Requiring a High School Degree might be an emerging employment liability

The EEOC has issued a letter questioning the necessity of requiring a high school diploma.  While this isn't a new law, the EEOC expressed concerns that requiring a high school diploma for certain jobs could be discrimination under the American with Disabilities Act (e.g. for students with learning disabilities that are unable to obtain a high school diploma). 

This should be of concern to any company that has this requirement and any policy in force that requires such should be reviewed.  I expect this to be another emerging employment liability as this will surely open the door to more lawsuits. 

Read the article here: Business Insurance

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Wage & Hour - Yes there is an iPhone app for that!

The Department of Labor now has a smart phone application for employees to independently track their time worked.  From their press release " This new technology is significant because, instead of relying on their employers’ records, workers now can keep their own records. This information could prove invaluable during a Wage and Hour Division investigation when an employer has failed to maintain accurate employment records"   The DOL also has a printed version that will employees without a smart phone to track there hours worked, breaks, and overtime. 

With the release of this new application business owners must have their records, policies, and employee classifications up to speed.  There is nothing to prevent an employee from entering false information or incorrect data. 

What can you do as a business owner?

1. Make sure your employee classifications of exempt and non-exempt are correct
2. Review your non-exempt breaks & overtime policies for compliance with federal and state law
3. Have your attorney review your wage and hour & employee classifications, annually
4. Talk to an agent/broker to purchase as much Wage & Hour insurance coverage you can get (which is often limited in the marketplace)

The bottom line is the DOL iPhone applications make it easier for an employee to not only track their wages due to them, it also makes it easier for them to file a compliant.  So business owners need to be aware and ready for when that suit comes. 

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DOL Extends date to comply with Fee Disclosure Rules

Good news!  The department of labor has extended the deadline to comply with their fee disclosure rules.  Businesses will now have 120 days after 1/1/2012 ( which is 4/30/2012 for plans on a calendar year basis). 

These are exciting changes and include requirements for a comparative graph that can better help participants compare options. 

Here's a link to the fact sheet regarding this ruling. 

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D&O and the Risk of Going Green

Check out this short video in regards to the risk publicly traded companies face with disclosing liabilities associated with greenhouse gas emissions:  Business Insurance Video.

While the Securities and Exchange Commission requirement doesn't apply to private or non-profit companies, the underlying risk remains with environmental exposure.  Directors and Officers have a responsibility to their stakeholders to know and mitigate environmental concerns.


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Labor Department requires 401(k) fee disclosure | Business Insurance

Here's another good reason to buy fiduciary liability insurance if you are a plan trustee:
Labor Department requires 401(k) fee disclosure Business Insurance

Essentially the DOL is now requiring by 2012 that companies provide their participants with information on fees like administrative and investment fees that are charged to their accounts. I'm sure it won't be long before comparisons happen. If you sponsor a plan and don't monitor it closely, look out, you're just asking for trouble these days!

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Sally Hogshead on How to Fascinate Your Clients (and Goldfish)

Check out this video on how short your customers attention span is:  Now that's money!

Can your Non-Profit stand to lose $116,000.00?

Another employee dishonesty loss in Central PA.  Read about the loss here (Patriot News) if you haven't already heard about it.  This individual is accused of embezzling more than $116K, from a local fire company.  The money was supposedly used for fund the individuals other business which was a marina along with other various items. 

Two important takeaways from this article-even non-profits have exposure to crime from employee dishonesty.  In my opinion they often have the most significant exposure since they have limited resources to put in necessary checks and balances.  And secondly, the loss wasn't discovered until the individual was sick and another volunteer took over. 

Don't let your non-profit become the next victim, be sure to get crime insurance!

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