Category Archives: Business: Insurance

Press Releases from the Insurance world, What’s new, Popular, Trending and News Worthy. In the ever changing industry of Insurance.

Tracy Todaro Hired as Territory Marketing Manager, Shreveport, LA Office


“We are pleased to have found someone with Tracy’s knowledge and experience within our geographic footprint.” – Brian Barrilleaux, President of MJ Kelly

MJ Kelly, a national commercial insurance brokerage operation headquartered in Springfield, Missouri, has hired Tracy Todaro as Territory Marketing Manager of its Shreveport, LA office.

Todaro joins MJ Kelly with extensive experience in the insurance industry. Tracy has been in the insurance industry for over 20 years. First in insurance sales and service at Hoffman-Henry in Little Rock and most recently as a marketing field representative with CRC Insurance Services where she’s based in Shreveport, LA.

Tracy will be responsible for MJ Kelly’s marketing responsibilities for the Shreveport, LA office and surrounding states. Her territory will include Louisiana, Southern Arkansas, and East Texas.

“Tracy comes to MJ Kelly with extensive and strong agency relationships. We are pleased to have found someone with Tracy’s knowledge and experience within our geographic footprint. She will be working closely with the Shreveport office to expand our reach in Louisiana and surrounding states.” said Brian Barrilleaux, President of MJ Kelly.

About MJ Kelly

MJ Kelly is a full-service managing general agency and wholesale brokerage company that provides innovative and competitive insurance products to independent insurance agents. Founded in Springfield, MO in 1976, MJ Kelly has a broad geographic footprint; with office locations spanning Texas, Arkansas, Tennessee, Mississippi, Florida, Missouri, and Louisiana. MJ Kelly’s products have national reach, but our team’s focus is always on our local agents. For more information about MJ Kelly, please visit http://www.mjkelly.com.

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AssuredPartners Announces Acquisition of ENV Property & Casualty, LLC


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AssuredPartners President and COO Tom Riley said, “The team at ENV conveys expertise and a dedication to providing exceptional service to their clients.” We welcome the team and clientele of ENV Property & Casualty to AssuredPartners.”

AssuredPartners, Inc. is pleased to announce ENV Property & Casualty, LLC of Liverpool, NY has joined AssuredPartners. The team of 14 will remain under the operational leadership of John Levanti and Joe Morelli. The agency currently reports $2.5 million in annualized revenues.

“Since 1988, ENV has been committed to providing our clients with customized insurance programs that exceed market demands,” said John Levanti. “By partnering with AssuredPartners, we will continue delivering first-rate services to current and prospective clients.”

“ENV is built upon a tradition of integrity, leadership, and excellence. We are committed to delivering customized benefits with strategic planning and valuable professional services. Through our initiative, we help our clients find answers and implement solutions,” said Joe Morelli of ENV Property & Casualty. “Joining with AssuredPartners will enable us to continue to offer the best resources to our clients.”

“At AssuredPartners, we focus on partnering with agencies that demonstrate a dedication to growth and partners who value building lasting relationships,” said AssuredPartners Regional President Brian Bair. “We are pleased to have the team from ENV Property & Casualty join AssuredPartners.”

AssuredPartners President and COO Tom Riley said, “The team at ENV conveys expertise and a dedication to providing exceptional service to their clients. We welcome the team and clientele of ENV Property & Casualty to AssuredPartners.”

For more information on ENV Property & Casualty, LLC please visit: http://www.insurewithenv.com.

ABOUT ASSUREDPARTNERS, INC

Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners, Inc. acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety and MGU’s) across the United States and in England. From its founding in March of 2011, AssuredPartners has grown to over $1.5 billion in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with over 190 offices in 30 states and England. For more information, please contact Dean Curtis, CFO, at 407.708

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Insurance Experts Explain How To Get Car Insurance Online


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“Not all insurance companies provide online car insurance quotes. And when they do, they are generally just estimates. However, drivers can buy car insurance online through some insurance comparison websites.”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Compare-autoinsurance.org has launched a new blog post that presents how drivers can obtain the best car insurance policy online.

