2016
2016 Issues - Click to View
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Pants on Fire!
Courtroom Drama as Judge Calls IME Doctor a “Liar,” Sanctions Attorneys, Threatens Criminal Prosecution Appellate Court Clears Doctor Bermejo v New York City Health & Hosps. Corp. 2015 NY Slip Op 08374 Decided on November 18, 2015 Appellate Division, Second Department At a personal injury trial, it came out during the cross-examination of the IME […]
Now I Know What That Means
As a new year’s gift to readers, note our redesign – not radical, but quite clean and easy to read. Compliments to Gina Balog for executing this. Our web presence has become greatly enhanced as well, for which we thank Claudia Palmira and her team. We have had a good run and will be adding […]
The Multiple Faces of Transparency
In December, Governor Cuomo vetoed two bills intended by their sponsors to strengthen New York’s freedom of information law, or FOIL. In his veto message the Governor stated: “While I appreciate the Legislature’s attempt to further transparency in government, these bills provide an unworkable, inequitable, and piecemeal approach to FOIL reform.” Sounds like the legislation […]
An Important Resolution for 2016
If I had one wish for 2016, it would be that independent agents make a resolution to better communicate their value. It seems like a simple thing but is actually quite involved and touches every aspect of their business. I say communicate instead of advertise or market because today’s consumer, especially millennials, don’t want to […]
Achieving the Right Balance…
Chris Paradiso
The Social Notebook
As more insurance agencies start to undergo a digital transformation, we will see an influx of money pouring into digital technologies. The aim is to somehow get like-minded with our insurance buyers and keep our agency in front of our clients. It can be intimidating for most agencies starting out in the digital marketing world. […]
McFadden is PIANY’s MetroRAP Industry Professional of the Year
Insurance Advocate In The Associations
GLENMONT, N.Y.—The Professional Insurance Agents of New York State (PIANY) will present Renee McFadden of Distinguished Programs with its Industry Professional of the Year award at the annual Metropolitan Regional Awareness Program. The event is being held at a new location—The Roosevelt Hotel on Thursday, Jan. 28. This award recognizes an individual from an insurance company, […]
Melchionni Honored By City & State Reports
ALBANY, N.Y., Dec. 22, 2015—Ellen Melchionni, president of the New York Insurance Association (NYIA), was selected as one of City & State Reports’ Responsible 100. Melchionni was honored at the inaugural Responsible 100 gala on Dec. 15, 2015 in New York, N.Y. The Responsible 100 honors New York’s 100 most outstanding corporate citizens across all […]
IFNY Elects Officers and Directors for 2016
New York, N.Y.,–The Insurance Federation of New York, Inc. (IFNY) has announced the election of its 2016 Board of Officers and Directors. IFNY, now in its 102nd year, is noted for its prestigious Annual Free Enterprise Award given to business leaders whose significant achievements embody the spirit of American free enterprise. The latest honoree was […]
Accident Must “Arise out of” the Use of Auto — Nexus to Injury Required
Automobile insurance is, by definition, limited to actions or events causing bodily injury or property damage arising out of or as a result of the operation, use, loading or unloading of a vehicle. It is not enough to find coverage that a vehicle was close to the site where the injury occurred and might have […]
Unsigned Peer Report In Motion Papers Is “Cured” By Signed Copy In Reply Papers
Appeal from an order of the Civil Court of the City of New York, Kings County (Johnny Lee Baynes, J.), entered August 12, 2010. The order denied defendant’s motion for summary judgment dismissing the complaint and granted plaintiff’s cross motion for summary judgment. ORDERED that the order is reversed, with $30 costs, defendant’s motion for […]
Who Has Constitutional Rights? Trump Raises the Question
Donald Trump’s suggestion to exclude Muslims from the U.S. has been called unconstitutional as well as offensive to many. Elected officials swear an oath to “preserve, protect and defend the Constitution of the United States.” But do they know what is in it? One thing that is not in it is the poem by Emma […]
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Bye-Bye Boomers, Hello Digital Natives
