How Multifactor Authentication Protects Against Cyber Risk

finger touching multi-factor authentication screen

Multifactor Authentication sometimes referred to as two-factor authentication or MFA, is a cybersecurity measure that requires users to confirm multiple factors verifying their identity before accessing a network or system. Generally, users must provide a password, verify access by inputting a code sent to another device or confirm access with biometric data such as a […]

Medicare Part D Notice Deadline 2021

medicare part d

The annual Medicare Part D disclosure notices have a deadline of October 15, 2021. Annual Medicare Part D Notices Medicare Part D imposes disclosure requirements on employers with group health plans that provide prescription drug coverage to Medicare-eligible individuals. Plan sponsors must provide the annual Medicare Part D creditable coverage disclosure notices to individuals before […]

Medical Loss Ratio Rebate

Medical Loss Ratio

What is Medical Loss Ratio? Medical Loss Ratio (MLR) is the percent of premiums an insurance company spends on member care, claims, and administrative expenses that improve health care quality.   What is the Medical Loss Rebate? The Patient Protection and Affordable Care Act (PPACA) of 2010 requires insurance companies to pay annual Medical Loss […]

Commercial Crime Insurance Explained

Commercial Crime Insurance. Graphic of the word crime.

Business owners may believe they only need basic commercial insurance coverage, but it’s wise to investigate obtaining coverage for a commercial crime insurance policy. But, can you afford to take the chance even with the most trusted of employees managing and operating your business? Commercial Crime Insurance Real-Life Example In May 2020, our team at […]

What is Material Misrepresentation?

What is material misrepresentation in insurance

Material misrepresentation in insurance happens, even if it’s accidental. It’s important to properly document and disclose accurate facts when obtaining or renewing insurance policies. Otherwise, you could be in danger of material misrepresentation, leading to possible issues if you ever have to settle an insurance policy dispute. We have two examples of recent court cases […]

American Rescue Plan Act; Provisions Affecting Employers

The American Rescue Plan Act photo of American flag

The American Rescue Plan Act (ARPA) was signed into law by President Joe Biden on March 11, 2021. Here is an overview of three temporary provisions affecting employers. These provisions are effective April 1, 2021.   COBRA Premiums — Extended Subsidies Assistance Eligible Individuals (AEIs) who lost health coverage (including dental and vision coverage) due […]

Independent Insurance Agents Day

independent insurance agents

Michigan Governor Gretchen Whitmer has proclaimed February 25, 2021, as Independent Insurance Agents Day! At Mason-McBride, we’re proud to be independent insurance agents and serve our commercial lines, personal lines, and group benefits clients! Here is how the proclamation reads: WHEREAS, we join with the Michigan Association of Insurance Agents to applaud the entrepreneurial spirit […]

Demonstration of Insurance Policies as Contracts

Demonstration of insurance policies as contracts. Man holding home mini model.

Insurance policies are in fact contracts. All contracts, including insurance policies, contain rights and duties. A recent Michigan Court of Appeals case demonstrates that insurance policies are contracts. In the case of Fabatz v. Auto-Owners, December 17, 2020, Fabatz made an addition to their home in early 2017 at a cost of $150,000. The insurance […]

Protecting Your Building for Winter Vacancy

Photo of winter city street

It’s typical to prepare for the cold and snow as a part of your winter maintenance routine. But things might look slightly different this year if your building is vacant or only partially occupied because of COVID-19 or another reason. However, any changes in occupancy should not affect the care and management of your building […]

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