Strategic Insurance

DID YOU KNOW? Prepare For Back To School With Insurance Policy Review

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A back to school insurance review is vital for anyone with children living at college or boarding school. Whether it's the first year away or the last, going away to school has several insurance implications that need to be addressed to ensure adequate coverage.

Housing

Students living away from home for the first time present new worries for their parents. What if they have friends at their dorm and someone gets hurt?  What if they forget to turn off an appliance and cause a fire?  What if their laptop is stolen?

Many schools require first-year students to live on campus, so renter’s insurance may not be necessary. Some insurance companies include student housing in their definition of a covered location, but it pays to check with your agent.  If the policy language is unclear or if the policy does not automatically include student housing, a liability extension endorsement can be added to the policy for a very modest increase in premium, usually less than $50 annually.  The endorsement changes the home insurance policy to provide liability coverage to include a student's dorm room at school.  With this extra coverage, if someone gets hurt in their dorm, there is now no question about coverage.

But what about all the stuff they brought with them to school? Most home insurance policies will provide coverage for property located outside the main residence, with some restrictions – usually 10% of the property limit on the home insurance policy. For example, if your home insurance policy provides you with $200,000 of personal property coverage, up to 10% of that limit ($20,000) may be automatically covered while at college or boarding school.

There are two drawbacks to using this approach to cover property located in a dorm. First, the deductible from your home insurance policy would apply to the loss. If you have a high deductible on your home insurance policy, a small personal property claim at the dorm may not clear your deductible. Secondly, Loss of Use coverage (or sometimes called Additional Living Expense) does not extend to other locations listed on the policy. Let’s say a pipe bursts in the dorm, causing damage that will take months to repair. There is no coverage for additional living expenses you might incur while your child is living elsewhere.

If you don’t want to accept these policy limitations, a separate renter’s insurance policy should be implemented. Renter’s insurance will provide liability insurance for the dorm, or off-campus address listed in the policy, as well as the personal property at that location. The amount of personal property coverage is usually subject to a minimum amount ($20,000 to $25,000 is common), but a separate policy will allow you to secure a lower deductible, keep any losses from showing up on your home insurance policy, and provide you with Loss of Use coverage.  Expect to pay around $200 per year for a basic renter’s policy.

Whether you choose to extend coverage or take out a renter’s policy, don’t forget to list this location on your personal umbrella policy.

Itemized personal property

If you’ve made a significant financial investment in a laptop for your student, it may make sense to itemize it on your home insurance policy – much like you would a new piece of jewelry. Some insurance companies don’t like to schedule laptops, but it pays to check.  Expect to pay between $20 and $25 per-thousand of coverage.

Paying this additional premium gives you extra coverage for misplacing the laptop and accidental damage, with no deductible applied to the claim.

Cyber Liability

Free wi-fi might be a great way to attract students to a coffee shop or a study room, but it is also a great way to become a victim of identity theft. Your son or daughter might have your credit card information or other personal data on their cell phone, exposing you to financial loss.  Many home insurance policies offer optional cyber liability coverage by endorsement.  The amounts of coverage can vary widely, and there may even be customizable limits within the endorsement, so a conversation with your agent is essential.

Vehicles

If your son or daughter does not bring a car with them to school, you may be able to get a discount on your auto insurance. Most companies will provide an “away at school” discount if the school is at least 100 miles from home.

If they bring a car with them to school, coverage will need to be amended to show a different “garaging location." Depending on the state and the insurance company, a separate auto policy may need to be written if the car is garaged in a different state.

It is also important to remind your son or daughter that the insurance follows the vehicle. If they let their roommate, a friend, or a friend of a friend borrow their car, the insurance on the car pays for the claim. By extension, this means your personal umbrella would also cover the claim if the claim was severe.  Strongly discourage your child from letting anyone use their car while it is with them at school.

And DO NOT let them sign up as a driver for Uber or Lyft while they are at school. They might think it’s a good way to make a few extra dollars, but there are absolute coverage exclusions on auto insurance policies when vehicles are used as a taxi or livery service. Uber and Lyft provide their own insurance, but there may be coverage gaps as to when their coverage applies and when it does not and how it coordinates with your own policy. The risk far outweighs the financial reward.

