In what can only be described as good news for the captive insurance industry, the United States Supreme Court on May 4, 2020, agreed to hear an appeal in the CIC Services, LLC v. Internal Revenue Service case. To recap the procedural history of the case, CIC sued the IRS in 2017, after the IRS issued Notice 2016-66, identifying so-called … Read More
Homeowners Occupancy Explained
One of the most common misunderstandings found when working with agents and their buyer clients is how a new home will be used. While this might not seem important at the time of purchase, it can create major problems in the event of a claim if the property is not properly insured. Why Does It Matter? Simply put, insurance claims … Read More
Considerations for Self-Funded Health Plans in Light of the COVID-19 Crisis
The COVID-19 pandemic has caused a major disruption to the US economy. Businesses are struggling to cope. If your business has a self-funded health plan, here are some things that you need to think about: 1. Plan Amendments The recent legislation passed by Congress requires employers to cover the full cost of testing for the coronavirus. If your plan requires … Read More
What Does the CARES Act Say About “Balance Billing”?
What is Balance Billing? Everybody knows about “balance billing”, even if they have never heard the term. “Balance billing” refers to the bill that a patient gets from a medical provider for the difference between the provider’s charge and the amount paid by insurance. Whether a patient gets a bill and the amount of the bill may depend upon whether … Read More
3 Ways to Lower Your Carbon Footprint For Earth Day and Beyond
On April 22, the 50th annual Earth Day is expected to include more than 1 billion people in nearly 200 countries taking part in what the Earth Day Network calls “the largest civic-focused day of action in the world.” Since the first Earth Day in 1970 (which was connected to the passage of the Clean Air Act that year), there … Read More
Is a Captive Insurance Company the Solution to Business Interruption?
A restaurant in Washington, D.C. has joined the ranks of businesses suing their insurance company for coverage under a business interruption insurance policy as a result of the COVID-19 pandemic. The suit claims that the restaurant was forced to close after Washington, D.C.’s mayor issued an order barring sit-down service, thereby limiting its business to take-out and delivery and eliminating … Read More