A new bill hailed as the most comprehensive workers’ compensation legislation in the last twenty years was recently signed into law in Minnesota. Following both houses’ unanimous approval, Governor Mark Dayton also gave the bill his signature on May 20th.
The bill, H.F. 3878, included recommendations from the Workers’ Compensation Advisory Council, a group comprised of appointed representative as well as the presidents of the largest statewide Minnesota business organization and the largest organized labor association. Supporters of the bill believe it will help improve the system’s administrative process, and directly benefit employers, health care providers and injured workers.
At a high level, the following changes will be enacted as a result of the bill’s passage:
The maximum number of weeks of TPD benefits eligibility has increased from 225 weeks to 275 weeks
The PPD benefits schedule has been increased
PTD benefits eligibility has increased from age 67 to age 72
These changes will go into effect for injuries on or after October 1st, 2018. If you have question about how the new legislation will impact your business, please contact your local Hays representative or email us at firstname.lastname@example.org.
To view the complete language for 2018 Minnesota Sessions Laws Chapter 185—H.F.No.3873, please click here.
Hays Companies is pleased to announce that our Minneapolis office, which is also the location of our corporate Headquarters, was named the largest insurance brokerage in the Minneapolis/St. Paul metro area (also known as the Twin Cities) by the Minneapolis/St. Paul Business Journal.
The publication, which is amongst the most prestigious business news outlets in the state of Minnesota, surveyed offices located within the 24-county metro area. For businesses that are headquartered in the Twin Cities, such as ours, results were based on companywide revenue for all operations as well as the number of employees.
We’re especially honored by this recognition as it not only reflective of our growth as an organization, but also the continued support of the community in which we were founded.
Brian Squire, Managing Executive Senior Vice President at Hays Companies, recently sat down with Lisa Miller on her Podcast “The Florida Insurance Roundup” to lend his insights on the National Flood Insurance Program (NFIP) as well as strategies on how to navigate it as a Florida resident.
Congress continues to debate how to reform the beleaguered National Flood Insurance Program (NFIP) that 1.8 million Floridians depend on for their property flood protection. Congress must also reauthorize the program because without it federally-backed home mortgages which require flood coverage for high-risk zoned properties may be at risk. The taxpayer-subsidized NFIP is $25 billion in debt and relies on old flood data and maps, with rates that do not match risk. Congress is considering reauthorization under a package of reform bills called the 21st Century Flood Reform Act.
Podcast Host Lisa Miller, a former Florida deputy insurance commissioner, explores two key reforms on this program: what to do with grandfathered properties that are still enjoying 1960’s-era premiums and riddled with repetitive losses, and how best to encourage private flood insurance market alternatives. It is estimated that 77% of Florida properties would see lower premiums with private market policies.
Joining Lisa are presenters Brian Squire, Managing Executive Senior Vice President at Hays Companies in Destin, Florida and Helen Devlin, Senior Lobbyist with the National Association of Realtors in Washington D.C. Together, they outline what is at stake for Florida NFIP policyholders and ideas on how best to balance flood insurance affordability with NFIP sustainability, without hurting Florida’s growing real estate market.
Hays Companies was named one of the Top 25 Property/Casualty Agencies in the United States by the Insurance Journal, a leading industry publication for the Property/Casualty arena. The list is based on total revenue for 2017 and is comprised of agencies focused on retail policies.
Per the Insurance Journal, the list is indicative of “the nation’s most successful independent insurance agencies and brokerages.”
Hays Companies ranked 22nd this year, after experiencing $90,300,000 in total Property/Casualty revenue. This is the 25th year of consecutive growth for Hays.
“Our customers are at the center of everything we do,” explained Jim Hays, CEO of Hays Companies. “Each year, we are growing organically and extending our reach to better meet the needs of our clients. We will continue to be an industry leading company by going above and beyond to ensure we are the broker of choice for our customers.”
Hays Companies is pleased to announce that they were recently named as the 22nd largest insurance broker in the United States by Business Insurance Magazine. This is the 25th year of consecutive revenue growth for Hays Companies.
Hays’ 2018 ranking is reflective of the entrepreneurial spirit on which they were founded and was an increase from their 2017 standings (for which they were ranked #23). As a privately-held organization, Hays’ organic growth has been entirely accomplished by their team of experienced professionals.
Of Hays’ explosive trajectory, CEO Jim Hays said “We have continued our growth by investing in our people and building client-focused teams. Our business model encourages creative, out-of-the-box solutions that allow us to adapt quickly to the evolving needs of our clients.”
