At the start of year-end reporting season, businesses can find themselves facing many questions about forms and deadlines. With the introduction of the Affordable Care Act in 2014, the waters got even muddier.
Greatland Corporation, an expert in forms and reporting, has developed a helpful outline for businesses facing reporting questions.
• If your business employs 50 or more full-time equivalent employees and is self-insured, you need to file Form 1095-C Parts I, II and III.
• If your business employs 50 or more full-time equivalent employees and you are NOT self-insured, you need to file Form 1095-C Parts I and II only.
• If you are a self-insured employer with less than 50 full-time equivalent employees, you are required to file Form 1095-B, Parts I, III and IV.
To view the multimedia release go to:
https://www.multivu.com/players/English/8218651-greatland-corporation-year-end-tax-reporting-advice/
Flooded vehicles have finally stopped arriving at the Royal Purple Raceway east of Houston. Some 23,000 now await processing and retitling to be auctioned off for parts or to be scrapped. That is just one of several insurance industry salvage locations where more than 422,000 insured vehicles damaged by Harvey have been taken for processing. According to the National Insurance Crime Bureau (NICB), these totals surpass the number of claims that resulted from Hurricane Katrina (approx. 300,000) and from Superstorm Sandy (250,500).
In addition, more than 215,000 claims have been filed following damage to vehicles from Hurricane Irma in Florida.
These insured vehicles will be processed and rebranded with a salvage title and sold at online auctions to dismantlers who will save usable parts or have the vehicle crushed and sold for scrap.
To view the multimedia release go to:
http://www.multivu.com/players/English/76652512-nicb-reports-record-number-of-hurricane-flooded-vehicles/
Unprecedented planning by state and local authorities, law enforcement and the insurance industry established what is being called a national model for protecting the public from fly-by-night contractors in the aftermath of a natural disaster.
According to the National Insurance Crime Bureau (NICB), preparation in advance of the F-5 tornado that devastated the city of Moore and surrounding areas in May 2013 resulted in a well-coordinated effort to ensure that roofers and other contractors who swarmed into the area in the hours and days after the storm were properly licensed, insured and authorized to work in the area.
Local police assisted the Oklahoma Insurance Department Fraud Unit in patrolling the area and keeping suspected fraudulent out-of-state contractors from doing work unless all protocols were followed.
To view the multimedia release go to:
http://www.multivu.com/players/English/7665251-nicb-limited-fraud-following-2013-moore-tornado/
The recent flooding in Texas means the end of the road for an estimated 7,000 to 10,000 insured vehicles that suffered water damage.
That’s the current estimate from Copart, a company that works on behalf of insurers to handle the vehicles damaged in catastrophes. About 2,500 cars, trucks, motorcycles, RVs and other vehicles have already been towed to one of Copart’s locations, a 200-acre processing facility in Houston.
After a disaster, the National Insurance Crime Bureau (NICB) works with its member companies, law enforcement and companies like Copart to identify the vehicles that have had an insurance claim filed and to process them for sale. All of the cars will be retitled with the Department of Motor Vehicles and the new title will indicate the fact that the vehicle has been flood damaged. Most of the vehicles are sold to parts companies who will dismantle them and re-sell usable parts that were not damaged by the flooding.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7523152-nicb-texas-floods/
Since 1984, the National Insurance Crime Bureau (NICB) has published annual reports—known today as Hot Spots—that examine vehicle theft at the national and local level. NICB was originally established in 1912 as the Automobile Protective and Information Bureau and the company focused exclusively on recovering stolen motor vehicles that were insured by its 11 member insurance companies.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/70506511-nicb-national-insurance-crime-bureau-annual-vehicle-theft-hot-spots-report/
A new online survey shows just how difficult life insurance conversations can be. Parents would rather talk to their children about drugs/alcohol, religion and politics before life insurance, which is a topic only slightly more comfortable than sex/puberty. The survey also shows parents are the primary source for initial conversations about life insurance. This topic avoidance might be one reason that 22 percent of Americans feel they are not at all knowledgeable about life insurance. The State Farm survey, conducted by Harris Interactive among over 2,000 U.S. adults also revealed a gap in Americans’ knowledge of life insurance and general misconceptions about the benefits life insurance provides to those who are insured.
To view Multimedia News Release, go to http://www.multivu.com/mnr/56798-state-farm-survey-life-insurance-benefits-policy-family-bucket-list-liam
Yellow Checker Cab Company, Inc. has connected passengers with trusted taxicab operators since 1938.Yellow Checker Cab’s Connect2Taxi call center will connect you to a licensed & insured taxicab in your area.
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No other natural catastrophe impacts as many people as flooding, with an estimated 500 million people affected every year. Insured flood losses are also increasing significantly; 1970's annual claims were between USD 1–2 billion, whereas insured flood losses amounted to USD 15 billion in 2011. Recent flood events in Thailand, Australia and the Philippines have shown that floods are now rivalling earthquakes and hurricanes in terms of economic losses.
However, awareness of flood risks and their impact is still relatively low. Swiss Re's publication Flood – an underestimated risk aims to close this knowledge gap.
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/prne/swissre/56573/
Travel Insurance also know as Visitors Insurance is a insurance that is intended to cover medical expenses and financial (such as money invested in nonrefundable pre-payments) and other losses incurred while traveling, either within one's own country, or internationally. Student travel, adventure travel, business travel, cruise travel, leisure travel, and international travel are all the options that can be insured through MatrixIA
An early crop of advanced crash avoidance technologies includes some clear success stories when it comes to preventing crashes, insurance claim analyses by the Highway Loss Data Institute (HLDI) show.
Forward collision avoidance systems, particularly those that can brake autonomously, along with adaptive headlights, which shift direction as the driver steers, show the biggest crash reductions. Lane departure warning appears to hurt, rather than help, though it’s not clear why, and other systems, such as blind spot detection and park assist, aren’t showing clear effects on crash patterns yet.
HLDI analysts looked at how each feature affected claim frequency under a variety of insurance coverages for damage and injuries. Clear patterns were seen in claims under property damage liability (PDL) insurance, which covers damage caused by the insured vehicle to another vehicle, and collision insurance, which covers damage to the insured vehicle. Frequency is measured as the number of claims relative to the number of insured vehicle years. An insured vehicle year is one vehicle insured for one year, two vehicles for six months, etc. The model years of the vehicles included ranged from 2000 to 2011, depending on when an automaker introduced a feature. Insurance data through August 2011 were used.
The National Credit Union Administration (NCUA) today announced the launch of a new national campaign designed to educate consumers about the benefits and purpose of the National Credit Union Share Insurance Fund (NCUSIF), the federal fund which insures member deposits in federally insured credit unions. The
