CID issues bulletin on aerial imagery and underwriting in response to consumer complaints

On March 19, 2024, the Connecticut Insurance Department issued a bulletin to address the use of aerial imagery by insurance carriers in underwriting homeowners insurance, specifically in relation to decisions about roof condition. This bulletin responds to a rise in...
Weekly Dispatch: April 25, 2024

Weekly Dispatch: April 25, 2024

Triple-I Report: the economic drivers of the U.S. property/casualty industry are shown to be growing faster than the gross domestic product. If you have insureds who plan on traveling to Canada, do they know how rental car insurance works there? Connecticut Insurance Department releases new bulletin on aerial imagery and underwriting. Aid is available for two New Hampshire counties from January flooding. New York state has passed its finalized budget—what it means for TED items. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources, accolades, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.

N.Y.: Have you met TED: Part Deux

N.Y.: Have you met TED: Part Deux

Back in January, I wrote about the release of the New York Gov. Kathy Hochul’s Executive Budget—in particular, the release of transportation, economic development and environmental conservation items, referred to as the TED. Fast forward to the end of April and New...

Weekly Dispatch: April 18, 2024

Weekly Dispatch: April 18, 2024

Triple I: Dog injury claims have risen in 2023 from 2022, with payouts totaling $1.12 billion. Can AI assist with the talent shortage issues facing the claims industry? PIACT held its Connecticut Convention, seeing the election of new PIACT and CTYIP officers and board members, and the presentation of the Awards of Distinction. New Jersey’s digital equity plan has been accepted by the federal government. PIANY priority excess-line reform bill heads to Senate floor. Plus, you can read about state-specific industry news, advocacy updates, technical resources, accolades, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.

Is AI the answer to talent shortages in claims?

Is AI the answer to talent shortages in claims?

Talent shortages continue to rank in the top 10 concerns of insurance industry stakeholders.[1] According to the U.S. Census Bureau 12,000 people per day will turn 65 in 2024, calling this milestone “Peak 65.” Peak 65 is expected to lead to talent shortages in the...

Weekly Dispatch: April 11, 2024

Weekly Dispatch: April 11, 2024

4.8 magnitude earthquake rocks Northeast—are your clients calling you with questions about coverage options? The 2024 hurricane season is predicted to be “very active.” PIACT met with legislators and Connecticut Insurance Department representatives at its Legislative Reception. New York announced that $412 million in bonds and subsides for the renovation and construction of 1,100 homes. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources, accolades, upcoming events and information you may have missed in this issue of the Weekly Dispatch.