The list, which is generated annually, ranks the 100 largest insurance brokers in the country by revenue for all U.S. based clients in the previous calendar year. Hays Companies’ 2017 brokerage revenues of $197,600,000 were up 2.2% over the 2018 fiscal year.
For almost a decade, Hays Companies has built a strong partnership with Habitat for Humanity to combat homelessness and provide affordable housing for families within the communities where we work and live.
This month, Hays team members assisted with building a Habitat for Humanity home in St. Paul, Minnesota. Of the experience, Robert Rangel, Hays Companies’ Director of Claims Management and Volunteer Committee Chair said, “It was a fulfilling day for our team. It’s not every day you have the opportunity to learn how to construct a garage and build a roof with your colleagues. We were grateful to be out in the community together giving back to a wonderful organization.”
One of Hays Companies’ core values is being impactful and contributing to the communities we serve. Habitat for Humanity is a great outlet for employees to live out this value by volunteering. “We encourage our employees to get involved with organizations in the community that they’re passionate about. Habitat for Humanity is an organization with a mission that Hays’ employees believe in,” stated Chief Executive Officer, Jim Hays.
Hays Companies of Kansas City is proud to announce that Bruce Lyon, Vice President and Director of Risk Management, was honored by the Board of Certified Safety Professionals with the 2018 CSP Award of Excellence.
A leader in high quality credentialing for safety, health and environmental practitioners, the Board of Certified Safety Professionals (BCSP) was founded in 1969. Since then, they have grown to be recognized as the leader in credentialing for practitioners in the safety, health, and environmental industries. Their highly prestigious Award of Excellence is awarded to top practitioners that embody outstanding leadership, deep industry knowledge and a strong commitment to advancing safety excellence.
Lyon has over 37 years of experience in the insurance and consulting fields and continues to be a passionate advocate for the advancement of the safety profession. He currently serves as Advisory Board Chair to the University of Central Missouri (UCM) Safety Sciences program as an active collaborator with the faculty, a frequent lecturer and mentor.
Additionally, Lyon is Vice Chair of the ISO 31000 Risk Management standards US Technical Advisory Group (US TAG), a member of the ANSI/ASSE Z590.3 Prevention through Design standard review committee, and a subject matter expert in the development of the Board of Certified Safety Professionals’ (BCSP) Safety Management Specialist (SMS) certification.
To learn more about the Board of Certified Safety Professionals and the other Excellence Award recipients, please click here.
We are pleased to announce the upcoming Hays Companies Webinar schedule for the second half of 2018. Registration information for each webinar, actual dates and complete details will be made available closer to the event. Please reach out to your Hays Companies representative with any questions.
Topics and dates are subject to change due to unforeseen circumstances. Note: additional webinars may be added due to legislative changes, rulings, guidance or other developments impacting employee benefits.
Interested in attending one of our webinars? Submit the form below to be notified when registration opens.
Hays Companies of Wisconsin is pleased to announce that Andrew Williamson has joined the Benefits Practice, where he will focus on employers with under 200 employees. Williamson brings 15+ years of consulting and brokerage experience with similarly-sized employer groups.
“Our unique tools and industry-leading talent have led to expansive growth in our core business segment that focuses on larger employers,” said Dan Robinson, Executive Vice President of Hays Companies. “We are excited to share the tools and resources with middle market employers with under 200 employees. With Andrew’s leadership, we expect to positively redefine the value that employers of this size in Wisconsin can expect from a benefits advisory partner.”
Hays Companies is one of the fastest growing, privately-held risk management, insurance and employee benefits advisors in the country. Our philosophy of delivering the highest-quality, customer-focused service has led to significant growth for 20 years. Today the company includes 700+ experienced professionals in more than 35 locations throughout the United States. Andrew’s addition to Hays’ Wisconsin office follows the eighth consecutive year Hays Companies has been recognized as one of Wisconsin’s Top 100 Workplaces.
Andrew received his Bachelor of Science Degree in Economics from the University of Wisconsin-Madison. Andrew maintains a Wisconsin Resident Intermediary License for Accident and Health plans and Life plans.
Corporate transitions like mergers and acquisitions are continuing at a rapid pace. When considering how these transactions and changes will impact employee benefit compliance, time is often limited.
This 3o-minute webinar, presented by the Hays Benefits Research and Compliance Department, addresses the M&A impacts on Benefits Compliance. It covers common issues that companies need to be aware of if they’re in the merger and acquisition field.