In a recent meeting with PIANJ leadership, Brian Lytwynec, president and chief executive officer; and Jon Zabek, executive vice president membership growth and chief data scientist from Franklin Mutual Insurance Group provided valuable insights into the carrier’s plans for the future. Featured in the photo from left to right: Brian Lytwynec, president and chief executive officer of Franklin Mutual Insurance Group; and Jon Zabek, executive vice president membership growth and chief data scientist of Franklin Mutual Insurance Group.
PIA’s Company Representation Survey: Congratulations to our winners
PIA Northeast would like to congratulate the following individuals for winning the drawing from our recent PIA Northeast Company Representation Survey: David Gazaway Jr., Allied Insurance Agency Inc., Bow, N.H.; Tom Massotti, High Ridge Agency, Stamford, Conn.; John...
What to know: The N.Y. insurance guaranty fund
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...
When carriers withdraw from a market
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...
From PIANY President Gary Slavin, re: Adirondack, AmGuard leaving markets
Dear PIANY members, I’m writing to you to discuss the recent announcements from Adirondack Insurance Exchange and AmGuard Insurance Co., regarding their decisions to withdrawal from specific insurance marketplaces. When the announcement was made, an email was sent to...
Adirondack Insurance Exchange announces departure from New York insurance market
In a significant development for New York state's insurance industry, Adirondack Insurance Exchange has announced its decision to exit the state's insurance marketplace. This move comes as AIE faces ongoing financial difficulties and a deteriorating capital...
AmGUARD Insurance Co. withdraws from personal-lines marketplace, effective July 8
In a significant move impacting the insurance landscape, AmGUARD Insurance Co., has announced its decision to withdraw from the personal-lines marketplace for admitted business nationwide, effective July 8, 2024. Most notably, this decision will affect homeowners and...
There and back again: An E&S journey
In the 2023 E&S edition of PIA Magazine, I wrote about the perils and pitfalls that insurance producers face when placing business in the nonadmitted—or excess & surplus lines—marketplace through the lens of Lord of the Rings. [EDITOR’S NOTE: You can access...
The FTC’s new rule on noncompete agreements: What does it mean for agencies?
In a move poised to transform the labor landscape across the United States, the Federal Trade Commission has introduced a final rule that bans the use of noncompete agreements nationwide. This sweeping regulation—expected to significantly impact both employers and...
What PIA members need to know about the Corporate Transparency Act
While the Corporate Transparency Act became law on Jan. 1, 2021, you may just be hearing about it now. That is because it became effective as of Jan. 1, 2024, and it has created new business reporting requirements on a federal level for smaller businesses. The law’s...