It is an understatement to say that the world is changing. The way we communicate with others, purchase goods and services, engage in entertainment, have all changed at an unprecedented rate leaving many businesses trying to comprehend what they will need to maintain...
A report from AM Best indicates that the U.S. p/c industry posted a $32 billion loss. Have your clients ever asked you what happens if they get into a car accident with property damage?—PIA can help you answer that question. PIA continues to object to FIO Climate Data Call. The NHID addresses p/c insurance for nonprofits with juvenile behavioral services. And, New York to see minimum wage increase on Jan. 1, 2024. Legislation introduced for e-bike, e-scooter insurance in New Jersey. 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.
Coming off an expensive statewide ballot election featuring all 120 elected Assemblymembers and Senators, the New Jersey state Legislature’s lame duck session currently is in full swing. On Nov. 30, 2023, Senate President Nicholas Scutari, D-22,...
When starting an insurance agency, one of the first key decisions is choosing a business structure that aligns with your goals. This critical choice impacts liability protection, startup costs, administrative duties, taxes, raising capital, and planning for the...
While the insurance industry has yet to publicly and explicitly acknowledge global warming and the importance of protecting the environment, actions taking place within the industry—which are related to industries and governments—are indicative that a shift is...
A few months ago, an accident occurred right outside of the PIA Northeast office. A car traveling northbound on I-87 appeared to lose control and hit the guardrail. It careened across the southbound lane and stopped in the shoulder. The car suffered heavy damages and...
Triple-I: “Above-average” 2023 Atlantic hurricane season matched forecasts from Colorado State. AM Best’s outlook on U.S. personal-lines segment remains “negative” from 2022. Remind your clients to watch out for disaster-related frauds and scams this winter. PIA Northeast congratulates Connecticut and Vermont insurance commissioners who were elected by NAIC. New York Gov. Kathy Hochul requests a major disaster declaration for September flooding. 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.
In today’s rapidly changing world, traditional insurance products may fall short when it comes to effectively managing and mitigating risk. However, to fill those voids a new type of insurance product has emerged—parametric insurance. Parametric insurance covers the...
Electric bicycles—or e-bikes—have become popular as an eco-friendly, efficient, and cost-effective mode of transportation. While these bicycles offer myriad benefits, they carry certain risks—which riders can mitigate. Electric bikes are powered by batteries,...
Whether you’re a business owner or manager, employee well-being and safety should be at the top of your priority list. You might have safety strategies and health practices in place designed to keep your employees happy and healthy, but you could be overlooking...