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Industry Roundup: ​Rating Upgrades Increase for U.S. P/C Insurers in 2021; Insurer Sues Real Estate Firm for Workers’ Comp Fraud; Gangs Now Arbitrate Payment Disputes as Ransomware Growth Continues; & More

​Rating Upgrades Increase for U.S. P/C Insurers in 2021Ratings for the U.S. property/casualty industry returned to pre-pandemic levels with some companies strengthening balance sheets and improving operating results, said financial strength rating agency AM Best.Insurer Sues Real Estate Firm for Workers' Comp FraudAn insurance company is suing a New York real estate firm for allegedly ducking nearly $1.5 million in workers' compensation premiums.Allstate Auto Lines Suffer as Inflation Boosts 'All the Costs'Allstate Corp. results missed estimates for the second quarter in a row as the highest inflation in 40 years drives up the costs of insuring and repairing automobiles.How Champlain Towers Could Impact Condo Insurance…

Continue ReadingIndustry Roundup: ​Rating Upgrades Increase for U.S. P/C Insurers in 2021; Insurer Sues Real Estate Firm for Workers’ Comp Fraud; Gangs Now Arbitrate Payment Disputes as Ransomware Growth Continues; & More

Become an IMS Sub-producer

Big I New York helps agencies gain access to useful insurance markets through its investment in Independent Market Solutions (IMS). This members-only program allows agents to quickly connect with carriers and find insurance products suitable for their clients' needs.IMS offers very competitive terms, and there is no cost to join. To start taking advantage of this exclusive member resource, you must complete New York's market access application. Before you begin the application, please make sure you have quick access to the following, which you'll need to complete the process:Agency (if applicable to your state) and individual agent license numbersAgency Federal Employee ID Number (FEIN)Agency E&O…

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Albany Update: Agents Advocacy Week(s), National Legislative Conference, The Importance of IAPAC, Mask Mandate Dropped

​Save the dates for our 2022 Agents Advocacy Week(s) April 4th-15th (Virtual)Advocacy Week returns this year, bigger than ever! Join fellow independent agents from across New York State for Big I NY's Virtual Independent Agents Advocacy Week(S) This empowering event will kick off with an advocacy training session on April 4th, followed by virtual meetings with your state legislators who represent you in Albany. This is your opportunity to be an advocate for your industry and your customers. During Advocacy Week(s), you'll meet your state lawmakers, and be part of the movement to help the independent channel thrive – all from the convenience of your…

Continue ReadingAlbany Update: Agents Advocacy Week(s), National Legislative Conference, The Importance of IAPAC, Mask Mandate Dropped