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Aircraft owners and pilots are typically mindful of their fixed costs and the effective management of these expenditures – including aircraft insurance. For more than a decade, aviation insurance rates have declined in an incredibly soft market. Increased capacity in the domestic market has been a significant driver of this trend. But the winds of change are here and the days of paying premiums at a fraction of what they were at the turn of the century are gone.

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Employees often feel pressure to minimize corporate travel costs. In an effort to save company dollars, many are turning to sharing economy services (such as Uber, Lyft and Airbnb). These collaborative consumption models allow peers to share their resources and time. They offer convenience and an average savings of 30% to 40% when compared to traditional hotel and cab services. Many people are using these options for personal travel, so it makes sense that they’d want to use them for business or corporate travel.

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Keeping up with the latest employee benefit news can be a job in itself. Benefit trends and regulations are constantly changing. Because they play such a vital role in attracting and retaining quality employees, it is crucial to stay on top of the most recent developments in this field.

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Now is the time to rethink your approach if your organization has not transitioned from a traditional compensation and benefits plan to a total rewards strategy. Historically low unemployment rates continue to create a competitive labor market, and the talent pool is rapidly changing as baby boomers retire and millennials join the workforce. In response to this staffing environment, employers are beginning to modify their total rewards strategies and offer things like chef-prepared meals, yoga classes, massages, student loan repayment programs, unlimited paid time off (PTO) and sabbaticals.

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Are you considering surrendering an annuity contract or purchasing a new one? Annuities have been the brunt of considerable criticism lately and consumers are getting mixed signals. There are TV commercials that joke that death is a better option than purchasing an annuity, but the fact is over $200 billion was deposited into annuity contracts in 2017. So who’s right? Is there a middle ground where sometimes annuities make sense while other times they don’t?

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On December 20, 2017, Congress enacted a far-reaching tax reform package called the Tax Cuts and Jobs Act (“the Act”). The good news is that the current law permitting nonqualified deferred compensation plans (NQDCPs), including Code Sections 409A and 457, was preserved. Many of the Act’s provisions affecting individual taxes are not permanent and are scheduled to expire after December 31, 2025, unless a future Congress acts to extend those provisions.

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Hurricanes.
Cyber attacks.
Flash floods.
Mass power outages.
We live and work in a world where catastrophic events happen and businesses are forced to close down for days, weeks, months – sometimes longer. To avoid a massive loss that could permanently close your doors, you need a solid disaster recovery plan.

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Clients often ask us how they can lower their property and casualty insurance premiums. Some feel these costs are semi-fixed and out of their control. Many believe the best time to get lower premiums is during their annual renewal, but there’s more to it than shopping for a bargain price on insurance once a year. The best place to start is with a comprehensive business risk assessment.

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Does your workplace safety program include an incentive structure? Employers have been using them for years to encourage safe behaviors and reduce violations, injuries and accidents, but recent Occupational Safety and Health Administration (OSHA) memos have left employers confused about the compliance points related to these programs.

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After college and four years in the Navy, I returned to Nelson Insurance Agency in 1965. The Firm my father and mother started in 1945 had grown  to 10 Associates. Those early years had been a struggle against established local competitors. My father’s  education as an attorney had given him a technical mind, and that, coupled with his dynamic personality, allowed him to find unique solutions to clients’ insurance needs.

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