The societal understanding of what it means for an employer to be truly inclusive of all diversity groups has expanded exponentially since the turn of the 21st century. Employers are increasingly faced with multifaceted Human Resources related topics including cannabis, cybersecurity, sexual harassment, and a push, in many states, for equal opportunity for paid leave. Equal opportunity accommodations do not just vary between male and female employees but also between groups based on race, religion, and gender identity.
Gender identity itself varies extensively, but one concentration is the difference between individuals that identify as either cisgender (the same gender as their sex at birth) or non-cisgender (not the same gender as their sex at birth). The non-cisgender identity includes a wide umbrella of individuals who do not identify or present themselves with the sex they were assigned at birth, including transgender (not the same gender as their sex at birth) and non-binary (neither exclusively female or male) individuals. This particular group of individuals has historically faced major roadblocks in society and until recently, had not experienced inclusion and accommodations in the corporate world. Even with the progress that has been made, there is still a gap in today’s employee benefits environment for anyone deviating from “the norm”.
Fill out the form below for the full white paper, which covers:
- Unique challenges faced by LGBTQ employees and their employers, including leaves of absence and insurance coverage
- Terminology and proper usage
- Protective regulations, including a state-by-state analysis
- How to expand inclusivity to the LGBTQ population and tips for building a benefits program and culture that accommodates accordingly
What You Should Know
Recently, the Courts ruled that Syzygy Insurance Company (“Syzygy”), a micro captive created by Highland Tank & Manufacturing Co. and its Associates (“HT&A”) did not qualify as an 831(b) micro-captive entity between the years of 2009 and 2011. Federal courts have been especially assertive outlining bad fact patterns for certain captives, as seen in similar case results such as Avrahami v. Commissioner (“Avrahami”) and Reserve Mechanical Corp v. Commissioner (“Reserve”).
Understanding the criteria and results of these court rulings is imperative to ensure that your clients’ captives, or even your own, are appropriately managed and operated.
In this whitepaper, we outline an in-depth analysis of the court case and decision, and provide you with a checklist for ensuring compliance and validity for your captive, no matter its size. Download to learn more about:
- Circular flow of Funds
- Arm’s-Length Contract
- Valid and Binding Policies
and more, so that your captive isn’t the next one getting negative press!
Cell captives can help companies achieve a range of goals, and their use cases and utilization rates have been increasing in recent years. While more companies are adopting a cell captive structure, that doesn’t make them any less complicated. Accounting guidance and other regulatory factors often prohibit organizations from aligning the financial reporting of their cell captive with the corporate objectives of the entity.
In this whitepaper, co-authored by Karin Landry, Managing Partner of Spring and Josh Partlow, Partner at Johnson Lambert, will walk you through the evolution of cell captive structures, and provide guidance on financial reporting options and how to address GAAP guidance.
Download the white paper to get a brief history of cell captives, understand the different structures available, insight into the decision to consolidate or not, how variable interest entities come into play and more. We’ll use a sample balance sheet to illustrate these concepts.
The threat of a cyber attack seems to increase with each passing day. With every new technology and security measure developed, somehow hackers always seem at least a step ahead. On a personal level, it’s scary – the possibility of a stolen identity or a hacked bank account is enough to keep you awake at night. However at the corporate level, there’s even more at stake: national security, the safety and livelihood of customers and employees, etc.
We’ve all seen the headlines: Target, Yahoo!, Equifax, Verizon, and the list goes on. These companies made the news because they are large, global organizations with influence. However, it is not the size or scale of the companies that caused them to fall victim to cyber attacks. Gone are the days when tech firms were the only ones who really have to worry about hackers; the threat is very real for all kinds of organizations.
So as cyber attacks continue to grow in both frequency and impact, we wanted to ask our colleagues in Risk Management about their thoughts on cyber risk and insurance. Further, what does the commercial insurance market look like for cyber coverage? It is extensive? Are companies well protected? Are captives being utilized?
Through our proprietary survey and research, we uncovered some surprising insights on cyber risk and insurance. We can’t give it all away, but we can tell you that the commercial market for cyber insurance is new, imperfect and fluctuating, causing gaps in coverage for most organizations, some of which are questioning the validity of such a purchase. This creates an opportunity for captives in the cyber space, but you’ll have to fill out the form below to learn more.
