The insurance implications of hoarding
The term hoarding can bring some horrific images to mind—mostly due to several television shows on the topic. However, being as it’s TV, and they need drama and the dramatic, what is shown on TV is often some of the worst cases. That doesn’t mean hoarding should be...
Innovative and effective onboarding strategies
Today’s job market is more competitive than we’ve seen in a long time. Candidates have options, which is why businesses are hyper-focused on doing everything they can to attract and retain top talent. They’re finding out they must do more than just offer competitive...
Deep dive: State of the marketplace 2025
Macroeconomic factors and the marketplace have created favorable conditions for the insurance industry (as a whole) leading to strong, consistent profitability. While the industry continues to offer benefits like stability, recurring revenue and a robust secondary market, new challenges have emerged that can impact the insurance business negatively and create additional risk.
Weekly Dispatch: March 20, 2025
A massive storm system swept across the United States, killing over 40. The PIACT Legislation Reception was a success—thank you to everyone who made it possible. New Jersey requires that insurance agencies file their electronic annual disclosure statements by April 1. A bill that would update New York DMV reported out of Senate committee. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources, accolades, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.
N.Y.: Bill to update DMV verification system reported out of Senate committee
PIANY has long advocated for a more effective and consumer-friendly insurance marketplace. In past legislative sessions, PIANY successfully championed key reforms, including standardizing the definition of windstorm, and banning harmful bait-and-switch tactics....
Different stages of agency growth
Understanding a broad array of company attributes can offer insurance agencies insight to scale their organizations effectively. Small- to mid-sized agencies face unique challenges and opportunities that require tailored strategies, structures and leadership...
New Jersey pay-to-play annual disclosure due
New Jersey’s pay-to-play law (P.L. 2005, c. 271 Section 3), requires insurance agencies to file electronic annual disclosure statements by Tuesday, April 1, 2025. Insurance agencies that have received $50,000 or more in the aggregate during the 2024 calendar year—through contracts with a public entity or public entities—must file the annual disclosure statement that lists various political contributions made during the year.
PIACT Legislative Reception brings agents and lawmakers together in Hartford
The PIACT held its annual Legislative Reception on March 13, 2025, at the Legislative Office Building in Hartford, Conn. [CAPTION: (L-R) Rep. Kerry Wood, D-29, co-chairperson of the Insurance & Real Estate Committee, and Kelly Bettuchi, director of government affairs for The Connecticut Group LLC.]
Weekly Dispatch: March 13, 2025
Liberty Mutual Insurance announces that it will discontinue Safeco brand in 2026—what that means for independent agents. Government shutdown looms as the NFIP is set to expire: make your voice heard. The New Jersey legislative session is at its midpoint, what bills are PIA monitoring? New bills introduced in New York state that could alter insurance landscape if passed. Vermont approves the revised workers’ compensation loss cost filling by the NCCI. 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.
N.Y.: New flood insurance law limits requirements for homeowners and lenders
New York Gov. Kathy Hochul signed a chapter amendment—A.2056—into law last month, which further limits how much flood insurance mortgage lenders can require. This new law amends legislation passed last session that prevented lenders from demanding flood insurance that...
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