For more info and free car insurance quotes, visit: https://compare-autoinsurance.org/how-to-get-car-insurance-online-2/

Nowadays, more and more people have access to the internet. The digital revolution has opened up an entirely new way of doing business. Drivers are no longer required to work with local car insurance companies. They can shop online at their own convenience. Besides the incredible convenience and choice offered by internet-connected devices, algorithms are also able to process a whole slew of data points at once in order to pinpoint the best car insurance options faster and more accurately than ever before.

By using brokerage websites for comparison shopping, drivers can compare quotes instantly, view quote packages ranked from cheapest to most expensive, buy car insurance policy online or over the phone, make apples-to-apples comparisons, obtain real quotes from reputable provides, avoid scams or sign-up for text alerts.

To get an insurance policy online, drivers need to first enter their ZIP code and do the following:

  • Enter info about the vehicle. All comparison sites will ask the drivers about the vehicle make and model, or about features like a GPS system or safety equipment that can affect the price of insurance. Luxury vehicles and cars with expensive safety features or high-end audio cost more to repair and will increase the price of insurance. The likelihood of a vehicle to be stolen will also affect the price of insurance.
  • Enter info about how the car is being used. Drivers who use their cars to commute to work will pay more than those drivers who use their cars only on vacation or for pleasure driving. Also, how many miles are driven each year is an important factor that needs to be mentioned. Furthermore, policyholders will be asked if they own the car, they are making payments, or they lease it.
  • Enter info about the driver. In this section, drivers are required to fill in personal information such as name, age, location, gender, marital status, credit score, and education level. With these data, insurance providers can use statistics to predict how likely a driver can crash. For instance, teen drivers generally have higher insurance rates because they’re more likely to get in a car accident than almost any other age group.
  • Add information about past or current insurance coverage options. Drivers will have to tell if they are currently insured or not, if their car insurance lapsed, details about past insurance claims, details about their previous insurance company, how long they have been with the previous insurer, or deductible level.
  • Add information about previous car accidents, or tickets. The driving record can make a big difference in the final insurance quote. A history of accidents, speeding tickets, and DUIs can obviously raise the car insurance rates, but drivers can also get higher insurance quotes if they don’t have a driving record yet.

The final results include more than just a sample of waiting providers and rates. Drivers can view and purchase coverage from auto insurance companies precisely matched to their insurance profile.

For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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Homeowners of America Insurance Company Announces Milestone


I want to express how grateful we are to have such an amazing group of agents…

Homeowners of America Insurance Company (HOAIC), a property and casualty insurance provider, has announced the noteworthy milestone of adding their two hundred thousandth customer to the company’s book of business as of June 25, 2020.    

In an internal announcement, Spence Tucker, President and CEO of HOAIC thanked his employees for making this happen and said, “This is an amazing accomplishment and you should be proud of your contribution. Reaching and maintaining this amount of customers has been made particularly difficult by the current pandemic but what we do is important. Our customers count on us to protect their most valuable assets.” Tucker also thanked HOAIC’s independent agent partners saying, “I want to express how grateful we are to have such an amazing group of agents to work alongside. This wouldn’t have been possible without you.”

Homeowners of America also has over two hundred million in premiums on the books and continues to grow as they write business through independent agent partnerships in six states with plans to add more in the near future.

About Homeowners of America Insurance Company

Homeowners of America Insurance Company (HOAIC) is based in Irving, Texas. The company provides property and casualty insurance in Texas, Arizona, Virginia, North Carolina, South Carolina, and Georgia and insures over 200,000 homes. HOAIC has been assigned a Financial Stability Rating of A, Exceptional by Demotech, Inc. For more information, visit https://hoaic.com.

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Financial Fitness Group Expands Partnership with the Iowa Insurance Division to Continue to Provide Financial Literacy to Every Iowan


Example of User Experience for My Courses section of platform

“We’re proud to help Iowans take steps toward a more secure financial future,” Iowa Insurance Commissioner Doug Ommen said. “I encourage all employers and affiliate organizations to join us in providing these resources to their employees and members. It’s free and easy to do but can make a big imp

Financial Fitness Group (http://www.financialfitnessgroup.com) and the Iowa Insurance Division announce the extension of their partnership to provide financial education to Iowans. For the last seven years, the Iowa Insurance Division, in collaboration with the Financial Fitness Group, has offered the Iowa Financial Fitness Challenge to all employers and large affiliate organizations in Iowa. This public service initiative is sponsored and funded by the Iowa Insurance Division at no cost for employers and their employees to access the program.

