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...
Recently, representatives of PIACT met with Connecticut Insurance Department Commissioner Andrew N. Mais and several high-level CID staff members to address challenges and potential solutions to increase flood insurance adoption across the state. The CID invited PIACT...
On Oct. 29, 2024, PIANJ hosted a dynamic panel discussion, The Perfect E&O Storm: Tips for the Hard Market, which brought together seasoned experts to share insights on managing errors-and-omissions risk in today’s challenging market. Part of PIANJ’s Deep Dive...
Amid growing concerns about the financial health and stability of the insurance marketplace, the personal-lines sector has experienced significant disruption, driven by carrier withdrawals and a rise in insolvencies. These developments are further constricting an...