Industry News

​​Biden Executive Order Takes​​ Aim at Noncompete AgreementsPresident Biden signed an executive order that the White House says is meant to promote competition in the American economy. The order includes 72 initiatives by more than a dozen federal agencies to tackle what President Biden says are some of the most pressing competition problems across the U.S. economy.What are the Longe​​​r-Term Implications of the Florida Condo Collapse?Authorities still don't know what caused Champlain Towers South to give way last month in Surfside, Florida, killing at least 46 people and leaving more than 90 unaccounted for. But early leads point to cracked concrete and frequent flooding in…

​The New York Compensation Insurance Rating Board (NYCIRB) has announced that it is discontinuing a special Workers' Compensation classification created during the COVID-19 pandemic. The classification will no longer be valid as of July 25, 2021.The classification, code 8873 - Telecommuter Reassigned Employees, was introduced in May 2020. The board created it to recognize the reduced exposure of "employees who, during New York’s stay-at-home order related to the COVID-19 pandemic (and future stay-at-home orders), are reassigned to either (a) not perform any work duties (idle), or (b) perform clerical work duties at home."​ The loss cost assigned to the classification was equ​​The revision to the New York Workers'…

​Liberty Mutual Agrees to Buy State A​​uto In $2.29 Billion DealLiberty Mutual Holding Co. agreed to buy State Auto Financial Corp. for about $2.29 billion in cash, adding roughly 3,400 independent agencies in 33 U.S. states. Liberty Mutual is owned by its policyholders and is one of the more acquisitive insurers with that structure. How Insurance Agencies​​ Find Sales Talent in Small MarketsSmall markets pose a unique challenge for agencies looking to grow. You have more options than just the “born and bred" hometown producer, including newbies, out-of-industry converts and returning home stories. Learn some strategies that may help.Premium Finance:  Is thi​​s the next great…