Have questions about a back to school insurance review? David Miller has answers. Miller, who writes the monthly, DID YOU KNOW? blog is The Plexus Groupe's Vice President, Client Executive for Private Client Solutions. Miller can be reached by calling 846-307-6141.

DID YOU KNOW? Texting While Driving Deaths On The Rise

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Drunk driving is down by 65 percent since 1982, but deaths and injuries caused by distracted driving – like texting while driving – are on the rise. People are busier than ever, juggling home and work lives, managing kids' schedules and rushing from one thing to the next. It is no wonder that people use their time in the car to navigate their day -- making appointments, responding to email, returning a text -- when instead they should just navigate the road.

This wasn't always the most prevalent problem on the road. Alcohol was.

According to the National Institutes of Health, in the mid-1970s, alcohol was:

  • a factor in over 60 percent of traffic fatalities
  • involved in two-thirds of traffic deaths among persons 16 to 20
  • allowed to be purchased by anyone 18-years old.

Since then, a number of factors have been implemented to reduce drunk driving fatalities. Some of those reasons include:

  • the drinking age is now 21 in all 50 states.
  • The level at which a person can be arrested for drunk driving has dropped from a 0.10% blood alcohol content (BAC) to 0.08%
  • a zero tolerance law of 0% BAC for underage drinking have been adopted.
  • drunk driving has been stigmatized
  • the use of designated driving has been promoted.

 

According to Responsibility.org, these efforts have reduced alcohol-impaired driving fatalties by 65% since record keeping began in 1982.

But with the onslaught of cell-phone use -- over 330 billion Americans use one daily -- the statistics for distracted driving are going in the other direction.

According to the Centers for Disease Control, approximately 9 people are killed and 1,100 people are injured per day due to distracted driving and these statistics don’t include near-misses where an accident was avoided at the last second.

A number of years ago, Car and Driver magazine conducted a test that measured the reaction time of a drunk driver compared to a texting driver. The texting drivers took significantly longer to react to an alert than drivers who were legally drunk, yet texting and driving continues virtually unabated.

Despite these statistics, legal deterrents for distracted driving lag far behind those that have been implemented for drunk driving. In Illinois, the average fine for texting and driving is $75 for a first offense and little or no change in your insurance premium with most insurance companies.  Contrast this with a first-offense DUI in Illinois – A one-year suspension of your driver’s license, a fine of up to $2,500 (not counting attorney fees), and up to one year in jail.  From an insurance standpoint, a DUI may also result in non-renewal of your auto insurance, or astronomical increases in your premium combined with coverage restrictions or eliminations for up to seven years.

In order to fill this void, the insurance industry needs to get tougher on distracted driving. Awareness campaigns are a good first step, but meaningful financial penalties need to be implemented as a deterrent. Perhaps tripling a policyholder’s collision deductible for a distracted driving claim would work because it would have an immediate financial impact at the time of loss.

Have questions about your home and auto insurance coverage and want to make sure you are covered if a texting while driving accident occurs? David Miller has answers. Miller, who writes the monthly Did You Know blog, is The Plexus Groupe’s Vice President, Client Executive for Private Client Solutions. Miller can be reached by calling 846-307-6141.

Cyber attacks don't just affect computer systems. Your machinery may also be at risk.

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Cyber attacks threaten the financial stability of a company. The steep, monetary burden of a cyber attack isn't exclusively tied to damaged digital assets, lost records, and the price of investigating and reporting a breach. Damage to an organization’s physical assets can be just as harmful.

The physical damage of a cyber attack typically occurs when a hacker accesses a computer system that controls equipment. Examples include technology-based controls in a manufacturing plant, refinery or electric generating plant. After a hacker gains access to an organization’s machinery, they control it.

These types of events can lead to major disruptions and costly damages. To safeguard physical assets, it’s critical for organizations to understand the types of businesses and assets that are exposed to these attacks.

What’s at Risk?

Let's compare a cyber attacks to a natural disaster or other industrial accident. Following these kinds of incidents, organizations can incur costs to repair and replace damaged equipment in addition to any lost revenue caused by the disruption.

