Tag Archives: job security

Study Shows Millennials Are Excited About The Insurance Industry

Young Man Workplace

The insurance industry is full of exciting and lucrative opportunities. It can serve as the perfect platform for someone of versatile talents to showcase their skills and continue flourishing at the same time.

According to a recent study by Vertafore, millennials agree.

Companies often look for young and energetic professionals that they can nurture and develop to fill various roles. In turn, millennials appreciate the stability and career-growth opportunities available. There are many benefits to working in the insurance industry and millennials are beginning to feel at home and stick around. The study states:

  • 82% of millennials working in insurance would recommend the field and that 39% have indeed been recruited by their friends.
  • 67% of millennials have been in the insurance industry for three or more years and have plans to stay as long as possible.
  •  63% of millennials recognize the growth opportunities as the most favorable benefit.
  • 55% believe the compensation is the most rewarding component.
  • 50% appreciate the refreshing work/life balance the industry affords them

According to Vertafore, there’s an abundance of optimism around the industry, and rightfully so. Insurance will be around forever! Regardless of the economic climate, there will always be a need for it. Such a foundation lays the groundwork for the potential of increased job security.

Millennials believe the future is bright. Such a sentiment goes far beyond these promising percentages. Working in the industry is very rewarding. Those who work in insurance feel a sense of purpose, able to protect people, their families, and respective assets.

The millennials have spoken. Looking forward to seeing for yourself? Visit our career page to stay on top of the opportunities we may have for you moving forward.

New York Paid Family Leave Law: Key Information, Dates and Reminders

Newborn with parents

New York’s new Paid Family Leave (PFL) law will go into effect on January 1st, 2018. This is a mandatory benefit for all New York employees, and employers have the option to approach their employees to make early deductions. Beginning July 1st, 2017 employers can start making these deductions. In the interest of sharing more information, Petschauer Insurance would like to answer some pressing questions to help readers understand how this law impacts you.

What is PFL & who qualifies for this benefit?

PFL supplements part of an employee’s income while they are out of work. Full-time employees who have worked 26 consecutive weeks and part-timers who have worked a minimum of 175 days are all eligible.

When can you take PFL?

Paid Family Leave can be taken for newborn bonding and/or foster adoption (within one year of birth/placement), the caring of a seriously ill family member, or family exigency/military leave. The need for exigency leave will arise if a covered military family member is on covered activity duty or active duty status.

How much will PFL pay?

In 2018, employees will be eligible for 50% income replacement for a maximum of 8 weeks. An employee’s approved time off and income replacement percentage will continue to increase through 2020.

How much will PFL cost?

Employees fund PFL through payroll deductions. The premium or contribution will be equivalent to .126% of an employee’s weekly wage, capped at $1.65 per week for New York’s average wage of $1,305.92.

Will you have job protection?

All eligible employees have job protection while out on Paid Family Leave.

Have more questions about Paid Family Leave? Please contact us today!