The NH Insurance Department has approved a rate proposal filed by the National Council on Compensation Insurance that will reduce voluntary loss costs by an average 7 percent.
The loss cost is the portion of an employer’s insurance premium that pays claims costs for work-related injuries. Loss costs in the voluntary market have decreased in each of the last 10 years, according to the department, and more than 50 percent cumulatively during the period.
The new rates will apply to policies effective starting on Jan. 1, 2023.
McLane’s Parent honored in national Women in Litigation publication
Jennifer Parent
McLane Middleton attorney Jennifer L. Parent has been named to Benchmark Litigation’s Top 250 Women in Litigation for the fourth consecutive year.
Attorneys named to the 2022 publication were chosen through several phases of research: namely, the review of their recent case work, peer review in which we consider how attorneys at peer legal institutions might rank them, and a consideration of client feedback on their performances.
Hassan introduces bill to boost cyber defenses of small businesses
U.S. Sen. Maggie Hassan is sponsoring a bill aimed at strengthening small businesses’ cybersecurity by providing funding to Small Business Development Centers, including to the New Hampshire Small Business Development Center’s Cybersecurity Review program.
The Small Business Cybersecurity Act would establish a federal program to provide direct grants to SBDCs in order to create or continue cybersecurity programs for small businesses. The funds can be used to help Small Business Development Centers provide cybersecurity training for small business employees and administer reviews of small business’s cybersecurity.
DRA honored for Meals & Rooms Tax audit program
The NH Department of Revenue Administration has received a 2022 Federation of Tax Administrators Award for its strategic Meals & Rooms Tax Monitor Forward Audit Program that’s aimed at increasing compliance with the tax obligation and to ease the burden on New Hampshire’s restaurants.
Under the program, auditors are allowed to initially review a single tax period rather than an entire year, providing an immediate and accurate picture of sales without requiring businesses to provide a full year of data. The agency was one of seven states honored with a 2022 award, which recognizes state tax administrators’ best ideas and practices nationwide.
NHDRA also received an FTA award in 2020 for its development of a 12-month, customized communications plan to deliver core messages to key stakeholders.