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...
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...
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...
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...
Insurance is meant to protect you when unexpected events happen, but what happens if your insurance company goes out of business? That’s where the New York insurance guaranty fund comes in. This fund is designed to protect policyholders and ensure that claims are paid...
As an independent insurance agent, navigating the market and crafting an offer that stands out from the rest—an offer that can’t be dismissed easily—requires a deeper understanding of your client’s specific needs and business circumstances. If you're not focused on a...
Generally, business owners, agency owners, and business leaders have several critical success factors to consider as they manage and grow their businesses. Some essential success factors are apparent (e.g., profitability, providing a good product or service or...
The hard market has been a recurring topic of conversation over the last several months as something impacting insurance producers nationwide significantly. Diving further into the topic, the recent pattern of carrier withdrawals from various markets has become rather...
Staged construction accidents have become a growing concern in New York, significantly affecting the property/casualty insurance sector. This fraudulent activity undermines the integrity of the construction industry and leads to substantial financial repercussions for...
Recently, the Department of Banking and Insurance released Bulletin No. 24-10, requiring all insurers authorized or admitted to sell property/casualty insurance in New Jersey to participate in a comprehensive survey on low-income housing discrimination. Facing...