compliance

January 6, 2016

What To Expect From OSHA In 2016

While it is difficult to predict exactly how OSHA will proceed in 2016, there are a number of changes in the regulatory arena as well as new initiatives that are important guides for employers: Significant Increase in Fines For the first time in a quarter of a century, OSHA can increase the maximum penalty amounts it imposes on employers that violate occupational safety and health standards under a provision in the Bipartisan Budget Act signed into law November 2, 2015. The Act requires OSHA to implement the new maximum penalties in two phases: An initial catch-up adjustment; and An ongoing subsequent adjustment period The one-time catch-up will increase penalties to reflect the changes in inflation from 1990 – 2015. Current estimates using October 1990 to […]
June 1, 2017

Why Do I Need Fiduciary Liability Insurance?

Fiduciary Liability Insurance What is Fiduciary Liability Insurance? Fiduciary Liability Insurance pays, on behalf of the insured, legal liability arising from claims for alleged failure to prudently act within the meaning of the Pension Reform Act of 1974. “Insured” is variously defined as a trust or employee benefit plan, any trustee, officer or employee of the trust or employee benefit plan, employer who is sole sponsor of a plan and any other individual or organization designated as a fiduciary. Group life and medical expense plans, as well as pension and retirement plans, are within the scope of the law. Two other types of coverage are related to fiduciary liability insurance. • Fidelity bonds are required by law (ERISA bonding). This is a form of insurance […]