Sean Lynch

In a significant development for the life insurance and life settlement industries, the Connecticut Insurance Department has petitioned for an order of rehabilitation for PHL Variable Insurance Company and its subsidiaries, Concord Re and Palisado. This move, driven by financial instability, is poised to substantially impact policyholders and the future of risk-based purchases in the life settlement market. The implications of this petition are far-reaching, potentially altering the landscape for life insurance providers and reshaping how policyholders approach their financial planning and investment strategies. As the situation unfolds, stakeholders in the industry are closely monitoring the proceedings to gauge the potential long-term effects on market dynamics and consumer confidence. https://lnkd.in/eUZJVh7S. #LifeInsurance #InsuranceNews #FinancialStability #Policyholders #LifeSettlement #MarketImpact #FinancialPlanning #InvestmentStrategies #IndustryNews #ConnecticutInsurance

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We are excited to announce that we will be hosting a webinar in the Northeast and New England: “Everything You Need to Know About 2025 Compliance but Were Afraid to Ask” on Wednesday, September 25th, 2024. Our speakers will be Yesenia Perez and Michael Rosenman. The webinar will cover the following topics: -Pre-Election Update -Impact of Recent High-Profile Litigation -2025 Inflation Adjustment Amounts -Changes to Medicare Part D Creditable Coverage Determination -Mental Health Parity Updates -Updates to Consumer Protection Laws and Reminders -Ongoing Administrative Requirements -Overview of State Employee Benefit Mandate Developments -Other Recent Developments **1.5 SHRM Credit will be provided to attendees** 😉 #USIOneAdvantage #USI

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Let’s bring the culture to SJ NABIP! Registration link in the comments! This is a HOT TOPIC! Join our South Jersey NABIP monthly meeting, we will have a Panel of experts who will answer questions and have an open discussion about how the Inflation Reduction Act (IRA) is affecting Group Health Plans and your current Medicare Clients. Hope to see you there 😎 “Stronger Together” #nabip #njnabip #medicareagents #groupbrokers #insurancebrokers

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NY Paid Family Leave Premium Rate for 2025 Announced Recently, the Department of Financial Services announced the 2025 NY Paid Family Leave (PFL) rate, giving New Yorkers a little break: In 2025, the maximum contribution rate for Paid Family Leave change from 0.373% to 0.388% of an employee’s gross annualized wages capped at $91.373.88, which is the updated annualized New York State Average Weekly Wage. This translates to a maximum annual premium contribution of $354.53 per employee – that an employer can withhold for NY PFL per employee – up from $333.25 this year. Source: https://lnkd.in/gEBz2Pe7

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Attention CT Employers... As was announced in May, the Connecticut Paid Family and Medical Leave (PFML) program has some changes effective October 1st that employers need to be aware of. These changes include: -- An expansion of the rights of sexual assault victims by allowing the victims to receive PFML benefits to seek care or participate in the criminal justice process, -- Victims are eligible to receive PFML compensation at the same time as compensation from the state’s victim compensation program, up to the employee’s regular rate of compensation on a combined basis, -- The law requires employers with at least three employees to provide up to 12 days of annual leave for specified purposes related to family violence or sexual assault, and -- The changes also include requiring all employers that pay wages to register with the Connecticut Paid Leave Authority and submit required reports. If you have question regarding your CT-PFML, please reach out and our compliance team can assist you.

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