A look at who will be who in the insurance business over the years ahead Applied Systems and InVEST Release First-of-Its-Kind Report on Generation Z’s Expectations of the Insurance Industry University Park, Ill. – Applied Systems and InVEST today released a first-of-its-kind report that provides insight into Generation Z’s (Gen Z) view of the insurance […]
Waldorf Salad with Peppery Condiments
At the 20th annual Property/Casualty (P/C) Insurance Joint Industry Forum, held last week at the Waldorf, insurance leaders assured attendees that they have adapted successfully to the evolving risks brought about by dramatic technological changes. The Forum’s Experts Panel: A View from the Outside Looking In, was chaired by Charles M. Chamness, president & […]
Unhealthy Plans
On the first day of the new session of the NY State Legislature, the Senate Insurance and Health committees held a joint forum on the failure of Health Republic Insurance Company of New York, the largest of the non-profit health insurance exchanges created under the Affordable Care Act. State regulators shut down Health Republic last […]
Late Notice Problems are a Thing of the Past, Right? Wrong! ; More on Cyber Scams; ISO Tackles Airbnb, VRBO and Other Home-Sharing Services; Short Takes on Significant Topics: Loss Payee Clauses and Large Losses
Jerry Trupin
Exposures and Coverages
Late Notice Problems Are a Thing of the Past, Right? Wrong! In 2008, New York amended its insurance law to require an insurer to show prejudice before denying coverage for a liability claim when the declination is based on the insured’s late reporting of the occurrence. It’s common to say that New York’s late […]
Insurance Agency Websites Done Right
Chris Paradiso
The Social Notebook
This should be a well-known fact by now, but your insurance agency’s website is in place for one key purpose: to successfully market your agency in the digital world. Your website shouldn’t just be a templated presence or simple landing page, but instead should be a marketing powerhouse that leverages your brand, highlights your insurance […]
Gov. Cuomo Nominates Maria Vullo as Superintendent of NYDFS
Governor Andrew M. Cuomo today nominated Maria T. Vullo to serve as the Superintendent of the New York State Department of Financial Services. Ms. Vullo is an experienced senior litigator and manager, with more than 25 years of practice in business litigation and investigations. She is of counsel at Paul, Weiss, Rifkind, Wharton & Garrison […]
Setting Your 2016 Vision, Goal and Strategy
By: Kelly Donahue-Piro, Owner Agency Performance Partners We are here, it’s officially 2016! Time flies. It’s time to get serious about insurance agency goal setting and where you want your agency to go in 2016. If you don’t have a plan then you need to shake down the person who does! No matter if you […]
How to Lose an Insurance Coverage Case
Insured Has Burden to Establish Coverage Making a claim is not sufficient. It is the obligation of the insured first to establish that there is coverage for the loss that is the subject of the claim. It is never automatic that the insured, by simply presenting a claim, shifts the burden to the insurer. In […]
Coffey Elected Chair of New York Insurance Association
ALBANY, N.Y., Jan. 4, 2016—Steven J. Coffey, president and chief executive officer of Broome Co-operative Insurance Company (BCIC), was elected chair of the New York Insurance Association (NYIA) at the association’s Annual Meeting on Nov. 10, 2015 in Latham, N.Y. Coffey is serving a one-year term that began Jan. 1, 2016. Coffey has served on […]
Starting the New Year Right
I hope everyone had a good holiday season. I had one of ups and downs. At the beginning of the season, we needed to replace our air conditioning unit, so we called an HVAC contractor. Several men came, replaced the broken AC and tested the air ducts to make sure the correct flow took place. […]
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Taking Cover: How an Insurance Shortfall Leaves the Energy Sector Exposed
By Nick Dussuyer, Global Head of Natural Resources Industry, Willis Towers Watson Reprinted with the permission of Willis Towers Watson – http://www.willis.com/Documents/Publications/Industries/Energy/Taking_Cover_whitepaper.pdf Today’s energy companies face higher risks than ever, and many of today’s insurers have more capacity than ever and a hunger for new business. So why do so many energy companies still find it […]
Foreword
In Governor Cuomo’s State of the State Address and Executive Budget, the Independent Insurance Agents and Brokers of New York (IIABNY) found “there were no clear surprises in his proposed spending plan for 2016-2017” and noted that several insurance-related issues found their way into the rather lengthy document, notably a proposal that would expand the use […]
