American Transit announced that it has resolved a lawsuit filed against certain health care providers for what it alleged was fraudulent and other wrongful conduct those providers had engaged in concerning treatment and billing in the no-fault insurance coverage program. American Transit filed its lawsuit in December 2018 in the Supreme Court, New York County, […]
The New York State Senate passed Auto Insurance Consumer Relief Act, a bill to make CARCO inspections optional at the discretion of insurance carriers. Communications from agents, meetings with lawmakers and a spate of calls and e-mails and petitions did it. Employer associations across NY helped the Big I and the PIA and the other […]
The Excess Line Association of New York (ELANY) held its 34th Annual Members’ Meeting on Wednesday, May 4, 2022. Executive Director Dan Maher opened the meeting by introducing ELANY’s 2021 Annual Report. New records were set in many areas of the Excess and Surplus Line (E&S) insurance market including mergers and acquisitions, premiums and transactions. […]
The National Council on Compensation Insurance (NCCI) released its performance metrics for the US workers compensation system for 2021. Private carrier plus state fund net written premium increased about 1% to $43 billion in 2021 (private carrier premium alone was $38B). Private carriers again posted a profitable Calendar Year 2021 combined ratio of 87. It […]
Hagerty, Inc. (HGTY) has launched Digital Labs, a strategic initiative that allows the company to quickly pivot to new products and adopt new business models while fostering a mindset of innovation. “As a growth company focusing on many dimensions of the automotive world, innovation and digital product thinking are critical for our future,” said Hagerty […]
Per the overwhelming support of the NAILBA members, Finseca and NAILBA have officially voted to merge and create: NAILBA, a Finseca Community. On January 4, 2022, Finseca and NAILBA announced an intent to explore a merger after significant due diligence conducted by a joint task force that included NAILBA and Finseca members, staff, and leadership. […]
The Big “I” has announced the appointment of Whitnee Dillard as the new executive director of Invest™ and diversity. Dillard succeeds Deborah Pickford, executive director of Invest, who will retire in May after six years of outstanding contributions to Invest, the insurance industry’s premier classroom-to-career education program administered by the Big “I.” In her new role, Dillard will […]
More than 300 underwriters, brokers, claims personnel and key industry professionals gathered in-person for the first time in three years to participate in the 91st Inland Marine Underwriters Association (IMUA) Annual Meeting. IMUA’s premier education symposium was held April 24-27, 2022, at the Westin Savannah Harbor, Savannah, GA. The first order of business was the […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor It has been 30 years since Hurricane Andrew devastated South Florida – destroying over 25,000 homes, killing 65 people, and resulting in more than $27 billion in damage. The magnitude of the devastation was due in large part to inadequate building codes, […]
Industrial insurer HDI Global Insurance Company (HDI) will be leveraging the cloud-based technology and advanced analytics of Verisk (Nasdaq: VRSK), a leading global data analytics provider, to help increase efficiency and develop innovative insurance products. Using Verisk’s Mozart Form Composer®, Verisk’s InsurTech platform for forms management and product development, HDI will be able to easily […]
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