Every non-profit organization, irrespective of its mission, shares a common goal – to make the world a better place. This noble aim brings with it unique and specialized needs. In our ongoing effort to provide industry-specific insights into insurance buying decisions, we’re excited to announce the release of our 2023 Non-Profit Benchmark Report.
Today, let’s dive into the world of risk management in the manufacturing industry. In particular, I want to highlight the importance of gap, premium, and exposure analysis – a power trio that can significantly influence a company’s financial security and operational stability.
Kapnick Insurance recently held our 23rd Annual Human Capital Symposium. This all-day event, which was held at the beautiful Saint John’s Resort in Plymouth, MI, was designed to inspire and connect HR professionals.
In today’s digital age, organizations are increasingly turning to artificial intelligence (AI) to revolutionize their HR processes. Approximately 25% of companies now utilize AI for recruitment, hiring, performance evaluations, and retention determinations, according to the Society for Human Resources Management. While AI offers numerous advantages, such as improved efficiency, objectivity, and decision-making, it also brings forth challenges related to biases, transparency, and ethical concerns. This comprehensive article explores the pros and cons of incorporating AI into employment decision-making, highlights relevant laws and regulations for businesses to consider, and provides invaluable tips on mitigating AI-related risks.
In today’s digital age, our lives are interwoven with technology. From smart devices and online transactions to social interactions and remote work, we rely heavily on digital platforms. While this brings convenience, it also introduces new risks. Cybercrimes such as fraud, identity theft, data breaches, and cyberbullying have become increasingly prevalent. At Kapnick, we understand these challenges and are committed to ensuring your peace of mind in the digital sphere, including offer home cyber insurance coverage option to our clients. These solutions are designed to provide comprehensive protection against a wide range of cyber threats.
We are delighted to announce the strategic acquisition of Michigan Group Benefits! This transformative transaction represents a significant milestone in our growth plans, expanding our capabilities and solidifying our position in the group benefits industry. The acquisition will also expand our geographical footprint, as we will retain Michigan Group Benefit’s East Lansing office.
In the evolving landscape of construction, contractors often find themselves providing professional advice, straddling the line between design and construction. This shift has led to an increased exposure to professional liability, necessitating a closer look at Contractor’s Professional Liability Insurance. General liability insurance covers bodily injury or property damage resulting from negligence, but what about financial damages caused by negligent professional advice? That’s where professional liability insurance comes in handy.
The manufacturing sector is facing a significant labor challenge due to an aging workforce, skills gap, and gender disparity. To tackle these issues and ensure long-term sustainability, a holistic approach is necessary. At Kapnick, we understand the importance of addressing labor challenges comprehensively, and we have solutions.
HIGHLIGHTS The IRS has announced the affordability percentage that will apply under the ACA’s pay or play rules for plan years beginning in 2024. This percentage (8.39%) is a significant decrease to the affordability threshold. ALEs will need to consider this affordability percentage in developing their health plan contribution strategies for the 2024 plan year. ALEs may need to lower the amount employees have to contribute for 2024 to meet the lowered percentage. On Aug. 23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentage in 2024 for determining the affordability of an employer’s plan under the…
Kapnick is thrilled to announce the launch of our groundbreaking new apprenticeship program. This program reflects our dedication to fostering young talent in the insurance industry while also investing in the communities where they do business. “Although it may not be on many people’s list of dream professions, an insurance career is both rewarding and challenging,” said Mike Kapnick, Chief Operating Officer of Kapnick. “We’re excited to create this program as another outlet—alongside our well-established summer internship program—for emerging professionals to be exposed to an industry that values growth, innovation, and work-life balance. And one most might never consider otherwise.”