GEB Vice President and Producer, Jeff Howard, was named One to Watch in Insurance & Investments by New Orleans CityBusiness. Ones to Watch is a regular feature, highlighting up and coming professionals in their fields.
Nonprofits may believe their organization does not need insurance to protect against the risks associated with using volunteers. However, accidents and crimes do happen, and nonprofits must be prepared for the risks involved with using volunteers.
To help inform nonprofit organizations about what motivates volunteers, how volunteers can be recruited and how insurance can provide a layer of protection, Assurex Global has published a white paper, Insider Secrets to Volunteer Management.
Read the white paper to learn about:
• Two types of benefits that volunteers often gain and how managers can tap into these benefits to improve volunteer loyalty
• Six steps for effective volunteer management
• Two types of insurance nonprofits should consider to protect against the risks associated with volunteers
Read the full white paper to learn more.
GEB Producer, Betsy Clement, offers her expertise on flood insurance in the November 2016 issue of Biz New Orleans magazine. The article, “Learning From Disaster,” by Kim Roberts reflects on the recent flooding in Louisiana and ultimately insists that no matter what flood zone your home or business is located in, “everyone in South Louisiana should have flood insurance.”
Check out the article on page 68 of this month’s Biz New Orleans magazine, or read it online here >
Compliance Webinar: How Will the Election Impact Employee Benefits Regulations & A Look Forward to 2017
Thursday, November 17, 2016
2-3:30 p.m. Central
Reserve your seat EARLY to ensure you receive advance webinar materials.
Please be sure to list Gillis, Ellis & Baker as the firm that invited you when completing your webinar registration. Register at least 24 hours prior to receive advance webinar materials.
With the election over we will discuss how the results could affect employee benefits rules and regulations. We will also look forward to 2017 and discuss regulatory developments and new rules likely to impact employers going forward. For example, Applicable Large Employers (ALEs) need to prepare for upcoming IRS communications expected in 2017 regarding possible §4980H penalties.
Bob Radecki, President, Benefit Comply, LLC
Bob has more than 30 years’ experience in the HR and employee benefits industry helping employers deal with difficult benefit and compliance matters. He has served as the principal HIPAA consultant to a number of health insurance companies and is recognized as an expert on a variety of benefit compliance issues including COBRA, FMLA and health reform. Bob has been the featured speaker at numerous industry events and conferences, and has published many articles on various compliance issues.
Regan Debban, J.D., MBA, Senior Consultant, Benefit Comply, LLC
Regan Blomme Debban has experience working as an attorney for a major Fortune 500 company and for a PEO providing benefits and HR services to small employers. She has also worked as a legal researcher for Thomson Reuters. Prior to obtaining her law degree, Regan worked as an account manager in a leading insurance agency in the Minneapolis area, so she understands the issues and challenges facing employee benefit consulting firms and agencies.
For the car enthusiasts among us, the 2016 Hagerty Hot List has identified cars made within the 2016 model year that could become future collectibles. The most affordable car on the list is the Mazda MX-5 Miata, priced at $24,915. Topping the list is the 2016 Lotus Evora 400, priced at $89,000. (Note: the list only includes cars with an MSRP of less than $100,000.)
– Two methods of protecting your home from a burst pipe
– Two insurance carriers that provide select insurance coverage for valuable wine collections
– Four methods of protecting your online identity from criminals
Read the full newsletter here.
Gillis, Ellis & Baker is honored to be named to the 2016 Best Places to Work list by New Orleans CityBusiness in the Large Company category! The Large Company category (more than 50 employees) includes 35 honorees, and the Small Business category (less than 50 employees) includes 15 honorees.
To determine its honorees, CityBusiness uses a scoring system based on benefits, including salary, health care, paid time off, and average length of employment. In addition, employees at the nominated companies are asked to complete a survey, allowing the selection committee to gauge the workplace culture and staff morale.
Congratulations to all of the honorees! You can view the complete list here.
All 50 companies chosen will be honored at an awards event at noon Friday, Dec. 2, at the Hyatt Regency. The top three large and small companies will be announced at the event.
Be on the lookout for a special 2016 Best Workplaces publication that will be inserted into the Dec. 9 issue of New Orleans CityBusiness.
Proud to be GEB!
Gillis, Ellis & Baker has been selected for the 4th year to be a part of an elite group of independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) “Best Practices” Study Group.
Only 254 independent agencies throughout the U.S. qualified for inclusion in the 2016 Best Practices Study. An IIABA affiliated state association or an insurance company must first nominate the agency which then must qualify based on outstanding customer retention, growth, stability and financial management. More than 1,800 agencies were nominated this year.
Each year since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, join forces to study the country’s leading agencies in six revenue categories, ranging from “Under $1.25 million” in annual revenue to “Over $25 million” in annual revenues. The agencies comprising the study groups are selected every third year through a comprehensive nomination and qualifying process and awarded a “Best Practices Agency” designation. The selected “Best Practices” agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year.
“Participation in the Best Practices Study has become a prestigious recognition of the superior accomplishments of the top insurance agencies across the country,” said Anderson Baker, Gillis, Ellis & Baker President. “Our inclusion with these 254 outstanding agents and brokers clearly recognizes us as an industry leader.”
The agency was nominated by either an IIABA affiliated state association or an insurance company and qualified based on its operational excellence.
The Best Practices Study was initiated by IIABA in 1993 as the foundation for efforts to improve agency performance. The annual survey and study of leading independent insurance agencies documents the business practices of the highest performing agencies and urges others to adopt similar practices.