Unlike natural disasters, however, cyber attacks that result in physical damage aren’t limited to a geographic location and can impact an entire network. This means damages caused by a breach can be widespread, affecting multiple sectors of the economy depending on the target.

Because of this, cyber attacks that cause physical damage are often dynamic and extensive. When an attack on critical infrastructure occurs, it not only affects business owners and operators, but suppliers, stakeholders and customers.

Who’s at Risk?

Cyber attacks that cause physical damage — including the targets, assailants, motives and means of the attack — are constantly evolving.

Incidents can occur in a variety of ways, including: phishing scams, internet exchange point attacks, breaches of unsecured devices and plots carried out by rogue employees.

Many experts deem power and energy sector organizations the most at risk. However, vulnerabilities also exist in utilities, telecommunications, oil and gas, petrochemicals, mining and manufacturing, and any other sectors where industrial control systems (ICSs) are used.

ICSs are open computer systems used to monitor and control physical processes as well as streamline operations and repairs. ICSs are not often designed with security as a primary consideration. This leaves them susceptible to attack. And, for many automated processes, attacks don’t even need to cause physical damage to result in significant disruption and losses.

The targets of cyber attacks vary greatly by industry, and the damage can be extensive due to the interconnected nature of ICSs.

Real-World Examples

Organizations are not always required to report cyber attacks, so they largely go unreported. However, here are a number of high-profile incidents that demonstrate how important it is to consider infrastructure cyber exposures:

→ Ukrainian power grid attack. This was a multisite attack that disconnected seven 110 kilovolt (kV) and three 35 kV substations. The attack resulted in a power outage for 80,000 people and lasted for three hours. The attackers caused substantial, prolonged disruption to the economy and general public utilizing a phishing scam.

→ Saudi Arabian computer attacks. Hackers destroyed thousands of computers across six organizations in the energy, manufacturing and aviation industries. A simple virus stole data and then computers were wiped and bricked. Not only did this mean critical business data was lost forever, but all of the damaged computers had to be replaced — a substantial fee for businesses of any size.

→ Petrochemical plant attack. This attack targeted a Saudi Arabian petrochemical plant. The unique attack wasn’t designed to steal data, but rather sabotage operations and trigger an explosion. The only thing that prevented an explosion was a mistake in the attackers’ computer code. Had the attack been successful, the plant would likely have been destroyed and many employees could have died. Experts are concerned that similar attacks could happen across the globe.

→ Hospital ventilation attack. In this incident, a hacker was able to control a hospital’s HVAC system using malware. This attack put the safety of staff, patients and medical supplies in jeopardy, as the hacker could control the temperature of the facilities.

Cyber attacks will likely become increasingly common, as technology advances and hackers become more creative. Even more concerning is that these kinds of attacks not only endanger a company’s data, reputation and finances, but human lives as well.

How Do I Protect My Organization?

Insurance coverage for cyber attacks is still in its infancy, and your organization may have gaps in protection. Even if your property insurance policy includes physical or nonphysical damage overages, you may not necessarily be covered from first- or third-party losses from cyber attacks.

The level of protection your company has depends largely on the structure of your policies. Therefore, it’s critical for businesses to do their due diligence and understand if their policies do the following:

→ Impose any limits on coverage, particularly as it relates to physical damage of tangible property.

→ Cover an attack and any resulting damages.

→ Provide contingent coverage for attacks that aren’t specifically targeted at the organization.

There are a number of steps businesses can take by themselves to protect their physical assets. In addition to implementing a cyber risk management plan, businesses should consider the following:

→ Keep all software up to date.

→ Back up files regularly.

→ Train employees on common cyber risks and what they should do if they notice anything suspicious.

→ Review your exposures and speak with your insurance broker to discuss policy options for transferring risk.

Contact Us

Have questions about today's newsletter or other commercial insurance matters? Contact a property and casualty client executive at The Plexus Groupe at 847-307-6100, or reach out via the Web.

Disclaimer and publishing credit: This Risk Insights is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice. © 2018 Zywave, Inc. All rights reserved.

