The Business Mentoring Center
The Business Mentoring Center

Posts by Gary Sorenson, Insurance Brokers of Minnesota

Four Commercial Auto Endorsements Every Insured Should Consider

Regardless of the industry or state of operation, the following four endorsements alter the availability of coverage for exposures common to most insureds: Employees as Insureds This endorsement closes these gaps and seeming inequities by altering the definition of “Who is an Insured” to include an employee while using an auto the “you” (the named…

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Auto Insurance: Why This News is Important to You as a Consumer!

The auto insurance marketplace has changed. Claims frequency and the average cost of settling auto claims are rising, leading to higher loss costs and future auto insurance rates for insurance companies’ existing customers. These are industry-wide and countrywide issues, impacting all drivers. They are also reflected in the rate increases being taken by some of our…

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What is a Defined Contribution/Premium Reimbursement Plan? Should I Consider for My Business?

Combines a Premium Reimbursement Account, and a FSA/HSA plan all into one simple-to-use product. Employer has ability to offer a “defined contribution” or tax free contributions to an employee for (1) insurance premiums, or (2) out of pocket medical expenses, or (3) both, and provide a (4) pre-tax platform for employees to pay for their…

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New Mental Health, Substance Abuse Parity Rules Finalized

The Obama administration finalized new regulations to expand coverage requirements for employers providing mental health and substance abuse treatment under their group health care plans. The long-awaited final rules are based on the 2008 Mental Health Parity and Addiction Equity Act. They will prohibit large employers — defined as firms with more than 50 full-time…

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