In the rapidly evolving digital landscape, cybersecurity is more crucial than ever. This is particularly true in New York, where the state's cyber security regulation, 23 NYCRR 500, plays a pivotal role. In part two of the PIA’s cyber series, let's delve into a key...
The New York Department of Financial Services cyber security regulation—known as 23 NYCRR 500 by nerds like me—first went into effect on March 1, 2017. This regulation was the first in the nation to regulate the cyber security practices of the financial services...
Mainsail Insurance Co., is a newly formed carrier, which is wholly owned by Spinnaker Insurance Co. The parent company is Hippo Holdings Inc., which acquired Spinnaker Insurance Co., on Aug. 31, 2020. The Florida Office of Insurance Regulation has approved Mainsail...
The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -3.9% to become effective Monday, Jan. 1, 2024, applicable to new and renewal policies. The NJCRIB distributed Circular...
The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 9.8% decrease. Also approved is an overall assigned risk rate reduction of 10.5%....
In a continued effort to make New York a worker-friendly state, Gov. Kathy Hochul signed A.6604/S.4982 into law, which amends the state’s labor law by further protecting employee freedom of speech and consciences. It does so by prohibiting employers from having the...
In May, an application for an overall loss cost decrease of 2.6% was submitted to the New York Department of Financial Services by the New York Compensation Insurance Rating Board. The DFS approved the application as filed with an effective date of Sunday, Oct. 1,...
The Vermont Department of Financial Regulation approved the revised workers’ compensation voluntary loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 6.7% decrease. In addition, a decrease of 6.9% of the overall assigned...
Across the country, the insurance-buying public has seen sharp premium increases when their homeowners and automobile insurance policies are being renewed. In many cases, premiums are outpacing claims and expenses, as well as rising higher than inflation. The rules...
The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -6.1% to become effective Jan. 1, 2023, applicable to new and renewal policies. The NJCRIB distributed Circular Letter No....