In a rapidly evolving world driven by innovation and digital technologies, staying ahead of the curve is paramount for businesses—specifically in the insurance industry. Insurance agencies face high volumes of paperwork, complex processes, intricate regulations, risk...
Government faces possible partial shutdown as Friday deadline nears; NFIP could lapse. The New Jersey Boardwalk Preservation Fund releases $100 million for 18 municipalities to develop and preserve their boardwalks. New York announces $6 million for cyber risk and resiliency for local governments statewide. Plus, you can read about state-specific industry news, compliance issues, technical resources, education opportunities and upcoming events in this issue of the Weekly Dispatch.
If you, as an insurance professional, are working on a marketing plan for your agency, video marketing can be a powerful tool to use. While text can be effective on its own, video can take your marketing to the next level in terms of engagement and impact. Why to...
When New York state’s cyber security regulation (23 NYCRR 500) was amended at the end of 2023, it included the creation of a new type of covered entity referred to as Class A companies. Due to their size, these companies are required to go above and beyond what...
Technology has become a key player in the stability and success of modern small businesses. New technologies provide business owners with opportunities to boost growth and overcome obstacles. These tools are critical to enhancing an organization’s financial...
Learn about agency commission cuts as we move through a hard market: why can carriers make cuts and what are your rights as an agent? A New Jersey court rules against a casino in a business interruption claim over COVID-19. A bill that would direct the New York Department of Financial Services to study the need for a private flood-insurance market passes the state Senate. Plus, you can read about state-specific industry news, compliance issues, technical resources, accolades, education opportunities and upcoming events in this issue of the Weekly Dispatch.
In the wake of the COVID-19 pandemic, the legal battles over business interruption claims took center stage in the property/casualty insurance industry. The latest example of these disputes is New Jersey Supreme Court’s ruling in the case of AC Ocean Walk LLC v....
Last week, the New York state Senate passed legislation that would direct the New York State Department of Financial Services to—in part—study the possibility of supporting a private flood insurance market. The bill (S.8167), sponsored by Sen. Neil Breslin,...
To anyone who works in the insurance industry, it is clear that the marketplace is going through a period of transition. The increasing occurrence of severe weather, growing interest rates, and increasing replacement cost are a few of the drivers that are creating...
New York State Insurance Law Section 5904 requires producers placing New York state business with risk retention groups not chartered in the state to report this business by Friday, March 15, 2024. To comply with New York State Insurance Law Section 5904(c), if a...