Yearly Archives: 2021

How Property Insurance Applies to Ida Water Damage

​<a title="Tommy Gao, CC BY-SA 4.0 , via Wikimedia Commons" href="https://commons.wikimedia.org/wiki/File:HurricaneIdaNYC2021.jpg"> As we're sure you know, horrible flooding hit the New York City metro area yesterday as the remnants of Hurricane Ida arrived, dumping a shocking amount of rain, stranding commuters, and costing lives. The loss of life is tragic and immeasurable, and the disruption to the lives of survivors is immense. And property was damaged. The Big I NY and Big I CT research departments have received questions from members about how personal and commercial property insurance may apply. Unfortunately, the news isn't good.Many commercial property insurance policies contain exclusions similar to this one from the ISO…

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Hochul Taps Former Economic Advisor to President Obama to Lead Department of Financial Services

​​On August 31st, Governor Hochul nominated Adrienne Harris as Superintendent of Financial Services, the head of the Department of Financial Services. Harris replaces Linda Lacewell, who resigned on August 24th.Harris brings extensive experience in economics and financial services. She served as a special assistant for economic policy for President Obama at the National Economic Council, and previously worked for the Brunswick Group as a senior advisor to financial companies, venture capital firms, and fintechs. Since leaving the White House in January 2017, Harris went on to serve as General Counsel and Chief Business Officer, and presently as Advisor at States Title, Inc. (now DOMA), which…

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Industry Roundup: Return-to-Work Plans; OSHA COVID-19 Updates; FEMA Overhauls NFIP

Making Return-to-Work Plans Amid the Latest Pandemic SurgeRecent spikes in COVID-19 and lagging vaccination rates in some areas have raised concerns about how to proceed as many companies work to transition employees back to the office or hybrid arrangements this fall.Brokers, Agents Break All-Time Growth Records, Commercial Lines Driving their SuccessIndependent agents and brokers posted their highest organic growth rate in the 13-year history of Reagan Consulting's Growth & Profitability Survey (GPS) in the second quarter (Q2) of 2021. Buoyed by the hard market and rebounding economy, they grew by 7.1%, surpassing their previous high of 6.9% organic growth in Q2 2013.OSHA Updates Guidance for…

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