January 2025
In Need of a Lift: Taxi and FHV Businesses Stall on Way to an Insurance Solution
FHV sector. Commercial Auto Industry is Bleeding Thanks to Rising Costs of Drivers, Rampant insurance Frauds & Regulatory Abuse. By Kamal Ahmed New York City’s For-Hire Vehicles (FHV) industry is witnessing multifarious snags mainly due to the rising costs of drivers, widespread insurance frauds, regulatory abuse and imbalanced opportunity, impacting the livelihood of taxi and […]
Collector Car Owners to the Rescue
Standard auto insurers continue their efforts to recover from the unprecedented losses they experienced during COVID-19 due to spikes in catastrophic insurance claims and increased vehicle repair costs. As a result, US drivers have experienced the largest rate increase seen in nearly 50 years, including less risk-prone collector car owners. While “Bundle and Save” programs […]
Have You Been “Brushed?”
Scammers continue to come up with creative ways to disrupt people’s lives. Brushing scams – receiving items that you did not order, or having your name used in reviews of products you don’t use – is one of the current popular schemes. It is called brushing because the perpetrator is trying to “brush up” or […]
PIANY applauds the governor for signing two PIA-priority bills into law: parametric insurance and expansion of C-MAP
ALBANY, N.Y.—The Professional Insurance Agents of New York State Inc., applaud Gov. Kathy Hochul for signing two pieces of legislation into law that would expand the insurance marketplaces regarding weather-related events: parametric insurance and the expansion of eligibility for the Coastal Market Assistance Program. These bills were top legislative priorities for PIANY for the 2024 […]
NAILBA Announces Winners of 2024 ID Twenty Awards, Celebrating 20 Industry Innovators and Trailblazers
The National Association of Independent Life Brokerage Agencies (NAILBA) has unveiled the 2024 ID Twenty Award recipients, a distinguished cohort of industry leaders who exemplify excellence, innovation, and an unwavering commitment to advancing independent distribution. These honorees have redefined the insurance landscape with their visionary strategies, groundbreaking solutions, and dedication to progress. “NAILBA proudly recognizes […]
Ivans Issues Annual Agency-Carrier Connectivity Trends Report
Survey indicates continued demand from agents for a more technologically connected insurance ecosystem despite carriers craving personal interactions Ivans® has revealed the 2024 findings of its annual agency-carrier connectivity report, Agency Digital Technology Adoption Trends. The report highlights the adoption of digital technology by agencies and the opportunity to align digital initiatives between carriers and agencies for […]
AssuredPartners Sold to Arthur J. Gallagher & Co. for $13.45 Billion
Sale is the Culmination of Successful 13-year Relationship Between GTCR and AssuredPartners that Began as a Leaders Strategy™ Partnership with Insurance Industry Veteran Jim Henderson GTCR, a leading private equity firm, announced that it has signed a definitive agreement to sell AssuredPartners (“Assured” or the “Company”), a leading independent insurance broker, to Arthur J. Gallagher & Co. […]
American Transit Insurance Company Files Over $450 Million Insurance Fraud Case Against Over 180 Defendants
American Transit Insurance Company (ATIC), a leading commercial automobile liability insurance provider with specialization in the taxi and for-hire vehicle sector, filed a lawsuit seeking more than $150 million in compensatory damages (over $450 million in trebled damages), as well as punitive damages, from over 180 defendants in the New York and New Jersey area. […]
Celebrities Boost Applied Underwriters Invitational Golf Tournament’s Record Charitable Contribution
More than 12,000 golfers across the U.S. participate in large-scale benefit competition leading to National Finals in May 2025 This year, the world’s largest national annual charity golf event heads toward its final rounds in early 2025 with 80 events completed and more than 12,000 golfers participating. The Applied Underwriters Invitational golf tournament has […]
