Overall Workers Compensation rates are going up in New Jersey effective 1/1/12. Roughly 6% for all classes and 8% for construction specific. Attached please find our complimentary construction related rate comparison sheet. If you afford any of the attached classes and do contracting work in NJ you need to plan and bid future work appropriately. Rate increase for other lines of coverage may not be too far away.
Now is a particularly important time to conduct an extensive analysis of your Workers Compensation Program. Identifying where claims are occurring, what type of injuries are prevalent and reviewing policies and procedures are all crucial in helping to reduce the impact of the 2012 rate increase.
William H. Connolly & Co. has the experience and acumen to assist your facility in managing the impending increase and the impact on your program. We look forward to the opportunity to meet and discuss these issues in more detail. Thank you for your consideration.
The push for shared patient information designed to improve care and reduce medical errors along with Federal subsidies and potential penalties is fueling increased adoption of EMR. See this informative article from Beth Fitzgerald of NJSpotlight Dec. 16, 2011. www.njspotlight.com/stories/11/1216/0253/
Organizations are facing increased costs and declining revenue as a result of the current economic environment. For organizations that maintain full service contracts with original equipment manufacturers, there are significant opportunities to consolidate contracts, improve cash flow, and reduce costs. By consolidating equipment service and repair under one program, we put companies in control of their costs, program administration, and delivery of services. Our approach blends a self-managed deductible with a stop loss contract that guarantees a minimum annual savings, and a maximum cap on annual expenditures. Any portion of the deductible that is not spent equates to additional savings.
Comprehensive equipment service and repair program that puts you in charge of your equipment maintenance spending.
Self Insured Retention or First Dollar Programs will generate 15%-30% savings over full service contracts.
Retain your current vendors, and/or be reimbursed for in house staff providing maintenance and repairs.
Online access to all service and repair information in real time.
Equipment procurement and engineering support is included.
Healthcare and Hospitals, Higher Education, Municipalities and Schools, Real Estate Portfolios, Banking and Financial Institutions and Manufacturing to name a few.
Bryan Marks or Peter Koppisch at 973-744-8500
William H. Connolly & Co., LLC serves the insurance needs of a large and diverse group of businesses, not-for-profit institutions, professional services and individuals. Our investment in information technology has extended our reach to serve clients not only in the metropolitan area but around the world. Our technological services staff keeps us on the cutting edge of our industry, enabling us to serve our local and international clients most efficiently.
Aggressive and innovative in our pursuit of the solutions to insurance and risk management problems, William H. Connolly & Co., LLC is widely recognized for our expertise in complex Employment Practices Liability, Directors and Officers Liability, and Workers Compensation issues. Because we are among the largest producers placing business with both national insurance companies and strong, regional carriers, we negotiate from a position of strength for our clients.
Though we are located in New Jersey, we specialize in insurance services throughout the New York, New Jersey, and Pennsylvania area. We now march into 2012 with a new look and feel, carrying the strengths of the old site into a new layout. Visit our new site and you will find a reorganization to emphasize our current New Jersey business insurance and personal insurance solutions, including:
Biotech organizations have unique and complicated insurance and risk management needs. Whether you are a developing company in start-up mode or you have a product on the market, an experienced hand is necessary in successfully optimizing coverage for New Jersey biotech insurance, New York biotech insurance, or Pennsylvania biotech insurance. Obtaining risk transfer solutions is important whether you are a CRO, a device or component manufacturer, an inventor, or a member of the Pharmaceutical industry. This can prove challenging without extensive knowledge of the business and its associated risks.
We pride ourselves on our abilities to develop an insurance and risk management program that will service you well today with a structure that will transition you through your next round of capital, your launch, your IPO, and beyond. We understand what you do, we know what drives your industry, and we know what protections you need so you can focus on your goals.
As of September 2009, HIPAA (Health Insurance Portability and Accountability Act), and the subsequent HITECH Act (Health Information Technology for Economic and Clinical Health), new privacy and security requirements exist for protecting PII (Personal Identifiable Information). A new theory of liability was created, due to these federal requirements for all employers, Cyber Liability.
William H. Connolly & Co., LLC has been involved from the start with insurers in identifying and building Cyber Liability programs designed to meet the liability exposures created by this theory of liability. In addition to Third Party Liability coverage, the typical Cyber Liability policy will cover the costs associated with a data breach. These data breaches can occur in a variety of ways. Data can be stolen by skillful hackers, siphoned off by malicious employees, or simply mislaid by a careless employee. Once a breach occurs an unprepared organization can find itself in a fire storm of controversy and bad publicity. Reputation damage and the financial implications for such exposures to loss can be devastating.
The coverages included in the typical policy include:
It’s crucial to leverage regional expertise in the the acquisition of these types of coverage. W. H. Connolly specializes in New York liability insurance, New Jersey liability insurance, and Pennsylvania liability insurance. Allow us the opportunity to determine the best program design to protect your assets and properly meet your financial needs.
Social services, not for profit and religious organizations present unique challenges when they are looking for Risk Management and Insurance programs. Churches and religious organizations, for example, often have significant property exposure including aging buildings, as well as high value artifacts. Our Property Team has a proven expertise in assessing the exposures, addressing concerns to prevent loss, and overseeing the claim adjustment process when there is a loss.
Claims related to liability exposures – New Jersey professional liability, directors’ & officers’ liability, and New Jersey employment practices liability – can have a serious impact on day-to-day operations of religious and social service agencies. Premise conditions and abuse allegations are among the most obvious liability exposures for some religious organizations. But transportation of clients and employee use of personal vehicles are also significant and common exposures. The supervision of volunteer positions, the protection of limited funds and allegations of discrimination are risks associated with employment practices liability or directors’ and officers’ liability coverage.
Our well-known expertise in these areas helps to protect organizations through New York, New Jersey, and Pennsylvania and those responsible for their operation. William H. Connolly & Co., LLC has extensive experience creating individualized Insurance and Risk Management programs for many religious and social service agencies. We are, of course, very attentive to the financial needs of not for profits but never sacrifice the quality of coverages we recommend.
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