Scott Insurance
Scott Insurance
Blog Post
  • The White House made two major announcements regarding healthcare yesterday. First, President Trump issued an executive order titled “Promoting Healthcare Choice and Competition Across the United States” and then late last night it was announced that the CSR (cost-sharing reduction) payments from the government to insurance companies would cease immediately.   Trump’s Executive Order The executive...

Scott Insurance
Scott Insurance
Blog Post
  • Most businesses and individuals in the U.S. are experiencing considerable rate increases on auto coverage due to significant losses in the market. In 2016, carriers experienced a 13% spike in auto losses – their worst underwriting performance for the line since 2001 – and S&P projects that auto losses will increase by another nearly 7% […] The post The Current State of Auto Coverage appeared first...

Scott Insurance
Scott Insurance
Blog Post
  • Tuesday afternoon Senate Majority Leader Mitch McConnell announced that they would not vote on Graham-Cassidy, effectively ending the GOP’s hopes of repealing and replacing the Affordable Care Act (ACA) this year. Graham-Cassidy, which was thought to be a non-starter just a couple of months ago, picked up significant steam in the last few weeks as […] The post McConnell Pulls Plug on Latest ACA Re...

Scott Insurance
Scott Insurance
Blog Post
  • It is no secret that healthcare costs are steadily increasing creating a significant burden for employers offering healthcare benefit plans. By analyzing claims data, we can uncover the trends that are driving these costs. Once we understand the data behind the costs, we can identify opportunities to respond and gain control.  Pharmacy Trends Pharmacy spending […] The post Trends Driving Increased...

Scott Insurance
Scott Insurance
Blog Post
  • When making decisions about your employer-sponsored healthcare benefits strategy, it is critical to compare your benefit plans to those offered by other employers of a similar size. Benefits benchmarking allows you to remain competitive from a talent acquisition perspective and can uncover opportunities for improvement in the midst of the chaotic healthcare landscape. Each year, […] The post Mid-M...

Scott Insurance
Scott Insurance
Blog Post
  • The once-popular television crime documentary 48 Hours got its name from a law-enforcement principle that the most critical time in solving a homicide case is the first 48 hours. In short, a case can go “cold” quickly, placing a premium on a swift, thorough and well-orchestrated response by investigators. A similar dynamic is present in […] The post ACE-Navigator: Support for Your Workplace Injury...

Scott Insurance
Scott Insurance
Blog Post
  • When it comes to explaining the need for various types of coverage to a client, we are often stuck using hypothetical scenarios. Recent developments in North Carolina’s Outer Banks provide a real-time example of a sometimes confusing coverage, business income. On July 27, PCL Construction drove a steel casing through an underground cable that supplies […] The post Service Interruption and Business...

Scott Insurance
Scott Insurance
Blog Post
  • Around 1:30 a.m. on Friday morning, in a surprising vote, Senator John McCain walked to the dais of the Senate and uttered one word, “No.” There were gasps on the Senate floor as Susan Collins (R-Maine) and Lisa Murkowski (R-Alaska) had already voted against the skinny repeal bill that had appeared to be gaining traction with GOP […] The post Skinny Repeal Bill Fails in the Senate appeared first o...

Scott Insurance
Scott Insurance
Blog Post
  • The economic impact of affordable housing at the local level is significant. In fact, the development of affordable housing in communities has many short- and long-term economic benefits. This industry combines the investment potential of real estate development with the mission of helping low- and moderate-income individuals and families, while impacting the local economy through […] The post Aff...

Scott Insurance
Scott Insurance
Blog Post
  • This afternoon the Senate voted to move forward on debate of the healthcare bill. It’s important to note that this vote only allows the Senate to move on to debate and doesn’t pass any particular version of a healthcare bill.  There is still much discussion and confusion around exactly what happens next. Many in DC […] The post Senate Votes Yes on Motion to Proceed appeared first on Scott Insuranc...

Scott Insurance
Scott Insurance
Blog Post
  • Today’s merger and acquisition (M&A) landscape is hyper active. In 2016 alone, there were more than 12,000 M&A deals in the U.S. These opportunities often create significant financial opportunity for the purchasing and selling entities. Alternatively, during the same period corporate bankruptcies totaled over 46,000, revealing that many companies are facing significant difficulties. Both M&A […] T...

Scott Insurance
Scott Insurance
Blog Post
  • The OSHA electronic reporting rule requires certain establishments to report information electronically from their OSHA Forms 300, 300A and 301. The rule also requires OSHA to create a website that can be used to submit the required information. Under the rule, the first reports were due by July 1, 2017.  However, on a recent update […] The post OSHA Electronic Reporting Delay appeared first on Sc...

Scott Insurance
Scott Insurance
Blog Post
  • Last night (Monday, July 17) Senators Jerry Moran and Mike Lee simultaneously released statements that they would not vote to proceed to debate on the Better Care Reconciliation Act (BCRA). With Senators Rand Paul and Susan Collins already in the “no” column, this announcement made it clear to Majority Leader Mitch McConnell that he would […] The post Lee and Morgan Announce Opposition to BCRA; Mc...

Scott Insurance
Scott Insurance
Blog Post
  • The Senate released an updated draft of the Better Care Reconciliation Act (BCRA) on Thursday, July 13, 2017. To view the full text of the bill, click here. To view the updated section by section summary, click here. There were a few major changes to the original draft issued on June 22, including:   •  The […] The post Senate Releases Updated BCRA Draft appeared first on Scott Insurance.

