Industry Roundup: July 22, 2021

​​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…

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Work Comp Rating Board Discontinues COVID Telecommuter Classification

​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'…

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On Our Mind: All Stars

​By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & DevelopmentI’m a big baseball fan. I know there are people who love the game as much I do and many people who think it is too boring. However, as I was watching the Major League All Star game recently, something hit me in the forehead- what a great bunch of new and young stars!! They are energetic, extremely talented and play for the love of the game (well, that and a few million dollars a year)!Nonetheless, it got me thinking about the insurance industry - we need new young talent​ - we need people who can take…

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