When the Consolidated Appropriations Act, 2021 (the “CAA”) was enacted on December 27, 2020, it included a provision that prohibits group health plans and health insurance carriers from entering into certain agreements that, either directly or indirectly, restrict the release of certain information related to provider networks and de-identified encounter data, among other things. Such […]
On September 9, 2024, the DOL, IRS, and HHS released a final rule for the Requirements Related to the Mental Health Parity and Addiction Equity Act (The “MHPAEA Final Rule”). The MHPAEA Final Rule is similar to the Proposed Rule released on July 25, 2023, with some marked differences. While the MHPAEA Final Rule is […]
On October 22, 2024, the Internal Revenue Service (IRS) released Revenue Procedure 2024-40, which increases the health flexible spending account (FSA) salary reduction contribution limit to $3,300 for plan years beginning in 2025, an increase of $100 from 2024. Thus, for health FSAs with a carryover feature, the maximum carryover amount is $660 (20% of […]
Employers are increasingly aware of the need to provide flexible and comprehensive health benefits to attract and retain top talent. While offering multiple health plan options may seem like an added expense, it can actually lead to significant cost savings for companies in the long run. By catering to the diverse needs of employees, employers […]
As a business executive, the decisions you make can significantly impact your company and stakeholders. In today’s increasingly litigious environment, even the most experienced professionals face legal risks that could potentially derail their careers. For executives, having the right professional liability coverage is crucial. This guide highlights key coverage details, industry-specific needs, and strategies to mitigate […]
The transportation industry is the backbone of commerce, moving goods across vast distances to ensure supply chains stay intact. If your business relies on a fleet of trucks, ensuring they are protected is very important to your bottom line. Commercial vehicle insurance helps you comply with legal requirements and safeguards your operations from financial pitfalls in case […]
The world of employee benefits can be both complex and overwhelming. With a myriad of options available, selecting the right insurance broker is crucial for creating a benefits program that not only attracts and retains top talent but also aligns with your organization’s goals. A proficient broker goes beyond merely selling insurance; they act as […]
Motorcycles are a popular mode of transportation, offering a thrilling and liberating experience. However, owning a motorcycle also comes with its share of risks. That’s where motorcycle insurance plays an important role in protecting you and your investment. While motorcycle insurance premiums can vary, there are several strategies you can employ to keep your costs down […]
While traditional insurance policies like home, auto, and life insurance are well-known, there are a plethora of other options that can provide valuable coverage for specific needs. These lesser-known policies can offer peace of mind and protection against unexpected events. Let’s explore some unique personal insurance options you might not have considered. Cyber Liability Insurance In […]
High-Deductible Health Plans (HDHPs) have gained traction among both employers and employees – do you want to know why? At a glance, these plans offer a unique blend of cost savings and incentives for proactive health management, making them an attractive option for those looking to balance healthcare expenses and coverage. However, that’s not all. […]
Businesses are increasingly leveraging data analytics to revolutionize their wellness programs and elevate population health management. By collaborating with employee benefits consultants, HR departments harness data-driven insights to understand employee health trends better, pinpoint potential risks, and craft tailored interventions that promote overall well-being. This proactive strategy allows HR teams to design more personalized and […]
Businesses seeking to enhance productivity, foster employee satisfaction, and manage healthcare costs effectively will find wellness programs to be a strategic and impactful solution. By focusing on the holistic well-being of employees—encompassing physical, mental, and emotional health—wellness programs create a healthier, more engaged workforce. Here are compelling reasons why integrating comprehensive wellness programs is essential […]
Many important HR compliance deadlines are approaching quickly. Your immediate attention is required to ensure compliance and avoid costly penalties. Act now to ensure your organization stays ahead of these regulatory obligations. Major Medicare Part D Changes Coming in 2025 Starting in 2025, Medicare Part D will introduce a new, enhanced benefit design that could […]
Understanding the environmental risks associated with construction and industrial operations is crucial for business owners in these sectors. The potential liabilities and financial consequences of pollution incidents can be severe, impacting the environment and your bottom line. This is where Pollution liability insurance, also commonly referred to as environmental insurance, becomes an essential part of […]
