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N.Y.: Revised WC loss costs take effect Oct. 1

N.Y.: Revised WC loss costs take effect Oct. 1

by Dan Corbin, CPCU, CIC, LUTC | Jul 22, 2024 | Technical

In May, the New York Compensation Insurance Rating Board submitted an application for an overall loss cost decrease of 9% to the New York Department of Financial Services. The DFS approved the application as filed with an effective date of Tuesday, Oct. 1, 2024. There...

The insurance implications and economic impact of the Francis Scott Key Bridge collapse

The insurance implications and economic impact of the Francis Scott Key Bridge collapse

by Matt McDonough | Apr 4, 2024 | Featured, General News

On the early morning of March 26, 2024, the container ship MV Dali hit the Francis Scott Key Bridge in Baltimore, Md. The bridge collapsed within the span of a minute, sending the bridge, cars, machinery, cargo, and even people in the chilly depths of the Patapsco...

In review: New Jersey’s legislation session 2022-23

In review: New Jersey’s legislation session 2022-23

by Bradford J. Lachut, Esq. | Feb 7, 2024 | Advocacy, Featured, Technical

While PIANJ may have faced challenges in advancing the association’s top priority—a ban on the use of step-down provisions in personal auto policies—your association’s efforts during the 2022-23 session were not in vain. The organization has seen widespread success in...

In review: New Jersey’s legislation session 2022-23

N.J.: Trio of insurance-related laws signed

by Bradford J. Lachut, Esq. | Jan 18, 2024 | General News

At the end of the 2022-23 legislative session in New Jersey a series of insurance-related bills that will impact personal- and commercial-lines clients were signed into law by Gov. Phil Murphy. These bills range from mandating safety measures in housing construction,...

Design workspaces with employee health and safety in mind

Design workspaces with employee health and safety in mind

by Katie Brenneman | Dec 1, 2023 | Agency Management, Featured, General News

Whether you’re a business owner or manager, employee well-being and safety should be at the top of your priority list. You might have safety strategies and health practices in place designed to keep your employees happy and healthy, but you could be overlooking...

N.J.: 2024 WC overall rate level decreases 3.9%

N.J.: 2024 WC overall rate level decreases 3.9%

by Dan Corbin, CPCU, CIC, LUTC | Nov 28, 2023 | Featured, Technical

The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -3.9% to become effective Monday, Jan. 1, 2024, applicable to new and renewal policies. The NJCRIB distributed Circular...

NCCI 2024 WC loss cost decrease of 9.8% approved

NCCI 2024 WC loss cost decrease of 9.8% approved

by Dan Corbin, CPCU, CIC, LUTC | Nov 21, 2023 | Featured, Technical

The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 9.8% decrease.  Also approved is an overall assigned risk rate reduction of 10.5%....

N.Y.: Updates to Workers’ Compensation Law

N.Y.: Updates to Workers’ Compensation Law

by Danielle Caswell, Esq. | Oct 16, 2023 | General News

There have been recent changes to New York state’s workers’ compensation law that is important to for employers to note—starting in 2024. In September 2023, Gov. Kathy Hochul signed S.1161-A/A.2034-A into law, which will increase the minimum benefits for workers’...

The New York City crane collapse of 2023

The New York City crane collapse of 2023

by Theophilus Alexander | Aug 11, 2023 | Featured, General News

The iconic New York City skyline is renowned for its dazzling lights, towering skyscrapers—and unfortunately its unsightly construction cranes and scaffolding. On July 26, 2023, a crane—situated atop a 45-story building in Midtown Manhattan—abruptly caught fire and...

N.Y.: Revised WC loss costs effective 10/1/23

N.Y.: Revised WC loss costs effective 10/1/23

by Dan Corbin, CPCU, CIC, LUTC | Aug 8, 2023 | Featured, Technical

In May, an application for an overall loss cost decrease of 2.6% was submitted to the New York Department of Financial Services by the New York Compensation Insurance Rating Board. The DFS approved the application as filed with an effective date of Sunday, Oct. 1,...

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