Off To Market
Michael Loguercio
Face to Face
As an agency owner, at what point do you decide that your firm is large enough to use technology to attract new business, and therefore you consider choosing to engage in the services of an internet marketing firm? Is it when you reach a certain premium volume? Or perhaps when you achieve a pre-determined number […]
The TriCounty Independent Insurance Agents Association donates $10,000 to the Ronald McDonald House of Long Island
Members of the TriCounty Board of Directors recently presented a check for $10,000 to the Ronald McDonald House of Long Island. The check represented proceeds from the TriCounty ‘Cabaret’ post-holiday party held on January 11th at K-Pacho Restaurant in New Hyde Park, New York. Peter Phillips, President of TriCounty said: “We were so impressed with the […]
Providing an Outstanding Customer Experience
Chris Paradiso
The Social Notebook
In today’s complex marketing age, “customer service” no longer exists. Yes, you heard me right. Customer service is out the window. There’s a good reason for that. It’s because the “customer experience” has now fully taken over the playing field. Companies used to compete to see who had the best customer service, but there’s so […]
Meet the Met
By: Martin Carus On January 12, 2016, MetLife issued a press release describing a proposed break-up of the company into two distinct parts: (i) US “retail business” (for the most part and excluding business in force) and (ii) other business. The former is what is to be embedded into a new company. Note that this […]
A Tale of Two Businesses
When I was very young many, many years ago there was a cartoon called the Rocky and Bullwinkle Show about a flying squirrel and a moose. There was a segment on the show called Aesop & Son patterned after Aesop’s Fables, which were fictional stories that had a truth built into them and ended with […]
Claim for Coverage for Consequential Property Losses
The original version of the California Code of Regulations, Section 2695.9. Additional Standards Applicable to Fire and Extended Coverage Type Policies with Replacement Cost Coverage provided: (a) When a loss requires repair or replacement of an item or part, (b) any consequential physical damage incurred in making the repair or replacement not otherwise excluded by the […]
Can Slip and Fall on Alleged “Old Ice” Defeat Summary Judgment Motion?
Burniston v Ranric Enters. Corp. The “Storm In Progress” rule holds that a property owner may not be liable for a slip and fall accident when rain, snow or ice is falling at the time of the accident, or that not enough time elapsed between the end of the storm and the accident in order […]
“Repeal and Replace”? No Thanks
By: G. Keith Smith, M.D. – http://SurgeryCenterOK.com Republicans are being urged to “repeal and replace” Obamacare (the so-called Affordable Care Act). No thanks. If you think O’Connellcare will be better than Obamacare, I would ask you to think again. If we are unlucky enough to experience the Republican version of Obamacare, I predict we’ll soon […]
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2016/ February 29/ Past Issues
Good Drivers Pay More for Basic Auto Insurance if They Rent Rather Than Own Their Home
Around the Nation, Most Major Auto Insurers Penalize Renters Despite Perfect Driving Records; Consumer Group Calls for Changes Washington, D.C. – Major auto insurance companies charge good drivers as much as 47 percent more for basic liability auto insurance if they don’t own their home, according to a new analysis of premiums by the nonprofit […]
2016/ February 29/ Past Issues
CFA Auto Insurance Study Shows a Highly Competitive Auto Insurance Market
CHICAGO, IL – The following statement by the Property Casualty Insurers Association of America (PCI) is in response to the recent study by the Consumer Federation of America (CFA) in auto insurance rating. The following statement can be attributed to David Snyder, PCI’s vice president of policy development and research. “It’s important for consumers to […]
2016/ February 29/ Past Issues
Making the Case for the Industry
In 1984, a small band of insurance communications professionals gathered in Phoenix for what we called the Insurance Communications Summit. I was a panelist, along with the likes of Sam Friedman, George Nordhaus, Ron Vinson and many others who, for the first time, were coming to the understanding that we actually had a shared mission […]
2016/ February 29/ Past Issues
Transparency or Tyranny?