This alert is applicable to all large employers (ALEs) – generally, those with at least 50 full-time equivalent employees. The Internal Revenue Service (IRS) has released Rev. Proc. 2024-35, which contains the inflation adjusted amounts for 2025 used to determine whether employer-sponsored coverage is “affordable” for purposes of the Affordable Care Act’s (ACA) employer shared […]
When thinking about life insurance, the common image is a family needing financial protection in the event of an untimely death. However, life insurance is not solely the domain of those with dependents. Single individuals, too, have much to gain from the protection of a life insurance policy. Let’s explore why life insurance is essential for single […]
Smart homes are revolutionizing our lives, offering unparalleled convenience with connected devices like smart thermostats, security cameras, and voice assistants. However, with this advanced technology comes a growing concern: cyber threats. As we integrate more and more smart features into our homes, the risk of cyberattacks and identity theft increases. To ensure your home and […]
Financial stress is a significant concern for many employees in today’s challenging times. Addressing this issue is beneficial for the workforce and the organization alike. One effective way to enhance employee productivity and reduce turnover rates is by implementing a financial wellness program. Here are seven practical steps to boost employee financial wellness in your workplace: […]
Managing business insurance costs effectively starts with a proactive approach to risk management, especially during hard markets when premiums are rising and coverage options are limited. However, with a strategic approach, businesses can effectively manage and reduce insurance costs while ensuring optimal coverage. Here are ten strategies to help control business insurance costs: 1. Conduct […]
Tooher-Ferraris Insurance Group Ensures Comprehensive Protection and Peace of Mind for Affluent Homeowners Connecticut – 8/29/24: Tooher-Ferraris Insurance Group, a leading provider of comprehensive insurance solutions since 1932, is proud to announce the launch of its high-value home insurance solutions tailored specifically for luxury properties in Connecticut. Owing to their well-deserved reputation for being a trustworthy […]
With a commitment to delivering innovative insurance solutions, Tooher-Ferraris Insurance Group is redefining how companies manage risks associated with employment practices. Wilton, CT— 8/23/24: Tooher-Ferraris Insurance Group is proud to announce the expansion of its Employment Practices Liability Insurance (EPLI) offerings. This enhancement is part of Tooher-Ferraris’ commitment to providing comprehensive risk management solutions that meet […]
Inland marine insurance was previously used by those in the marine industry to protect against property losses before, during and after water transfers. As decades passed, cargoes started to be transferred on land, and thus, the term “inland marine” was coined. These policies became known as “floaters” because the property covered was originally “floating” in […]
Do you want to run your business stress-free? Maximize downtime protection with our comprehensive business income coverage!
Take your employee leave management to the next level with our comprehensive guide for HR professionals – read this post for everything you need to know!
Implement data-driven wellness programs and maximize the ROI on your population health management investments. Read more here!
Are you confused about the volatility in the auto insurance market? Don’t worry, you aren’t alone! Many consumers are puzzled by rising rates and uncertain about the best ways to secure coverage at a competitive rate. With premiums fluctuating dramatically, it’s essential to stay informed and proactive in managing your auto insurance needs. By understanding […]
Tooher-Ferraris Insurance Group has been at the forefront of offering innovative insurance protection tailored specifically for condominiums and associations. In our experience, one of the most important decisions condo boards make is choosing the right insurance program. If you’re struggling to manage your condominium association effectively, don’t worry—you aren’t alone. Self-managed boards are highly likely […]
Embracing the practice of benchmarking employee benefits is a strategic move for businesses. It helps maintain a competitive edge and ensures the satisfaction and retention of the workforce. With employee benefits constantly evolving, regular assessments that compare your offerings with those of national, regional, and local competitors are a surefire way to stay competitive, meet […]
HR compliance is more than just a legal obligation—it’s a strategic necessity that plays a pivotal role in an organization’s success and sustainability. Adhering to national, state, and local regulations such as the Affordable Care Act (ACA), the Employee Retirement Income Security Act (ERISA), the Consolidated Omnibus Budget Reconciliation Act (COBRA), and the Health Insurance […]
A survey by Deloitte predicts that construction costs will continue to increase in 2024. This is a challenge for every homeowner, regardless of the state they reside in or how huge their home is. However, owning a high-value home with labor and construction costs continuously increasing means traditional homeowner policies might not cut it for […]
Run your nonprofit board with maximum peace of mind – get your NPO protected with Directors’ and Officers’ insurance today!
