Next named storm expected this weekend, PIA Northeast has resources to help you and your clients prepare for storms. In New York state, United Property & Casualty Insurance to enter run-off. And, NJYIP is calling for nominations for its YIP of the Year award. Plus, you can read about state-specific industry news, technical resources, accolades, education opportunities and upcoming events in this issue of the Weekly Dispatch.
Recent AM Best report finds that dedicated reinsurance capital growth of 2021 may not continue; NAIC passes Pet Insurance Model Act. And, does a car’s color indicate its likelihood of being in an accident? Plus, you can read about state-specific industry news, accolades, education opportunities and upcoming events in this issue of the Weekly Dispatch.
A new report shows that inflation and supply-chain disruptions are impacting the personal auto market; and inflation will continue to cause the property/casualty market to harden. Two new laws—recently signed by New Jersey’s governor and supported by PIANJ—will impact the personal auto and commercial insurance marketplaces. And, in New York state the revised workers’ compensation loss costs will take effect Oct. 1, 2022. Plus, you can read about state-specific industry news, advocacy updates, technical resources, a call for nominations, events and information you may have missed in this issue of the Weekly Dispatch.
Report finds that consumers are more interested in telematics, but what does this mean for their privacy? The NHID approved a rate proposal filed by the NCCI that will reduce voluntary workers’ compensation loss costs by 7% on average. And, the New York State Department of Financial Services released proposed updates to the cybersecurity regulation for financial services companies, which includes insurance agencies—PIA Northeast to comment. Plus, you can read about state-specific industry news, technical resources, and upcoming events in this issue of the Weekly Dispatch.
Bill introduced in Congress that would extend the NFIP for a year—currently, the NFIP is set to expire at the end of September. Recent national bills would effective the state insurance regulatory system. And, the NYSIF is deferring the New York State Workers’ Compensation Board’s assessment on new Safety Group members. Plus, you can read about state-specific industry news, advocacy updates, technical resources, education opportunities, and upcoming events in this issue of the Weekly Dispatch.
Berkshire Hathaway GUARD Insurance to cease writing certain homeowners insurance risks. Connecticut’s plan to support business growth with COVID recovery funding approved by the U.S. Treasury Department. PIANY examines the new law that affects workers’ compensation insurance available to businesses with outstanding balance through NYSIF and what it means for agents and their clients. Plus, you can read about state-specific industry news, advocacy updates, technical resources, accolades, education opportunities, and upcoming events in this issue of the Weekly Dispatch.
Cannabis safe harbor bill passes U.S. House for the third time, stalls in the U.S. Senate (again). New Hampshire Insurance Department issues bulletin to remind insurance licensees that they need to report suspected fraud cases. Vermont governor appoints commissioner, and deputy commissioner, of the Department of Financial Regulation. Plus, you can read about state-specific industry news, advocacy updates, education opportunities and upcoming events in this issue of the Weekly Dispatch.
Retirement plans often have fiduciary liability—the PIA 401(k) Plan can remove the headache of your agency’s plan. In New York state, a new law will help businesses access low-cost workers’ compensation coverage. And, as Jurassic World Dominion continues to be a box-office hit, have you ever wondered how the original Jurassic Park ever got insurance coverage before the velociraptors learned to open doors? PIA’s director of Government & Industry Affairs looks at the possible underwriting factors for the original park. Plus, you can read about state-specific industry news, advocacy updates and upcoming events in this issue of the Weekly Dispatch.
Connecticut’s minimum wage to increase on July 1. Bills that would affect N.J.’s auto insurance market pass insurance committees. And in New York state, the first round of primaries has been decided, and the insurance committee chairs are expected to change this fall. Plus, you can read about state-specific industry news, technical resources, education opportunities, and upcoming events in this issue of the Weekly Dispatch.
Connecticut enacts new consumer data privacy law. PIANJ recognizes its Director of the Year. And, PIA Northeast offers a continuing-education course on funding long-term care with life insurance. Plus, you can read about state-specific industry news, advocacy updates, technical resources, education opportunities, and upcoming events in this issue of the Weekly Dispatch.