Certificates of liability insurance were first created by ACORD in 1976, known as ACORD 25. However, the providing of evidence of financial responsibility for liability exposures dates to the late 19th century and early 20th century. The problem with COIs is that they...
I’m fascinated by the process of evolution. As a kid, I was a dinosaur fanatic, and I was perplexed by the thought of a Stegosaurus (my favorite dinosaur) evolving into a bird. Luckily, I have since wrapped my brain around that. I’ve always thought of evolution as a...
Property/casualty insurance rarely gets the spotlight in a governor’s State of the State address. Most years, it’s a footnote—if mentioned at all. However, this year is different. Gov. Kathy Hochul put home and auto insurance front and...
Developing a niche for your insurance agency works if you have relationships with enough insurance carriers that write a wide range of insurance policies to offer your clients choices to fit their unique needs. That is why it’s vital to have the right carrier...
In 2021, President Joe Biden signed the Bipartisan Infrastructure Investment and Jobs Act, which authorized an additional $1.2 trillion in federal construction projects. It also reauthorizes and funds the U.S. Department of Transportation’s existing Disadvantaged...
It’s no secret that the competition for client loyalty is intensifying. Pricing, automation and digital tools have leveled the playing field, making retention a key differentiator, not just for service teams, but for the entire business. Retention reflects the...
As winter approaches the Northeast, drivers across the region face some of the most challenging road conditions of the year. Each season, more than 1,300 people are killed and more than 116,800 people are injured in vehicle crashes on snowy, slushy or icy pavement,...
If you’re an insurance producer in New Jersey, there’s a new piece of legislation you’ll want to keep on your radar—S-4722. This bill would set the stage for the creation of the Joint Blue Ribbon Task Force on Impacts of Climate Change on Property Insurance. Let’s...
If you’re hearing more about social inflation, and wondering how it’s impacting your clients—and your bottom line—you’re not alone. That’s exactly why PIANJ hosted a recent Deep Dive Panel titled “Behind the Verdict: How Litigation Trends Are Driving Insurance Costs.”...
I want to talk about cat events. No. This isn’t related to a grouping of our feline friends, rather it’s the term most insurance companies use to describe an area-wide catastrophic weather event—such as the floods that hit Tennessee, Texas, North Carolina, parts of...