News

​The New York Compensation Insurance Rating Board is eliminating eight Workers' Compensation classifications next fall. The classifications will no longer be assigned to employers as of Oct. 1, 2023. This may impact some of the employers you insure. In a bulletin​, the board said that the classifications were "low credibility," and the operations they cover were being combined with other related classifications.The affected classifications are:2670, Glove Manufacturing (Mfg.) – Leather or Textile, and 2689, Pocketbook Mfg. are being combined with 2688, Leather Goods Mfg. – Not Otherwise Classified (NOC)2913, ​ Rattan, Willow or Twisted Fiber Products Mfg. is being combined with 2883, Furniture Mfg. – NOC – Wood3381, Silverware Mfg., 3384, Precious Stone Setting, and 3385, Clock Mfg. are…

​The New York Automobile Insurance Plan (NYAIP) has announced the adoption of several new and revised endorsements designed to exclude coverage for losses arising out of peer-to-peer car sharing arrangements. The endorsements were adopted effective Nov. 23, 2022. You should expect to see them on NYAIP policies immediately.A peer-to-peer car sharing arrangement is one where an individual owner of an automobile makes it available for rental to another individual by way of a smart phone application platform. Turo is the most well known such platform.A law permitting such arrangements in New York took effect last spring. The New York State Department of Financial Services has…

​​A newly adopted amendment to the insurance licensing law in California will require most emails sent by producers to include their California license numbers. The change was signed into law by California Gov. Gavin Newsom on September 18 and takes effect on January 1, 2023. If you have a California license, you will need to comply with this requirement for emails with anyone who has a loss exposure in that state.Current state law already requires producers to include their license numbers on business cards, written price quotations, and print advertisements in a specified type size. Section 13 of the new measure adds emails to that list. It…