“We’re proud to help Iowans take steps toward a more secure financial future,” Iowa Insurance Commissioner Doug Ommen said. “I encourage all employers and affiliate organizations to join us in providing these resources to their employees and members. It’s free and easy to do but can make a big impact to Iowans.”

Now more than ever, the impact of financial literacy on the American workforce is critical. Recent studies suggest that in light of COVID-19, employees are now facing new work-life challenges in the current crisis, with two out of three employees stating they feel even more stressed now than before the pandemic. Financial health has been directly linked to poor physical, mental, and social health and can cost an employer up to $2000 on average per employee.

“When we first engaged with the Iowa Insurance Division in 2013, we never imagined we would impact financial literacy in the state of Iowa as we have,” said Joe Saari, Founder of the Financial Fitness Group. “Since we launched the Iowa Financial Fitness Challenge, we’ve engaged more than 400 organizations and financially educated over 200,000 employees within Iowa.” He continued, “It is an honor to have extended this partnership for the next three years with the Iowa Insurance Division to continue to provide free financial wellness to every Iowan, especially during today’s economic crises due to COVID-19.”

More than 400 organizations have participated in the program over the last five years, including Genesis Health System, Des Moines Public Schools, YMCA of Greater Des Moines, Iowa Catholic Radio, Girl Scouts of Greater Iowa, and Mercy Medical Center to name a few.

Here’s how the Iowa Financial Fitness Challenge works:

  • Each organization’s platform is branded and comes pre-loaded with five-course topics on personal finance and investing fundamentals.
  • Throughout the challenge, participants are quizzed after each course, to set a baseline for where they should focus their attention. The platform then intuitively recommends other courses to the participants based on their lack of what they call the A, B, C’s of Financial Wellness – aptitude, behavior, and confidence, with respect to specific financial topics.
  • After completing the last course, users are assessed based on metrics from the quizzes they take throughout the program to see the impact of the program. Each organization’s administrator is then issued a final report that illustrates changes in financial wellness scores, knowledge, behaviors, and attitudes of their participants.

Each course takes about 1 hour to complete and is accessible anytime, anywhere from any computer, tablet, or smartphone. Spending as little as 10 minutes a day, users can go at their own pace, taking as long or as short a time as they would like to complete it. The Iowa Financial Fitness Challenge is proven to lower stress and distractions, as well as increase employee productivity. 70% of participants improved their financial literacy confidence levels after completion of the challenge, while 48% of participants improved their knowledge of basic finances.

The Financial Fitness Challenge occurs twice per year, once in April and once in September, and is offered for free on a first-come, first-serve basis to employers who apply to participate in the program. The program is provided to employer groups as well as affiliate organizations with large memberships who would like to offer financial literacy as an added member benefit. The next challenge begins on September 9, 2020, and spots are filling up quickly. To learn more about the program and apply for this fall’s challenge, organizations may visit financialfitnessgroup.com/iowa.

About Precision Information, DBA Financial Fitness Group:

Financial Fitness Group is a leading e-learning software company providing unbiased, FINRA-compliant educational content. Our interactive platform maximizes participant engagement and is proven to improve a user’s financial aptitude, behavior, and confidence. Financial Fitness Group is the leading provider of personal finance and investing learning solutions to financial service providers, government agencies, and Fortune 500 companies.

For additional information, images, and press materials, please contact Georgette Regan, georgette@financialfitnessgroup.com.

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NFP Welcomes Lauren Kim, SVP, Legal and Technical Leader, to Financial Institutions Group


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“We continue to be a destination for top talent and will invest in our NFP specialty business by welcoming experts who understand the unique nuances and complex risks across industries and their corresponding products,” said Doug Turk, NFP’s specialty leader.