Plexus Introduces 2018 Summer Internship Program

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Deer Park, IL, April 18, 2018. -- The Plexus Groupe, a national insurance brokerage, is proud to introduce its Summer Insurance Internship Program. The Insurance Internship Program allows students entering their junior or senior year in Fall 2018 to apply. Interns will gain valuable real-world business and insurance experience in a workplace environment annually honored as one of the "Best Places to Work in Insurance" by Business Insurance magazine and Best Companies Group. The firm seeks a pair of interns for its Deer Park, Ill. office. It also looks to fill one position in its Dallas office. The paid insurance internship program runs from Monday, June 11 through Friday, August 3.

"We're excited for the launch of our insurance internship program," said Stephanie Martinez, Plexus VP of Human Resources. "It's a wonderful opportunity for students pursuing a career in insurance, a fast-paced field that employs three million nationwide. Also, a field that is undergoing considerable change because of technology. These are exciting times for our firm and we are looking forward to working with these students."

Internship Qualifications

In order to qualify for a Plexus insurance internship, candidates must have a 3.0 GPA or higher. Candidates will preferably major in Risk Management, Insurance, Human Resources, Business, or Finance. Employee Benefits will have two internships open: one in Deer Park, one in Dallas. One intern will work with Plexus's Property & Casualty team in Deer Park.

The Plexus Groupe will nominate interns for the Council of Insurance Agents and Brokers' Scholarship. This will give them a chance to win $5,000 towards their college educations.

Who is The Plexus Groupe

Plexus offers expertise in employee benefits, property and casualty, corporate retirement plans, personal lines insurance, human resources administration / consulting, benefits technology services, and mergers and acquisitions. In each of the last eight years, the firm has been honored as one of the "Best Places to Work in Insurance" by Business Insurance magazine and Best Companies Group. Headquartered in suburban Chicago (Deer Park), Plexus also has offices in Chicago (Loop), Dallas and Oklahoma City.

For more information on Plexus's 2018 Summer Internship Program, please contact the firm at 847-307-6100 and ask to speak to a Human Resources team member, or visit the firm's Career Opportunities page to apply.

Why checking your homeowners insurance should be a rite of spring

Double-checking your homeowners insurance probably isn’t on many spring to-do lists. But it should be.

That’s the advice from David Miller, Vice President and risk management expert at Plexus Private Client Solutions, a suburban Chicagoland personal insurance agency protecting the life’s work of successful families and individuals with tailored home, auto, and umbrella coverage solutions.

In his recent article, “Eight Things That Might Surprise You About Your Home Insurance Policy,” Miller highlights some hot-button issues for homeowners, including:

Your home may be underinsured. Via Consumer Reports, which cited data from analytics firm CoreLogic, three out of every five homes are 20% underinsured on average. In the case of a total rebuild, this could leave homeowners left to pick up the pieces — while also picking up the check.

Take a look at your deductible, because it may have changed. Miller, who has more than two decades of insurance experience, cautions homeowners to be aware of wind and hail deductibles. These have been on the rise, with an uptick in roof-related claims particularly an issue. An insurance company can only change your coverage at renewal; make sure to read the fine print. Your agent can help.

Do not assume you have sump pump failure coverage. Most insurance companies will exclude this damage as a cause of loss. However, you can usually buy back a limited amount of coverage. Writes Miller: “Even if you have an unfinished basement, the costs associated with a sump pump/sewer claim might surprise you.”

For more information on the home and personal insurance expertise offered by Plexus Private Client Solutions, contact David Miller at 847-307-6100, or visit plexusgroupe.com. The firm's located at 21805 W. Field Parkway, Suite 300, in Deer Park, Illinois.

About Plexus Private Client Solutions

The personal insurance practice of national insurance brokerage The Plexus Groupe LLC, Plexus Private Client Solutions delivers a superior client experience and comprehensive personal insurance for successful individuals and families, including auto, home, and umbrella coverage. Our experienced, dedicated team takes a consultative approach to your personal risk management needs. For more information on Plexus Private Client Solutions, contact the firm at 847.307.6100 or via the Web.

