AM Best predicts insurers can manage tornado losses. PIA teaches agents more about the National Flood Insurance Program’s Risk Rating 2.0. And, Gov. Lamont announces commission to approve support for small businesses. Plus, you can read about state-specific industry news, advocacy updates, technical resources and upcoming events in this issue of the Weekly Dispatch.
We hope that everyone has a safe and warm holiday season without any mishaps—but sometimes, things go awry. And, just what are the most common claims this time of year? For the answer, read on: No. 1: Fires. At this time of year, people tend to use more candles, light...
The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 14.1% decrease. The CID also approved an overall assigned risk rate decrease of 8.2%....
Communities around the globe first faced the threat of COVID-19 in late 2019. At the time, no one knew how bad it was going to be, but as cities overseas (e.g., China and Italy) began to experience the effects of the pandemic—and lockdowns were instituted to blunt the...
The U.S. House removed the Secure and Fair Enforcement Banking Act from the National Defense Authorization Act. A Switzerland reinsurer recommends the U.S. to regulate its litigation-funding industry. And, masks are required to be worn in all public spaces in New York state. Plus, you can read about state-specific industry news, compliance issues, advocacy updates and upcoming events in this issue of the Weekly Dispatch.
Multi-factor authentication is a method of authenticating users on an information system and requires them to go through multiple steps to access that information system. Commonly, this is accomplished through a combination of a username and password, followed by a...
COVID-19 and the legalization of adult-use cannabis in New York state has affected underwriting greatly. To complicate matters further, some municipalities are considering opting-out of the cannabis adult-use law. These changes are causing insurance underwriters and...
Gov. Kathy Hochul announced last week that masks will be required to be worn in all indoor public places across New York state—unless businesses/venues implement a vaccine requirement—starting Monday, Dec. 13, 2021. What this means for your business What are the...
Employee- and customer-centric agencies help independent agents manage risks. Agents who do business in Connecticut must comply with sexual harassment prevention training laws. And, the National Flood Insurance Program has been extended again. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources and upcoming events in this issue of the Weekly Dispatch.
In July, Gov. Ned Lamont signed Public Act 21-119—which went into effect in Oct. 1, 2021, and protects Connecticut businesses in all industries from punitive damages if there is a cyber-breach that leads to the unauthorized access of personal or restricted...