Scott Insurance
Scott Insurance
Blog Post
  • If you drive a vehicle, you are required by law to have personal auto insurance. But why do we need it? Consider hitting a car and injuring three passengers. If both your vehicle and the other vehicle are valued at $20,000 and considered total losses, and each passenger has medical claims of $20,000, this quickly […] The post What Drives Personal Auto Insurance Rates? appeared first on Scott Insur...

Scott Insurance
Scott Insurance
Blog Post
  • On Thursday, the Senate released a “Discussion Draft” of the Better Care Reconciliation Act (BCRA).  Click here to view the draft.  At this point, the bill is still open for amendments and awaiting a CBO score at the beginning of next week. This means that the contents of the existing draft bill will most likely […] The post Senate Releases Draft Health Care Bill appeared first on Scott Insurance.

Scott Insurance
Scott Insurance
Blog Post
  • Businesses of every size and in nearly every industry are facing increasing cyber risk. Cyber threats that seemed far-fetched for many companies only a few years ago are very real today – as evidenced by the recent WannaCry ransomware attack that spread to over 150 countries last month. Results from the 2017 Cyber Risk Survey […] The post Cyber Risk: What Is Your Company Doing About It? appeared ...

Scott Insurance
Scott Insurance
Blog Post
  • This is the third installment in our three-part video series sharing highlights from the Business North Carolina 2017 Healthcare Round Table event that Scott Benefit Services hosted in April.  In this video, Sean Willoughby-Ray, Benefits Practice Lead/Vice President, discusses the strength of the healthcare landscape in North Carolina.  Did you miss the previous videos in […] The post The Healthca...

Scott Insurance
Scott Insurance
Blog Post
  • Property and Casualty (P&C) insurance tends to be one of the most important items that businesses review on an annual basis. At Scott, our clients often ask us to predict how their insurance costs will change each year. While no two businesses are exactly alike and many factors go into the pricing of insurance policies, […] The post Property & Casualty Market Outlook 2017 appeared first on Scott I...

Scott Insurance
Scott Insurance
Blog Post
  • After months of hand wringing and arm twisting, the GOP goal of repealing and replacing the Affordable Care Act (ACA) passed its first legislative test today in the House of Representatives.  The American Health Care Act (AHCA) was narrowly approved by the House today in a vote of 217-213.  The bill received no democratic support. […] The post American Health Care Act passes the House, faces uphil...

Scott Insurance
Scott Insurance
Blog Post
  • The video below is the second installment in our series sharing highlights from the Business North Carolina 2017 Healthcare Round Table event that we hosted in our Greensboro office last month.  The full discussion is featured in the May issue of Business North Carolina Magazine. In this video, Sean Willoughby-Ray, Benefits Practice Lead/Vice President, discusses […] The post The Healthcare Landsc...

Scott Insurance
Scott Insurance
Blog Post
  • When a technology company was hit by a Distributed Denial of Service (DDoS) attack by a hacker who had gained control of one of its critical control panels, it was asked to be paid in exchange for returning control to its operations. The company chose not to comply with the extortionists and instead worked to […] The post Protect Your Business from Cyber Extortion appeared first on Scott Insurance...

Scott Insurance
Scott Insurance
Blog Post
  • Last month, Scott Benefit Services hosted the Business North Carolina 2017 Health Care Round Table in Greensboro.  Sean Willoughby-Ray, Benefits Practice Lead/Vice President, along three other healthcare industry professionals representing Premier Inc., The Brody School of Medicine at East Carolina University, and Blue Cross and Blue Shield of North Carolina, shared insights into the future […] Th...

Scott Insurance
Scott Insurance
Blog Post
  • Since Electronic Surety Bonds (ESBs) were launched by the National Multistate Licensing System and Registry (NMLS) in September 2016, many professionals in the mortgage and financial services industries are now required to use ESBs.   Thankfully, this process is much more convenient and efficient than traditional paper surety bonds. With the addition of the Oregon Division […] The post NMLS Electr...

Scott Insurance
Scott Insurance
Blog Post
  • Around 3:30 p.m. on Friday House Speaker Paul Ryan came to the conclusion that the GOP didn’t have the votes in the House of Representatives to pass the American Health Care Act (AHCA) and pulled it off the floor prior to a vote.  This outcome came after a very tumultuous three weeks for the AHCA […] The post AHCA Pulled Prior to Vote, ACA Remains appeared first on Scott Insurance.

Scott Insurance
Scott Insurance
Blog Post
  • OSHA has issued its final rule on Walking-Working Surfaces and Personal Fall Protection Systems to better protect workers in general industry from slip, trip and fall hazards. The final rule updates and clarifies standards and adds training and inspection requirements. The final rule became effective on January 17, 2017; however, OSHA is allowing delayed or […] The post OSHA Final Rule: Walking-Wo...

Scott Insurance
Scott Insurance
Blog Post
  • Last night, Republicans in the U.S. House of Representatives released their proposed repeal and replacement bill, called the American Health Care Act.  The proposed legislation is a two-part bill, one coming from the Ways and Means Committee, and the other from the Energy and Commerce Committee. Most notable for employers, the proposed legislation repeals the […] The post GOP Releases The American...

Scott Insurance
Scott Insurance
Blog Post
  • Each year, the National Transportation Safety Board (NTSB) releases a list of their “Most Wanted” safety improvements. The 2017-18 list includes several recommended improvements that are directly related to the work of petroleum marketers. In my experience working with multiple petroleum marketers, I have seen the negative business impacts that a work-related accident or injury […] The post Safety...

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