NFP, a leading insurance broker and consultant that provides property and casualty, corporate benefits, retirement, and individual solutions, today announced the hiring of Lauren Kim as senior vice president. Kim will join NFP’s specialty financial institutions group as its legal and technical leader. This hire aligns with NFP’s continued efforts to expand specialty operations and industry vertical expertise.

NFP’s financial institutions group (FIG) is a specialty line that provides deep industry and product expertise for financial institutions — banks, insurance companies and investment management firms. It is uniquely positioned as one of the only financial institutions teams in the industry that helps clients access the global markets with advisory and insurance placement services across the full continuum of specialty property and casualty lines. The FIG team is comprised of experts in liability exposures, cyber security and lender’s risks.

Kim comes to NFP with more than a decade of legal experience, first as a practicing attorney and most recently as the financial institutions claims practice leader with QBE North America. At QBE, she provided superior client service in responding to the complex needs and legal exposures of financial institutions. As part of NFP, she will be an integral member of the FIG client service team. Her responsibilities will include technical risk consultation, legal and regulatory analysis, thought leadership development, and claims advocacy related to NFP’s financial institutions clients and prospective clients. Kim will report to Mark Flippen, managing director and head of NFP’s financial institutions group.

“We are thrilled to welcome Lauren to NFP,” said Flippen. “A major differentiator in our service offering for financial institutions is our integrated legal and technical client advocacy. This is a reflection of our philosophy that as financial institutions specialists, we best position our clients’ risk profile in the global markets by delivering best-in-class insurance contracts, fit for purpose during a claim, and by keeping our clients advised of market dynamics, including the impact of legal and regulatory changes. As an integrated part of our team, Lauren will help us execute on all aspects of our service to clients.”

“We continue to be a destination for top talent and will invest in our NFP specialty business by welcoming experts who understand the unique nuances and complex risks across industries and their corresponding products,” said Doug Turk, NFP’s specialty leader. “We’re very happy to welcome Lauren to the FIG team.”

About NFP

NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,600 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 6th largest US-based privately owned broker, and 8th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).

Visit NFP.com to discover how NFP empowers clients to meet their goals.

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Mercury Insurance Extends Identity Fraud Resolution Services Coverage to Include Relatives Outside of the Insured Residence


This coverage helps with the recovery process if identity fraud is detected, giving our customers and their families one less thing to worry about during these uncertain times.

Today, Mercury Insurance (NYSE: MCY) announced that, until August 31, 2020, it has temporarily extended Resolution Services coverage for its “Identity Fraud Expense and Resolution Services” customers to include their relatives who don’t live in the insured residence. This coverage, which is available to Mercury homeowners and renters policyholders, helps customers recover from account takeover or identity theft.

The IRS extended this year’s tax filing to July 15, 2020, to reduce the COVID-19 pandemic outbreak’s impact on taxpayers. While this extension offers some much-needed relief to those who may be struggling financially, it also lengthens the window in which criminals are able to target unsuspecting individuals with a variety of scams in an attempt to steal their identity, as well as refunds that may be coming their way.

“Criminals have many ways they can try to steal someone’s identity – most people have multiple online accounts, as well as electronic devices like smartphones, PCs and tablets, which makes them more vulnerable to scams than ever before,” said Jane Li, Mercury Insurance director of product development. “This coverage helps with the recovery process if identity fraud is detected, giving our customers and their families one less thing to worry about during these uncertain times.”

Each year, the IRS publishes its “Dirty Dozen” list of tax scams of which taxpayers need to be aware. The 2019 list includes the following schemes taxpayers may fall victim to: phishing, phone scams, identity theft, return preparer fraud, inflated refund claims, falsifying income to credit claims and fake charities.

Mercury’s Identity Fraud Expense and Resolution Services coverage provides support for a variety of events, including but not limited to:

  • Tax Identity Theft Support: Experts provide guidance to secure the insured’s tax refund if their social security number was stolen and someone falsely files taxes in their name.
  • Email Identity Support: Protects against email hacking, as well as helps the insured manage their identity and privacy in online communications.
  • Phish Assist: Detects attempts to steal the insured’s personal data, online usernames, passwords and credit card data, and provides recovery support if needed.
  • Document Replacement Services: Helps the insured replace lost, stolen or destroyed identification documents, and notify government agencies and providers of the fraud.
  • Resolution Services: Offers unlimited assistance from a fraud resolution specialist to fix issues, handle notifications, and provide credit and fraud monitoring to help the insured recover from account takeover or identity theft. This coverage is temporarily available until August 31, 2020, for the insured’s family members who live outside of the household.