As a leading full-service independent insurance agency, Tooher-Ferraris Insurance Group understands the unique challenges faced by construction businesses and offers customized insurance and risk management programs to protect every aspect of their operations. Wilton, CT— 6/22/24: Tooher-Ferraris Insurance Group, a leading full-service independent insurance agency, is pleased to announce the launch of its comprehensive insurance solutions […]
U.S. drivers pay an average of $2,150 annually for full coverage on their automobile — an increase of more than 63% over the last decade, according to Forbes Advisor. Younger drivers, however, can expect to pay exponentially more for coverage, with the average 16-year-old with their own policy paying $8,765 per year, and 17-year-olds paying an average of $6,829 in […]
If you own your personal watercraft (PWC), you’ll want to know about all the ways your PWC policy allows you to stay protected, including bodily injury, property damage and theft. The basics: A small boat, such as a canoe or other un-motorized boat, is typically covered under the personal property portion of your homeowners insurance […]
Home insurance remains one of the most frequently purchased types of coverage across the United States. However, hard market conditions have made acquiring an adequate policy more expensive and complicated for many people. Indeed, major insurance carriers have already limited or ceased offering certain types of insurance in some parts of the country—areas that were […]
It’s essential to be properly prepared for hurricane season, as these storms carry significant risks to safety and property. To raise awareness of the dangers of hurricanes, the National Oceanic and Atmospheric Administration (NOAA) annually sponsors National Hurricane Preparedness Week. This annual event runs from May 5-11, 2024. With the eastern Pacific hurricane season beginning […]
Without a doubt, pets are part of the family & we want to protect them. If you’ve ever considered pet insurance, keep reading for a rundown of coverage options! An overview of pet insurance: what does it cover? If your dog or cat is sick or injured, pet insurance can cover your eligible veterinary bills and […]
10 Essential Cybersecurity Controls Cyber incidents—including data breaches, ransomware attacks and social engineering scams—have become increasingly prevalent, impacting organizations of all sizes and industries. Such incidents have largely been brought on by additional cyberthreat vectors and growing attacker sophistication. As these incidents continue to rise in both cost and frequency, it’s crucial for organizations […]
In the event of a catastrophic commercial property loss, the process of getting your business back up and running can be overwhelming. Although infrequent, these types of claims can severely impact operations, earnings, team members and the company’s reputation. Responding to a loss can seem daunting in the moment, especially considering the first few hours […]
The Occupational Safety and Health Act (OSH Act) requires covered employers to report workplace injuries and illnesses and to prepare and maintain records of occupational injuries and illnesses. The Occupational Safety and Health Administration (OSHA), which is part of the U.S. Department of Labor, is responsible for monitoring compliance with the OSH Act’s reporting and […]
Long-range forecasts are already calling for the 2024 Atlantic hurricane season to be extremely active. Commercial weather forecasting service AccuWeather has released its expectations for the 2024 season, including warnings that hurricanes could wreak destructive havoc on areas along the Atlantic and Gulf coasts this year. Conditions are expected to resemble those of the 2005 […]
Winter will be here before we know it. Frozen pipes, ice dams, fallen trees. The 3 most common cold-weather claims, but what can you do to prevent them? Frozen pipes: Generally, pipes that are exposed to frigid outdoor temperatures freeze more readily—such as hose bibs, swimming pool lines and water sprinkler lines. Pipes that run […]
The Occupational Safety and Health Administration (OSHA) requires employers subject to its recordkeeping requirements to post copies of their OSHA Form 300A between Feb. 1 and April 30 of each year. Employer Action Steps On February 1, employers subject to OSHA recordkeeping requirements must ensure that copies of their completed Forms 300A are posted in […]
2023 marks the 20th annual cybersecurity awareness month. Whether you’re protecting your business or your home, it’s crucial to safeguard yourself from cyber events. Personal Cyber Coverage: Today’s society has grown increasingly digital in nature, with many individuals leveraging smart devices within their daily lives. Although this technology can offer various benefits, it can also […]
Whenever it rains, it can flood, regardless of your proximity to a body of water. You don’t need to live on the coast to be at risk, which is why it’s essential to understand what types of hurricane damage are covered by your homeowners policy. Typically, most homeowners insurance policies provide some financial protection against […]
As cyberattacks become more widespread and destructive, stakeholders are increasingly motivated to hold businesses accountable for poor digital security controls, response protocols, and recovery measures. However, this poses increased litigation concerns and associated expenses. The latest industry findings show that data breach class action lawsuits have jumped by 44% since 2020. With litigation issues on […]
A surety bond is a comprehensive risk management tool used in countless industries across America. Businesses like contractors, car dealerships, credit services, health clubs, medical device suppliers, auctioneers and others are required to hold bonds on the federal, state and/or municipal level. Even solopreneurs like acupuncturists and notary publics are required to hold a surety […]