Founded in 1896, IIABA is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance – property, casualty, life and health – as well as employee benefit plans and retirement products. Learn more at www.independentagents.com.
by Lauren G. Steinhardt, Producer, Gillis, Ellis & Baker
Last month we all watched as our neighbors across our state were enveloped in floodwater. As the water subsides, and helping hands busily take on tasks that are all too familiar to many in New Orleans, I’ve been struck by the pervasive misunderstandings that surround the risk of flooding and Flood Insurance. Below are a few points to clarify popular misconception, in particular, as it relates to the map changes taking place in Orleans Parish on September 30, 2016.
- You are in a flood zone. We all are. Every community in Louisiana (and most of the US) is mapped by FEMA and fits into one of many flood zones based upon the likelihood of a flood in any given year.
- The real question is: Which zone are you in? Zones B, C, and X are moderate risk zones. Any zone that starts with an A has a higher risk of flooding, and Zone V has the highest risk of flooding.
- Special Flood Hazard Areas: The A Zones and V Zones are known as Special Flood Hazard Areas (SFHA) and are considered susceptible to a flood that has a 1% (or higher) chance of occurring in a particular area in any given year.
- Recurrence Intervals: A flood with a 1% chance of occurring in a particular area in any given year is commonly known as 100 year flood. The recent flooding in Louisiana is the eighth 500-year (or greater) rainfall event in the US in just over a year.
- New Flood Maps: Effective September 30, 2016 new flood maps will go into effect for Orleans Parish. Many properties will no longer be located in Special Flood Hazard Areas. The owners of properties that are moving out of SFHA will likely see a reduction in flood premium. Many of the companies that administer flood policies for the NFIP will review the policy and if possible, send refunds to their client’s midterm. With thousands of clients affected, this process will take time, but still good news!
- Two changes are taking place. The maps in some areas are being revised to reflect improved drainage systems, moving some areas from high risk flood zones to moderate risk zones. The other change taking place has to do with the Base Flood Elevation, which is changing in some areas. If the structure on a property is positively elevated relative to the Base Flood, the risk of flooding decreases, as does the flood premium. Even if your property isn’t moving out of a high risk zone, you may still benefit from the change in Base Flood Elevation.
- But, don’t let your guard down. If you are told by a Real Estate agent or your Lender that you don’t need Flood Insurance they mean you don’t have to have Flood Insurance to qualify for a federally backed mortgage. They don’t mean Flood insurance isn’t important to protect your assets.
- Flood insurance covers physical loss to a structure and/or the contents contained in the insured structure. Homeowners, keep in mind, coverage for loss of use is not included in Flood Insurance. Similarly, Business owners should remember that Business Interruption is not covered by the NFIP. Some insurers offer a Difference in Conditions (DIC) policy to make up for this gap – talk to your agent about the availability and pricing.
- Hindsight is not a reliable forecaster for future events. As we’ve seen time and time again, “I’ve never flooded before” doesn’t mean, it won’t happen in the future. Flood insurance policies for homes in B, C or X zones is usually less than $500 for $250,000 of building and $100,000 of contents coverage. If you choose to retain this risk, be sure you have the financial capital to recover without insurance.
Saying you aren’t in a flood zone is like saying you don’t have a temperature. You always have a temperature. The question is: Do you have a fever?
The importance of knowing your risk is clear. For most Americans their home is the largest asset they will ever own. The exceptions are generally business owners, who likely have even more funds in buildings and contents. Careful consideration should be taken to protect your home or business. Do your research and talk with your insurance agent to make an informed decision. Any of us can be affected by a flood. If it happens to you, we want to be able to tell you it’s going to be okay, because you bought flood insurance.
As an affluent individual, you have proven yourself to be financially savvy—saving money when you can and investing wisely. But are you spending your hard-earned wealth wisely when it comes to insurance?
In 2010 and 2012, Chubb Personal Risk Services® conducted a survey of more than 600 independent insurance brokers and asked if their clients were over or underinsured with their mass-carrier insurance for 21 types of coverage. The results revealed many opportunities to improve protection and maximize value in families’ personal insurance programs.
We, as Assurex Global Partners, wanted to share the following white paper with you so you could see the breadth of ways in which high net worth individuals, like you, are overpaying to be underinsured.
The whitepaper discusses:
By now you’ve heard of GEB University, a seminar series focused on what we do best: insurance, risk management and employee benefits. We host these seminars in our office. But now we’d like to also offer the opportunity to bring our insurance knowledge to you!
This unique service allows our experts to offer detailed and tailored insurance and risk management training. Through continuing education, our community will better understand our industry, its mechanics and language. It is our goal to change the way most people view this misunderstood industry, called insurance!
Please contact us if you are interested in having a GEB expert present one of these seminar topics to your organization or association.
– Insurance 201: Beyond the Basics
– Cyber Risks: Prevention & Mitigation in a Technological World
– Contractual Considerations For Your Business
– Management Liability/Directors & Officers Insurance
– Understanding the Pollution & Environmental Risks to Your Organization
– Retirement Planning, Fiduciary Responsibility
– Workplace Safety
– Disaster Preparedness For Your Business
– Human Resources: Fair Labor Standards & Compensation Considerations
– Human Resources: Harassment & Discrimination Issues & Risk Management
Don’t see the topic you’re looking for listed here? No worries. We can tailor a presentation to your needs. Just contact us to get the ball rolling!
Contact Amanda Graves to set up your seminar at:
– Call: (504) 619-1043
– email: email@example.com
Be sure to mention the following information:
– Your name
– Seminar topic
– A few date/time options
We look forward to taking our insurance knowledge to a meeting near you!