News
ITRC: Data breaches in 2025 on the rise, outpace 2024
The Identity Theft Resource Center, a nonprofit that analyzes and offers solutions for identity compromise and crime, found an increase of data compromises compared to the first half of last year. The ITRC found a total of 1,732 data compromises, which were reported in the first half of 2025, affecting over 165 million individuals. Comparatively, the first half of 2025 compromises are at 54.9% of the full-year 2024 total. The number of victim notices in the first half of 2025, however, is only 12.2% of the total for 2024, suggesting that while breaches remain frequent, the scale of mega-breaches affecting hundreds of millions seen in the previous year has not been repeated in the first half of this year. Take additional steps to protect your agency and your clients. For a quote for cyber liability insurance for your agency or brokerage offered through PIA Northeast, click here. Plus, PIA Northeast’s partnership with KnowBe4 provides PIA members with exclusive discounts on a platform dedicated to improving organizational security culture, and to reducing human risk. For more information, PIA Northeast members can click here.
Guidance for residents filing claims after a storm
Recent flooding across the United States serves as a reminder to everyone about the impact of severe storms and flooding. Make sure your clients are prepared: Have you explained to your clients that flooding isn’t covered by a standard homeowners insurance policy? PIA Northeast members who are looking for help on how to answer their clients’ questions about flood insurance, can access the PIA Flood Insurance Tool Kit. There is also consumer content from PIA Northeast News & Media that can be sent to clients, such as Water you mean I’m not covered? Navigate the flood insurance knowledge gap and Come hell or high water, homeowners need to understand flood insurance. PIA Northeast members can also access My property is wet; it must be a flood in the QuickSource library.
N.H.: State issues homeowners insurance market report
The New Hampshire Insurance Department has released its latest report on the state’s homeowners insurance market. The analysis, based on data collected through the National Association of Insurance Commissioners, offers an in-depth view of trends from 2018 to 2022, including new ZIP code-level insights. Deputy Insurance Commissioner Keith Nyhan interpreted these findings as a sign of the strength and accessibility of the state’s homeowners insurance market.
Technical
A simplified CGL policy? It’s anything but simple
The simplified commercial general liability policy was introduced in 1986 with the intent of solving certain coverage problems. However, it inadvertently created new problems: the CGL is considered one of the more complex policies sold by producers because it must be adapted to different business enterprises. For more information, PIA Northeast members can access Complex exposures created by leases in the PIA QuickSource library.
N.J.: Transfer of control of Lancer Insurance
On June 11, 2025, the Department of Banking and Insurance issued Order A25-01 approving the transfer of control of Lancer Insurance Company of New Jersey. The acquisition was made by Elk Merger Sub Ltd., Elk Bidco Ltd., Elk Intermediate Holdings LLC, Elk Topco LLC, ELK Insurance Holdings LLC, A. Michael Muscolino, Joshua Easterly and Jennifer Gordon. Lancer Insurance Company of New Jersey is not financially distressed. This acquisition is not the result of insolvency, rehabilitation or liquidation. The transaction represents a routine regulatory approval. Lancer remains licensed and in full compliance with New Jersey regulations. There is no anticipated impact on policyholders or coverage. Policies will continue uninterrupted, staffing levels will be maintained and the company will continue writing new business. To review the hearing officer’s report, click here.
N.Y.: Revised WC loss costs, effective Oct. 1
In May, an application for an overall loss cost decrease of 13.2% was submitted to the New York State Department of Financial Services by the New York Compensation Insurance Rating Board. The NYDFS approved the application as filed with an effective date of Wednesday, Oct. 1, 2025. There is no change in the Workers’ Compensation Security Fund surcharge (remaining at 0%).The United States Longshore and Harbor Workers Coverage percentage is changed from 95% to 93.7%. No changes were made to the deductible premium credits by hazard group.
Educating insurance agents
Register for upcoming PIA-Alliance partnership classes
This summer, PIA Northeast is offering several classes in partnership with the Risk & Insurance Education Alliance. These expert-led seminars will cover a wide variety of topics in the field of risk management, including its practice, its principles and more. You can find PIA’s full education schedule online at PIA.org. For detailed CE information, please contact The Alliance at (800) 633-2165.
ICYMI
Market trends survey is now live: make your voice heard!
PIA Northeast needs your input for the Market Trends Survey. This short, eight-question market survey helps us understand what you’re really experiencing—and ensures your voice is heard where it matters most. This is your opportunity to help guide the association’s advocacy efforts, and inform the conversations association leadership has with lawmakers, regulators and other industry professionals—and by extension, the direction of our industry. Once you’re finished, please share the survey link with the rest of your agency team and encourage them to take it, as well.
Register now
Monday, Aug. 11, 2025: NY-YIP Annual Golf Open
Tuesday, Sept. 9, 2025: NY-YIP Albany Happy Hour
Monday, Sept. 29, 2025: PIANJ Golf Classic
Thursday, Sept. 18, 2025: Autumn in the City: NY-YIP Fall Reception
Thursday, Oct. 16, 2025: The CTYIP Spotlight Social | A Fall Reception
Tuesday, Dec. 2, 2025: NJYIP Holiday Reception
