Insurance

February 12, 2018

UNITEL Client Spotlight: Lynxx

1. Brief description of your operations Lemonweir Valley Telephone Company was established in 1907 with the purpose of bringing telephone service to residents, farmers and various businesses in the rural areas of Juneau County, Wisconsin.  The company was originally named New Lisbon Mutual Telephone company.  The name was changed in 1931 to Lemonweir Valley Telephone Company.  It is a stockholder owned company with many of the stockholders’ families having owned stock for multiple generations.  Today there are more then 200 shareholders.  As the company has grown over the years, Lemonweir Valley Telephone and LVT Corp (a subsidiary of Lemonweir Valley Telephone Company) created a DBA named Lynxx Networks.  This name reflects both the local fiber network connecting its residential and business customers and the external […]
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 […]
December 30, 2015

Current State Of The Work Comp Market: Turbulence

Every year, Stephen Klingel, president and CEO of the National Council on Compensation Insurance, Inc. (NCCI), chooses one word to define the current state of the workers’ compensation industry. This year, that word is Turbulence. It’s a word that does not emote confidence; rather, it conveys turmoil, unrest, and instability. Not comforting for employers. Speaking at NCCI’s 2015 Issues Symposium in May, Mr. Klingel noted: Lost time claims decreased an estimated 2% in 2014, which is a smaller decrease than the 2.9% reported in 2013. “Our industry runs in cycles.Watch for upward pressure on claim frequency from new workers in unfamiliar jobs.” The workers’ compensation sector should prepare for “difficult times” as “workplaces and the workforce evolve.” “We are going to see employee relationships with […]