Straight From The Source Blog by Higginbotham Insurance


Recent Posts

Identity theft insurance: The crucial fifth pillar of financial wellness benefits

November 07 , 2018

GettyImages-Identity Theft Worried EmployeeNot so long ago, the term “financial wellness” didn’t even exist. But years of volatile markets, a rollercoaster economy and an increasingly informed public have all helped to make financial wellness offerings a staple in employee benefits packages. Financial wellness programs and advice have traditionally been built on four pillars: budgeting, saving for emergencies, eliminating debt and planning for retirement.

But in our world of e-commerce, online banking, digital wallets and multiple social media platforms, our automated lifestyle has made us all increasingly vulnerable to fraud and cybercrimes.

Identify theft is one of the fastest growing of them all, and the statistics are shocking. According to a study by Javelin Strategy & Research, more than 16 million people became victims of identity fraud in 2017. According to renowned money expert Clark Howard, there’s a new victim of identity theft every two seconds!

That’s why identify theft protection has become the fifth pillar of financial wellness.

In this day and age, employees have a host of financial stresses like budgeting, paying the rent, investing, paying for college and figuring out how best to use benefits such as 401(k)s and health savings accounts (HSAs). And for most, the threat of identity theft is getting higher and higher on the list of financial stresses.

Employers see it too. They see how distracted and unproductive employees can be when their minds are on personal money problems instead of work. And they know identity theft is on everyone’s mind.

With today’s threats, identity theft protection should play a crucial role in any financial wellness package.

New data breaches pop up constantly, and identity thieves are getting more sophisticated. If you want to help your employees protect their finances, reputation and identity, your financial wellness benefits should include identity theft protection. In fact, here are five reasons it should be an integral part of your voluntary benefits offerings:

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Tags: Employee Benefits

October 2018 Retirement Times

October 26 , 2018

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How do you monitor a Dash? Evaluating Cash Equivalent Funds

Ryan Hamilton, Investment Analyst

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Tags: Retirement Plans

Don’t let vacant property insurance become a ghoulish nightmare

October 24 , 2018


GettyImages-Vacant House

Halloween is just around the corner, and that means another season of ghosts, ghouls, goblins and other scary creatures. If you own property that’s currently vacant, the last thing you want from that property is a haunted house of insurance nightmares.

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Tags: Home & Auto

Safe driving alert: 10 autumn hazards

October 17 , 2018

GettyImages-Driving in Autumn Leaves

There’s something special about autumn. It’s a favorite time of year for millions with its cool, crisp air and the kaleidoscope of rich colors. It’s a time for wrapping up the yard work, digging out that favorite old sweater and sending the kids back to school.

But like any other season, autumn has its own unique driving hazards.

Here are 10 of the most common fall driving hazards that safe drivers watch out for:

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Tags: Home & Auto

How to communicate your total rewards program

October 11 , 2018

GettyImages-Employees Holding Talk Bubbles

Employee benefits are one of the key drivers that entice great people to join a company, be productive employees and develop long-term loyalty. But today’s employees want more than just health insurance.

They want personal and professional growth opportunities, career flexibility, collaborative work environments, volunteer days and an individualized balance of compensation and benefits. They want a diversified and personalized experience, and they want it neatly packaged and easy to understand.

This unification of work-life balance benefits is what the concept of total rewards is all about. However, offering a rich mix of work-life benefits isn't enough. The success of your total rewards program depends on how employees perceive your program’s value. How can you help promote positive perceptions? Through great communication strategies.

Here are seven communication tips to get you on the right track:

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Tags: Employee Benefits

October HR News Worth Review

October 04 , 2018


Medicare Part D Notices Due by Oct. 14

The deadline to distribute creditable coverage disclosure notices to Medicare-eligible individuals is only a few weeks away. If you have plan participants eligible for Medicare Part D, you must disclose to those individuals before Oct. 15 each year whether their prescription coverage through your group plan is as comprehensive as the benefits offered under Medicare Part D.

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Tags: Compliance

Indemnity and insurance disagreement in contracts

October 03 , 2018

GettyImages-Tearing Contract

Sometimes the insurance requirements of a contract aren’t in agreement with the indemnification provision. This can result from a simple error due to edits by multiple parties, or it can be an attempt to circumvent anti-indemnity statues – or even bury a provision that, in effect, is a broad-form indemnity. As we’ve discussed in previous posts, many states have enacted anti-indemnification statutes, making certain broad-form indemnifications void as against public policy. Any provision that attempts to circumvent an anti-indemnity statute will also be void, and a conflict between insurance and indemnity can lead to litigation. In this edition of our contract review series, we review some of the statutes that address those provisions and study examples so you can identify such a provision when you see it in a contract.

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Tags: Risk Management

September 2018 Retirement Times

September 27 , 2018

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Use Plan Analytics to Evaluate Your Retirement Plan

Your retirement plan is a valuable resource for your employees and serves as a vehicle to attract and retain top talent. Ensuring plan success is crucial. Examining plan analytics can help evaluate its success.

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Tags: Retirement Plans

Helping employees understand their health savings accounts

September 25 , 2018

GettyImages-Money Capsule

Don’t assume your employees understand their health savings accounts (HSAs). According to research conducted by Alegeus, 65 percent of HSA holders lacked the knowledge needed to pass a basic fluency test about their accounts. As a result, many people may be unable to maximize their benefits, leading to higher costs and more frustration than necessary.

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Tags: Employee Benefits

Preparing for an active shooter in the workplace

September 19 , 2018

GettyImages-Police Cars

Is your workplace safe from gun violence? In 2017, 61,839 incidents of gun violence, including 346 mass shootings, resulted in 15,637 deaths and 31,248 injuries, according to the
Gun Violence Archive. So far in 2018, there have already been 40,536 incidents. Data from the CDC shows that the number of homicides committed using firearms is on the rise.

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Tags: Risk Management


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