Weekly Dispatch: Nov. 22, 2023
Happy Thanksgiving! PIA Northeast is honored by Utica National at conference for policy retention. New York Gov. Kathy Hochul signs top-priority photo inspection bill into law. New Jersey announces guidelines on generative artificial intelligence for state employees. Are you and your insureds ready for the incoming winter weather? Plus, you can read about state-specific industry news, compliance issues, technical resources, accolades, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.
NCCI 2024 WC loss cost decrease of 9.8% 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 9.8% decrease. Also approved is an overall assigned risk rate reduction of 10.5%....
New Updates to New York Labor Law Section 201-d
In a continued effort to make New York a worker-friendly state, Gov. Kathy Hochul signed A.6604/S.4982 into law, which amends the state’s labor law by further protecting employee freedom of speech and consciences. It does so by prohibiting employers from having the...
PIA Northeast honored for its policy retention
PIA Northeast’s recently promoted Director of Sales Stephanie Y. Smith, CISR, CPIA (far right), pictured with (L-R) Utica National’s Cullen Stevens, executive commercial lines NB underwriter; Jen Stein, E&O commercial lines underwriting specialist; and Mark Angelucci, senior vice president specialty casualty leader, at the Utica National E&O State Sales & Appreciation Conference from Oct. 18-19, at the Sheraton Chicago O’Hare, in Chicago, Ill.
PIANY-priority photo inspection bill signed into law
PIANY’s top legislative priority for the 2023 legislative year is passage of legislation that would make important changes to New York state's antiquated photo inspection system. Today, Gov. Kathy Hochul signed (A.3172-A/S.5889) into law—making this top PIANY...
Digital transformation for independent agents: Adapt to the tech evolution
With the rate of recent rapid technological changes, it’s no surprise that businesses must adapt to new trends constantly. This is mainly true for independent agents who are experiencing pressure to keep up with digital transformation. Since customers are increasingly...
Weekly Dispatch: Nov. 16, 2023
PIA’s Market Trends Survey shows that the hard market is likely causing a shift to E&S placement. Triple I releases 2023 report for the property/casualty industry. When it comes to special marketing, do you know all the rules to avoid trouble? ICYMI: N.Y.: DFS releases final cyber regulations, PIA offers guidance. And, register for the NJYIP Holiday Social. 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.
Kia and Hyundai reach multi-million settlement with car owners due to lack of antitheft features
While you might not be familiar with the “Kia Boys” or “Hyundai Boys,” their notorious criminal activities have likely reached your attention. Since early 2021, viral videos on TikTok and YouTube have provided step-by-step instructions on stealing specific Kia and...
PIA Market Trends Survey: Indications the hard market is causing a shift to E&S placement
The findings of this year’s PIA Market Trends Survey have indicated that the insurance industry is in a hard market cycle. Now, let’s look at how the professional insurance agents who took the survey responded regarding changes in insurer and underwriting behavior,...
Grateful? Make a gift …
As we move closer to the end of November, I am inspired to think about being grateful. I am grateful for family and friends, for my comfortable home, and the delicious food we create—and for gifts made to me by virtue of birth or happenstance. Looking beyond my...
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