The evolution of voluntary benefits – that is, those made available by employers but typically funded by employees – over the last five to ten years is truly significant. Once considered a burden that just wasn’t sought after enough by employees to be worth the effort, voluntary is now a critical component to many corporate benefits packages. It offers a win-win-win solution for employers, employees and vendors alike. It allows employees access to more customized products and services without the employer needing to shoulder the cost, in a time when rising healthcare costs are already keeping them up at night.
In this white paper, we’ll take a deep dive into this market shift and uncover the advantages of voluntary programs for all stakeholders. We’ll also share tips and best practices for getting started – or maintaining – your voluntary benefits program, as well as point out potential pitfalls of voluntary plans and how to avoid them. We’ll discuss things like plan design, workforce demographics, ERISA, program communications and other factors that come into play.
Whether you’re already offering voluntary benefits or are considering starting, you’ll want to read our advice and guidelines. We’ve been helping clients navigate these tricky waters for years, and have picked up quite a few tricks of the trade along the way! Fill out the form below for your copy of the white paper, “Voluntary Benefits: No Longer Voluntary for Employers.”
Healthcare reform, increasing costs, lazered coverage and leveraged trends are causing many employers to reconsider their stop-loss options. These include employers who are fully insured considering a move to self-insurance and current self-insured employers.
Healthcare reform mandates have led to many employers to review the cost of their medical insurance programs including funding alternatives and the need for additional stop-loss coverage. Deciding to insure medical stop-loss and fund it in a captive has proven to be a great way for employers who self-fund their health insurance to add a layer of protection from excessively high individual or aggregate health claims and meet ACA requirements.
Medical stop-loss insurance is not considered first dollar health insurance benefit and thus stop-loss captives are not subject to Department of Labor approval in the United States like many benefits are. Also, by funding stop-loss in a captive, an employer gains access to lower-cost reinsurance they might otherwise not be eligible for as a direct purchaser.
This white paper explains how medical stop-loss insurance captives work, the common types of medical stop-loss captives and who should consider one. We hope you find it helpful and enlightening. If you have any questions at all, please don’t hesitate to contact our captive consulting team. All of our contact information is listed on the final page or this paper.
To get your FREE copy of this white paper, please fill out the form below:
While they were once almost exclusively risk funding mechanisms for the largest of corporations, captives have evolved over the years and a suite of captive funding options have been developed to assist businesses of all sizes.
In this paper, we seek to educate you about captive insurance, the history, benefits and the options available to small and mid-sized companies. We will explain what a cell captive is and how it can be an excellent entry point for a company into captive insurance. Finally, we will explore the next steps for your business if you decide that captive funding of your company’s risk might be a good choice and would like to explore it further.
We hope you find this paper helpful and enlightening. If you have any questions at all, please don’t hesitate to contact our captive consulting team. All of our contact information is listed on the final page or this paper.
To get your FREE copy of this white paper, please fill out the form below:
Over the past two decades, the choice to fund a portion of a their risk in a captive has become a more and more popular one for business owners. Whether it be property and casualty risk or employee benefits, employers understand that this funding mechanism, once viewed as an option only for the largest of corporations, is now an option for companies of all sizes and industries.
There is much to be gained from captive risk funding. Some of the most notable and common benefits include:
- Potential short- and long-term savings
- Customized employee benefits designs and property & casualty programs
- Enterprise risk financing applications
- Potential financial efficients like cash flow and insurance
Spring’s captive insurance experts recently teamed up on a helpful new book about captive insurance. In “The Basics of Captives,” we have laid all the information an employer needs to know about captive insurance including:
- Why you would want to consider a captive
- What exactly a captive is
- What captives can cover
- What kind of captives are there and how do they work
- Where captives are domiciled
- How to know if a captive is right for your business
- How to go about establishing a captive
Spring’s award-winning captive team, lead by one of the industry’s top captive leaders, Karin Landry, have designed and built countless captives over the past 25 years including some of the world’s most innovative funding solutions. In this book, they share a little of their experience, along with some of the recent trends they are seeing, in hopes of helping even more businesses save money on and gain control of their risk programs.
To download a FREE copy of this Captive Insurance for Businesses book, just fill out the form below: