Annual Insurance Review

Maintaining Compliance, Optimizing Coverage, Securing Protection

Businesses are constantly evolving, experiencing growth in some areas and contraction in others. This dynamic nature can lead to situations where they are underinsured, over insured, or simply have the wrong type of coverage.

Recognizing that insurance needs are both time-sensitive, requiring annual reviews, and event-driven, triggered by fluctuations in personnel or assets, outsourcing can provide scalable availability as well as unbiased needs assessments.

Compliance with possible federal, state and local regulations is yet another pivotal concern.

The recently enacted FY24 budget (Chapter 28 of the Acts of 2023) mandates that the Group Insurance Commission (GIC) offer health insurance benefits to any new, eligible employee on the first day of the month following the employee’s date of hire, effective July 1, 2024.

Business Insurance Activities

  • Compliance check
  • Claims history review for needs assessment
  • Optimize for tax savings, factoring in tax deductions and credits associated with various insurance options
  • Premium optimization
  • Design benefit package to attract quality personnel. Navigate employee benefits. From health insurance to retirement plans, we’ll guide you through the complexities of employee benefits packages, considering both financial implications and employee satisfaction.
  • Ensure coverage reflects business fluctuations (ex. addition or deletion of capital equipment)

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