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On Our Mind: Leaders in the Making

By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & Development​​I am sitting here writing this with a big ol' smile on my face… why? We just finished our second class of the Big I NY Leadership Academy. We have eight participants and I couldn't ask for a better first cohort!!They have been engaged, entertaining, energetic and vulnerable-willing to learn from each other and share some of their day-to-day challenges.  The people in the class range from a 24-year-old who is just starting her insurance career, to a 45-year-old, mid-level manager to a (little older) owner of a small agency. However, what we have all come to…

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Industry Roundup: Competition Is ‘Fierce’ To Insure Established Cannabis Businesses; Offices Reopen with Safety Plans, but Big-City Commutes Rattle Workers; Biden’s Vaccine Plan Puts OSHA in Spotlight

​Large Insurers Embrace Digital Exchanges, Selling Their Own and Other PoliciesMajor U.S. insurers are joining new digital exchanges to sell not only their own policies but also those of rivals, a fresh twist in an industry known for fierce competition.Competition Is 'Fierce' To Insure Established Cannabis BusinessesThe battle is heating up to write property lines for well-run cannabis businesses with clean loss histories, which are seeing capacity increase, according to a report by Amwins, Inc.Small Business Cyber Insurance Premiums Up 7% In 2021Since the start of the year, cyber insurance rates have increased 7% for small businesses, according to AdvisorSmith Solutions, Inc., which estimated organizations…

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Are You and Your Clients Ready for the New Flood Insurance Pricing?

​Photo by jim gade on Unsplash​As reported in today's issue of The New York Times​, the way the National Flood Insurance Program sets premiums for coverage is going to change for the first time in 50 years next Friday. For some current and prospective property owners, the change may be painful. The methodology change takes effect for new policies on Oct. 1, 2021, with renewals following on April 1, 2022.The traditional way of pricing flood insurance has been to use a flood insurance rate map (FIRM) to determine the flood risk zone in which a property sits. For those properties in special flood hazard areas (SFHA),…

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