Sometimes rules that are created to address a real problem have unintended consequences. Such is the case with New York’s Joint Commission on Public Ethics, widely known as “JCOPE.” Late in January, JCOPE voted for an advisory opinion to expand the definition of lobbying to include communications between public relations firms and journalists. So, if […]
2016/ February 29/ Past Issues
Insuring Electronic Data Losses — Time Limit to Start Suit
Jerry Trupin
Exposures and Coverages
Googling for a discussion of dependence on electronic data, I found this in, of all places, Popular Mechanics. “Vehicles are increasingly behaving like computers with wheels…In the past we would have called it the electrical system, but its mission has evolved way beyond simply moving dumb electrons. Collectively, these electronics are known as the Controller […]
2016/ February 29/ Past Issues
The Power of Response in the Social World
Chris Paradiso
The Social Notebook
I can’t stress enough how important social media engagement is for your insurance agency’s digital marketing strategy. There are many social media platforms you can use to broadcast messages. Facebook, Twitter, and Pinterest are among the most valuable. But if you want to attract and build a following that will help you and your insurance […]
2016/ February 29/ Past Issues
LICONY Celebrates its 48th Year
The LICONY 48th Anniversary Celebration Reception was held on Thursday, February 4, 2016 at the Mutual of America Headquarters on Park Avenue in New York City. The 160 in attendance represented LICONY membership; the New York Senate and Assembly; the NYS Department of Financial Services; other trade organizations; and industry friends.
2016/ February 29/ Past Issues
Missouri General Insurance Agency Selects Applied Epic as Digital Foundation for Business Growth
Missouri General Insurance Agency has selected Applied Epic to serve as their digital foundation to manage business growth for their property and casualty and benefits books of business. Applied Epic will also enable Missouri General Insurance Agency to manage their sales pipeline, forecast sales growth, and quickly identify cross and upsell opportunities via a single […]
2016/ February 29/ Past Issues
ACT and AUGIE Launch Insurance Digital Revolution Campaign to Advance Technology Adoption
The Agents’ Council for Technology (ACT) and the ACORD-User Groups Information Exchange (AUGIE) have announced a joint initiative, the Insurance Digital Revolution (IDR). The objective of the IDR is to drive adoption of digital tools that help agents, carriers and MGAs better serve their clients. This new industry advocacy program will build awareness of digital […]
2016/ February 29/ Past Issues
Veterans and The Insurance Industry: A Mission to Make a Difference
By: Merry Korn, Founder and CEO, Pearl Interactive Network At Pearl Interactive Network, we are proud that our company’s growth benefits a mission beyond our own. While our achievements are undoubtedly positive from a business standpoint, they also mean that more and more unemployed veterans are finding work. The staffing solutions world is uniquely satisfying […]
2016/ February 29/ Past Issues
It’s the Insured’s Fault
The Duty of an Insurance Producer is Limited in Illinois In the news today it appears clear that no one is willing to take responsibility for his or her own acts. If something goes wrong, if someone loses money, if a building is damaged, if insurance does not cover a loss, it’s someone else’s fault. […]
2016/ February 29/ Past Issues
Assault And Battery Exclusion Applies Where All Allegations Arise Out Of An Assault
Amato v National Specialty Ins. Co. In this declaratory judgment action, a plaintiff who was allegedly injured in an assault by an intoxicated restaurant patron sought an order declaring that the restaurant’s insurers had a duty to defend and indemnify the restaurant. Supreme Court ruled in favor of the insurers, and the Appellate Division affirmed, […]
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J.D. POWER: Soft Market Drives HO Claimant Satisfaction Down
Amica Mutual Ranks Highest in Overall Satisfaction among Homeowners Insurance Claimants For the first time in five years, customer satisfaction among homeowners filing a property claim has slipped, largely driven by declines in satisfaction with the total settlement and service interactions, according to the J.D. Power 2016 U.S. Property Claims Satisfaction Study(SM) just released. The […]
