The global pandemic has uprooted many industries from healthcare to travel to dining. Historically, the insurance industry is one that can survive change because it is a critical need for businesses and individuals. However, this fact alone is no longer enough to drive sustained growth for insurance companies, especially in the face of global events […]
On March 29, the Hudson Insurance Federation of New Jersey, Inc., (HIF) www.hifnj.org, formally announced its establishment as the newest New Jersey-based trade association. HIF consists of members across all segments of the insurance industry including property-casualty, life-health, brokers and agents, regulators, and compliance professionals. HIF’s co-founders include James M. Burns, a partner at Genova […]
By Howard S. Kronberg, Esq.
On February 10, 2021 the Appellate Division First Department[1], affirmed the dismissal of a failure to procure action against a broker in the case of Trimasa Restaurant Partners[2]. This case is a significant decision in that it narrows, limits and thus clarifies the application of the special relationship doctrine, which has been used by plaintiff’s attorneys in E&O lawsuits since 1997 to attempt to hold insurance agents and brokers liable for things that they never agreed to do for their customers, like procuring coverage not specifically requested. Here, we will review the special relationship doctrine and the court’s decision in the Trimasa case.
When I first learned that Mary Lanning had passed away, it took a while for it to sink in. Later that day, I went to the internet to find her CV and photo for this column. Her bio, her “story”, was hidden among the pages describing her projects and her great works of charity. “Selflessness” […]
The Independent Insurance Agents & Brokers of America (the Big “I”) has announced that Bill Hemmer, co-anchor of FOX News Channel’s “America’s Newsroom,” will be a featured speaker at the annual Big “I” Virtual Legislative Conference. Hemmer will chat with Big “I” President & CEO Bob Rusbuldt on Friday, April 16 in the closing segment […]
The Big “I” Agents Council for Technology has updated its Customer Experience (CX) Journey webpage to debut a free online independent agency CX self-assessment. Agencies can now use the self-assessment tool to gain insights on ways to improve digital interactions with customers. The self-assessment asks a series of questions regarding technology touchpoints across consumers’ insurance […]
Risk Strategies, a national specialty insurance brokerage and risk management firm, announced a new brand strategy designed to harness the full power of all the business entities within the Risk Strategies family. “This will allow each division to come together as one holistic brand and highlight the company’s specialist approach to partnering with clients”, they […]
Amwins, a global distributor of specialty insurance products and services, announced its acquisition of Worldwide Facilities, the fourth-largest wholesale broker in the U.S to expand its offerings to provide a wider variety of unique, specialty insurance solutions to its retail clients. With a flurry of mergers and acquisitions in the specialty insurance space, Amwins states […]
By Sunz Holdings Across the country states are slowly but steadily looking to make the COVID-19 vaccine available to all age groups. While many celebrate this development in the ongoing fight against COVID-19, the vaccine poses interesting questions for employers and staffing companies. Can we mandate the vaccine for all employees? According to the EEOC which […]
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