Claims history, employment practices among underwriting considerations for D&O insurance

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Directors and officers (D&O) liability insurance is an insurance coverage sought by public, private and non-profit organizations to help protect their executives from costly legal actions. Over the years, insurance companies have refined their underwriting practices for D&O insurance to reward organizations that implement proactive risk management measures. While organizations across the United States have developed a greater appreciation for the importance of D&O insurance, many misconceptions about the underwriting process for D&O insurance persist. This Coverage Insights article examines some of the information that underwriters generally review when they receive an application for D&O liability insurance.

The Basics

Applications for D&O insurance generally start by asking applicants for a basic profile of their organization. In particular, underwriters want to establish the organization’s size, location, and industry. While this information may seem basic, it impacts an underwriter’s willingness to accept an application for coverage, and sets the price, terms, and conditions of the policy.

Note that an organization’s industry may contribute to an insurance company’s perception of the D&O risk posed by an applicant. When forming an opinion of a potential new client, underwriters will often take into consideration any recent litigation trends, along with their own underwriting experience with organizations in that sector.

The Organization’s Financial Condition

Typically, underwriters will require organizations to submit a copy of their audited financial statements along with their application for D&O coverage. Underwriters require this information in order to develop an understanding of an organization’s financial circumstances, particularly its key income statement components and balance sheet components. With this information, insurance companies create a range of financial ratios to benchmark an applicant to other similar organizations within its industry.

One of the main questions the underwriters will be trying to answer is whether an organization has sufficient cash or credit available to fund its operations and service its debt obligations for the proposed policy period. Organizations with a strong financial standing operating in an industry with positive economic outlook are generally looked upon favorably by underwriters.

Claims History

Insurance companies, by their nature, want to extend coverage to organizations that will allow them to remain profitable. Insurance companies generally view an organization with a history of frequent claims or pending litigation as undesirable and may decline to offer coverage or charge more for coverage based on the likelihood of a future loss.

While each insurance company has its own internal D&O underwriting practices, underwriters typically look at the following:

-- Recent civil or criminal action, or administrative proceedings alleging violation of a federal, state, or foreign securities law.

-- Involvement in insolvency or bankruptcy proceedings.

-- Instances of employment or labor-related litigation or proceedings.

-- Disputes over employee benefit or pension plan.

Mergers and Acquisitions

If an organization has been involved in merger or acquisition (M&A) activity, underwriters will typically investigate the reasons for these transactions to gain an understanding of its associated risk. This information interests insurance companies because financing activities and M&A activity are events that often lead to D&O claims.

Depending on the nature of an organization’s M&A activity, an underwriter may recommend certain conditions or restrictions in the D&O coverage provided to the organization or choose to decline coverage altogether.

Employment Practices

Current and former employees are a common source of D&O insurance claims, especially for private and non-profit organizations. In order to get a better sense of how likely an organization’s directors and officers are to become involved in a  dispute with employees, insurance companies will typically ask a series of questions related to employment practices. Common questions include, but not limited to, the following:

-- Does your organization have a formal human resources department?

-- Does your organization have an employee handbook?

-- Has your organization recently completed any layoffs, facility closures, or early retirement programs?

-- What is your organization’s annual turnover rate?

-- Does your organization have policies forbidding discriminatory conduct in the workplace?

-- Does your organization have formal hiring and interviewing guidelines?

International Exposures

Organizations that have operations in foreign countries tend to face a higher degree of D&O risk due to the complex compliance requirements that exist in each jurisdiction.

Accordingly, underwriters will typically ask an organization applying for D&O coverage what percentage of its business is in the United States and other countries.

Diversity of Business Activities

Generally, D&O risk is lower for organizations that concentrate their efforts in one core business activity. For this reason, underwriters may look more critically at organizations that involve themselves too many unrelated areas where the directors don’t have expertise in that type of operation. As a rule of thumb, the longer an organization has been involved in a business activity, the D&O risk associated with performing that activity decreases.

Additional Considerations for Public Companies

For publicly traded companies, insurance companies often require additional analysis from their underwriters during the application process. In addition to the areas previously mentioned, D&O underwriters may examine a publicly traded company’s accounting practices, corporate structure, stock price volatility, executive compensation, disclosure practices, and corporate governance.

