Manufacturers are increasingly facing risks that can impact their operations significantly—both in production and public relationships. Roughly 84% of respondents to a 2022 survey said they’re willing to pay more for products from a company they perceive to be...
Understanding DFS guidance on cyber security risks from AI for insurance agents
As of Oct. 16, 2024, the New York State Department of Financial Services issued new guidance for the entities it regulates—specifically addressing cyber security risks arising from artificial intelligence. This guidance is especially relevant for insurance agents and...
Spooky insurance, part I: Paranormal activity and you
Now that it’s October, it’s time for everything pumpkin spice, Halloween décor and nightly thrills with your custom queue of horror media. This year, my favorite streaming apps have not disappointed; they’re loaded with fresh, new releases and spine-tingling...
N.Y.: American Transit Insurance Co.’s looming collapse: causes, regulatory failures and impact
There was a time when New York City’s streets were dominated by yellow taxis—weaving through traffic and honking their way across the avenues—embodying the city’s frenetic energy. Hailing a cab was an art perfected by native New Yorkers—hand raised high, eyes scanning...
N.J.: The right to disconnect from work?
The New Jersey state Legislature returned from summer break earlier this month, and legislators have wasted no time introducing legislation that could impact workers across the state. Introduced in the New Jersey Assembly on Sept. 23, 2024, A-4852, would...
Tremors & insurance: Or how I learned to start worrying and fear the worm
Sandworms. You may not recognize one on sight, but your brain does. They’ve been a fixture of pop culture since Frank Herbet’s seminal 1965 novel, Dune. Star Wars. Beetlejuice. Men in Black. Gargantuan worms that burrow through the ground bind all these works of...
PIANY-supported BI bill signed into law
Gov. Kathy Hochul officially has signed bill A.10342 into law, expanding business interruption insurance coverage in New York state. The bill’s passage marks a significant step in redefining the scope of business interruption insurance by decoupling it from the...
Infrastructure series: Bridge the gap: We need solid structures in a world without flying cars
If science fiction has taught us anything, by 2024, we should have been cruising around in flying cars. Yet here we are, still relying on the same roads and bridges our ancestors built. While the dream of flying cars is still out of reach, one reality we must face is...
N.H.: NCCI WC loss cost decrease of 5.6% approved by NHID for 2025
The New Hampshire Insurance Department approved the original workers’ compensation voluntary loss cost filing made by the National Council on Compensation Insurance—consisting of an overall 5.6% decrease. These loss costs will take effect Wednesday, Jan. 1, 2025. For...
Startup tactics: Launching and scaling efficiently on a limited budget
Launching a startup company without a budget is possible with the right approach. Accomplish your goals by choosing the right type of business, maximizing efficiency, and using innovative tactics to scale your business. Here are some tips to get you started. Getting...