Deserving Credit
“The evil that men do lives after them, the good is oft interred with their bones.” Julius Caesar, Shakespeare Shakespeare’s quote applies to the insurance industry in the public and the media’s eyes all too often. So I thought that a few recent items point to “credit deserved” by insurance people. Leonard Scioscia has been […]
One for the Road
Michael Loguercio
Face to Face
So often we hear about “Driving While Impaired” (DWI), referring to how prevalent it has become, the injuries and deaths that are attributed to those who commit this act and the impact that it has on the offender’s life, the third party who may be involved, their families, and of course insurance. Although DWI (by […]
Email Marketing For the Independent Insurance Agent
Chris Paradiso
The Social Notebook
Email is a great marketing tool that’s been used for years now. But email marketing has an inherent problem: when you see an email hit your inbox from a big name corporation, do you open it? If the latest deals came up from Target, or if Progressive was emailing you to tell you that you […]
Focus and Finish: Gannon Insurance Agency
Is there a recipe for success? If you ask Steve Gannon, he would say “Yes!” “By a combination of hard work, focus and pure drive, anyone can succeed,” says Steve. “If you aren’t willing to go out on the weekends, take evening appointments when you first start out, you may not get to where you […]
Rep. Blaine Luetkemeyer to Address Big “I”
WASHINGTON, D.C.––The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) announced that Rep. Blaine Luetkemeyer (R-Missouri) will address the association’s Large Agent/Broker and CEO dinner on April 14 during the Big “I” Legislative Conference. “The Big ‘I’ is proud to announce that Rep. Luetkemeyer will be addressing our annual gathering of […]
Defeating the Zebra, Lemonade, Insurify and CoverWallet
Recently many independent agents breathed a sigh of relief as Google announced they were withdrawing from insurance. This news was definitely a positive and welcomed by everyone currently in the insurance business. This is not a time for independent agents to get lax or cocky! Although Google has decided to withdraw, that doesn’t mean they […]
Cyber Insurance: Are you sure you’re covered?
Share with Your Clients An agent presents advice for clients re: Cyber Cover By: Keith Fuller Protecting your balance sheet in the past meant making sure that your property and any additional liability your company has from its day-to-day operations are covered. The world has changed drastically and now you need to be aware of […]
CGL Provides No Cover For Building House on Someone Else’s Land
Insured’s Work On Property Was Clearly Excluded No insurance policy provides coverage for every possible risk of loss. When an insured builder built a house that encroached on the property of another, it sought coverage for the damages of the true property owner. The insurer provided a defense under a reservation of rights but refused […]
Abutting Owner and Next Door Owner May Be Liable for Defective Sidewalk
Sangaray v West Riv. Assoc., LLC Overruling prior precedents, the Court of Appeals holds that New York City’s sidewalk liability law does not only impose tort liability on the owner abutting the sidewalk where a trip and fall occurs, but the owner of the property next door may also be liable if that owner’s negligence […]
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New York State Will Provide Paid Family Leave and $15 Minimum Wage
Reprinted with the permission of Epstein Becker Green By: William J. Milani, Jeffrey M. Landes, Dean L. Silverberg, Susan Gross Sholinsky, Steven M. Swirsky, Nancy L. Gunzenhauser, Ann Knuckles Mahoney, and Alexandra Bruno Carlo On March 31, 2016, New York State’s governor and legislative leaders announced an agreement on the state’s budget for 2016-2017 (“Budget”). […]
No ordinary animal
Love the name: Gorilla Safety. Now comes an innovative new provider of software that fully automates all aspects of fleet and safety management, through its new mobile application and web-based dashboard. Gorilla Safety’s revolutionary mobile app is the first and only cloud-based solution that integrates capabilities necessary for managing short- and long-haul vehicle fleets of […]
Story Telling Connects – Are You Telling Your Story?
