
…It sure does.
From our family to yours, have a special Christmas today and we hope joy, happiness and laughter chases you down throughout the weekend.
Love from our clan(s) to yours – Merry Christmas.
Published by Paul Hughes on December 25, 2020
…It sure does.
From our family to yours, have a special Christmas today and we hope joy, happiness and laughter chases you down throughout the weekend.
Love from our clan(s) to yours – Merry Christmas.
Published by Sharlie Reynolds on December 23, 2020
Congrats to our friends at Sunz!!
Bradenton, Fla. (Dec. 23, 2020) – SUNZ Holdings, LLC (“SUNZ”) announced today that funds managed by Blackstone Tactical Opportunities (“Blackstone”) have acquired a significant stake in the company to help fuel SUNZ’s continued expansion. Terms of the transaction were not disclosed.
SUNZ is a leading provider of workers compensation insurance and related services such as policy administration, claims administration and customer support. SUNZ delivers technologically advanced solutions for its customers – with a specialized focus on risk sharing programs for Professional Employer Organizations, staffing companies and large organizations.
Menes Chee, a Senior Managing Director at Blackstone, said, “SUNZ is exceptionally well positioned for future growth. Blackstone is excited to partner with their first-rate management team to help the company continue to expand into new markets and verticals so it can best serve its customers.”
Steve Herrig, CEO of SUNZ, said, “This partnership should propel SUNZ to a new level by enabling us to pursue new market opportunities and expand our national footprint. We look forward to a synergistic collaboration with Blackstone and to further accelerating the expansion of our specialized programs.”
About SUNZ Holdings, LLC
SUNZ Holdings, LLC is the parent company of SUNZ Insurance, a national workers’ compensation
insurance company headquartered in Bradenton, Florida. SUNZ Insurance develops unique workers’ compensation programs that deliver innovative and tailored solutions to protect businesses and their employees. SUNZ understands its clients need for fluidity, offering workers’ compensation insurance options that do not begin and end with the printed policy. SUNZ believes that a safe work environment and healthy workforce is the foundation for a successful business. There are several affiliate companies within the SUNZ Holdings enterprise that provide related and ancillary services to the workers compensation insurance industry. These companies include Next Level Administrators, WatchPoint, Avalon Subrogation Partners, and Ascential Care Partners. For more information, visit www.sunzinsurance.com.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long- term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $584 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Tactical Opportunities
Tactical Opportunities (Tac Opps) is Blackstone’s opportunistic investment platform. The Tac Opps team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities. As part of the strategy, the team leverages the intellectual capital across Blackstone’s various businesses while continuously optimizing its approach in the face of ever-changing market conditions.
Contacts
Blackstone
Matt Anderson
+1-212-390-2472 matthew.anderson@blackstone.com ###
Published by Angela Slaney on December 23, 2020
Our friends at NAPEO are always keeping us up to date with pertinent information impacting PEOs and Small Businesses. They released the following yesterday related to the COVID-19 Relief Bill.
COVID-19 Relief Bill: What It Means for PEOs & Small Business |
Yesterday, the House passed an omnibus spending bill that included $1.4 trillion to fund the federal government and $900 billion of additional COVID relief by a vote of 399-53. The Senate then passed the legislation by a vote of 92-6. The bill now heads to the White House, where President Trump is expected to sign it.
Tax Provisions
The omnibus spending bill – which is almost 5,600 pages long – contained many tax provisions that impact PEOs. Randy Hardock and Courtney Zinter of Davis & Harman (NAPEO’s outside tax counsel) have prepared a document containing the details of these provisions and how they apply to PEOs.
Specific tax provisions of interest to PEOs include:
Paycheck Protection Program and Other Small Business Assistance
In addition to the tax provisions, the COVID-19 relief portion of this legislation contains additional assistance for small businesses, which NAPEO has been lobbying Congress in support of. Specifically, it contains the following provisions designed to assist small businesses:
Details on these provisions can be found on this document provided by the Community Banker’s Association.
Unemployment Insurance
The COVID-19 relief provisions also make the following changes to unemployment insurance:
No federal money was provided to shore up the short falls in state unemployment funds.
Miscellaneous Provisions
The omnibus spending bill contained so-called “tax extenders,” which are temporary provisions in the tax code that are designed to support specific economic activities. There are two provisions of interest to PEOs that have been extended for five years. They are:
For more information visit NAPEO’s COVID-19 Resource Center or contact Thom Stohler.
NAPEO is offering a webinar on this bill and the impacts for PEOs and their clients on January 8th at 2pm EST. Not a Member of NAPEO? Find out how to join here.