Contact Us

Whether your organization is a non-profit, privately held, or public company, it is likely that it can benefit from a D&O policy. While the application and underwriting process for D&O insurance may seem daunting, The Plexus Groupe's knowledgeable insurance professionals are here to ensure your organization finds the insurance coverage it needs.

For more information on Plexus's management lines insurance expertise, including directors and officers coverage, contact a Property & Casualty executive at 847-307-6100 or visit ThePlexusGroupe.com

Disclaimer and publishing credit: This Coverage Insights is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice. © 2017 Zywave, Inc. All rights reserved.

When it comes to home renovations, don't skip the one phone call you need to make

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In our latest roundup of personal insurance news, notes, and tips, we begin with a reminder that seeing someone's proof of insurance is one thing -- but hearing an agent verify that coverage is believing.

Hiring contractors? Verify their insurance with an agent, then trust.

Spring is ideal for home improvements, some of which might require a contractor's expertise. But before anyone starts work on your home, make sure they have insurance. Ask your contractor to furnish proof of insurance, with their agents contact information to verify the insurance is active. A reputable contractor will welcome your due diligence, and you will have peace of mind. Have any questions on this topic? Call us at 847.307.6100, and any of our Plexus Private Client Solutions team members will be happy to help.

Florida: the king of uninsured motorists

Ah, Florida. Sunshine. Beaches. And, unfortunately, a higher percentage of uninsured drivers than the rest of the country, according to the most recent available data from the Insurance Research Council (via the Insurance Information Institute). Therefore, there is no guarantee insured Florida drivers are carrying all that much coverage. According to the Insurance Information Institute, Florida drivers are only required to carry $10,000 in liability coverage per person, with a minimum $20,000 per accident in liability insurance. Furthermore, drivers need just $10,000 in property coverage, per state law.

About Plexus Private Client Solutions

The personal insurance practice of national insurance brokerage The Plexus Groupe LLC, Plexus Private Client Solutions delivers a superior client experience and comprehensive personal insurance for successful individuals and families, including auto, home, and umbrella coverage. Our experienced, dedicated team takes a consultative approach to your personal insurance needs, and we transform complexity into simplicity to reduce your exposures and protect your most valued assets. For more information on Plexus Private Client Solutions, contact the firm at 847.307.6100, or reach out via the Web.

Plexus Hires Wes Hornsby as Vice President of Business Development

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The Plexus Groupe (Plexus), a national insurance brokerage and risk management consultancy with an international network, has hired sales executive Wes Hornsby as a Vice President of Business Development. Hornsby will work out of Plexus's Dallas, Texas office.

Wes Hornsby

Hornsby brings more than 20 years of sales leadership, business operations experience, and strategic planning expertise. He was most recently with Aflac, where he tailored benefit plans for clients via brokers, self-funded groups, and enrollment/software-solution companies. He has also held key sales roles with SurePoint Medical LLC, Rocky Brands, Inc., Allstate, and Bayer/Siemens.

"We are excited to welcome Wes to Plexus," said Brian F. Griffin, Plexus President and Chief Revenue Officer. "His innovative, strategic, client-focused approach, coupled with his vast experience and success in employee benefits and property and casualty, makes him a perfect fit for us. His addition is yet another example of our commitment to bolstering our already strong Dallas market presence."

The Plexus Groupe

Plexus offers expertise in property and casualty, employee benefits, corporate retirement plans, personal lines insurance, human resources administration/consulting, benefits technology services, and mergers and acquisitions. Additionally, the Plexus Global Network gives clients access to insurance placement in 130 countries around the world. Plexus has four offices: Deer Park, Ill. (headquarters), Chicago (Loop), Dallas, and Oklahoma City.

For more information on Plexus's strategic insurance solutions, please contact the firm at 847.307.6100 and ask to speak to a client executive, or contact us via the Web.

The staggering cost and consequences of not taking your medicine

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Study shows that fear of dependence on medication prescriptions is a major reason for patients skipping their recommended doses.

