Annuities: What Are They and How Do They Work?

| posted in Blog

An annuity is a contract with an insurance company. The insurer promises to provide a certain stream of income – which could start immediately or at some point in the future – in return for your contributions, or premium. If the stream of income begins immediately, the product is called an immediate annuity. If the income stream is to commence at some point in the future, the contract is called a deferred annuity. Annuities vs. mutual funds Because annuities are contracts, they are very different products from mutual funds, which are simply baskets of securities run by a professional money…
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CoreMark dishes out awards for client services at its annual “EGPP” celebration!

| posted in Blog, Newsletter

Last month CoreMark had its annual “EGPP” celebration! “EGPP” refers to our service mantra and our commitment in delivering “Excellence, Value and Trust” to our valued clients. This occasion allows us to celebrate the accomplishments of our team’s #1 priority: meeting and beating our client service performance goals. Each year, the CoreMark owners review the prior year’s accomplishments, milestones, and goals as well as present profit-sharing checks to the our service team, only if we meet our client service goals, and based on individual performance metrics. Our EGPP celebration is a fun and creative way to keep everyone focused on the…
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Documenting Small Safety Incidents Key to Preventing Major Ones

| posted in Blog, Newsletter

Studies show that for every major workplace injury or fatality, there are nearly 10 minor injuries – and more than 30 accidents that lead to property damage. Capturing data even on minor incidents that may seem trivial in isolation can be critical in informing efforts to prevent much greater dangers in the future. A big part of that effort involves ensuring businesses maintain a complete set of data. Managers at all levels should focus on solid and thorough documentation. Here is where management’s main effort should be concentrated: Don’t ignore minor incidents. Document all of them. Even if you have…
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Top 10 Laws, Regulations and Trends for 2018

| posted in Blog, Newsletter

In this article, we focus on the top 10 laws, regulations and trends going into 2018 that employers need to be aware of. New Parent Leave Act Effective Jan. 1, 2018, employers in California with 20 or more workers will be required to provide eligible employees with 12 weeks of unpaid, job-protected leave to bond with a new child. This builds on a 20-year-old law that required only employers with 50 or more staff to provide employees with time off for child bonding. Like the current law, the New Parent Leave Act applies to newborns or a child placed with…
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Fall Protection Training Makes Debut on OSHA’s Top 10 Citations List

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There’s a newcomer to OSHA’s top 10 list of violations that it cites every year: Fall Protection – Training Requirements. While physical fall protection violations, like failing to install guard-rails or provide fall protection equipment, continue to feature at the top of the list, this is the first time that training requirements as a stand-alone category has made it onto OSHA’s preliminary list of most-cited violations has featured. The fact that OSHA has doled out so many citations for such training-requirement violations reflects its increasing commitment to reduce injuries and deaths from trips, slips and falls – the most common…
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Toilet Failure Is a Leading Cause of Residential and Commercial Water Damage

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Leaky plumbing fixtures and burst pipes are common reasons behind insurance claims for home and commercial water damage every year, but toilet problems stand out as one of the leading causes of serious water damage. That said, many toilet-related plumbing issues are preventable with regular maintenance and a watchful eye, which can take care of small problems before they turn into major ones. If a toilet is causing problems, call a professional immediately. The worst damages arise because a person does not call an expert, and water damage that may not be visible on the surface continues to spread and…
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Is Your Firm Protected for Libel and Slander under Your Business Policy?

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What would you do if your business got SLAPPed? SLAPP stands for “strategic lawsuit against public participation.” A business that gets SLAPPed has been sued for speaking out against or about a person or entity. In these actions, the plaintiff accuses a person or business of harming them by speaking out publicly with malicious intent. For example, small businesses in a village may protest plans to build a huge shopping mall nearby and in the process spread a false rumor about the developers. The owners of the proposed mall might sue them for alleged defamation – libel (written statements) or…
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Reference Pricing Can Reduce Medical Outlays, Costs

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In an effort to coax health plan participants to use price-shopping behavior when deciding on where to have a procedure, more insurers are starting to roll out a system known as “reference pricing.” With reference pricing, the health insurer imposes a limit on the amount it will pay for a particular procedure – a limit that is reasonable and allows access to care for patients. The price is usually a median or average price in the local market. When a health plan participant selects a provider that charges less than the cap, they will receive the standard coverage with little…
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The Opioid Crisis’ Effect on Your Business

| posted in Blog, Newsletter

The U.S. Centers for Disease Control and Prevention has reported that opioid prescriptions nearly quadrupled between 1999 and 2013. Prescription opioids include medicines such as Vicodin, morphine and methadone. Opioid addiction is a tragedy for individuals and their families, but it is also having a profound impact on businesses and organizations. Consider: An economist at Goldman Sachs reported in July 2017 that addiction to opioids is partly responsible for the failure of many prime working-age men to rejoin the workforce since the end of the Great Recession. The National Safety Council has reported that 39% of employers have experienced absenteeism…
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Five Tips for Streamlining Your Insurance Policy Audit

| posted in Blog, Newsletter

Are you due for a workers’ compensation premium audit? Audits are how insurance rates are determined, and it’s possible that an audit will uncover information that can actually save you money. Additionally, audits are important to make sure that your employee counts and job descriptions haven’t changed, so that the premium can accurately reflect your current operations. The audit can be stressful, but the key is preparation. These five tips can help you get ready: Tell your broker when there are changes in your staffing, payroll or areas of operation – This is important not just at audit time, but…
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