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Don’t Forget To Offer Your Clients Flood Insurance

​ Photo ​by Staff Sgt. Sharida Jackson, U.S. Air ForceUsed under a Creative Commons Attribution 2.0 license​Ever since Tropical Storm Ida dumped huge amounts of rain on the New York City area earlier this month, we've been receiving questions from members about insurance coverage for water damage losses. Unfortunately, homeowners insurance will not cover most of these losses. This seems like a good time to remind you that New York State law​ requires insurers to inform their homeowners and dwelling policyholders that their policies do not cover flood damage, and that coverage is available from the National Flood Insurance Program. Some of the insurers you represent may…

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Industry Roundup: What Actions Can Employers Take if Staff Avoid Covid-19 Vaccines?; Civilian Space Tourism: There’s Coverage for That; Hurricane Ida: Estimated Insured Losses Revealed

​Newer Contractors, Laborers Account for Most WC ClaimsBuilding and construction firms that have been in business for four years or less account for three-quarters of workers' comp claims in the contractor sector, according to AmTrust Financial.Flood Risk Drivers: Rising Sea Levels, Extreme Weather & The MoonBy the mid-2030s, every U.S. coastal region will experience rapidly increasing high-tide floods, or so-called sunny day floods, according to the National Aeronautics and Space Administration (NASA), which explains a lunar cycle will exacerbate rising tides and usher in a decade of increasing flood risks in the U.S.The Rise of Insurtech Does Not Mean The Fall Of Insurance AgentsAgents must…

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Big ‘I’ Opposes Tax Increases Cleared by Ways and Means Committee

​Legislation from U.S. House committee would raise taxes on independent agencies.​WASHINGTON, D.C., Sept. 15, 2021 — The Independent Insurance Agents & Brokers of America (the Big “I") today voiced opposition to the U.S. House of Representatives Ways and Means Committee's passage of legislation that would raise roughly $2 trillion of new revenue through tax increases on businesses and individuals.  “The Big 'I' was disappointed to see House Democrats on the Ways and Means Committee vote to move forward with a number of substantial tax increases on our nation's small businesses," says Charles Symington, Big “I" senior vice president of external, industry and government affairs. “The last…

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