Industry News

Let's get out there and tell the world!!Tell The World?? Ok, how about at least the next generation how awesome the Insurance Industry is....Over the next ten years, thousands of jobs will be available for the teens and young adults of today. We need to do a better job educating them about the wonderful career that we all know and love; too many kids (and adults too) only know about insurance by what they see on TV... the boring desk job selling insurance. In reality, there are SO MANY career paths in the insurance industry! We need to step up and show them about the other aspects of the…

​The New York Compensation Insurance Rating Board announced ​last week that the state Department of Financial Services (DFS)  has approved a reduction in Workers' Compensation insurance loss costs. New York employers will see an average 2.6 percent decrease in the loss costs used to calculate their premiums effective Oct. 1, 2023.You can find the new loss costs in the board's announcement. Source

​The New York State budget enacted last month added new guaranty fund protections for health insurance policies. They took effect on May 3, 2023.A series of provisions in the budget bills renamed The Life and Health Insurance Company Guaranty Corporation of New York Act as "The Life and Health Insurance Company Guaranty Corporation of New York Act." ​The purpose of the act was amended to include health care providers as among the protected groups. It also states that the protected groups include those who may benefit from health insurance policies issued by health insurance and property-casualty insurance companies.If a health insurance company or a property-casualty company that…