When I sat down to write this article, I gave quite a bit of thought to previous articles I have written. I also thought about the enormous amount of unsolicited advice being put out by many well-intended industry folks preaching to agents about all the changes they need to make if they want to stay […]
Insurance Marketing featuring Facebook’s New Feature
Chris Paradiso
The Social Notebook
One thing that I teach insurance agencies on a regular basis is that moving forward, digital marketing is going to be considered a traditional form of marketing, and not just in our industry, but in any industry. Part of your digital marketing strategy should include marketing via Facebook, seeing as it is the world’s largest […]
2016/ April 11/ Current News/ Past Issues
PRI Names Northwell Health Patient Safety “Best Practices” Award
Honorable Mention to: Atlantic Dialysis Management Services, LLC, College Point, NY; Brighton Surgery Center, LLC, Rochester, NY; The New Jewish Home, Sarah Neuman, Mamaroneck, NY ROSLYN, N.Y.—Physicians’ Reciprocal Insurers (PRI) presented Northwell Health, Lake Success, New York, its coveted Patient Safety “Best Practices” Award for 2016. Atlantic Dialysis Management Service, Brighton Surgery Center, and The […]
NAIC Attempt to be PBR Statistical Agent: A Bad Idea for Companies, Consumers, and Regulators
By: John R. Hurley NAIC staff located in Kansas City performs many valuable functions for state insurance commissioners and indirectly for insurers and consumers. Recently, staff reported that it was planning to assume the role of Statistical Agent (SA) for the collection and analysis of experience data and reports related to the implementation and operation […]
2016/ April 11/ Current News/ Past Issues
Arent Fox Secures Dismissal of Major Claim
New York, NY – Arent Fox LLP secured a victory for Fortress Re Inc.—the aviation reinsurance agency that infamously insured the four planes that crashed on 9/11—after a New York district court dismissed a breach of contract claim in late March. Insurance & Reinsurance partner Julius A. Rousseau and associate Lee A. Pepper have represented […]
2016/ April 11/ Current News/ Past Issues
Certificates of Insurance Act takes effect April 10
For construction project managers and others who need proof of insurance from contractors and vendors, important new protection is here. FLORHAM PARK, NJ (March 30, 2016) – This should weed out a few more cheats and liars. For everyone in New Jersey who manages construction projects and coordinates the services of multiple contractors, it can […]
2016/ April 11/ Current News/ Past Issues
Cuomo Announces Health Insurance for Victims
Governor Andrew M. Cuomo announced that insurers and HMOs offering comprehensive health insurance coverage through the New York State of Health individual marketplace are now required to allow victims of domestic violence, or spousal abandonment, to enroll in insurance plans at any time of the year. The New York State Department of Financial Services has […]
Citrix Joins Applied Systems Partner Program for eSignature
University Park, Ill.―Applied Systems has announced that Citrix has joined the Applied Partner Program to offer its eSignature solution, RightSignature, to North American insurance agencies and brokerages via integration with Applied Epic. Through this collaboration, agencies and brokerages can enhance their digital customer experience and improve productivity by automating paperless delivery of documents via eSignature capabilities directly from […]
MSO Announces Promotions
Glen Rock, NJ ̶- MSO, Inc. (The Mutual Service Office, Inc.) is pleased to announce the promotion of three employees to the position of Director: Melissa “Missy” Krepps, CPCU, API was named Director, National Filings for Insurance Programs and Senior Product Development Analyst. Ms. Krepps has been instrumental in the national rollout of the MSO […]
PIA National Names Augusto Russell 2016 Agent of the Year
WASHINGTON, D.C.—Augusto Russell, CIC, of Farmington, Connecticut, has been named the 2016 Professional Agent of the Year by the National Association of Professional Insurance Agents (PIA). Russell is a partner with May, Bonne & Walsh Inc. in Glastonbury, Connecticut. “This award is PIA’s highest honor,” said PIA National President Robert W. Hansen, Jr. “It recognizes […]
Shooting Arises out of Use of a Vehicle; UIM Cover Exceedingly Broad in Washington State
A truly stupid person fired a weapon from an automobile – claiming no intent to harm anyone but striking plaintiff Heidi Kroeber and injuring her. She claimed she was entitled to underinsured motorist (UIM) coverage because the shooting arose out of the use of the auto the shooter was in when he shot her. GEICO […]
