April 2, 2014, marks the 10^th anniversary of National Employee Benefits Day. Although it may not be as widely recognized as other holidays, the International Foundation of Employee Benefit Plans created this holiday to celebrate one of the most dynamic portions of the employee-employer relationship.

More businesses are shifting technology from standard desktops to tablets and smartphones. This means sensitive data stored on mobile devices. Unfortunately, the uptick in digital storage comes at a time when malware and phishing schemes are rampant.

After being away from my blogging desk for the last several months doing what accountants do this time of year, I’m ready to get back on my keyboard to continue my mission of singing the praises of Employee Stock Ownership Plans in general, ours in particular.

Gibson’s employee stock ownership plan (the GESOP) definitely makes an impact on all of our employee-owners and our corporate culture. Culture is a tough thing to define – it’s kind of like when you find your soul mate, and you’re asked why you feel so strongly about that person. It’s often squishy and somewhat hard to label – but you know it when you feel it. Culture is the same way for me. I just know a positive culture when I see it – it just feels right.

Did you know that one of the most important factors that contributes to workplace safety is also one of the most overlooked? Housekeeping (yes, housekeeping!) is key to achieving and maintaining a spotless record of workplace safety.

The 2013 workers’ compensation insurance market shows a few emerging & concerning patterns. With costs increasing left, right and center it is looking like the workers’ compensation landscape will be a challenging one to navigate. All together, the outlook is rather bleak in some respects.

Rates

Rates are continuing to firm up. Generally they aren’t as flexible as they previously were and what’s more; it’s looking like they will remain fixed for a long time. Also the market is getting smaller and more competitive. These factors are making workers’ compensation insurance becomes a difficult market to be trading in.

Most people carry a risk in their pocket. That's right! Your cell phone may be a problem waiting to happen.

The property and casualty marketplace evolved favorably in 2013. According to the Insurance Services Office (ISO), despite persistently low interest rates undermining insurer investment returns over the past few years, the industry experienced an increase in underwriting profits in 2013, as follows:

It’s been a cold and snowy winter and the spring thaw will soon be upon us. We’ve had record snow accumulation, which could lead to flood issues in the near future. The National Weather Service is also predicting above average rainfall during the months of March through May.

A common question this time of year is whether you need a flood insurance policy? You don’t have to be in a designated flood zone area in order to purchase a flood policy. Water backup is not flood coverage, and flood is not a peril covered under most homeowners’ insurance policies.

When Health Care Reform takes effect, companies with more than 50 employees will either offer health care benefits or face penalties. And the choice isn’t as straightforward as it may sound. In many instances companies will save money by paying the fines rather than funding a health care plan. Others will lose money if they drop coverage.

Most employers would like to offer the benefit, but it needs to be truly affordable.

Life Insurance….you know it’s something you need, but it’s something that’s often put-off till later or never purchased at all.  When purchasing life insurance many questions come to mind.  Some of the most common questions are listed below:

What if I Don’t Die?

This is the most common question when buying term life insurance.  When the policy term is over, you get nothing if you’re still alive.  Most people are happy to still be alive, but others focus on the premiums that have disappeared.  Sometimes, this leads to people waiting till later in life to purchase a policy.  This can be risky because it means higher premiums, or the possibility that you are no longer insurable.  Most people are in need of life insurance while their family is young and they have financial obligations such as college education for their children, a mortgage, etc.

Some carriers offer a term policy with a return of premium option.  This policy returns all paid in premiums back to you, in one tax-free lump sum, if you are still alive at the end of the policy term.  It also offers a conversion option.  You can forego the lump sum and convert to a policy that will pay the death benefit to your beneficiary upon your death, without paying in any additional premiums.  The death benefit is lower than the original face value but still a great option, especially if you happen to be uninsurable at the end of your policy term.

If you want permanent life insurance coverage, which means the policy will pay the face value to your beneficiary upon your death, then you might want to consider whole life insurance.  This type of insurance is usually more costly than term insurance and depending on the payment plan you choose, you could end up paying premiums your entire life.