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On Our Mind: All Stars

​By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & DevelopmentI’m a big baseball fan. I know there are people who love the game as much I do and many people who think it is too boring. However, as I was watching the Major League All Star game recently, something hit me in the forehead- what a great bunch of new and young stars!! They are energetic, extremely talented and play for the love of the game (well, that and a few million dollars a year)!Nonetheless, it got me thinking about the insurance industry - we need new young talent​ - we need people who can take…

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Work Comp Loss Costs To Decrease 6.4%

  • Post category:News

​The New York Compensation Insurance Rating Board (NYCIRB) announced yesterday that its filing for a 6.4% decrease in Workers' Compensation insurance loss costs has been approved. The new loss costs apply effective Oct. 1, 2021. Many of your clients may see reductions in their base loss costs.The NYCIRB files proposed loss costs with the New York State Department of Financial Services for approval every summer. Individual insurers periodically file a numerical factor called a "loss cost multiplier" with DFS. The loss cost multiplied by the loss cost multiplier produces the final rate that an insurer charges an employer for Workers' Comp insurance. The NYCIRB said that this is…

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​New Webinar Series: Website Wording Liabilities

Th​e Big “I" Professional Liability Risk Management team invites Big “I" members to attend the second set of sessions in its complimentary new webinar series, Your Website Says WHAT? How Your Agency's Online Presence Puts Your Business at Risk.This series of webinars is focused on the errors & omissions issues created by agency websites and an agency's overall marketing efforts. The sessions will help you understand how the words you use can create unrealistic expectations and what you can do to prevent that. During each 30-minute session, you'll learn about this topic from one of multiple angles, including agents, attorneys, claims adjusters, auditors, and the Big…

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