Department of Labor Goes After Independent Contractors

A little over a week after issuing its Notice of Rulemaking that will result in more than doubling the minimum salary that must be paid to an employee for them to be eligible for the administrative or executive exemption from the overtime pay requirements of the Fair Labor Standards Act (“FLSA”)(click here for my blog post on […]

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Which Agency Employees Can Be Exempt Employees for Overtime Pay Purposes?

In last week’s post, I mentioned the concept of exempt and nonexempt employees and provided a brief description of what makes an employee exempt from the requirement under the Fair Labor Standards Act (“FLSA”) that employees be paid extra compensation for any work done in excess of 40 hours per week.  This subject is an important one, as […]

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Successful Young Producers – What do They Have in Common?

Would you be surprised to learn that a slight majority of the successful young producers studied by Reagan Consulting, an Atlanta-based insurance industry consulting firm, were recruited right out of college and most of the rest came from another industry?  How about that the producers who had GPAs in school under 3.0 (a B average) achieved validation(i.e., the income […]

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How Should Producers Be Paid?

This month’s cover story for the IA Magazine focuses on the various ways in which successful agencies are paying their producers.  According to a recent study by Reagan Consulting, for the most part, there was little or no correlation between agency growth and the use of many standard producer compensation models (e.g., paying less for renewals than existing business, […]

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Employers Beware

The IRS and U.S. Department of Labor are cracking down on the misclassification of workers.  It has become a high priority for both government agencies in these days of tight budgets due to the significant financial penalties that can be imposed on employers who improperly classify workers as independent contractors when they should be treated as employees.  Merely […]

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