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...hen it's responsible for injury to third parties. This coverage should apply e...xpose the company to potential FLSA liability. If a nonexempt employee needs t...

... the current situation and level of profitability should be assessed, and liabilities that have become the firm's obligations should also be considered. Determining whether the perpetuation plan should be an internal buyout of stock (using one or more perpetuation vehicles) or an external sale to a third party, should depend on whether viable perpetuation candidates exist in the firm. PERPETUATION CANDIDATE CRITERIA What should the criteria be for the ideal perpetuation candidate? That depends on the firm. However, in general, ideal candidates serve the two following purposes (and a ... candidate serves at least one): They can oversee the management of the firm's major functions to make sure that profits are available to buy out the retiring owner's stock. The major functions are sales, marketing, service, claims, accounting, and administration. They can produce enough new business to help the firm grow to cover existing obligations and pay off the retiring shareholder(s ) . Without a viable perpetuation candidate groomed by the time the shareholders are in their late 50s or early 60s, the firm will probably need to ... to a third party or find a viable merger candidate with younger owners. SELL STOCK AT FAIR MARKET VALUE Stock sold internally should be priced at its fair market value-at least at a price that most third parties would expect to pay. Unless there's some reason to discount the price of the retiring shareholder's stock (for example, a promise to a key employee, vested interest to be exchanged for equity in the firm at some future date, stock options to be exercised, and so on), owners deserve to sell their stock ...

...vehicles) or an external sale to a third party, should depend on whether viabl...t value-at least at a price that most third parties would expect to pay. Unles...

...ddition to acquisition challenges, third-party marketers and potential joint v...re developed directly by the banks, a third party, such as a state bankers' associat...

... name suggests, a large-deductible plan means that an organization assumes a substantial per-accident or per-occurrence deductible. This can often range from $50,000 to $250,000. Large-deductible plans are currently popular. They use the insurer's claims-paying guarantee to ensure that obligations to third parties and employees are met. The policyholder is responsible for paying all losses below the deductible threshold. If the insured is unable to do so, the insurance company is on the hook for the full amount of losses. Large-deductible plans have largely supplanted the utility ... popularity of paid loss retrospective rating plans. One of the reasons is that an insured pays lower premium taxes under a large-deductible plan than under a paid loss retro plan. Workers Compensation is the line most often financed through a large-deductible plan. Another reason for the popularity of large-deductible plans is that they allow the insured to hold cash until there are actual loss payments — only program expenses need be paid at up front. Because the insurer is ultimately responsible for unpaid losses, collateral is required to eliminate credit risk, and insurers tend ... #160 Guaranteed cost Retrospective rating Large deductible Self-insurance Captive insurance This chart summarizes the main features of these alternatives: Analysis of Key Risk Financing Alternatives Rating Scale 1-5: 1 = least favorable; 5 = most favorable Guaranteed Cost Retro/Rating Large-Deductible Self-Insurance Fronted Cost Non-Loss Administration 1 2 4 5 3 Maintenance 5 4 3 2 1 Organizational Control 1 2 3 5 5 Guaranteed cost insurance. Guaranteed cost remains an attractive option, particularly in a highly competitive insurance market. "Guaranteed cost" means that the insured pays a ...

... health insurance and other similar coverages. In the event that [Employee] shall elect to exercise said option to purchase hereunder, he shall do so by notice in writing delivered to the Legal Representative of [Agency] 's Estate prior to the end of the third month following that in which [Agency] shall have died. Thereafter, [Employee] and said legal representative in good faith shall endeavor to complete the calculations necessary to agree upon the purchase price and to conclude the sale. Upon determination of said purchase price ... the Commonwealth of Massachusetts, and WHEREAS, [Agency] desires to employ [Employee] and [Employee] desires to be so employed upon the terms and conditions hereinafter set forth, NOW THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties agree and contract as follows: Effective as of , 20 , [Employee] shall serve in the employ of [Agency] upon the terms and conditions hereinafter set forth. The initial term of this agreement shall be for a period of two (2 ) ... or return commissions on account of audits and average commission adjustments shall also be included in said computation. Further, fees received from insureds in addition to or in lieu of commissions on account of the handling or servicing of property and casualty insurance, risk management services, administration of self insured plans and other similar services (but excluding so-called late charges on delayed payment of premiums) shall be deemed to be commissions for purposes of this calculation. It is the intent of the parties that any and all commissions on account of the writing ...

...the costs of corrective action and third-party liability that can result from ... limits of the Insurer's or Group's liability; if the amount of coverage is di...

...]'s Estate prior to the end of the third month following that in which [Agency...

...laim, liability or obligation by a third party (whether by legal process or ot...include his heirs, executors and administrators), hereby unconditionally and i...

...uild the agency up to sell it to a third party should be made before embarking...ill be a key factor, particularly for third-party buyers such as banks. Most agencie...