June 22
4 Reasons Insurers Should Adopt Artificial Intelligence in 2020
According to Price Waterhouse and Coopers & Lybrand (PwC), Artificial Intelligence has the potential to contribute $15.7 trillion to the global economy by 2030. While AI impacts nearly every industry, the insurance market is rife with the opportunity to leverage AI in business operations. Advanced technology such as this not only grants insurers a competitive […]
The Next Pandemic Has Begun to be “Courted”
Commendably, New York Department of Financial Services Superintendent Linda A. Lacewell announced the New York State Department of Financial Services (DFS) has launched DFS FastForward, a new program to support innovators seeking to deliver new solutions in financial services, FinTech, InsurTech, and HealthTech for New Yorkers in the COVID-19 era. “As New York begins re-opening, […]
AmTrust Exec: New Commercial Crime Product
AmTrust Exec, a division of AmTrust Financial Services, Inc. offering a full suite of management liability products, announced that it has introduced a new Commercial Crime product to provide coverage for a wide range of medium- and large-sized businesses. Melissa Schwartz joined AmTrust in January 2020 from Euclid Exec to lead their Commercial Crime product […]
DFS News – Re: Property Damage Due to Riots or Civil Commotion
In June, amidst the rioting, the Superintendent of Financial Services (“Superintendent”) promulgated an emergency 17th amendment to 11 NYCRR 216 (Insurance Regulation 64). This amendment applies to any claim filed on or after May 30, 2020 for loss of or damage to real property, loss of or damage to personal property, or other liabilities for […]
Big ‘I’ Offers New Online Learning Program with IRMI and WebCE
The Independent Insurance Agents & Brokers of America (the Big “I”), along with International Risk Management Institute (IRMI) and WebCE® have partnered to offer EXCEED, a new online learning program designed to reinforce and build upon agents’ training through interactive modules on property-casualty insurance topics and scenarios. Written by top property-casualty industry experts, EXCEED is […]
PIANJ elects officers for 2020-21
Officers of the Professional Insurance Agents of New Jersey for 2018-19 were elected during the association’s annual business meeting. Steven C. Radespiel of Hillsdale, N.J., was elected president. Radespiel is president of Insurance Center of North Jersey in Maywood, N.J. Michael DeStasio Jr., TRIP, of Iselin, N.J., was elected president-elect. DeStasio is senior vice president […]
Independent Agents Divided on Digital Experience
The annual survey of independent insurance agents from Channel Harvest Research shows insurance at a crossroads when it comes to ease of doing business and a divergence between agents who value the personal touch and those who promote self-service. Nearly 2,000 agency staff — from principals to producers to CSRs — participated in the survey […]
SterlingRisk Programs Partners With Elpha Secure To Launch Sterling New Age Cyber
The need for robust cybersecurity coverage has never been greater as businesses of all sizes find themselves increasingly dependent on technology and the vulnerabilities of a remote workforce. To help meet the challenge, SterlingRisk Programs, a division of SterlingRisk Insurance, has partnered with the cybersecurity insurance company Elpha Secure to launch Sterling New Age Cyber. […]
The Benefits of Insurance
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor The insurance industry has long had an image problem. Even though insurance is essential to life as we know it, too often the negative stories, such as claims being denied or delayed, make the headlines. Insurance providers are not always […]
