Jon Cairone

Five Star Renewal! Risman Insurance Agencies!🌟 Nick Fyntrilakis, President and CEO of MAIA, presented Henry Risman, President of Risman Insurance Agencies, and his team with their Five Star renewal award at their Tewksbury, MA office—one of their seven locations! Congratulations! #maia #massagent #insurance #insuranceagents #insurancecompany #massagents #insuranceagent #independentagent #maiamember #fivestaragency #fivestarrenewal #rismanagencies #rismaninsurance #rismaninsuranceagencies

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🚨 Maine Staffing Firms News Alert! Maine's Bureau of Insurance approves a 15.7% average rate reduction for Workers' Comp. - Aims at workers’ compensation insurance premiums  - MEMIC, the largest workers’ comp provider in the state, is involved - A total saving of as much as $31 million  - Over 17,500 Maine employers to benefit  - Rates effective upon renewal of policies in the next year This rate reduction doesn't just signify financial relief.  - It points to the possibility of reinvestment - It's an opportunity for Maine businesses to invest back into local people and businesses A bigger picture comes to mind.  - This isn't just about insurance - It's about the growth and development of an entire community Read more below ⬇ https://lnkd.in/ee2HhJGs

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Employers, do you look at your claims reports and feel hopeless? Are you getting data without insights? We hear it all the time. MSK continues to cause challenges with your employees and your plan. 77% of people are looking for options that do not require surgery. Regenexx is a leader in non-surgical alternatives for your employees. Othobiologics are 50% less expensive than the surgery avoided. $0 to start the program. Make sure to talk to Mark A. Testa, DC, MHA on July 11th at USI Innovation Symposium Register for USI’s Benefits Innovation Symposium: https://lnkd.in/gYqzhmpN Learn more about Regenexx here: Employers, do you look at your claims reports and feel hopeless? Are you getting data without insights? We hear it all the time. I will bet that MSK continues to cause challenges with you employees and your plan. 77% of people are looking for options that do not require surgery Regenexx is a leader in non-surgical alternatives for your employees. Othobiologics are 50% less expensive than the surgery avoided. $0 to start the program. Make sure to talk to @Mark Testa on July 11th at USI Innovation Symposium Register for USI’s Benefits Innovation Symposium: https://lnkd.in/gYqzhmpN Learn more agout Regenexx https://lnkd.in/g3taiJe7

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Risant Health recently purchased Geisinger in PA. Geisinger is primarily a value-based care provider, but also has ~100,000 Medicare Advantage members. Most of which look to be in the more "rural" areas of PA. For more info on the acquisition see the article linked in the first comment below. It sounds like Risant is interested in purchasing more value-based care providers. Will be interesting to see if those also include MA members. ___ Give me a follow. I post Medicare Market Insights daily!

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For MA-based employers with 100 or fewer employees, check out this hot tip from Claria Partners 🔥 #workforcetraining #traininggrant

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Is Your D&O Insurance Program Keeping Pace with the Market? The D&O insurance market has seen a significant shift, with premiums dropping for many publicly traded companies in recent years. Industry data shows that 91% of these companies experienced reduced premiums in the first half of 2023, with average rate decreases ranging from 10% to 25%. This trend is likely due to new market entrants, increased underwriting capacity, and heightened competition. However, private and nonprofit companies still face rising premiums, though at a slower pace than in previous years. But are you fully leveraging these favorable market conditions? Consider the following: - Are you aware that the use of AI tools in corporate decision-making is growing, but brings unique risks such as biases, errors, and potential legal liabilities? - How prepared is your organization for evolving AI regulations that require clear policies and oversight? - Have you noticed the significant decline in securities class action lawsuits and IPO/SPAC-related litigation? What does this mean for your D&O risk? - Are your senior leaders equipped to handle the increasing scrutiny over environmental, social, and governance (ESG) issues and the associated litigation risks? - How robust are your cybersecurity practices in mitigating the rising threat of cyberattacks and ensuring compliance with new SEC rules on cybersecurity disclosure? These are crucial questions that could impact your D&O coverage and claims. It’s essential to regularly review your D&O insurance program structure and limits, consult with experts, and ensure your senior leadership team is proactive in managing emerging risks. Remember, when it comes to your Executive and Financial Risk Insurance, you don't necessarily get what you deserve; you get what's negotiated for you.

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In a significant development for the life insurance and life settlement industries, the Connecticut Insurance Department has petitioned for an order of rehabilitation for PHL Variable Insurance Company and its subsidiaries, Concord Re and Palisado. This move, driven by financial instability, is poised to substantially impact policyholders and the future of risk-based purchases in the life settlement market. The implications of this petition are far-reaching, potentially altering the landscape for life insurance providers and reshaping how policyholders approach their financial planning and investment strategies. As the situation unfolds, stakeholders in the industry are closely monitoring the proceedings to gauge the potential long-term effects on market dynamics and consumer confidence. https://lnkd.in/eUZJVh7S. #LifeInsurance #InsuranceNews #FinancialStability #Policyholders #LifeSettlement #MarketImpact #FinancialPlanning #InvestmentStrategies #IndustryNews #ConnecticutInsurance

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What's your company's GLP-1 strategy? Insurers are removing coverage, and roughly 60% of self-insured employers don't cover them. They help people with #diabetes - but at a cost of $12k to $15k / year. Need help? We have #realworld solutions cutting that cost in half. #workingsmarter #ssgmi #pbm #glp1problems #benefitspend #benefits #benefitbroker https://lnkd.in/eQw4ZQyQ

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Aging is a natural part of life so we're sharing some tips on #healthy aging and living life to the fullest on the Evolve Insurance Group, LLC. insurance blog!

