News
Were you at Connecticut Convention?
This year’s PIA Connecticut Convention has come and gone, but it was unforgettable experience for those in attendance. From March 20-21, more than 300 insurance producers from the Northeast gathered to network, learn and expand the capabilities of their businesses. Highlights from the two-day convention included an address by PIA National President Ariel Rivera, MBA, CIC, CPIA, the presentation of the Company Person of the Year award, the PIACT and CTYIP change of administration, the sold-out trade show, insightful education seminars and the numerous opportunities for agents to develop new connections. PIA would like to extend thanks to everyone who was able to attend: We hope to see you again next year! Plus, watch your PIA publications for more on the convention, including photos.
PIACT elects officers, president, for 2025-26
PIACT elected Kevin McKiernan, CIC, CPIA, president during the association’s annual convention held March 20-21, 2025, at Foxwoods Resort and Casino in Mashantucket, Conn. McKiernan is president of Abercrombie, Burns, McKiernan & Co., in Darien. The association also elected a full slate of officers during its Annual Business Meeting. Katie Bailey, ACSR, CLCS, CPIA, will serve as president-elect; Kimberly Tompkins, CIC, AIS, AINS, CRIS, ACSR, CPIA, PHM, will serve as treasurer; Jeffrey Krar will serve as secretary; and Nicholas Ruickoldt, CISR, CPIA, will serve as immediate past president.
CTYIP elects officers and board of directors
Also at the Connecticut Convention, CTYIP elected its officers and board of directors. Justin Sloan of the Nesso Group in Milldale will serve as president; Robin Ricciardone of RPS Cowles & Connell in Meriden will serve as president-elect; Jacklyn Meeker of The Russell Agency LLC in Southport will serve as vice president; Kieran Buttrick of Hagerty Insurance in Stratford will serve as treasurer; Ryan Keating of Keating Insurance in Hartford will serve as secretary; and Ryan Kelly of USI in Meriden will serve as immediate past president. Elected to serve on the CTYIP board of directors are: Kieran Buttrick of Hagerty Insurance in Stratford; Jeremy Card, ARM-P, CSRM, CISR, of Memic in Sandy Hook; Matthew Higgins of HAI Group in Cheshire; Ryan Keating of Keating Insurance in Hartford; Jacklyn Meeker of The Russell Agency in Southport; Justin Sloan of Nesso Group in Milldale; Robyn Ricciardone of RPS Cowles & Connell in Meriden; Walker Russell of The Russell Agency in Southport; Ryan Vivenzio of CNA Connecticut Branch, Glastonbury; and Sean Walsh of Broad Range Benefit Group in Shelton.
NTSB recommends vulnerability assessments for US bridges
The National Transportation Safety Board recommended Thursday that 30 owners of 68 bridges across 19 states conduct a vulnerability assessment to determine the risk of bridge collapse from a vessel collision, as part of the ongoing investigation into the collapse of the Francis Scott Key Bridge in Baltimore. The NTSB found that the Key Bridge, which collapsed after being struck by the containership Dali on March 26, 2024, was almost 30 times above the acceptable risk threshold for critical or essential bridges, according to guidance established by the American Association of State Highway and Transportation Officials, or AASHTO. Read a related article on last year’s bridge collapse and its impact on the insurance marketplace.
Reuters: NTSB launches probe into Ford F-150 trucks
In reporting from Reuters, the NTSB has started a probe investigating nearly 1.3 million Ford F-150 pickup trucks after reports emerged of “an unexpected gear downshift accompanied by a temporary rear wheel lock-up.” Those who sent complaints noted that their transmission would downshift without their input when they were traveling at highway speeds, followed by rapid deceleration.
N.Y.: Over 55,000 tickets issued during St. Patrick’s Day week
New York state announced that its law enforcements agencies issued 55,661 tickets for various vehicle and traffic law violations—including 1,224 tickets for impaired driving—during a statewide mobilization targeting impaired drivers before, during and after St. Patrick’s Day: the enforcement period ran from March 10-17. Be sure to remind your clients that it’s important to obey the rules of the road, as traffic law violations can increase the premiums for their auto insurance. PIA Northeast members can access auto safety content that they can share with their clients, including: The dangers of drunk driving; Do I have any control over my auto insurance premiums?; and Your young drivers–help them play it safe.