Whenever it rains, it can flood, regardless of your proximity to a body of water. A standard flood insurance policy covers your home and contents when damage is caused by rising water. We work closely with Neptune Flood, who will help waterproof your assets by offering expanded, optional coverage that gives your family protection where […]
A life insurance policy is a safety net that ensures your loved one’s future financial obligations are met, and as we reach different milestones in our lives, our insurance needs change. But, when is the right time to reach out to your broker to ensure adequate coverage? New home ownership— Purchasing a new home is […]
Recent market developments have demonstrated signs of an improving commercial insurance landscape. Yet, industry experts asserted that ongoing headwinds facing certain lines of coverage will continue to generate hardened conditions overall, therefore driving up premiums. As such, it’s essential for businesses to be aware of the following market trends and how they may impact coverage […]
Risk management is an essential part of owning and operating a small business. Comprehensive plans can improve the safety of business operations and reduce the risk of loss. How to Manage Business Risks A vital aspect of running a small business involves managing its associated risks, as no operations are immune to internal or external […]
The National Weather Service has issued a hazardous weather outlook & wind chill advisory for the upcoming weekend. Friday through Saturday: A dangerously cold air mass is expected to settle over the region on Friday and Saturday. Wind chill values during this time may fall to as low as 10 to 20 below zero for […]
Nothing says “I love you” like a sparkling diamond necklace, but in the event of a loss, nothing causes more heartache than learning you’re underinsured. Learn more about how you can protect the finer things in life with additional coverage options. Standard homeowners, condominium or renters’ insurance policies include a limited amount of coverage for […]
Life insurance isn’t a fun thing to think about, but if you have people who depend on you for financial support, then life insurance is really about protecting them in case something happens to you. Your designated beneficiary would collect a financial benefit upon your death. Plus, during this tough economic period, ensuring that your […]
Just a single inch of water from flooding can cause costly damage to your home. Here’s what you need to know about insuring against damages caused by flooding. What Protection Does it Offer? A standard homeowners policy does not cover damages from flooding. A separate flood policy is needed to cover losses to your property […]
While spending time in the sun offers health benefits and may be part of your daily routine, you have to be careful to protect yourself from its ultraviolet (UV) rays. UV rays not only cause sunburn, but they can also damage your eyes and hurt your vision. This article provides more information about how the […]
Wine and spirits have become top collectibles While many luxury items continue to attract successful families and individuals, wine and spirits have both become top collecting categories. Rare whisky and fine wine have outperformed every other luxury asset, soaring some 564% in the last decade.1 In the world of fine wine, two bottles of 1945 […]
If you consider your pet to be an important part of your home and family, you’re likely willing to spend a great deal to ensure your pet’s health and well-being. In addition to the costs of food, grooming, training, toys, vaccinations and other regular expenses, veterinary care for sudden illness or injury can impact your […]
Hurricanes, tropical storms, and other severe weather events happen every year across the country. Without proper care, a major storm or flood event could severely damage or destroy the precious works of art and other valuable items you’ve spent years collecting. With a little bit of planning, you can help ensure your home and collection […]
If you own your personal watercraft (PWC), you’ll want to know about all the ways your PWC policy allows you to stay protected, including bodily injury, property damage and theft. What is PWC Coverage? Personal watercraft (PWC) coverage may cover the following: Bodily injury to yourself, another rider, or swimmer injured in your path Property […]
When renting a car, the rental company will typically ask if you’d like to purchase insurance coverage for the vehicle. It’s at this point when you have to ask yourself: Do my personal insurance policies provide the coverage I need, or should I purchase insurance through the rental car company? Although standard auto insurance policies […]
The Impact of Inflation on the Commercial Insurance Market Over the past year, inflation has become a growing concern. Inflation issues have largely resulted from a culmination of labor and supply trends brought on by the COVID-19 pandemic, and they are clearly reflected within the country’s rising Consumer Price Index (CPI). According to the […]
Workers’ compensation claims have a variety of different costs associated with them. Some of these costs are expected costs, while others are unexpected. Here’s the difference between these terms: Expected costs are those that are covered by workers’ compensation insurance. Such expenses are commonly referred to as direct costs. Unexpected costs are those that workers’ […]
Wilton, CT — March 30, 2021 — We love small business and are excited to announce that we have expanded our services to include group benefits including health, dental, vision, disability, life and voluntary benefits to small businesses throughout the Connecticut, New York and the greater New England region. “We see a tremendous opportunity in […]
Did You Know? A recent study from the University of Minnesota found that talking on a cellphone while driving impairs one’s ability even more than driving while intoxicated. Talking on a cellphone and other driving distractions pose a major hazard to everyone on the road.