Looking for a PEO or have questions on whether or not a PEO is right for you; visit our site at Libertate Insurance and get the questions you have answered.
Published by Angela Slaney on December 18, 2020
Some important trends that are threatening our businesses and ways to protect yourself. |
How to Avoid Electronic Signing Service Scams
Although utilizing an electronic signing service can be a convenient way for your organization to digitally sign and exchange important documents (e.g., contracts, tax documents and legal materials) with stakeholders, doing so also carries significant cybersecurity risks.
Cybercriminals can utilize a variety of scamming techniques to trick electronic signing service users into sharing sensitive information, such as their signature, financial information and other personal data. From there, the criminals can use that information for a range of destructive purposes—including identity theft and other costly forms of fraud. These scams have become an increasingly prevalent threat in the midst of the ongoing COVID-19 pandemic, as many organizations have transitioned to fully remote operations.
In fact, DocuSign—a popular electronic signing service provider—recently released a statement regarding several new phishing scams that cybercriminals have implemented to fool victims into thinking they are using DocuSign’s services. These scams entail the victim receiving a fraudulent email that appears to be from DocuSign, urging them to either click on a malicious link (which then downloads malware on the individual’s device) or provide their personal information (which scammers then access to commit fraud).
Whether your organization uses DocuSign or a different electronic signing service, it’s important to educate yourself and your stakeholders—including employees, investors, customers and suppliers—on how to detect and avoid falling victim to these phishing scams. That being said, consider the following cybersecurity tips:
Cybersecurity Trends to Prepare for in 2021
This past year saw a wide range of changes and advancements in workplace technology utilization for organizations of varying sectors and sizes. But as digital offerings continue to evolve, so do cybersecurity threats. That’s why it’s crucial to remain up-to-date on the latest technology trends and adjust your cyber risk management strategies accordingly. As your organization starts to prepare for 2021, keep the following emerging cybersecurity concerns in mind:
With these trends in mind, it’s important now more than ever for your organization to secure adequate cyber insurance. Otherwise, you run the risk of your organization lacking the appropriate coverage and dealing with hefty out-of-pocket costs in the event of a cyber incident.
Smart Device Security Best Practices
As remote work continues to be a popular offering for many organizations, some employees have begun taking advantage of their own smart devices—such as smartphones or tablets—for work-related purposes.
While this practice can certainly help employees expand their remote work capabilities, utilizing smart devices within a work setting can lead to elevated cybersecurity risks. This is because your employees’ smart devices may not be initially equipped with the security measures necessary to defend against cybercriminals, thus increasing the likelihood of a cyberattack taking place.
Don’t let employees’ smart devices lead to a cybersecurity disaster within your organization. Utilize the following guidance to promote smart device security:
Have employees conduct routine software updates on their smart devices to prevent potential security gaps.
For additional cybersecurity guidance and coverage, contact Libertate Insurance today, we are offering Cybersecurity Programs.
Published by Reni Snider on December 11, 2020
Happy Friday everyone, and Happy Hanukkah to those of you who celebrate the Festival of Lights!
Two of the MGU (Managing General Underwriter) partners we work with have announced new carrier partnerships for 2021. Be sure to check out our post on this news via the below link.
MGU Updates: New Carrier Partners for 2021
Also, as we head into the Open Enrollment season for most employer sponsored benefits programs, be sure to check out our post on 2021 Employee Benefit Trends.
Stay safe and healthy this weekend!
Published by Jennifer Bush on December 9, 2020
Two of the MGU (Managing General Underwriter) partners we work with have announced new carrier partnerships for 2021. Read the exciting news below.
Method, a Managing General Underwriter wholly focused on Workers’ Compensation Insurance, has announced the addition of the Falls Lake National Insurance Company to its roster of carrier options.
Falls Lake is rated A XI (Excellent) by AM Best and covers 23 states mostly concentrated in the eastern half of the United States.
“We’re excited to partner with the great team at Falls Lake to dramatically expand options for our customers east of the Mississippi.” said Greg Donsbach, President of Method.
Falls Lake shares a similar, broad risk appetite to Method’s existing carriers, Incline Casualty and Service American Indemnity Company.
“Falls Lake is pleased to partner with Method for this new product which combines Method’s industry-leading claims management protocols with Falls Lakes’ risk-driven underwriting philosophies.” said Paul Kearns, Senior Vice President of Underwriting at Falls Lake.
