On April 23, 2024, the U.S. Department of Labor took significant steps to redefine the landscape of retirement investment advice through the release of the Retirement Security Rule. This regulation redefines who qualifies as an investment advice fiduciary under the...
In a move poised to transform the labor landscape across the United States, the Federal Trade Commission has introduced a final rule that bans the use of noncompete agreements nationwide. This sweeping regulation—expected to significantly impact both employers and...
When it comes to delivering on the promise of an improved customer experience, property/casualty agency principals often feel like they are caught in the middle of a tug-of-war. Pulling the rope on one end are younger digital-native customers, as well as baby boomers...
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.
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...
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...
Have you thought about visiting Canada? Our friendly neighbor to the north is an extremely popular travel destination for Americans. The Seattle Times, has reported that 9.1 million Americans traveled to Canada in 2022. While Mexico took the lion’s share of American...
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.
The New York state Legislature might be in the process of negotiating the budget, but it took the time to introduce two PIA-supported bills that could have a significant impact on the homeowners and auto marketplace, respectively. C-MAP Assemblyman Steven...
Over the last several legislative sessions, PIANY has been pushing for reforms to the way business is placed in the excess & surplus marketplace to ensure that agents and consumers have access to the insurance producers they need. During the 2021-22...