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On June 2, 2016, in Flores v. City of San Gabriel, the Ninth Circuit Court of Appeals held that waiver payments made to an employee in lieu of benefits must be included in his/her regular rate of pay when calculating overtime under the Fair Labor Standards Act (FLSA). Also of major significance is the Ninth Circuits finding that if a benefits plan is not a bona fide plan, then even the contribution amounts paid by an employer to trustees or third parties (e.g., insurance carriers) must be included in the calculation of an employees regular rate of pay.

London is both a central hub for financial markets and the insurance industry – the impact on the financial markets was evident immediately but what about the impact on the insurance industry? This is an unprecedented financial event in a complex global economy. The best guidance we can offer is a thoughtful analysis of the factors that may impact our clients – insurance buyers.

On May 17, 2016, the Equal Employment Opportunity Commission (EEOC) issued two separate sets of final regulations that provide compliance guidance on employer-sponsored wellness programs in accordance with the Americans with Disabilities Act (ADA) and the Genetic Information Nondiscrimination Act (GINA). The final rules (which can be found here) confirm the proposed rules that were issued previously but with two key clarifications/additions addressing the 30% incentive limit and a notice requirement. As discussed in detail below, the final rules generally require wellness plans to be voluntary, limit incentives to 30% of self-only coverage, provide notice and reasonable accommodation, maintain confidentiality of medical information and comply with other employment non-discrimination laws.

Part 107 of the Federal Aviation Regulations requires that anyone who operates a small unmanned aircraft/drone for commercial use (weighing more than 0.55 lbs and less than 55 lbs) must obtain a remote pilot airman certificate with a small UAS rating. Certification includes passing an aeronautical test and undergoing a security background check.

The British electorates vote to exit the European Union (EU) on June 23, 2016 has left many with feelings of fear and uncertainty. The immediate reaction by the financial markets was negative: stock and oil prices plummeted based on anxiety over a potential recession and bond yields fell as investors sought refuge in safe haven assets. London is both a central hub for financial markets and the insurance industry - the impact on the financial markets was evident immediately but what about the impact on the insurance industry?