Worker Adjustment And Retraining Notification Act (WARN)
Federal law, effective February 4, 1989, that requires company notification of employees prior to laying them off or closing a plant or an office. Workers covered under WARN are to include office workers, field representatives, agents, managers, and any other employees of insurance companies. To be affected by WARN, the company must employ at least 100 full-time employees. Part-time employees are not included in the 100 full-time employees count unless the total hours worked per week by all employees is at least 4000 hours. WARN requires the company to notify its employees of impending layoffs when one or more of the following circumstances occur: At least 500 employees are terminated or laid off during a 30-day period; At least 50 employees are terminated or laid off, comprising at least 33% of the total employment force, during a 30-day period; A plant or an office is closed, whether on a temporary or permanent basis.
Popular Insurance Terms
Coverage in liability insurance for a ship owner in the event of collision with another ship. A running down clause, when added to basic hull marine insurance, protects against liability ...
Mortality table used to calculate the legal reserve and life insurance policy cash surrender values. ...
Liability incurred by a parent by reason of a tort committed by his or her minor child. ...
Agreement in which spouse X (the spouse who is mandated by the court to make alimony and/or child support payments to spouse Y) must put assets (the principal) in a trust, from which the ...
Decrease in value of property as the result of technological advancement and/or changing social mores. This factor is used to measure the amount of depreciation in determining the actual ...
Coverage under a homeowners insurance policy in the event that a credit card is fraudulently used or altered. Fraud includes theft and the unauthorized use of a credit card. ...
Life insurance in which the debit system is used to collect premiums on a monthly basis. ...
Same as term Commercial Health Insurance: coverage that provides two types of benefits, disability income (DI) and medical expenses. Sold by insurance companies whose business objective is ...
Approach that maintains injury or sickness begins when it is first detected by an obvious appearance. This argument is used in determining if liability insurance is afforded in a particular ...
Have a question or comment?
We're here to help.