News
AM Best: Reinsurers likely to cover Jamaica’s insured losses
The island country of Jamaica was devastated by Hurricane Melissa, a Category 5 hurricane. Although insured losses in Jamaica from Hurricane Melissa will be low, reinsurers will likely pick up most of the total due to Caribbean-domiciled carriers’ reliance on reinsurance, according to an AM Best commentary. AM Best notes that insurance penetration in Jamaica is low, as only a small portion of property is insured on the island, which will limit insured losses. Economic losses from the storm are likely to be in the billions.
N.J.: DOBI encourages regulated entities to assist federal workers impacted by shutdown
The Department of Banking and Insurance issued a bulletin to encourage insurance carriers, financial institutions and other regulated entities to work with and assist federal workers who are state residents and may be adversely affected by the ongoing federal government shutdown. The bulletin suggested actions that could be undertaken to ease financial burdens on impacted residents. For example, insurance and banking-related entities could relax due dates for payments or extend grace periods.
Advocacy
N.J.: E-bike, e-scooter insurance bill introduced
New Jersey state lawmakers have introduced S-4763, which would enhance safety and address significant insurance gaps for e-bicycle and e-scooter riders. This is in response to a large increase in accidents involving micromobility users. The bill would mandate mandatory registration, visible registration, safety training and insurance coverage. PIANJ encourages stakeholders to support this legislation and help create a safer, more accountable micromobility environment in New Jersey.
Technical
Anatomy of personal umbrella policies
ISO introduced a standard personal umbrella policy in 1998, but there are often differences between umbrella policies offered by insurers. Personal umbrella policies are built around the underlying policies prescribed by each insurer: if you need to review what constitutes a personal umbrella policy, PIA Northeast members can access Personal umbrella policies in the PIA QuickSource library.
October ACORD forms update
In the latest ACORD forms update, the following countrywide forms are revised to replace “Gulf of Mexico” with “Gulf of America” on Page 2: ACORD 82 (2025/07) Watercraft Application, ACORD 282 (2025/07) Watercraft Section, ACORD 83 (2025/07) Personal Umbrella Application, ACORD 283 (2025/07) Personal Umbrella Application Section. The edition date is now July 1, 2025.
Conn.: NCCI 2026 WC loss cost decrease of 3.8% approved
The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 3.8% decrease. Also approved is an overall assigned risk rate reduction of 0.4%. Components of the 3.8% reduction in the overall loss cost level include: changes in experience at -4.2%; development at -0.4%; trend at 0.0%; benefits at +0.9%; change in loss-based expenses at +0.2%; and offset for change in assigned risk differential at -0.2%. These loss costs and rates will take effect Thursday, Jan. 1, 2026.
N.J.: 2026 WC overall rate level decreases 4.3%
The New Jersey Compensation Rating and Inspection Bureau received approval from the DOBI for a rate revision of -4.3% to become effective Thursday, Jan. 1, 2026, applicable to new and renewal policies. The cumulative effect of all filed rating element changes results in a final collectible premium level reduction of 4.3%. However, most individual classification rates will change based on the latest data reported in accordance with the Statistical Plan.
N.Y.: 2026 WC assessment rate published
In Subject Number 046-1781, the New York State Workers’ Compensation Board announced the new assessment rate of 7% (down from 7.1%) of standard premium to be effective for policies renewing on or after Thursday, Jan. 1, 2026. Pursuant to Workers’ Compensation Law Section 151, the WCB must annually establish an assessment rate for all employers by Nov. 1 of each year.
Educating insurance agents
Quality education. PIA Northeast offers CE-approved designation programs. Find out more, and see the upcoming schedules, for the CIC, CISR, CPIA, CRM, CPRM and TRA designations.
Register today for CIC, CISR and CPIA classes
PIA Northeast is offering valuable continuing-education-approved designation programs for its members, including Certified Insurance Counselors, Certified Insurance Service Representative and Certified Professional Insurance Agent designation programs. These programs allow agents to reach new heights and further their career in the insurance industry. Once you complete any one of these programs, you will gain important insights and techniques that you will carry for the rest of your career—as well as a designation next to your name. Don’t miss out: register for one of these CE-approved sessions today, by clicking here, selecting your state, and then selecting the appropriate program under the “CE-approved designation programs” category.
What to know about the new NFIP
While the National Flood Insurance Program has lapsed due to the government shutdown, it’s important for agents to keep informed about changes to the only federal flood plan. Recently, the Federal Emergency Management Agency made major changes to the NFIP, so it’s important that insurance professionals learn how to identify flood areas properly and how to use the most recent online resources. Learn all of this and more at the Understanding the New NFIP webinar on Friday, Nov. 14, 2025, at 9 a.m.-12 p.m. This webinar will feature Steven D. Lyon, CPCU, CIC, CRM, CRIS, AAI, ARM, AIS, MLIS, AFIS, as its instructor. This course has been approved for CE credits in Connecticut (3 PC), New Jersey (3 NFIP Flood) and New York (3 BR, C3, PA, PC, approved for the New York state regulation for enhanced flood insurance).
Events
N.H.: Join us this November for Friendsgiving
Join PIANH this Thanksgiving season for its annual NH Symposium Friendsgiving. The event is being held on Thursday Nov. 20, 2025, at The One Hundred Club in Portsmouth, N.H. This year, instead of a wine-tasting, join your peers for a cozy Friendsgiving evening of good food and great company—topped off with a dessert and champagne pairing. Before the holidays kick into full gear, wind down and connect with your peers from the insurance industry. Don’t miss out: register or sponsor today!
N.Y.: Kick off game night at NY-YIP Buffalo Bills Tailgate
Ready for the next big game night? Join NY-YIP at its Buffalo Bills Tailgate Happy Hour on Thursday, Nov. 20, 2025, at Santora’s in Williamsville, N.Y. Whether you’re a die-hard Bills fan or just in it for the wings and good company, this is a can’t-miss chance to connect with other young insurance professionals in a fun, casual setting. Don’t miss out on the fun: register today.
N.J.: Pursing industry change with the PIANJ Women’s Leadership Alliance
Over 110 attendees gathered for the PIANJ Women’s Leadership Alliance panel Pursuing (or Pushing) Positive Change, on Oct. 29, 2025, at The Madison Hotel, Morristown, N.J. The panel featured women across the insurance industry sharing the challenges they faced and how they are pushing for real change. This panel was moderated by Jessica Kearney, the vice president of the Public Policy at Travelers Institute and featured: Lisa Hamm, CAPI, CIC, CPA, president and owner at Clyde Paul Insurance; Connie Mahoney, agency manager at Mark Anthony Associates and past president of PIANJ; Nolly Pastore, regional director at Travelers; and Laura Castellano, director of Agency Services at Plymouth Rock Assurance. PIA Northeast also created a photo album for the event.
Register now
Thursday, Nov. 20, 2025: NH Symposium: Friendsgiving—Sponsorship opportunities
Thursday, Nov. 20, 2025: NY-YIP Buffalo Bills Tailgate
Tuesday, Dec. 2, 2025: NJYIP Holiday Reception
Wednesday, Jan. 14, 2026: CTYIP Holiday Social
Save the date
Wednesday, Jan. 28, 2026: NY-YIP Pre-MetroRAP Reception
Thursday, Jan. 29, 2026: PIANY MetroRAP—Interested in sponsoring, exhibiting or advertising?
