Industry News

​Photo by Sue Thompson​. Used under a Creative Commons Attribution-No Derivatives 2.0 license​. Insurance standards setting organization ACORD has announced revisions to two of its published forms pertaining to flood insurance. You should plan on using the new editions starting in December. ACORD is treating both as new forms due to the number of changes.​ACORD 301 (2022/12), National Flood Insurance Program - Flood Insurance Application, replaces the 2015/04 edition. It is designed to work with the NFIP's Risk Rating 2.0: Equity In ACTION rating methodology, introduced last year. ACORD 304 (2022/12), NFIP - Flood Insurance Cancellation/Nullification​, replaces the 2018/08 edition. It is designed to work with the policy cancellation…

Most Connected Car Drivers Aren't Unlocking Premium Discounts with DataOver 70% of drivers are interested in using connected car data for insurance discounts, but less than a quarter do.Chubb Breaks Records In Q2 EarningsIt was a record-breaking quarter for Chubb, the world's largest publicly traded property & casualty insurance company, which released its second quarter earning.​Nearly All Major Commercial Lines Saw Premium Renewal Rate Change Increases in Q2 2022According to the latest Ivans Index report, workers' compensation was the only major commercial line to see a negative change.New York Begins $30M Program to Help Municipalities Boost Cybersecurity EffortsNew York State is beginning a $30 million…

What Property Owners Need to Know About Landlord InsuranceRenting out a property also gives rise to a unique set of potential risks, so getting the right kind of protection is crucial.Are We Entering the Age of Pay Transparency?Many employees are becoming more and more curious about what their colleagues are making, in an ongoing effort to institute pay equity.NHTSA Investigating Another Fatal Tesla CrashThe National Highway Traffic Safety Administration has opened an investigation into a fatal crash involving a Tesla, according to documents viewed by TechCrunch.Cyber Insurance Firm Coalition Valued at $5 Billion After Fund RaiseCoalition raised $250 million in a late-stage funding round last…