Yearly Archives: 2022

Industry Roundup: Cyber Incidents Up Since Invasion of Ukraine; How Does the Labor Shortage Impact Workers’ Comp?; Russia-Ukraine Cyberwarfare May Propel Claims in Global Insurance Markets; Metal Thieves Swiping Tailpipes Create 1,000% Spike in Claims

​NY Fines Two Insurers $4.2M for Alleged Reporting FailuresNY Superintendent of Financial Services Adrienne A. Harris today announced that Zurich American Insurance Company and Progressive Direct Insurance Company have entered into separate Consent Orders with the Department of Financial Services resolving DFS's investigations into the companies' failure to timely report certain insured vehicle information to the Department of Motor Vehicles.Experts Confirm Cyber Incidents Up Since Invasion of Ukraine; Insurance Underwriters AdaptingSince the start of the war in Ukraine, the number of cyber incidents in the U.S. has increased, and underwriters will need to adapt, according to a panel of experts at the PLUS Cyber Symposium.How…

Continue ReadingIndustry Roundup: Cyber Incidents Up Since Invasion of Ukraine; How Does the Labor Shortage Impact Workers’ Comp?; Russia-Ukraine Cyberwarfare May Propel Claims in Global Insurance Markets; Metal Thieves Swiping Tailpipes Create 1,000% Spike in Claims

Big I NY Can Help You Meet the New CE Requirements!

We have worked with the Department of Financial Services and are excited to let you know that we have numerous classes approved for the various new requirements. We are ready, willing and able to help you get the new CE requirements you need to renew your license after 4/1/2022.  (Remember, if you can complete your CE requirements and renew prior to 4/1, you don’t need to worry about the new requirements until the next renewal period).  We have worked with our friends at the Department of Financial Services to get numerous classes approved for the various new requirements.  You can see our current list of classes…

Continue ReadingBig I NY Can Help You Meet the New CE Requirements!

Industry Roundup: ​”Unprecedented” Rise in Auto Thefts; Women Are Underrepresented in Independent Agency Leadership; Consumers of All Generations Prefer Insurance Agents; Lemonade Execs Expect ‘Peak Losses’ in 2022

​"Unprecedented" Rise in Auto Thefts – Insurance Crime Bureau Issues WarningMajor cities across the US have seen an “unprecedented" surge in auto thefts and carjackings in recent years, the National Insurance Crime Bureau (NICB) has warned.Roof Inspection Tech Could Speed Claims Process, Prevent LossRoof inspections after storms are often costly and inconvenient. New technology could streamline the process for insurance companies and customers.Small Businesses Are Big Targets for Fund Transfer FraudThe 'low-tech' cybercrime saw big increases in losses and frequency among operations with less than $25M in annual revenue.Women Are Underrepresented in Independent Agency LeadershipA new study from Safeco Insurance and Liberty Mutual Insurance shows…

Continue ReadingIndustry Roundup: ​”Unprecedented” Rise in Auto Thefts; Women Are Underrepresented in Independent Agency Leadership; Consumers of All Generations Prefer Insurance Agents; Lemonade Execs Expect ‘Peak Losses’ in 2022