Over the last 40 years, the digital age has dawned, and profoundly changed the modern society. As a business that is concerned about risk management, staying on top of the emerging risks is a necessity, but the mind boggling speed of technological advancement has made this difficult. With a modern business relying so much on technology, it is then imperative that every effort is made to manage the risks of a digital age.

Health Care Reform continues to be a highly debated topic. A recent New York Times/CBS News poll stated that 47% of their respondents still oppose the law, while just 36 % approve. At this point the biggest issue is the confusing mix of messages that are found in the media, on the internet, discussed at the water coolers, and shared among all Americans.

Regardless of your expertise on the water, proper boating safety should be followed every time you hit the water. Be sure to review these boating safety tips with any passengers on board to ensure everyone’s wellbeing as well as reduce any risk to your insurance policy.

Compare a colonoscopy procedure from one provider to another and you probably won’t find much difference. Compare the costs between several different providers and the differences will surprise you!

According to a June 1, 2013 article in the NY Times, a comparison of colonoscopy charges revealed that the costs varied

Since most homeowners policies provide minimal jewelry coverage if your item is stolen, misplaced, or lost, and some policies even exclude coverage for misplacing or losing an item entirely, it is important to list valuable jewelry items separately on your homeowners policy or in some cases on a separate policy.  The most important reason to have jewelry appraised is to determine an adequate replacement value in the event of a loss. Over the years, the value of jewelry and gemstones have fluctuated greatly.

When we created our GESOP (Gibson Employee Stock Ownership Plan) at the end of 2010, we had several goals in mind:

The Indiana General Assembly passed and Gov. Pence has signed into law HB 1320, which introduces a fee schedule into Indiana’s workers’ compensation statute. Over 25 states have enacted fee schedule legislation since the mid-1990s to impose a limit or cap on medical reimbursement. Insurers generally favor fee schedules while medical providers generally oppose it. Indiana will now have a schedule set at 200% of Medicare reimbursement levels.

Prior to this passing, Indiana had relied on a “usual and customary” method, which had many pitfalls. Both the Workers’ Compensation Research Institute (WCRI) and theNational Council on Compensation Insurance (NCCI) have published studies showing how, overall, “usual and customary” states had higher comparable medical costs and higher rates of increases in cost.

The Indiana General Assembly passed and Gov. Pence has signed into law HB 1320, which introduces a fee schedule into Indiana’s workers’ compensation statute. Over 25 states have enacted fee schedule legislation since the mid-1990s to impose a limit or cap on medical reimbursement. Insurers generally favor fee schedules while medical providers generally oppose it. Indiana will now have a schedule set at 200% of Medicare reimbursement levels.

Prior to this passing, Indiana had relied on a “usual and customary” method, which had many pitfalls. Both the Workers’ Compensation Research Institute (WCRI) and theNational Council on Compensation Insurance (NCCI) have published studies showing how, overall, “usual and customary” states had higher comparable medical costs and higher rates of increases in cost.

1. Insurer investment returns

The financial crisis of 2008 caused insurers to write down their investment portfolios and reallocate seeking higher returns. However, with a prevalence of low-yielding investments, attractive returns were not possible. Furthermore, credit quality impaired insurer’s massive corporate bonds holdings. For insurers with an international footprint there was also the impact of the sovereign debt crisis in Europe and the drain on surplus caused by 2011 delivering one of the worst worldwide catastrophic loss years on record. Interest rates on 10-year treasury notes have been following a downward trend for over a decade and are now at all-time record lows. Since roughly 80% of the property-casualty industry’s bond/cash investments are in 10-year or shorter durations, most insurer portfolios will have low-yielding bonds for years to come. In addition, the recession reduced demand for workers’ comp (demand = payroll).

1. Insurer investment returns

The financial crisis of 2008 caused insurers to write down their investment portfolios and reallocate seeking higher returns. However, with a prevalence of low-yielding investments, attractive returns were not possible. Furthermore, credit quality impaired insurer’s massive corporate bonds holdings. For insurers with an international footprint there was also the impact of the sovereign debt crisis in Europe and the drain on surplus caused by 2011 delivering one of the worst worldwide catastrophic loss years on record. Interest rates on 10-year treasury notes have been following a downward trend for over a decade and are now at all-time record lows. Since roughly 80% of the property-casualty industry’s bond/cash investments are in 10-year or shorter durations, most insurer portfolios will have low-yielding bonds for years to come. In addition, the recession reduced demand for workers’ comp (demand = payroll).