The way project owners evaluate and manage risks on construction projects and make fiscally responsible decisions to ensure timely project completion are crucial to their success. Since private owners cannot afford to gamble on a contractor whose reliability is uncertain or who could end up bankrupt halfway through the job, a surety bond is a […]
Floods, lightning strikes and other common storms can endanger your home, but you also need to consider the risks of the wind damage that accompanies these weather events. High winds can cause significant damage to your home’s roof, windows, doors and siding. And since wind is usually just one factor of dangerous storms, any wind […]
At most condo communities, a homeowners association (HOA) is equipped with an insurance policy that provides coverage for incidents that occur outside of a condo owner’s personal unit. This is commonly known as a master policy, and some condo owners wrongfully assume it is adequate enough to account for all incidents that occur in […]
As a business owner, you strive to hire qualified employees to work for you. Unfortunately, as you are well aware, not every hiring decision goes as planned. Even if an employee is terminated for legitimate reasons— such as poor attendance or unsatisfactory work habits—every termination opens the door for potential lawsuits. Read on to learn […]
This guide will help you collect the necessary documentation and statistics required during a payroll audit. Because of the nature of the required information, it is recommended that this guide be completed by the accounting department, unless your organization has someone specifically responsible for these documents and the workers’ compensation policy. STEP 1: Collect Necessary […]
The Important of Prompt Claims Reporting The rising cost of claims presents a significant challenge for employers today. However, there is a simple strategy that can significantly reduce your claims costs: report all claims promptly. In fact, the sooner a claim is reported, the lower the cost is likely to be. Beyond cost, reporting claims […]
Celebrating the holiday season with colorful lights and a tree can add more than just sparkle to the festivities—they are also a fire hazard. In fact, according to the National Fire Protection Association, a higher percentage of home fires occur during the holiday season.
Hurricanes, fires and other disasters can cause widespread devastation that threatens the safety of your family and home. But once a disaster passes, you and your family aren’t necessarily out of danger. Read the attached article to learn helpful tips for inspecting and repairing your home after a disaster.
Safety Tips for Proper Workplace Lifting Lifting is a common activity in the workplace—an activity that can be potentially dangerous if the proper techniques are not used. In fact, lower back injuries caused by improper lifting are some of the most common work-related injuries.
Just a single inch of water from flooding can cause costly damage to your home. Here’s what you need to know about insuring against damages caused by flooding either from excessive rain or a natural disaster.
Restaurant Owners: This restaurant-specific scorecard can help you determine how your business is exposed to cyber threats.
Is your family jet-setting this weekend to enjoy a much-needed vacation? At TFIG we know that your trip may have taken months to plan therefore we want to safeguard your investment; here are coverage types. Trust in us to protect your adventures.
Do your weekend water sport activities range from paddling on the lake to speeding on the open water? TFIG wants to make sure you don’t get stranded at sea without the right coverage; here’s what you need to know. Trust in us to protect your assets.
Workers’ compensation is a system of no-fault insurance that provides medical and monetary benefits to employees (or their survivors) who sustain work-related injuries, diseases or death. Workers’ compensation is governed by state law.
