Capital Crunch: What Captives Need to Know About Economic Capital Modeling
By Alan Pakula, ACAS, MAAA and Todd Dashoff, ACAS, MAAA, ARM of
Huggins Actuarial Services, Inc.
What is economic capital?
Economic capital is defined as "the amount of financial resources that an institution must theoretically hold to ensure the solvency of the organization at a given confidence level and given the risks that it is expected to take" (James Lam, Enterprise Risk Management: From Incentives to Controls, John Wiley & Sons, 2003).
State Labor Enforcement Shows Record Penalties for Employers
By Marc Zimet, Esq., of Jampol Zimet LLC
According to the State Labor enforcement in its new report, 2011 and 2012 marked the highest years for enforcement of unpaid wages, claims, and penalties against employers. 2012 was the highest year for total hearing awards, totaling $85 million- the largest amount in the past decade- and representing a 419% increase since 2010.
Administering FMLA Leave after Supreme Court's DOMA Ruling
By Jackson Lewis LLP
In ruling unconstitutional the Defense of Marriage Act (DOMA) provision denying recognition of the marital status to same-sex couples under federal law, the U.S. Supreme Court expanded the population entitled to leave under the federal Family and Medical Leave Act.
Best Strategies in Defending Wage and Hour Claim Actions in New Jersey
By Thomas Paschos, Esq. of Thomas Paschos & Associates, P.C.
New Jersey Wage and Hour Law
New Jersey wage and hour claims are governed by the New Jersey Wage and Hour Law ("NJWHL")1, The federal law, Fair Labor Standards Act ("FLSA") also applies in some circumstances. Neither statute applies in the same manner to all employees.
Fault Allocation in Maryland Remains Undisturbed
By Angela W. Russell, Esq. & Maryan Alexander, Esq. of Wilson Elser Moskowitz Edelman & Dicker LLP
Writing for the majority in James K. Coleman v. Soccer Association of Columbia
(No. 9, September Term, 2012), Judge John C. Eldridge explained that, even though the court has the authority to abrogate the contributory negligence doctrine, it declined to change the negligence system in Maryland because it is contrary to legislative policy.
Leaked EPA PowerPoint Concerning Dimock Methane In Groundwater
By Andrew J. Scholz, Esq. of Goldberg Segalla LLP
The latest media leak of internal government documents (in what generally appears to be a growing national trend) comes from the LA Times, where, reportedly, an Environmental Protection Agency employee, notably without permission, disclosed an internal PowerPoint presentation which included information related to the EPA testing of certain wells in the Dimock, Pennsylvania area.