Category: Articles
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Cyber Insurance and Cybersecurity Policies and Procedures
A McGriff client recently asked us for a draft or recommendations of a Secrets Management Policy and a Vulnerability & Patch Management Policy. A Secrets Management Policy and a Vulnerability & Patch Management Policy are crucial for protecting an organization’s data and systems from various cyber threats. Understanding the importance of this request, we share…
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California Wildfires and Liability Risks for Utility Contractors
The recent devastation from the fires in Los Angeles, California, has spotlighted several issues – from risk mitigation and the adoption of stricter building codes to help minimize property loss to causation, negligence, and insurance. Among the issues being examined is the role of utility companies and wildfires. Lightning, arson, and utility lines are the…
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Construction Project Insurance Protection: A Guide to OCIPs and CCIPs
Insurance plays a vital role in managing the inherent risks associated with large-scale construction projects. One of the ways to manage the risk for a project is by the use of a Wrap-Up which is also known as a Controlled Insurance Program or CIP. A CIP is comprehensive insurance program that is designed to…
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Hop on the ‘Let’s Get Digital’ Soapbox
I’ve been on a “Let’s Get Digital” soapbox for delivering employee benefits communications for several years. Digital is more effective than print in SO many ways, many of which I will outline below. But first, let’s acknowledge that there is no surefire way for any organization to get employees to pay attention to and…
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Leveraging Artificial Intelligence in Predicting Future Medical Claim Costs: An Actuarial Perspective
In the realm of insurance, predicting future medical claim costs is pivotal for maintaining financial stability and offering competitive premiums. Traditionally, actuarial methods have been the backbone of this process, relying heavily on historical data and statistical models. However, the advent of artificial intelligence (AI) has revolutionized this landscape, offering unprecedented opportunities to enhance prediction…
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Silent Epidemic: The Crucial Role of Managing Chronic Conditions to Control Medical Claims Costs
In the ever-evolving landscape of healthcare, one key factor stands out as a linchpin in the pursuit of a healthier and more sustainable system: the effective management of chronic medical conditions. Chronic diseases, such as diabetes, hypertension, and heart disease, pose a significant challenge to both individuals and the broader healthcare space. Beyond their…
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Do I Really Need Employee Benefits Counsel?
When it comes to group health plans, many HR managers rely on their insurance broker and account teams to guide them through the complexities of regulatory requirements and best practices. While an insurance broker should provide valuable support and direction, an implicit (or sometimes explicit) question can arise when complex issues are encountered: “Do I…
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What to Look for in a TPA for Your Flexible Benefits and COBRA Administration
It may seem as if all third-party administrators (TPAs) are essentially the same, but, surprise, they aren’t! A flashy website can make a subpar TPA look and sound great, but what truly matters is how well the TPA does what it is entrusted to do. This article highlights important considerations beyond first appearances when selecting…
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Why You Should be Auditing Your Monthly Carrier Invoices: Bill Reconciliation from a Compliance Perspective
Have You Reviewed Your Bills Lately? While conversations about finances are always first on the agenda at annual renewal meetings, there are a variety of reasons why plan sponsors and HR should be paying attention to carrier invoices year-round. As a former account manager, I cannot count the number of times that a client who…
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Building a Culture of Wellness and Safety
It is not uncommon to hear that while many employers have both safety and wellness committees, they rarely interact with one another. Employees, managers, and leaders may inherently realize that there are benefits to combining safety and well-being efforts, and quite a bit of overlap, but they also may encounter difficulties when it comes to…