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​ Governor Hochul Signs Bill Prohibiting Consideration of Dog Breed in Underwriting

​On October 30th, Governor Hochul signed legislation prohibiting insurance carriers from refusing to issue, renew, cancel, or charge a higher premium for a homeowners' liability coverage based upon specific breed of an insured's dog. Big I NY opposed this legislation, expressing concerns that limiting underwriting flexibility would lead higher premiums for all homeowners. The legislation takes effect January 28th, 2022, and applies to all policies issued, renewed, modified, altered or amended on or after that date.  Source

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3, 2, 1 With Sue Keegan: Cyber Insurance 101; Grow Your Worker’s Comp Book; Bones or No Bones Day?

​By Sue Keegan, AIC, MBA, Learning & Development Manager​3 ThingsJoin Britney Rohall of Cowbell Cyber this Wednesday, November 3rd, at 2 p.m., as she presents Cyber Insurance 101.  Britney will cover the basics that agents, brokers, businesses and security professionals should know when approaching cyber insurance.  Free for members!Join Stephen Primiano and a special surprise guest on Wednesday, November 10th, at 11 a.m., to learn Proven Strategies for Growing Your Workers Compensation Book.  The Workers Compensation market is extremely competitive right now - there is a lot of capacity, more people, and new entries.  Join Stephen (and special guest) to learn how to grow in this market.  Free for…

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Industry Roundup: ​Auto Insurers Face Mounting Claims Costs Post-Pandemic; More Organizations Are Saying ‘No’ To Ransomware Demands; U.S. Infrastructure Bill Offers the Groundwork for Personalized Insurance

​Auto Insurers Face Mounting Claims Costs Post-PandemicSurging vehicle repair and replacement costs will significantly slash underwriting margins of the country's car and truck insurance providers as claims rebound to pre-pandemic levels.Judge Stands by Decision to Deny Dismissal of Bi SuitThe case involves the important issue of whether the COVID-19 virus causes “physical loss or physical damage." In the motion for reconsideration, Continental Casualty cited several decisions from New York and Illinois asserting that courts in both jurisdictions overwhelmingly found that the presence of the virus does not trigger coverage under a policy requiring “direct physical loss or damage to property."More Organizations Are Saying 'No' To…

Continue ReadingIndustry Roundup: ​Auto Insurers Face Mounting Claims Costs Post-Pandemic; More Organizations Are Saying ‘No’ To Ransomware Demands; U.S. Infrastructure Bill Offers the Groundwork for Personalized Insurance