NJYIP’s Holiday Social brings wintertime fun to New Jersey
Seasonal cheer was spread, ugly sweaters were worn, industry professionals were honored—the NJYIP Holiday Social was nothing short of a holly jolly success. This year, the social was held on Dec. 3, 2024, at The Horseshoe Tavern, in Morristown, N.J. Featured in the photo from left to right: NJYIP of the Year and Second NJYIP Vice President Walter Conroy of Liberty Insurance Associates; Cumberland Mutual Senior Marketing Executive Steve Fitzsimmons; and NJYIP President Tim Latimer of the JS Braddock Agency.
Vertical specialization, niche markets accelerate growth
Vertical specialization—where insurance producers focus on specific industry sectors, niches or lines of business—is quickly gaining ground as an approach for accelerating growth. It has proven to enhance client retention, build efficiency and foster...
Weekly Dispatch: Dec. 5, 2024
After many years of lobbying, PIANY’s windstorm bill is finally signed into law. Northeast hit by winter weather: are you and your clients ready? Temporary outdoor dining permissions made permanent in New Jersey. Plus, you can read about state-specific industry news, technical resources, accolades, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.
What PIA members need to know about the Corporate Transparency Act
The Corporate Transparency Act is officially here, with significant implications for businesses nationwide. This new law aims to enhance corporate accountability by requiring certain companies to report their beneficial ownership information to the Financial Crimes...
Unable to leave: why people stay behind in disasters
Before a natural disaster hits your community, it’s generally agreed that the best possible thing you can do is evacuate. However, as in the case of the recent Hurricanes Helene and Milton, we hear stories about people staying behind to weather the storm. Usually, the...
Anatomy of a claim: NFIP vs. private flood claim
As an insurance agent or broker, helping clients choose the right flood insurance is crucial—especially when they face the aftermath of a flood. Understanding the distinctions between the National Flood Insurance Program and private flood insurance is essential for...
Governor signs PIANY’s windstorm bill into law
Gov. Kathy Hochul has signed A.2866/S.4199 into law, authorizing the New York State Department of Financial Services to create a single, standardized definition of “windstorm” in homeowners insurance policies. This long-awaited legislation marks a significant...
Weekly Dispatch: Nov. 21, 2024
Happy Thanksgiving! PIA Northeast thanks you for your support. The United States is facing widespread drought conditions—how is it affecting the states in PIA Northeast’s footprint? A Fifth Circuit judge strikes down Biden overtime pay rule. The NHID announces changes to the regulation of consumer guaranty contracts. PIANY priority legislation: Windstorm bill called to N.Y. governor’s desk. 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.
Conn.: NCCI 2025 WC loss cost decrease of 6.1% approved
The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 6.1% decrease. Also approved is an overall assigned risk rate reduction of 6.2%. These...
Enhancing safety and insurance for horse-drawn buggies on New York roads
Horse-drawn buggies are a familiar sight on New York's rural roads: they’re a direct link to the state's Amish and Mennonite heritage. However, a recent spate of incidents has highlighted growing concerns about road safety and the adequacy of insurance coverage for...
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