Industry News

​ Insurance standards-setting organization ACORD ​has published an update to its application for Watercraft Insurance. The new edition is for use on and after March 1, 2020 and replaces the March 2016 edition. ACORD said the new form ACORD 82 (2020/03), Watercraft Application, contains updated fraud warnings for the states of Kansas and New York. The New York wording has also been moved to the place immediately above the insured's signature line. Other changes to the form are semantic or related to formatting.​  Source

​The New York Automobile Insurance Plan​ has asked state insurance producer trade organizations to distribute the following message: Dear Producers,  Section 4 of the New York Automobile Insurance Plan (NYAIP) manual provides for the Department of Financial Services to appoint at least 4 public member alternates to the Governing Committee of the NYAIP.  At the request of the Department of Financial Services, the NYAIP is soliciting producer trade organizations for qualified producers (at least five years of work experience) who are interested in serving in the capacity of public member alternates on the NYAIP Governing Committee for the 2020 term.   Public members on the Governing…

​Government funding measure extends TRIA, NFIP and repeals the 'Cadillac tax.' WASHINGTON, D.C., December 19, 2019— The Independent Insurance Agents & Brokers of America (the Big “I") applauds the U.S. Senate for passing legislation that would reauthorize the Terrorism Risk Insurance Act (TRIA), extend the National Flood Insurance Program (NFIP) and repeal the Affordable Care Act's “Cadillac tax," all as part of government funding legislation. “The Big 'I' would like to thank the U.S. Senate for closing out the year with great news for independent agents," says Bob Rusbuldt, Big “I" president & CEO. “We are grateful that the passage of government funding legislation included…