By Integrated Health Concepts, LLC

In the United States, 20 to 30 percent of medication prescriptions are never filled, and approximately 50 percent of medication prescriptions are not taken as prescribed for chronic diseases.1,2  It's estimated this non-adherence causes approximately 125,000 deaths and at least 10 percent of hospitalizations and  estimated to cost the U.S. health care system between $100 and $300 billion annually.1,3

Non-adherence and its consequences are concerning to Employer Plan Sponsors, raised frequently by those offering high-deductible plans. Numerous strategies have examined external barriers, with little long-term impact. These include financial incentives paying patients for taking their medications, social support nudges from apps or family/friends, electronic pill bottles alerting patients when a dose is due, and low or no co-pays.

A recent study, however, sheds light on a particularly challenging factor in non-adherence: patient beliefs about medications. 4 The study found 51.9 percent of respondents viewed medications negatively. Fear of dependence came as the most reported negative belief, followed by disbelief that medication works. These negative beliefs were significantly associated with lower medication adherence. This study concluded that “… negative beliefs about medicines were a more significant deterrent to adherence than external barriers to accessing medicines.” 4

Medication non-adherence comes with multifaceted problems, with many barriers and beliefs that must be overcome. Simply targeting one area, such as member cost share, will not be sufficient. It will take the entire health care team (physicians, nurses, pharmacists, insurers, PBMs and plan sponsors) working cohesively with the patient to improve patient adherence.

Let Plexus lend a hand

Have questions regarding this newsletter or or other employee benefits matters? Contact a Plexus client service team representative in Deer Park, Ill. (847.307.6100), Chicago (312.606.4800), Dallas (972.770.5010), or Oklahoma City (405.840.3033). We’re here to help – and we’re happy to help.

Publishing credit: Content provided by Integrated Health Concepts, LLC, a pharmacy consultant for The Plexus Groupe. 

References

1. Peterson AM, Takiya L, Finley R. Meta-analysis of trials of interventions to improve medication adherence. Am J Health Syst Pharm 2003; 60:657-65.

2. Haynes RB, Ackloo E, Sahota N, McDonald HP, Yao X. Interventions for enhancing medication adherence. Cochrane Database Syst Rev. 2008; CD000011.

3. Benjamin RM. Medication adherence: Helping patients take their medicines as directed. Public Health Rep. 2012; 127(1):2–3.

4. Gagnon MD et al. Patient beliefs have a greater impact than barriers on medication adherence in a community health center. J Board Fam Med. 2017 May-Jun; 30(3):331-336.

Worried about distracted driving? There's an app for that.

We lead our latest personal insurance news roundup with a look at a phone feature aimed to reduce distracted driving. Now there is some technology we can all get behind. For more information on The Plexus Groupe's home and auto coverage solutions,  contact us at 847-307-6100 or via the Web.

Getting to know the "Do Not Disturb While Driving" iPhone feature

iPhone owners seeking a little peace and quiet during their commute, try out the "Do Not Disturb While Driving" feature. The application is available on devices using iOS 11, and Apple has a handy how-to guide for using the feature. There is some evidence the app can reduce iPhone use in the car. Via Insurance Business America, the online auto-coverage quoting service EverQuote surveyed iPhone users last September and October and found that device use while driving decreased eight percent with the Do Not Disturb function employed.

Don't let an ice dam ruin the final weeks of winter

We've reached the homestretch of winter, but that does not mean the risk of ice-related damage has passed just yet. Homeowners should look out for ice dams, which grow at the edges of roofs and cause problems if they melt. The resulting water has nowhere to go, leaving it to leak inside the house, potentially damaging walls and other fixtures. Travelers Insurance offers some helpful tips on how to prevent ice dams.

Introducing our new online home & auto quoting platform 

Plexus is proud to unveil a new online platform designed to streamline the home & auto quoting process for our personal insurance clients. Fill out this brief online form, and one of our dedicated Plexus Private Client Solutions representatives will contact you to begin the process of finding the right insurance for your needs. At Plexus, you are a valued client partner, not an account, and we will protect all you've earned and achieved with a tailored, comprehensive risk management strategy. Want to know more about what Private Client Solutions can do for you? Contact Client Executive David Miller at 847.307.6141 or via email at dmiller@plexusgroupe.com.