Industry News

​Biennial study reveals stability and challenges in independent agency system.ALEXANDRIA, VA, March 29, 2021—The number of independent insurance agencies has remained stable and business conditions continue to improve, although at a slower rate than 2018, according to the 2020 Agency Universe Study.Future One, a collaboration of the Big “I" and leading independent agency companies, has released key findings from the recently completed Agency Universe Study, hailed as the most comprehensive look at the independent agency system.   “The 2020 Agency Universe Study reveals good news for the independent agency system, including continued adaption to the digital solutions and innovations that enable independent agents and brokers across…

​No fooling - here's a roundup of the industry news you need but may have missed.April 1, 2021Homeowners becoming more proactive in improvements, repairs​Since the start of the pandemic, more than half of homeowners made improvements to their property, according to Hippo, which noted 71% said they'd continue making the same amount of home improvements moving forward. Are your policyholders updating their coverges accordingly?Will new federal programs help k​eep commercial drivers safe?​If you serve the transportation industry, you must keep an eye on these programs that could impact your trucking risk management this year.Participate in Insurance Journal's Young Agent Survey Today​Insurance Journal is seeking young…

​The New York Compensation Insurance Rating Board has announced a rule change that clarifies which operations should and should not be assigned to the marina classifications. The board also made the telecommuter classification more specific. If you provide Workers' Compensation insurance for these types of operations, you may want to inform your clients.The New York Workers' Compensation Manual has two classifications for marinas - code 6826F for employers subject to the U.S. Longshore and Harbor Workers’ Act, and code 6836 for employers who are subject only to the New York Workers' Comp law. The new rules clarify that these classifications apply to employers that have "boat…