Compliance
N.Y.: SSL reverts to opt-in on March 26
Recently, there has been confusion surrounding supplemental spousal liability coverage in auto policies in New York state. It has gone from an opt-in option, to automatic coverage, and back to an opt-in option—unless a spouse is indicated on the application. This amendment (A.9407-A/S.9021), which passed the Legislature last year is an attempt to eliminate the confusion around this coverage—especially when the insured was single. For more information about SSL, PIA Northeast members can access: New York Department of Financial Services announces the inclusion of spousal liability coverage on personal and commercial automobile insurance policies and Supplemental spousal liability FAQs.
Technical
Selling insurance in a hard market
It’s no secret that the insurance market has hardened considerably. For some independent agents and agencies, this may be their first time experiencing this cycle of the market: for others, it is something they have experienced before and have come to expect every few years. Regardless, during this time, it’s important to know how to do business and keep your agency afloat. To learn more about this subject, PIA Northeast members can access Looking for a way to sell insurance in a hard market?in the PIA QuickSource library.
Key financial indicators in insurance improve for 2025
According to Verisk and the American Property Casualty Insurance Association, the U.S. insurance industry shows signs of resilience—despite continued headwinds in 2024. Premiums written. Insurers wrote $926 billion in premiums during 2024, compared to $851 billion in 2023. Similarly, earned premiums grew 9.8% to $895 billion in 2024, compared to a 9.7% jump in 2023. Underwriting gain. The estimated U.S. insurance industry net underwriting gain of $24.8 billion is a significant improvement over the $21.8 billion in net underwriting losses reported in 2023. Losses and adjustments. Incurred losses and loss adjustment expenses increased by 1.9%, compared to the 10.1% increase reported in 2023. The combined ratio—a crucial measure of profitability for insurers—improved to 96.4% in 2024 versus 101.6% in 2023. Surplus. The policyholders’ surplus increased from $1,013 billion at the end of 2023 to $1,082 billion at the end of 2024.
Accolades
Awards and presidential citations issued at PIACT Convention
In addition to new officers and board members being elected at this year’s PIA Connecticut Convention, some distinguished insurance professionals received awards and were presented presidential citations. The Company Person of the Year award was presented to Joe Secondo of The Harford, for his commitment to the American agency system, and his dedication to fostering a sound working relationship between the company and its agents. Also during the event, the association presented the following presidential citations; Nate Shippee, in recognition of his dedicated service and leadership as vice president of PIACT, and for advancing the insurance industry; Tom McKiernan, in recognition of a distinguished career dedicated to advancing the insurance industry and for championing the success of independent agents; and George Russell, in recognition of a distinguished career dedicated to advancing the insurance industry and for championing the success of independent agents.
Educating insurance agents
Conn./N.J./N.Y.: Ruble Graduate Seminar—two days at Caesars Atlantic City
If you have earned your Certified Insurance Counselor designation, then mark your calendar for the 2025 Ruble Graduate seminar, running from April 2-3, 2025. This hybrid seminar will walk attendees through advanced topics and feature a network of CICs and Certified Risk Managers to connect. By attending in-person, you can expect to form stronger connections with your fellow insurance professionals—as well as experience the wonderful venue of Caesars Atlantic City. The webinar version of this course has been approved for continuing-education credits in Connecticut and New York. The in-person version of this course has been approved for CE credits in New Jersey. For detailed CE information, contact the National Alliance at (800) 633-2165.
ICYMI
N.J. Deep dive: State of the marketplace 2025
Last month, PIANJ held another installment of its Deep Dive series, with State of the Marketplace 2025, featuring Brian Refici of MarshBerry. This Deep Dive session focused on the key trends, challenges and opportunities facing the insurance marketplace this year. If you did not have the opportunity to attend this session, you can find the recording and its complementary article on PIA Northeast News & Media.
Register now
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