FUBA Workers’ Comp now has underwriting authority with two insurance carriers that are rated A- (Excellent) by A.M. Best. Effective 1/1/21, Service Lloyds Insurance Company will become part of the FUBA family. Service Lloyds is a workers’ compensation specialist with almost four decades in the market.Â
New business with effective dates through 12/31/20 will continue to be placed with Lancer Indemnity Company and will stay with Lancer for the first policy term.Â
New business with effective dates of 1/1/21 and after will be placed with Service Lloyds.Â
As your clients’ policies come up for renewal, we will transfer them from Lancer Indemnity Company to Service Lloyds. No action is needed on your part; the transfer will be automatic and seamless. The Service Lloyds policies will replace the policies from Lancer, and your clients will keep the same policy number. Â
FUBA is pleased to be able to continue to offer stable and rated coverage to your small business clients.
Published by Angela Slaney on December 7, 2020
Our friends at NAPEO released trends to watch out for as reported by Employee Benefit News; highlights from the full article below.
Increasing Health Insurance Premiums Employers will likely start shopping and looking for more cost manageable healthcare plans as health insurance premiums are trending 54% increases over the past 11 years as reported by the Society for Human Resource Management (SHRM). SHRM also reported, “Employers expect a moderate health plan cost increase next year of 4.4 percent, on average, compared to this year, according to early results…”. The concern here is that this trend of continued increase is outpacing the consumer price index and wage growth.
Telehealth We have seen a large uptick in the push and use of telehealth with the COVID-19 pandemic. 2021 will continue to grow this field of medical care. Telehealth benefits have been able to provide medical coverage for acute, chronic, primary and specialty care.
Personalized Benefits Packages Companies may start offering more non-medical offerings for a more customized employee benefit packages. Packages will start with the basic health insurance and paid time off benefits and expand to include optional add-ons like pet insurance, short-term disability, access to legal services, whole or term life, hospital stay, accident insurance to mention a few.
Mental Health Employers are waking up to the mental health wellness of their employees and how it can be a direct impact o their organizations. Employers are educating themselves on reducing workplace stress. Many benefits package now include behavioral health with both onsite and virtual medical plans.
Not partnered with a PEO? Connect with us and let us know how we can help! Find out more on our website here.
Published by Michelle Ferrand on December 3, 2020
‘Tis the season for holiday planning. Yet, gatherings of families and friends, crowded parties and travel may put Americans at an increased risk for COVID-19. The Centers for Disease Control and Prevention (CDC) recommends that you carefully consider the spread risk of in-person holiday celebrations. Several factors contribute to COVID-19 spreading in group settings. Those include community spread of the coronavirus, event location, event duration, quantity of attendees and the locations where attendees are coming from. It’s also important to consider attendees’ behavior both prior to the gathering and during the celebration.
If you choose to attend an in-person event, consider the following tips prior to the gathering:
Consider the following tips from the CDC to reduce your risk of being exposed to, contracting or spreading COVID-19 during an in-person event:
If you want to celebrate the holidays as safely as possible this year, consider celebrating virtually or with members of your own household.
Food is part of holiday traditions, and your family likely looks forward to certain recipes. Luckily, there are some simple substitutes to make your favorite holiday recipes a bit healthier. Consider the following tips to transform your recipes without sacrificing flavor:
Get creative and experiment with other ways of creating healthy recipes for your most beloved holiday tradition.
To prevent dehydration, you need to consume adequate amounts of fluid. Dehydration can increase your risk of illnesses and cause health problems, such as fatigue and muscle weakness. According to new guidelines, men should get about 3.7 liters (15 ½ cups) of fluids each day, and women need about 2.7 liters (11 ½ cups). Remember that the water content of the foods you eat counts as well. You need to get enough water for your body to operate at its best. Make water your beverage of choice, and consider
these simple tips to help achieve your daily water intake:
Preparations
Preheat oven to 400 F. Coat the baking sheet with vegetable cooking spray. Wash the squash. Cut it in half lengthwise and remove the seeds. Cut the squash into ½-inch slices. Place the squash on the baking sheet and sprinkle with salt. Melt the margarine on low heat in a small saucepan. Add brown sugar, cinnamon, nutmeg and ginger to the saucepan. Spread the margarine mix on the squash. Bake 20 to 25 minutes, or until tender.
Makes: 4 servings. Each serving provides 122 calories, 6 g of fat, 1 g of saturated fat, 1 g of protein, 91 mg of sodium, 19 g of carbohydrates, 7 g of total sugars and 2 g of fiber.
Source: U.S. Department of Agriculture (USDA)
Happy Holidays from Libertate Insurance Services!