Quick Facts:
- The Bipartisan Budget Act (Act) was signed into law on Nov. 2, 2015.
- The Act allows OSHA to increase the maximum penalties for safety and health violations.
- The increases will become effective by Aug. 1, 2016.
- The penalty amounts will continue to be adjusted for inflation each year.
On Nov. 2, 2015, President Obama signed the Bipartisan Budget Act of 2015 (Act), which is a two-year budget deal. One provision in the Act will allow OSHA to increase the maximum penalty amounts it imposes on employers that violate occupational safety and health standards. These increases will become effective Aug. 1, 2016.
Justifica
When your business gets a commercial insurance policy, in many cases the premium assigned isn’t final. It’s actually an estimate. Insurance carriers assign a premium from an informed estimate, based on prior years of business activities. Of course with business changes estimates can be off. The purpose of insurance premium audits is to use actual sales and operations data to … Continue reading Why Insurance Companies May Audit Your Insurance Policy →
