At the Fairmont San Francisco Hotel in San Francisco, President Joe Biden made remarks about technological development in the United States before he met with the President’s Council of Advisors on Science and Technology on Sept. 27. His remarks focused primarily on...
In the insurance industry, rules, laws and regulations play a vital role in ensuring fairness and transparency. For insurance companies operating in Connecticut’s admitted and nonadmitted marketplaces, staying compliant with the law is not only a legal obligation, but...
Steeped in tradition and legacy practices, the insurance industry is undergoing a profound transformation. In an era defined by rapid technological advancement and shifting customer expectations, digital transformation has emerged as the lifeline for insurance agents...
The summer of ’23 has brought disastrous weather events in almost every region of the country. The Northeast faced record-breaking flooding. Vermont received two months’ worth of rain—more than nine inches—in just a few days. More than 4,000 homes were damaged by...
Strangely, the legal concept of spousal liability has been in the news recently. This is due to a recent change in New York state law that will now require all auto insurance policies issued in the state to provide coverage for supplemental spousal liability—unless a...
When the market hardens, insurance carriers often will attempt to reduce their expenses and exposures in a variety of ways. Sometimes, those ways are overt like nonrenewing policies or filing for rate increases. Other times, the cost-cutting moves can be more covert...
Generation Z—colloquially known as Gen Z—is the demographic of young adults born between 1997 and 2009, the generation after millennials. This generation is known as digital natives because these tech-savvy young adults were raised on the internet and social media,...
Supporting and leading your employees through this hard market is going to be critical for agency leaders. They will follow your example and most team members want to do a great job. They need to understand what that means to your agency. You may be saying: "My team...
This past year, new risks are emerging that are affecting insurance agencies. According to a McKinsey & Co. report, “... while insurance as an industry may be slow to change, its risk environment is not.” Amid the developing risks in the digital realm, the...
The rise of artificial intelligence has been swift, with the industry transforming from mere stuff of sci-fi fantasy to a multi-billion-dollar industry seemingly overnight. Today, AI plays some role in nearly every aspect of our lives—from the health care we receive,...
