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...
The National Association of Insurance Commissioners has adopted the Regulatory Guide to Understanding the Market for Cannabis Insurance: 2023 Update white paper. Recent hurricane activity reminds us of the importance of vigilance and preparation. Gov. Chris Sununu submits disaster declaration request. Supplement spousal liability in New York state—new law prompts a history of how this insurance coverage has evolved. Plus, you can read about state-specific industry news, compliance issues, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.
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...
Supporting and leading employees through the hard market is critical for agency leaders. Have your clients, who are planning beach vacations, been asking you about insurance options should they experience a shark attack? NHID approved a rate proposal filed by the NCCI that will reduce voluntary loss costs by 14% on average. And, New Jersey’s new law affects how insurance agencies can charge credit card surcharge fees, PIA offers a Q&A on how this law affects you. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources, education opportunities, and upcoming events in this issue of the Weekly Dispatch.
Gov. Phil Murphy signed legislation into law that prohibits businesses, including insurance agencies, from imposing certain surcharges on credit card transactions. What does the new law do? The new law prohibits a business (referred to as “sellers” in the...
If you are brave enough to have bought a ticket to Jason Statham’s latest action thriller, Meg 2: The Trench, then you might be familiar with what it would be like to take on a band of oversized, murderous sharks and other sea creatures in the pursuit of ocean...
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,...
For the last three years, PIANJ has worked with the Department of Banking and Insurance to add amendments to the state’s insurance regulation to allow insurance producers to carry over continuing-education credits into a new licensing period, and other changes that...
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...