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The Blog

Our latest insurance articles, insight and news.
Jan 20

The Benefit of Construction Wrap-Up Programs

By Business Insurance, Insurance Update
Construction projects often involve multiple contractors and operate on tight profit margins. For savvy owners and contractors, construction wrap-up programs offer a smarter way to manage risks, reduce expenses, and improve safety standards. By consolidating coverage under a single insurance program, wrap-up programs eliminate many of the challenges associated with traditional risk-shifting models. THE PROBLEM WITH TRADITIONAL RISK-SHIFTING MODELS The typical approach of shifting risk from owners to contractors or subcontractors through contractual agreements can lead to unforeseen consequences. Not only is this model more expensive, but it often results in liability disputes due to conflicting contractual provisions and insurance terms. These…
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Jan 13

Overlapping Programs and Gaps in Coverage – A Kapnick Case Study

By Business Insurance, Case Studies, Employee Benefits
Managing multiple insurance brokerages can lead to overlapping programs, gaps in coverage, and inefficiencies. A commercial and residential property developer faced these challenges with separate brokers for Employee Benefits, Private Risk Management, and Property & Casualty insurance. Kapnick stepped in to provide integrated insurance solutions for developers, streamlining their coverage and delivering innovative remedies. PRIVATE RISK MANAGEMENT: STREAMLINING COVERAGE The developer’s private risk management program had inadequate liability limits, uninsured assets, and overlapping coverage. Kapnick’s Solution: Consolidated the insurance program to simplify billing and renewals. Broadened coverage by transitioning to a high-net-worth specialist insurer. Conducted replacement cost assessments and eliminated coverage…
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Jul 26

Innovative Healthcare Plan Designs to Meet Your Employees’ Needs

By Employee Benefits
Rising healthcare costs are a challenge for both employers and employees. Premiums, doctor visits, and prescription expenses continue to climb, leaving employees searching for ways to manage unplanned medical costs. Fortunately, there are innovative employee healthcare solutions designed to protect employees’ health and savings while helping employers control costs. HSAs: EMPOWERING EMPLOYEES TO SAVE One popular consumer-driven option is pairing a high deductible health plan (HDHP) with a health savings account (HSA). This alternative to traditional health plans empowers employees to take control of their healthcare spending. Advantages of HSAs: Tax-free contributions, growth, and withdrawals for medical expenses Funds roll over annually…
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Jul 21

Stepping Off The Renewal Rollercoaster of Employee Benefits with Self-Insurance

By Employee Benefits
Designing an employee benefits program that meets your employees’ needs while supporting your company’s long-term growth and financial goals can feel overwhelming. However, Kapnick makes it easier. By offering strategies like self-insurance for employee benefits, we empower employers to take control of costs, manage risks, and achieve financial stability. THE ADVANTAGES OF SELF-INSURANCE AT RENEWAL TIME BEND THE COST CURVE Self-insurance allows employers to bend the cost curve downward. Instead of dealing with unpredictable annual increases, you can stabilize your expenses and plan more effectively. INVEST IN YOUR ORGANIZATION With self-insurance, you keep all the savings and interest income your program…
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Jul 19

Inclusive Benefits for a Multigenerational Workforce: Attract and Retain Top Talent

By Employee Benefits, From the Experts
Diversity is essential for attracting and retaining employees in today’s competitive job market. People value inclusive organizations that prioritize equal opportunity and embrace diversity in race, gender, sexual orientation, and age. To truly support a multigenerational workforce, employers must offer inclusive benefits for a multigenerational workforce that address the unique needs of employees at every stage of life. THE BENEFITS OF A MULTIGENERATIONAL WORKPLACE An inclusive workplace with employees of all ages brings a wealth of advantages, including: Varied perspectives and experiences that foster innovation. Opportunities for mentorship, with both mentors and mentees readily available. Reduced employee turnover, as employees feel valued…
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Jul 13

Angela Dean Named President of Employee Benefits at Kapnick Insurance

By Kapnick News
Kapnick Insurance is excited to announce Angela Dean as the new president of employee benefits. Angela will step into the role following Steve Peck’s retirement in December 2022. After a six-month, nation-wide search, Kapnick confidently selected Angela for her extensive experience and leadership skills. A LEADER WITH EXPERIENCE AND VISION Angela began her career at Kapnick in 2003 as a sales producer. Over the years, she consistently demonstrated her expertise and dedication. In 2019, she became one of the original 10 partners when Kapnick expanded ownership to top-performing colleagues. Most recently, she excelled as Partner, Benefit Sales Leader, where she…
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Jul 12

2022 Mid-Year Market Update

By Kapnick News, Market Forecast
The business insurance marketplace in 2022 continues to face challenges, but there is good news ahead. The rate of increases has slowed across almost all lines, and we anticipate rates softening as we move into 2023. Understanding 2022 business insurance market trends can help businesses navigate these challenges and prepare for what’s next. FACTORS DRIVING THE HARD MARKET The hard market businesses face today stems from several factors, including: A shortage of goods and rising inflation. Economic uncertainty and global events like the COVID-19 pandemic and the war in Ukraine. Catastrophic events leading to more frequent and severe claims. While rates are…
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Jul 11

Health and Wellness Improve Workplace Productivity

By Employee Benefits
Employee health and wellness are critical to workplace success. Healthy employees can focus their energy on work rather than health concerns, leading to increased productivity. At Kapnick, we offer employee health and wellness programs designed to improve and maintain the well-being of your workforce. These programs not only enhance employee health but also help reduce costs for employers.
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Jul 05

Protect Your Individual Assets with Private Client Insurance

By Employee Benefits
The cannabis industry continues to grow rapidly, offering innovative investors the potential for significant financial rewards. However, with great opportunity comes great risk. Protecting your individual assets is essential to securing your hard-earned success. At Kapnick, we specialize in cannabis industry asset protection, providing personalized risk management strategies and comprehensive insurance solutions tailored to your unique needs.
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