Watkins Insurance Group

Natural disasters, tighter underwriting standards, and nuclear verdicts are reshaping the Texas insurance market. Patrick Watkins, CIC, CRM, CEO of Watkins Insurance Group, breaks down the forces driving these shifts and offers actionable strategies to protect the bottom line. Stay informed and prepared by reading his latest article in the Austin Business Journal. https://lnkd.in/gZKqQjBT

The deadline for the annual Medicare Part D Notices is fast approaching. By October 14, 2024, all employers offering group health plans with prescription drug coverage must notify plan participants about their coverage status—whether it’s creditable or non-creditable. Here's what you need to do: * Notify All Eligible Participants: Ensure creditable or non-creditable coverage notices reach all employees and dependents eligible for Medicare Part D by the deadline. * Include Notices in Your New Hire Process: Many employers seamlessly incorporate these notices into their new hire process and Employee Benefits enrollment guides. * Since it's hard to know who is Medicare-eligible, it's best practice to give the notice to all employees eligible for benefits to ensure they share it with dependents. While there are no direct penalties for missing this deadline, neglecting it can negatively impact Medicare-eligible individuals—leading to possible late enrollment penalties if they later enroll in a Medicare Part D plan without having been informed about non-creditable coverage.

As Cybersecurity Awareness Month unfolds, let's take this opportunity to reflect on our cybersecurity posture and take proactive steps toward safeguarding our businesses. Cybersecurity has transitioned from a 'nice-to-have' to a 'must-have,' yet many businesses are playing catch-up with cybercriminals. Our agency is committed to walking alongside businesses, offering consultation, and tailoring cyber insurance and risk management solutions that meet your unique needs. Our latest blog: https://lnkd.in/g_JbQZY4

October is Cybersecurity Awareness Month. The risks we face online are evolving rapidly. Watkins VP Mike Draeken recently participated in a thought-provoking round table discussion with other industry experts and the Austin Business Journal, diving deep into the cybersecurity challenges businesses face today. The conversation covered critical ground for any organization looking to fortify its digital defenses, from talent shortages to emerging threats. Key takeaways include: * The importance of a security-minded culture, driven from the top down * Why cybersecurity is a practice, not just a technology * How to approach security with limited budgets * The value of cyber insurance in today's threat landscape Read the full article to gain insights that could protect your business: https://lnkd.in/gc3YP8M8

The Summer Fan Drive 2024, organized by Family Eldercare, has successfully concluded, providing cooling relief to over 8,000 Central Texans. This annual initiative highlights the critical need for community support during extreme weather conditions. Watkins Insurance Group has been a proud supporter of Family Eldercare's initiatives since 2008, witnessing firsthand the positive change this organization brings to our community. These fans serve as essential lifelines for seniors and individuals with disabilities during our scorching Texas summers. By distributing these simple yet effective devices, Family Eldercare (as well as its volunteers and sponsors) has made a significant impact on the well-being and safety of vulnerable community members. To learn more about how you can support Family Eldercare's mission, visit https://lnkd.in/gnFkVbq6. #SummerSafety #FanDrive #CommunitySupport

Are you ready for the 2024 employer reporting requirements? Join us for an enlightening webinar on October 17th that will demystify the complexities of Forms 1094s and 1095s. Don't let the IRS submission deadline catch you off guard! What you'll learn: * A refresher on employer reporting requirements * Answers to common questions and misconceptions * Best practices for reporting offers of coverage to full-time employees * Tips for managing enrollment data effectively Whether you're a seasoned pro or new to the game, this webinar is your ticket to compliance confidence. We'll serve up practical insights you can use immediately. Registration: https://lnkd.in/gMRkU2jr

We’re proud to announce our CEO, Patrick Watkins, CIC, CRM, has been nominated for the Best CEO Award by the Austin Business Journal. This recognition speaks to his exceptional leadership, strategic vision, and commitment to innovation in the insurance industry. Congratulations to Patrick on this outstanding achievement! https://lnkd.in/gp_entcw

As we approach a pivotal election, stay ahead of potential compliance changes that could impact your business. During this webinar, the panel will cover: * Potential compliance impacts based on election outcomes * Recent legislative actions and agency guidance * Anticipated developments for the remainder of the year Don't miss this opportunity to prepare your organization for what's ahead. https://lnkd.in/eS2BwYWb

Q2 2024 Commercial Insurance Market Update Rates are moderating, but challenges persist. Our latest blog breaks down: * Premium trends across sectors * Regional variations * Tech's impact on underwriting * Top concerns for businesses Is your coverage strategy ready for these shifts? Read our analysis to stay ahead of the curve. https://lnkd.in/gYTYnyTH

We're proud to have sponsored the ice cream social at the Whitlow Good Neighbor Event in Round Rock, hosted by Capital IDEA. This gathering was a fantastic opportunity to support the Career Expressway students in Williamson County and to celebrate the incredible achievements within our community. A big congratulations to Jesse Navarrete for receiving the 2024 Whitlow Good Neighbor Award—well-deserved recognition for your hard work and dedication! (Pictured here with Watkins Insurance Advisor Will Peckham, CIC) We’re grateful for opportunities like this to support educational and career development initiatives in our community.