-family real estate properties struggle with deciding on what type and level of insurance coverage is appropriate. Oftentimes, commercial insurance is either expensive, requires significant deductibles and/or has a number of exclusions in the policy. As a result, the owner winds up “self-insuring” by default a number of risks...Read More
Background Companies in the food and beverage industry have historically operated in a fairly complex business and regulatory environment. In order to be viable, they manage a sophisticated supply chain while maintaining product integrity. Given the consumer nature, they’re operating under some onerous regulatory requirements. Traditional commercial insurance policies oftentimes do not cover all the...Read More
Risk Management Advisors, Inc. is proud to sponsor our friends at Norman Levin Racing on the NASCAR K&N Pro Series. In the month of March, driver Matt Levin did a great job on his California swing through Irwindale Motor Speedway and Kern County Speedway. We were thrilled to be able to host our friends and...Read More
Risk Management Advisors, Inc. is proud to announce the opening of our new location in Long Beach, California. Given our rapid growth, we have taken on more space at 444 W. Ocean Blvd, Suite 1250, Long Beach, CA 90802. Our staff is very excited to be working in this efficient and modern space. In order...Read More
On Friday December 18th Congress passed the ‘Tax Extenders Bill’ as part of the “Protecting Americans from Tax Hikes (PATH) Act of 2015”. On page 176 were new rules affecting small captive insurance companies. The language is complicated, but in summary: The new rules will be effective 1/1/2017 The 831(b) limit will be increased from...Read More
The Wage Parity Act places financial obligations on New York home healthcare companies that threaten the solvency of an entire industry. For example, a company with 1000 forty-hour work week employees could have a liability near $5,000,000 in 2015. While self-insured group medical has been attractive to the home healthcare industry, it may not conform...Read More
With the constantly changing insurance market, construction companies have become some of the most sophisticated insurance purchasers. The risk management department knows that every dollar saved in insurance can lead to a more competitive bid for their next project. Some states have adopted laws that allow workers compensation claims to attach to general liability policies....Read More
