The New York state Legislature might be in the process of negotiating the budget, but it took the time to introduce two PIA-supported bills that could have a significant impact on the homeowners and auto marketplace, respectively. C-MAP Assemblyman Steven...
Last week, the New York state Senate passed legislation that would direct the New York State Department of Financial Services to—in part—study the possibility of supporting a private flood insurance market. The bill (S.8167), sponsored by Sen. Neil Breslin,...
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...
In today’s rapidly changing world, traditional insurance products may fall short when it comes to effectively managing and mitigating risk. However, to fill those voids a new type of insurance product has emerged—parametric insurance. Parametric insurance covers the...
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...
The findings of this year’s PIA Market Trends Survey have indicated that the insurance industry is in a hard market cycle. Now, let’s look at how the professional insurance agents who took the survey responded regarding changes in insurer and underwriting behavior,...
Professional insurance agents may be aware that the insurance industry is amid a hard market. This means you also may have noticed that your insureds’ premiums have risen, and insurance coverage is more restricted, among other changes. PIA Northeast conducted a survey...
On Oct. 11, 2023, representatives of PIACT were invited by the Connecticut Insurance Department to participate in a virtual roundtable to discuss the health of Connecticut’s property/casualty marketplace, and to advocate for independent insurance producers across the...
Representatives of your association traveled to the halls of the Department of Banking and Insurance in Trenton on Oct. 4, 2023, to discuss PIANJ’s legislative and regulatory priorities, as well as advocate for independent insurance producers across the Garden State....