december
IFNY 2023 Free Enterprise Award Luncheon
The Insurance Federation of New York (IFNY) gathered in full force on November 16th for its Annual Free Enterprise Award Luncheon at New York’s Union League Club, whereupon Mr Alan Schnitzer, Chairman of Travelers’ received IFNY’s prestigious award. QBE received the Mary Lanning Public Service Award for its programmes in climate control and DFS Superintendent […]
ACLI ELECTS LEADERS
The American Council of Life Insurers (ACLI)has elected its new Chair, officers and Board of Directors during the 2023 ACLI Annual Conference. Their agenda is significant. Paul A. Quaranto, Jr., Chairman, CEO & President of Boston Mutual Life Insurance Company, was named ACLI Chair for 2024. He succeeds Andy Sullivan, Executive Vice President, Head of […]
Risk Strategies Acquires Prince Associates,Inc.
Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, HAS announced its acquisition of Prince Associates, Inc., a multi-line retail insurance agency based in Hicksville, NY. Terms of the deal were not disclosed. Led by Leith Baren and Craig Sherman, Prince Associates is primarily focused on helping clients in need of commercials lines […]
Applied Underwriters Invitational Golf Tournament Garners Over $10M for Charities
Ryder Cup Winner Luke Donald, Applied President Jamie Sahara Interviewed by Sportscaster Jim Kelly As the world’s largest annual charity golf event heads into its final rounds, Applied Underwriters, the sponsor of the Applied Underwriters Invitational tournament has announced that the effort has set a new record and raised more than 10 million dollars for […]
Avoiding Holiday Scams
The hustle and bustle of the holiday season is upon us. Unfortunately, con artists are also out in full force. The Federal Trade Commission (FTC) reports that consumers lost nearly $8.8 billion to scams in 2022. This represented a 30% increase over 2021 (ftc.gov). Some reports have the number as high as $10 billion. Scams […]
BIG I, PIANY applaud Gov. Hochul’s signing of auto inspection bill reform into law
Best Practices agencies continue exceptional organic growth and invest in young producer development. New York auto insurance policyholders and independent insurance agents expressed universal praise for Governor Kathy Hochul’s signing into law New York’s “Auto Insurance Consumer Relief Act,” a measure supported by both consumers and the insurance community. The bill allows insurance companies to […]
Jewelers Mutual® Expands Counseling Benefit Globally
Relieve counseling services have been extended across five countries through end of year to assist jewelers, their families and employees Mutual® Group, the insurance and business solutions provider dedicated to the jewelry industry since 1913, recently announced the expansion of its “Relieve” counseling service in response to heartbreak being felt in the US and across […]
Petrelli hits “Root Causes” of Cost Drivers in Washington Testimony
Testimony by Joseph Petrelli, ACAS, ASA, MAAA (MBA) President and Co-founder My name is Joseph Petrelli. I have been employed in the insurance industry since 1969, when I entered The College of Insurance on a work-study program. After graduation, I was employed by a regional insurer for four years, and then, a national insurer for […]
Conditions in First Party Property Insurance Policies
When used in contract law, the word condition refers to an event, the occurrence or non-concurrence of which alters the previously existing relations of the parties by creating or extinguishing a legal duty. A condition is different from a promise or warranty. When used in an insurance policy the condition imposes duties on the insured […]
