A new law went into effect at the end of 2021 that will require brokers who provide insurance brokerage services to ERISA-covered group health plans to make advance disclosures of commissions they earn to their ERISA-group health plan customers.
Open communication among health fund vendors may help reduce waste and improve financial outcomes for plans.
Title V of the Landrum Griffin Act, also known as the Labor Management Reporting and Disclosure Act (LMRDA) generally provides that it is against public policy to relieve union officers of liability for certain breaches of duty, such as personal profit, fraud, conflict of interest, anti-trust, or racketeering allegations. Thus, labor leaders can be personally…
Once again, infrastructure investment is in the news, and for good reason. The United States is behind much of the world when it comes to public funding of new construction, upgrades, and investment. It has been this way for so long that private investors have stepped in to help fill the gap.
Right now, our clients are grappling with when and how to safely resume normal day-to-day activities after more than a year of restrictions due to COVID-19. They are making policies about social distancing, about masking, about whether to require employees to get vaccinations, and other decisions related to workplace conditions. However, Equal Employment Opportunity Commission…
Like many financial service companies, Ullico’s subsidiaries handle a high volume of sensitive customer data, including Protected Health Information (PHI). To protect customers, the company monitors its IT systems for both inadvertent data exposures and unauthorized attempts to access data. But the company’s data management tools and processes created an overwhelming number of alerts—including many…
Protect your health and welfare funds from catastrophic claims. The rising cost of health care puts union trustees and fund administrators in a delicate position. On one hand, union members have come to enjoy the benefits of self-funded plans. On the other hand, self-funded plans face unique challenges. Because the union takes on the financial…
Ullico Executives Tina Fletcher and Marc Zinsmeister recently spoke to the IBEW-NECA on “Preventing & Insuring Data Breaches.” Below is a summary highlighting key points from their talk. Data breaches are no joke. They can cause interruptions in your operations, result in direct financial losses, jeopardize your reputation, and lead to costly lawsuits. Cyber insurance…