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Pittsburgh Surety Association Spring Event It was an honor and pleasure to speak at the Pittsburgh Surety Association Spring Luncheon yesterday. As the President of the National Assocaition of Surety Bond Producers (NASBP) for the next year, it was nice to share my theme for the year, “Backing Our Future,” which ties in with NASBP Vision 2028. This theme embraces the collaboration and innovation the Association is undertaking to address advocacy, technology, membership, and education. Regarding the education pillar of Vision 2028, I noted the Association is focusing on attracting the next generation of talent to the surety industry and on providing experiences and resources to surety professionals seeking career advancement. With that aim, the Association is pursuing several initiatives, including re-launching the NASBP Career Center, now called SuretyJobs.org. Also, through its charitable foundation, the Surety Industry Research Foundation, NASBP will explore the creation of an online program for college students interested in learning more about surety bonding and surety internship opportunities. Another focus for the year is strengthening our membership community. “Ultimately, everything we do is for our community. For the past 13 years, membership numbers have increased annually. This is attributed to the added initiatives, communications, and increased recruitment efforts being undertaken by the Association.” On the technology side, I noted the Association will continue its support of efforts to increase surety bond process efficiency through vendor adoption of the XBRL data standard and support for digital bonding initiatives. The continued adoption and acceptance of XBRL with vendors is critical to growing efficiencies in our processes. During my term, I plan to encourage members to become proactive advocates with federal and state legislators about the importance of surety bonds to the economy and in taxpayers, businesses, and suppliers. Educating decision-makers about the importance of surety bonds and taking part in the Association’s annual legislative fly-in are paramount to protecting the integrity and relevance of the surety product. I appreciate the invite from the Pittsburgh Surety Association. #BackingOurFuture #MakingSuretyACareer #SuretyLearn

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Big I New York members regularly contact me with worries that they'll unintentionally do something that will get them in trouble with state insurance regulators. My latest blog post dissects the latest report of New York insurance disciplinary actions. The results may surprise you. https://lnkd.in/eYEzsYHV #insuranceagents

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Long-term stress can increase the risk of other mental health problems. Our Mental Health Awareness Toolkit includes short videos from Alera Group and our partners at NAMI-NYC, such as “Tips To Tame Stress.” #MentalHealthAwareness #Wellbeing https://ow.ly/lJ3y30sCB0R

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Hard claim to settle, hard claim to adequately prepare for. Not just the insurance transfer..... (which requires a covered cause of loss) but the contingency plan for those interruption exposures you CAN'T transfer to insurance because the trigger wasn't insured. I've not met a CFO yet that wants to dig into a BI worksheet.....and that's just the beginning. Contemplating how an organization stays in business or adjusts for the loss of revenue in general is a paramount piece of the risk management process.

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💯 Great News for Massachusetts Staffing Firms: Workers’ Compensation Rates Decrease by 14.6%! Exciting news for Massachusetts employers! Effective July 1, 2024, workers’ compensation rates have decreased by 14.6%, marking the fifth consecutive rate reduction. This significant decrease is the result of a thorough rate hearing between the Division of Insurance’s State Rating Bureau (SRB), the Workers’ Compensation Rating and Inspection Bureau (WCRIB), and the Office of the Attorney General. This reduction translates to approximately $181 million in annual savings on workers’ compensation premiums, with Massachusetts employers expected to save around $87 million. This is a much-needed relief for businesses facing rising costs. Acting Insurance Commissioner Kevin Beagan stated, “The Division’s State Rating Bureau worked hard to demonstrate that workers’ compensation rates could be reduced further, and we are pleased that we can deliver good news for employers struggling with increasing costs.” This development not only benefits employers financially but also highlights the effectiveness of cost containment programs in the Massachusetts workers’ compensation insurance industry.

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**Signature Performance, Inc. has been named a Gallagher BEST-IN-CLASS employer! This Best-in-Class Benchmarking Analysis profiles statistically significant attributes of top-performing midsize employers with 100-999 full-time equivalents (FTEs). Data from Gallagher’s 2023 US Benefits Strategy & Benchmarking Survey was interpreted to identify participants that excel in optimizing employee and organizational wellbeing. A total of 1,464 midsize employers responded to the entire set of questions. The top quartile includes the 355 highest-scoring, best-in-class employers (24%). Several criteria identified the midsize best-in-class group. Employers were assigned points and placed in quartiles based on their relative performance in each of the following measures: • Planning horizons for benefits and compensation strategies • Extent of the wellbeing strategy • Turnover rate for FTEs • Completion of a workforce engagement survey • Use of HR technology strategy and its level of sophistication • Difference in healthcare costs over the prior year • Integration of DEI initiatives • Extent of the financial wellbeing strategy • Use of a communication strategy. Congratulations Rick Pane, Andrea Batten, Kimberly Fryar, Jeffry Simet, Allen Fredrickson Chris Vairo, CRCR, PAHM, Mark Mathia, MBA, ACC, CPPC. We are so PROUD of you and love serving you as a Gallagher client! Leah Vetter Linnea Fellows Liz McPeek

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