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Paul Zimmerman

Showing 6 posts from June 2018.

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Something New on the Starbucks Menu: Diversity Training

Recently, more than 8,000 Starbucks locations in the U.S. closed shop for a mandatory “Racial Bias Education Day” – a diversity training for its employees. The day of training was precipitated by the arrest of two black men in a Starbucks in Philadelphia, prompted by a call to the police by one of the store’s managers who claimed the men were sitting in the Starbucks for minutes without making a purchase. (Read More)

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New Hurdles for Insurers Offering Good Driver Discounts

It is no newsflash that qualified good drivers must be offered premium discounts for automobile insurance under Proposition 103. That being said, the mechanics of these offerings have recently become more complicated. An explanation follows, but first, a bit of background. (Read More)

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The Message from Our Legislature: #MeToo Means You Too

The #MeToo movement has brought sexual misconduct front and center in the minds of Californians, including those serving in the state’s legislature. Combined, there are more than one-half dozen bills currently pending in the California Assembly and Senate that address sexual assault and harassment, all of which should be of interest to employers. That being said, here’s a brief overview: (Read More)

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The Tax Cuts and Jobs Act: What Investors Need to Know

Once upon a time investors had fairly straightforward choices when it came to investing in business. There were C corporations, (“C Corps”) as well as S corporations (“S Corps”), limited liability companies (“LLCs”), partnerships and sole proprietorships. Of course, all of these business organizations still exist, but in the wake of the new Tax Cuts and Jobs Act (the “Act”), the decision as to which type of entity to use as an investment vehicle has become much more complex. (Read More)

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Cybersecurity Rules May Be Coming to a State Near You: South Carolina Enacts NAIC’s Model Law

In the wake of cybersecurity requirements for financial services companies that were issued by the New York Department of Financial Services and went into effect on March 1, 2017 (codified at 23 NYCRR §500), the National Association of Insurance Commissioners (NAIC) adopted a similar Insurance Data Security Model Law.

Because the NAIC rules are simply a template for legislation, for now only insurance and insurance-related companies as well as brokers, agents and adjusters licensed to transact business in New York are bound by cyber regulations earmarked for the insurance industry – regulations that require the assessment of specific cyber risk profiles and design of cybersecurity programs that address such risk in a robust fashion. But New York’s membership in this exclusive club will be short-lived. And that is because on May 14, 2018, South Carolina became the first state in the nation to enact the model law promulgated by the NAIC. (Read More)

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Digital Switzerland

Microsoft President Brad Smith is the force behind an admirable initiative – the Cybersecurity Tech Accord. By way of the Accord, participants seek to create a “digital Switzerland” made up of some of the leading tech companies in the world. Signatories to the Accord – to date, there are 34 in all, including ABB Group, Arm, Cisco, Facebook, Hewlett Packard, Microsoft, Nokia, Oracle, and Trend Micro – promise, among other things, not to aid or abet any government in committing cyberattacks against innocent civilians or enterprises and, at the same time, to protect victims of cyber crime. (Read More)