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How to Leverage Broker Tech in a Hard Cyber Market?

​A guest post by Relay Platform​.Cyber insurance has faced its share of hard bumps over the past few years. Following an unrelenting tide of cyber security claims and a subsequent spike in rates and coverage restrictions, cyber insurance has become a trying market for insurance brokers to say the least. And with cyber criminal activity showing no sign of waning, the trend is likely to continue.To weather the storm, brokers need to be innovative in order to compete. In the digital age adopting the right technologies has become synonymous with embracing the right technologies. In this article, we'll take a look at the new breed…

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State Proposes Regulations For Homegrown Cannabis

​The newly-created New York State Office of Cannabis Management has proposed new regulations that would govern the personal cultivation of cannabis plants. If adopted, the proposal published in the Nov. 17, 2021 edition of ​New York State Register would set the legal parameters for individuals who wish to grow marijuana plants  in their homes. Growing cannabis at home may increase the risks of losses covered by homeowners and renters insurance.The proposed rules permit cultivation of cannabis plants by individuals over age 21 in or on the grounds of their private residences. There are limits on the permissible number of "mature plants" (flowering plants visibly budding) and "immature plants"…

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​ Albany Update: Big I NY Opposes Mandatory Insurance Disclosure Bill, UI Tax Hikes

​This week, Big I NY joined a broad coalition of business, municipal, and construction groups in calling on Governor Hochul to veto the “Comprehensive Insurance Disclosure Act". The bill would require the automatic disclosure of virtually all information related to a defendant's insurance coverage and information, including insurance applications. Typically such information is obtained through discovery, in which a judge has discretion to allow only relevant materials to be disclosed. The practical effect of this bill would be to put significant discovery costs on defendants, and give plaintiffs attorneys a trove of information to engage in a litigation “fishing expedition," pursuing claims based on a defendant's available coverage…

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