The Corporate Transparency Act became law on Jan. 1, 2021, and it officially took effect on Jan. 1, 2024. The legislation was introduced to enhance transparency in entity ownership structures to combat money laundering, tax fraud, and other illicit activities. It...
Only a few weeks after signing PIANY’s top legislative priority into law, Gov. Kathy Hochul has taken action on two other PIANY priority issues. The governor signed one bill to introduce parametric insurance into the state’s legal framework, and another bill to expand...
Seasonal cheer was spread, ugly sweaters were worn, industry professionals were honored—the NJYIP Holiday Social was nothing short of a holly jolly success. This year, the social was held on Dec. 3, 2024, at The Horseshoe Tavern, in Morristown, N.J. Featured in the photo from left to right: NJYIP of the Year and Second NJYIP Vice President Walter Conroy of Liberty Insurance Associates; Cumberland Mutual Senior Marketing Executive Steve Fitzsimmons; and NJYIP President Tim Latimer of the JS Braddock Agency.
The Corporate Transparency Act is officially here, with significant implications for businesses nationwide. This new law aims to enhance corporate accountability by requiring certain companies to report their beneficial ownership information to the Financial Crimes...
As an insurance agent or broker, helping clients choose the right flood insurance is crucial—especially when they face the aftermath of a flood. Understanding the distinctions between the National Flood Insurance Program and private flood insurance is essential for...
Gov. Kathy Hochul has signed A.2866/S.4199 into law, authorizing the New York State Department of Financial Services to create a single, standardized definition of “windstorm” in homeowners insurance policies. This long-awaited legislation marks a significant...
The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 6.1% decrease. Also approved is an overall assigned risk rate reduction of 6.2%. These...
Horse-drawn buggies are a familiar sight on New York's rural roads: they’re a direct link to the state's Amish and Mennonite heritage. However, a recent spate of incidents has highlighted growing concerns about road safety and the adequacy of insurance coverage for...
Connecticut’s recent state elections brought some changes to the Senate and House while leaving key leadership positions and party dominance intact. Although constitutional offices (governor, lieutenant governor, attorney general, treasurer, comptroller and secretary...
In the recent New York state elections, both the Senate and Assembly experienced some notable changes, setting the stage for shifts in legislative dynamics when the Legislature reconvenes in January. Senate overview The New York state Senate Democrats successfully...