(1) The insurance contract refers to any agreement or other transaction by which one party, the insurer, is required to give financial value to another party, the insured or the beneficiary, based on an accidental event in which the insured or beneficiary has or will have a substantial interest at the time of such an event, which is affected by the events of such an event. The concept of benefits for multiple employers refers to a worker welfare plan or any other agreement (except for a workers` social protection plan) established or maintained to workers of two or more employers (including one or more self-employed) or their beneficiaries for the purpose of offering or granting a benefit covered by paragraph 1, except that this clause does not include such a plan or any other agreement. , under or following one or more agreements entered into by the secretary as collective agreements, (ii) by a rural electricity cooperative or (iii) by a rural telephone co-operative. We will detail all these things in due course. CFI is the official provider of the Global Certified Banking – Credit Analyst (CBCA) ™CBCA™ CertificationLe Certified Banking – Credit Analyst (CBCA) accreditation ™ is a global standard for credit analysts who cover finance, accounting, credit analysis, cash flow analysis, contract modeling, credit repayments and much more. Certification program to help everyone become a world-class financial analyst. To continue your career, the additional resources of CFI below are useful: the second major change induced by the AHP rule has an impact on the concept of community. She does it in two ways. Previously, we had found that, under the leadership of traditional MEWS, the main objective of the association must be to promote the commercial interests of members and not to enter into insurance. Under the AHP rule, the primary objective of the affiliate may be to provide insurance, provided that it has at least one other essential purpose that has nothing to do with the provision of insurance. While the AHP rule does not define “essential commercial purpose,” DOL provided some useful examples. These include: the 2018 AHP rule has expanded an association`s criteria that it can be considered an employer and brings us to the second non-intuitive meaning of the term.
We found earlier that the benefits of a MEWA are only realized if the organizing association is considered an employer for the purposes of ERISA. These benefits are particularly beneficial for small employers.