News
PIACT’s Annual Convention is one week away—last chance to register online
In just one short week, PIACT’s Annual Convention is set to launch at Foxwoods Resort Casino in Mashantucket, Conn. From March 20-21, 2025, you’ll have the chance to take high quality, CE-approved courses, expand your network of insurance professionals and meet with some of the best vendors in the industry to help you grow your business. Don’t forget about the CTYIP Welcome Reception, too: separate registration here. Register for the Connecticut Convention today; at-the door-prices will be higher.
Liberty Mutual to retire Safeco; existing policies unaffected
Liberty Mutual Insurance has announced that it will market and sell all its personal-lines products solely under the Liberty Mutual brand, starting in 2026. This means that Safeco Insurance, the company within the independent agent channel, will retire as a brand. What this means for agents and their clients: Liberty Mutual is not doing away with the products it sells under the Safeco brand. Customers will keep their agent relationship, and their policies will not be impacted by the change. The change is meant to unify Liberty Mutual’s insurance offerings under a single, unified brand.
N.Y.: Long Island’s Pine Barrens impacted by brush fires
Over last weekend, brush fires broke out across hundreds of acres of Long Island’s Pine Barrens. The fires started Saturday morning, which prompted Gov. Kathy Hochul to declare a state of emergency in Suffolk County as New York mobilized to respond to the fires. By Sunday morning, the fires were under control, and by Monday they were totally contained. The cause of the fires, according to The New York Times, is presently determined to be accidental, and was exacerbated by high winds and an abundance dead pine trees due to the invasive Southern Pine Beetle.
Advocacy
Government shutdown looms: NFIP could lapse
There is the possibility that the United States government may shutdown this Friday, leading to the cessation of operations of the government. This includes the expiry of the National Flood Insurance Program. Since 2017, the NFIP has been extended 32 times with no long-term reauthorizations. A lapse of the NFIP would be detrimental for consumers—it disrupts new and existing coverage, leads to delayed claims processing and chills homeownership. While there is still time, you can make your voice heard and tell your member of Congress to extend and reauthorize the NFIP for as long as possible.
Conn.: Priority excess-and-surplus lines legislation advances out of committee
The effort to modernize Connecticut’s excess-and-surplus lines insurance process has taken a major step forward. The Joint Committee on Insurance and Real Estate has officially released, H.B.6981, with PIACT’s proposed changes fully incorporated—a crucial win for independent agents and brokers across the state. The bill will now head to the full legislature for consideration. PIACT will continue working to ensure its passage, helping independent agents and brokers better serve their clients. Stay tuned for further updates as the bill progresses through the legislative process!
Key bills PIANJ is monitoring
The 2024-25 legislative session in New Jersey is past its midpoint, and PIANJ is tracking numerous bills that could impact the insurance industry significantly. From motor vehicle liability to home improvement contracts and personal injury protection, these proposed laws could reshape the regulatory landscape for insurers, agents and policyholders across the state. Here’s a breakdown of the key bills PIANJ is following and what they could mean for agents, brokers and policyholders.
PIANY priority litigation financing bill passes Senate
For New York state’s current legislative session, PIANY has recognized the strong need to support S.1104/A.3225, the Consumer Litigation Funding Act, which would introduce critical regulations to protect consumers from predatory litigation financing. Without proper oversight, litigation funding companies exploit plaintiffs, drive up settlement costs, and ultimately, increase insurance premiums for businesses and consumers across New York state. On March 3, 2025, the bill passed the state Senate (61-0) and has been sent to the Assembly—PIA Northeast members can learn more about predatory litigation financing in What is third-party litigation funding? How it works and its impact on insurance in the PIA QuickSource library.
New N.Y. bills: CE credits, anticoncurrent causation, commuter vans and more
The New York state Legislature has introduced several new bills that carry significant implications for the state’s insurance industry. This includes a bill that would allow licensed insurance producers to carry forward up to seven excess CE credits into their next licensing cycle; a bill that would limit the use of anticoncurrent causation clauses in certain circumstances; and a bill that would create a captive insurance program specifically for commuter vans; and a bill that would allow the DFS Superintendent to engage consultants to help with reviewing rate and form filings submitted by insurers. A chapter amendment also was signed, which further limits how much flood insurance mortgage lenders can require. PIANY will continue to follow this legislation and other bills that would affect independent agents and their clients.
Technical
The ever-present liability risk in products
After entrepreneurs manufacture and sell their product, a piece of them remains with it—no, this isn’t sentimentality, it’s the product’s liability risk. Even after a product has left their shelves, it still can create exposures for the manufacturers. To learn more about this subject, PIA Northeast members can access I made it for someone else, but I own the liability in the PIA QuickSource library.
Vt.: NCCI 2025 WC loss cost decrease of 7.4% approved
The Vermont Department of Financial Regulation approved the revised workers’ compensation voluntary loss cost filing made by the National Council on Compensation Insurance—consisting of an overall 7.4% decrease. In addition, a decrease of 11.3% of the overall assigned risk rates was approved. These loss costs and rates will take effect Tuesday, April 1, 2025. For additional information, PIA members can access Vermont 2025 workers’ compensation rates, loss costs and 2025 loss-cost multipliers.
Educating insurance agents
PIACT’s Annual Convention sessions approved for update credit through the Risk & Insurance Education Alliance
If you’re ready to dive into the education sessions at PIACT’s Annual Convention, you will be excited to learn that they have been approved for an update credit through the Risk & Insurance Education Alliance. This new opportunity is available for holders with CIC, CRM, CPRM, and CISR designations. To learn more about the update credit, send inquiries to updatehelp@riskeducation.org, or visit the FAQ page. Annual Convention is next week! If you have not already registered for the two-day event, please do so: time is running out!
Events
NJYIP Swing and Connect a swingin’ success
PIA would like to thank everyone who was able to attend PIANJ’s 2025 Swing and Connect at Baseline Social in Oceanport, N.J. Attendees had the opportunity to expand their network, as well as enjoy friendly competitions that put their golf skills to the test. We would also like to thank the many generous sponsors for the event, which include PL Risk, Axon Underwriting, Ironpeak and Barclay & Braddock. View the photo album for the PIANJ Swing and Connect here.
Register now
Wednesday, March 19, 2025: Connecticut Convention Welcome Reception
March 20-21, 2025: Connecticut Convention—
Interested in sponsoring, advertising or exhibiting? Click here.
Tuesday, March 25, 2025: NY-YIP Pre I-Day Happy Hour
Wednesday, March 26, 2025: Buffalo I-Day
Wednesday, May 7, 2025: NJYIP Golf Open
Thursday, May 22, 2025: PIANJ Women’s Leadership Alliance Pickleball Tournament and Networking
June 8-10, 2025: PIANJ | PIANY Annual Conference—
Interested in sponsoring, advertising or exhibiting? Click here.
Tuesday, June 10, 2025: YIP Fun Run
Tuesday, June 17, 2025: CTYIP Golf Open
Tuesday, June 17, 2025: PIWA Spring Reception
Thursday, July 24, 2025: NJYIP Summer Breeze Bash
Save the date
Sunday, June 8, 2025: NJYIP Nitecap
Monday, June 9, 2025: Deep Dive Live: Tech Tactics
Monday, Aug. 11, 2025: NY-YIP Annual Golf Outing
Tuesday, Sept. 9, 2025: NY-YIP Albany Fall Soiree
Monday, Sept. 29, 2025: PIANJ with WLA Golf Classic
Thursday, Oct. 16, 2025: CTYIP Gala
Tuesday, Dec. 2, 2025: NJYIP Holiday Reception
