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Posts tagged as “Insurance”

Thinking about a PEO? Think Twice.

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While I am biased, as President of PayMaster, a payroll service provider, I do find the rare case for a business to utilize the services of a Professional Employer Organization (PEO) or Employee Leasing as it is sometimes referred to.  In my opinion, there are only two reasons for a business to utilize a PEO, and that is in regards to Health insurance and Workers’ Compensation insurance as we will discuss.   If the PEO route is the decision then I strongly recommend proceeding with caution and do your math, taking into consideration the big picture of the financial cost.  This not…

Legal Insurance. What is that?

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We carry health insurance for routine ‘maintenance’ and unforeseen events, auto and home insurance for unexpected property losses, but what about protection and assistance with the day to day situations that could require legal assistance? Review of an agreement or contract ♦ securing a mortgage ♦ collecting or settling a debt ♦ credit report issues ♦ probate ♦ bankruptcy ♦ immigration ♦ divorce ♦ preparing a will ♦ traffic citation ♦ marriage ♦ purchasing faulty merchandise/consumer protection ♦ notary services ♦ these are all situations where having an attorney would be of great value, but sometimes the cost can be discouraging from having the much needed legal assistance.  Studies have shown that 7 out of 10 people have experienced some sort of legal event in…

Florida Workers’ Comp Rate Increase 14.5%

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On October 6th, the Florida Office of Insurance Regulation issued a final order approving a 14.5% increase to its workers’ compensation insurance rates.  This increase apples to both new and renewed policies effective in Florida as of December 1st, 2016.   On the bright side, this is better news than the proposed increase by the National Council on Compensation Insurance (NCCI) of 19.6%. The underlying reason for the majority of this increase is due to a Florida Supreme Court ruling this past April (Castellanos v. Next Door Company) which found the mandatory attorney fee schedule per the Florida Statutes being unconstitutional as a…