Mercury’s Identity Fraud Expense and Resolution Services is optional coverage, which is available for less than $3 a month and provides up to $25,000 for expenses that might be incurred if the insured’s identity is stolen, including lost income, notary and attorney fees, mailing costs and loan application fees. Homeowners and renters in Arizona, California, Georgia, Illinois, Nevada, New Jersey, Oklahoma, Texas and Virginia can add this coverage to their policy. Go to https://www.mercuryinsurance.com/insurance/identity-management-services/ or contact a local Mercury Insurance agent to learn more.

Additional ways Mercury has shown support during the COVID-19 pandemic include the Mercury Customer Giveback Program and its new partnership with the California Medical Association’s Care 4 Caregivers Now wellness program for healthcare workers.

About Mercury Insurance

Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners and business insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information, visit http://www.mercuryinsurance.com or Facebook and follow the company on Twitter.

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Eighth Circuit Affirms $34.3M Jury Verdict Against State Farm Life Insurance Co.


“The court’s decision affirms that, simply put – if you want to charge for it, you need to put it in the contract.”

The class action was filed in June 2016, in the Western District of Missouri by Michael Vogt and other individuals who owned universal life insurance policy form 94030 issued by State Farm. The lawsuit alleged that State Farm breached the terms of the policies by overcharging policyholders through cost of insurance provisions causing policies to lose value and in many cases lapse, leaving many without life insurance.

Trial commenced June 1, 2018 and the jury awarded $34.3 million to approximately 24,000 Missouri policyholders. State Farm appealed to the Eighth Circuit asserting various errors and Vogt cross appealed. Vogt prevailed on all issues.

“We’re very happy with the court’s decision to affirm the trial court,” said John Schirger, co-lead counsel and founding partner of Miller Schirger LLC. “We hope that these policyholders, who for decades were unknowingly overcharged, will soon finally receive payments.”

“Many insurers define the cost of their insurance fees by delineating factors outside typically considered mortality elements and in this case the costs of charges weren’t outlined with specificity,” said Norman Siegel, co-lead counsel and founding partner of Stueve Siegel Hanson LLP. “The court’s decision affirms that, simply put – if you want to charge for it, you need to put it in the contract.”

Stueve Siegel Hanson LLP and Miller Schirger LLC are currently representing clients in similar cases in California, Texas and the State of Washington, and are investigating matters involving life insurance policies nationwide. The firms have a successful record prosecuting class action cases alleging policy overcharges against the life insurance industry, having collected over $2.25 billion in client value over the last five years against some of the nation’s largest life insurance companies.

Stueve Siegel Hanson LLP is a Kansas City, Missouri based firm representing businesses and individuals in high-stakes litigation nationwide on a contingency basis. The firm is one of the preeminent plaintiff’s trial law firms in the nation, known for its high-stakes, landmark verdicts and settlements in significant individual and class action litigation. Since its establishment in 2001, the firm has led some of the most complex and high-profile cases in state and federal courts, recovering billions in verdicts and settlements. For more information visit http://www.stuevesiegel.com.

Miller Schirger LLC is a Kansas City, Missouri based law firm focused on resolving complex disputes on behalf of businesses and individuals nationwide. The firm has a proven track record of success representing plaintiffs and defendants in state and federal trial and appellate courts. For over ten years the firm’s class action practice has been focused on prosecuting claims against the life insurance industry, resulting in the recovery of over $2.25 billion in client value. For more information visit http://www.millerschirger.com.

Vogt v. State Farm Life Insurance Co., No. 18-3419 (8th Cir. 2020)

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How Unemployed Drivers Can Save Money on Auto Insurance


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“The best way to find affordable car insurance while being unemployed is by comparing online quotes from insurance providers that are available in the area.”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Compare-autoinsurance.org has launched a new blog post that presents several measures unemployed drivers can take to get cheaper car insurance.