Summer weekends call for outdoor entertaining and backyard pool parties. Both are enjoyable but can mean added liabilities not covered by your standard policy. At TFIG we want you to be prepared; here’s the basics on personal umbrella liability. Trust in us to protect your fun.
Many spend their weekend days basking in the sun while others are out working in it. July is National UV Safety month, check out these tips from TFIG to educate outdoor workers about staying safe in the sun. Trust in us to protect your employees.
As a responsible employer, you need to react quickly to workplace incidents with a prescribed investigation procedure for finding root causes and implementing corrective actions. Taking quick and planned actions can demonstrate your company’s commitment to the safety and health of your employees, and your willingness to improve your safety and health management programs to […]
According to a recent study, more than half of all claims filed for employment-related liabilities are against employers with fewer than 50 employees. Alarmingly, the study also reveals that not even 2 percent of small businesses have employment practices liability (EPL) coverage.
Continuity is critical in business, and there are few things more important than continuous revenue and cash flow, particularly for small to medium-sized organizations. In fact, just one brief business interruption can be incredibly costly for an organization, often leading to serious repetitional damages or long-term closures.
A guide to compiling essential information. This guide will help you collect the necessary documentation and statistics required during a payroll audit.
Directors and officers liability (D&O) insurance is a critical component of almost every organization’s risk management program.
With today’s emphasis on corporate transparency and accountability, an organization’s directors and officers face a countless number of exposures. Regardless of your company’s size or mission, the legal costs associated with a lawsuit can be crippling for both the organization and your directors and officers.
Some of the most disruptive and costly claims are a result of water damage from broken pipes. Follow these tips to avoid these potentially devastating claims. Home Matters – Keep Your Pipes From Freezing
Preparing for winter storms is crucial to survival and safety. Become familiar with winter storm warning signals so you can take appropriate action and learn the dangers of winter ailments so you can avoid injury. Winter Weather Warnings Familiarize yourself with the following weather alerts so you know what actions you may need to take: Winter […]
By Jason Wolf at propertycasualty360.com It’s been 10 years since a devastating hurricane has hit the Southeast. There are many property owners and managers whose careers began in the region since the last massive storm. These professionals — relatively new to the industry — may be unfamiliar with what they must do to prepare for […]
July 7, 2017 | By Eric P. Ferraris, CIC, CRM, CLTC, Chief Operating Officer of Tooher-Ferraris Insurance Group Part of our firm’s signature assessment with each business we work with is to identify their exposure to loss to deliver risk management and insurance solutions. Most business owners will proclaim, “We have a safety program!”. When diving […]
Jun 29, 2017 | By Nir Kossovsky | http://www.propertycasualty360.com The potential for damage from corporate reputational crises is greater than ever, with market cap, sales, margins and profits all in danger. But in today’s heated social media environment — in which the public and key stakeholder groups seem all too ready to personalize their criticism and […]
What You Don’t Know Can Hurt You Re: Short term rental of your home The rental of your home for a weekend, a week, a month or more may void some of the coverages afforded by your homeowner’s policy. For example: Theft of personal property may be excluded. Bodily injury and/or property damage that occurs during a […]
EMERGENCY ACTION PLAN (EAP) Acadia Insurance | 2017 Hurricane Bulletin Setting up an Emergency Action Plan helps aid and organize employer and employee procedures during workplace emergencies. Well-developed emergency plans and appropriate employee training, in which employees understand their roles and responsibilities within the plan, can result in fewer and less severe employee injuries and […]
May 08, 2017 | By Laura Doyle | www.propertycasualty360.com Between the 1960s and the 1980s, a total of 25 private collections were open to the public as museums. But as the number of collectors has increased and the value of the fine art market has skyrocketed over the past four decades, so too has the number […]
According to PropertyCasualty360.com, roughly 6 million couples will get engaged on February 14th. That’s a lot of insurance considerations for couples deciding to make the big commitment of marriage — and possibly, one day, divorce.
Life insurance isn’t a pleasant thing to think about, and it may seem like an unnecessary expense. But if you have dependents who rely on you for financial support, then life insurance is really about protecting them in case something happens to you.
Your home maybe one of your most valuable assets. A key factor in it’s appreciation is keeping up with ongoing maintenance needs and tackling renovation projects using highly qualified contractors.
