I want to talk about cat events. No. This isn’t related to a grouping of our feline friends, rather it’s the term most insurance companies use to describe an area-wide catastrophic weather event—such as the floods that hit Tennessee, Texas, North Carolina, parts of...
Trends in the insurance industry have shown that carriers are raising rates, limiting coverages or pulling out of entire markets—often citing catastrophic losses tied to natural disasters. From wildfires in California and tornadoes in the Midwest, to hurricanes along...
With hurricane season underway, and Congress still negotiating a continuing resolution to fund the federal government, insurance agents should be prepared for the possibility of a lapse in the National Flood Insurance Program. Currently, the NFIP is set to expire Tuesday, Sept. 30, 2025. A short-term flood extension bill has been attached to the stalled CR, raising concerns about what could happen if lawmakers don’t act in time.
Cleaning up your house or building after it has been damaged by a storm is not as simple as it may seem, but there are safety precautions you can observe to ensure the job goes smoothly after the storm. Before you even begin the clean-up process, always remember to...
Most people don’t spend much time thinking about their insurance premiums outside of when they pay them. However, many factors determine an individual’s premium—age, claims history and location—all affect a premium rate. There also are factors that are outside of your...
Living in a coastal community has many benefits that come with the ever-present threat of a hurricane causing significant damage to your property and community. However, homeowners can take steps to prepare their homes to withstand a storm. Investing in storm...
At the start of the 2025 Connecticut legislative session, PIACT set an ambitious goal to make significant reforms to the state’s excess and surplus lines placement process; protect consumers from increased premiums; and protect producers from errors-and-omissions exposures. Now with the 2025 session in the rearview mirror, PIACT can claim with confidence: Mission accomplished. With the passage of H.B.6981, PIACT secured a major win that will modernize the way brokers access the E&S market. Meanwhile, PIACT engaged in advocacy on bills related to flood insurance disclosures, dog breed underwriting and fossil fuel infrastructure surcharges—shaping outcomes that reflect the realities and needs of producers and consumers alike.
The Atlantic Hurricane season is just around the corner: are you prepared to face it? Whether you live on the coast or are more inland, you should make it a priority to be prepared for anything. Hurricanes are serious storms that can devastate acres of land—taking...
As part of the Federal Emergency Management Agency’s ongoing efforts to enhance and streamline the systems that support flood insurance processing, National Flood Insurance Program Direct is migrating to a new system, with the go-live date set for Monday, April 7,...
New York Gov. Kathy Hochul signed a chapter amendment—A.2056—into law last month, which further limits how much flood insurance mortgage lenders can require. This new law amends legislation passed last session that prevented lenders from demanding flood insurance that...