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...
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...
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...
To anyone who works in the insurance industry, it is clear that the marketplace is going through a period of transition. The increasing occurrence of severe weather, growing interest rates, and increasing replacement cost are a few of the drivers that are creating...
While the insurance industry has yet to publicly and explicitly acknowledge global warming and the importance of protecting the environment, actions taking place within the industry—which are related to industries and governments—are indicative that a shift is...
Mainsail Insurance Co., is a newly formed carrier, which is wholly owned by Spinnaker Insurance Co. The parent company is Hippo Holdings Inc., which acquired Spinnaker Insurance Co., on Aug. 31, 2020. The Florida Office of Insurance Regulation has approved Mainsail...
In the insurance industry, rules, laws and regulations play a vital role in ensuring fairness and transparency. For insurance companies operating in Connecticut’s admitted and nonadmitted marketplaces, staying compliant with the law is not only a legal obligation, but...
For years, we have been writing personal auto policies that afford 30 days of rental reimbursement coverage at various daily limits. And for years, this was enough coverage. If a vehicle was damaged in an accident, the insured could expect the garage of his or her...
According to a new report published by Insurance Information Institute, American auto and homeowners insurance policies were unable to match the current inflation rates. As a result, Triple-I’s report warns that if losses and expenses keep up at this rate, insurers...
According to the Insurance Information Institute, the insurance industry is seeing more economic momentum in U.S. auto, home, and business insurance than the entire U.S. economy. Mortgages and other personal loans will cost less, allowing for economic development in...