For more info and free car insurance quotes, visit https://compare-autoinsurance.org/how-to-find-cheaper-car-insurance-after-losing-your-job/

The current coronavirus outbreak has caused millions to lose their jobs. Many people are struggling to pay their rent and utilities, even though they have no income or they have to rely on an unemployment check. Car insurance might be one place where many can reduce their expenses.

Unemployed drivers who are looking to save money on car insurance should do the following:


  • Contact the insurance provider. Many car insurance companies are offering discounts, refunds, bill payment flexibility, and other options as many drivers are struggling in these challenging times. Although most companies had resumed normal billing by the end of May 2020, they are still ready to help customers who are going through difficulties. The best solution for unemployed drivers is to contact them directly and let them know about their job status.
  • Check the current policy. Keeping full coverage on an older vehicle while being unemployed is just a waste of money and unemployed drivers should avoid doing so at least until they get a new job. Raising the deductible to pay lower premiums is another great move drivers can make to save some money on car insurance. Most unemployed drivers are no longer required to make a commute and they have a reduced driving risk. For this reason, they should contact their insurers and ask for a low-mileage discount.
  • Be safe on the road. While being unemployed, drivers should avoid getting a DUI, speeding ticket, or a moving violation on their driving records. By doing so, drivers will keep their premiums low.
  • Maintain a good credit score. Not paying bills on time can backfire. The credit score is a major factor in how the rates are set in every state but California, Hawaii, and Massachusetts. Drivers with poor credit can pay nearly twice as much for the same policy as someone with excellent credit.
  • Shop around. Don’t pick the first option that looks good. Unemployed drivers should have plenty of time to check around and compare multiple quotes from different insurance companies.
  • Look for discounts. Unemployed drivers who are also students can get a good student discount if they have good grades in school. Drivers who are moving to a work-from-home career or are driving little should look for providers who are offering pay-per-mile insurance policies. Also, drivers who already have homeowners, renters, condo, life insurance, or other insurance, should think about bundling all household policies with the same company to get a multi-policy discount.
  • Install a telematics device. These policies usually use an under-the-dash plug-in device or smartphone app to check the driving habits. The acceleration, braking, distance, speed, route choice, and time of day can all affect the total savings. Not going back and forth to work five days a week should qualify unemployed drivers for a reduced rate.
  • Apply and pay online for coverage. Buying car insurance on the internet can give the driver a discount. Also, drivers can get a slightly larger discount for electronic payments from their bank account rather than a credit card because of the lack of processing fees. Furthermore, unemployed drivers can save money by paying for the whole policy upfront.

For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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BKD Launches Tool to Help Healthcare Providers Track CARES ACT Funding


“BKDTrackForward allows healthcare leaders to streamline and track the funding they receive, allowing them to focus on their mission,” said National Industry Partner Danielle Solomon.

NATIONAL OFFICE – BKD CPAs & Advisors developed and launched a unique tool called BKDTrackForward to help healthcare organization leaders monitor Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Provider Relief Funds.

The CARES Act has provided the healthcare industry with more than $175 billion in relief funding since it was signed into law on March 27, 2020. However, to retain the funding received, it’s anticipated that organizations will be required to provide proof that the funds were used to support healthcare-related expenses or lost revenues attributable to the coronavirus. BKDTrackForward users can track how they spent CARES Act funds, allowing them to be better prepared when regulators ask for documentation.

“Our team understands the uncertainty and complexity healthcare leaders are facing and we are here to be a trusted advisor and assist however we can. BKDTrackForward allows healthcare leaders to streamline and track the funding they receive, allowing them to focus on their mission,” said National Industry Partner Danielle Solomon.

The tool can help users document allowable expenses and labor costs in one place, record the calculation of lost revenues attributable to COVID-19, compare expected CARES Act Provider Relief Funds to amounts received to determine if healthcare leaders have obtained all entitled funds and track Medicare accelerated payments, employer payroll tax deferrals, and a high-level analysis of an organization’s potential to file a business interruption claim as a result of COVID-19.

Visit bkd.com/trackforward for more information and to request a demo.

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