Top Court Rejects Expert Opinion That Smell of Gasoline Proves Toxic Exposure Level For Fetus
Sean R. v BMW of N. Am., LLC Plaintiffs alleged that their baby was born with severe defects due to the mother’s exposure to gasoline fumes in their BMW caused by a defective fuel line hose. Plaintiff’s expert doctors wanted to testify that the mother’s reported symptoms, such as headache and nausea, were sufficient evidence […]
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Cyber Security Rules For Insurers
By Anna Murray, Author of The Complete Software Project Manager A few months ago, my software team received the following request from an insurance company executive: “Please create a form on my WordPress website so potential clients and others can upload scans of sensitive documents.” He thought it would be an improvement over the […]
Vrooom
The New York Insurance Association (NYIA) advises that from 2014 to 2015 motorcycle thefts in New York increased by 23 percent. According to a report from the National Insurance Crime Bureau (NICB), motorcycle thefts nationwide increased by six percent during the same time period, rising for the first time in ten years. New York State […]
Court Rules for the Insured in First Late Notice/Prejudice Case; Expand Contingent Bi/Dependent Properties Cover For Your Clients; Short Takes: Large Exposures
Court Rules for the Insured in First Late Notice/Prejudice Case In what may be the first appellate court case involving the 2009 New York law requiring the insurer to show that it was prejudiced by the insured’s giving late notice of an occurrence, the Fourth Judicial Department1 ruled in favor of the insured. The decision […]
Agency Website Metrics via Google Analytics
Chris Paradiso
The Social Notebook
“Celebrate what you accomplish, but raise the bar every time you succeed.” (Mia Hamm) I don’t care who you are, where you come from, whether you’re an individual or an agency, or whether you’re in or outside of the insurance space…No one, no matter who, has the ability to improve without accepting some form […]
Summer Agency Marketing Strategies
The slow, lazy days of summer are a great time to revisit your marketing strategy for your company. Over the wintertime, you have been going along doing the necessary things but you aren’t sure if it’s really working. These quieter days provide the best opportunity to revisit and start tracking what really matters. There are […]
Cuomo: Health Insurers to Provide Coverage for Maternal Depression Screening
Governor Andrew M. Cuomo announced that the Department of Financial Services has issued guidance to inform health insurers of their responsibility to provide health insurance coverage for maternal depression screenings. The guidance follows the United States Preventive Services Taskforce recommendations made earlier this year that group health plans and insurers offering group or individual health […]
UJA of New York to Honor Dominic Casserley, Charles H. Dangelo, and Richard Hershman at General Insurance Annual Dinner
NEW YORK, NY — UJA-Federation of New York will honor Dominic Casserley, president of Willis Towers Watson, Charles H. Dangelo, president and CEO of Starr Indemnity and Liability, and Richard Hershman, senior advisor at FTI Consulting, Inc., at its General Insurance Annual Dinner on Tuesday, May 31, 2016, at Grand Hyatt New York in Manhattan. […]
Sounding an alarm for the future
For decades, I worked with a local alarm company that knew my home alarm system inside and out. Early this year, I received a letter from a different alarm company based in Wichita, Kansas, informing me that it had taken over my local vendor and if I had any questions or issues, I could […]
PIA calls on agents to participate in longest-running Company Performance Surveys
Anonymous survey gives voice to agents who rate their companies on performance items GLENMONT, N.Y.—The Professional Insurance Agents of Connecticut, New Hampshire, New Jersey and New York State launched their Company Performance Surveys today. Each survey, available through June 24, 2016, gauges insurance producers’ views of the companies they represent in their respective states. Independent […]
Bill Wilson Honored with Jeff Yates Award
WASHINGTON, D.C. – The Independent Insurance Agents & Brokers (IIABA or the Big “I”) has awarded Bill Wilson, CPCU, ARM, AIM, AAM, with the Jeff Yates Lifetime Achievement Award, the highest honor the association bestows on a non-agent, for a lifetime of work in the independent agency system. Wilson is Big “I” associate vice president […]
New Hampshire’s Tom Minkler Honored with Woodworth Memorial Award
WASHINGTON, D.C. – The Independent Insurance Agents & Brokers (IIABA or the Big “I”) has awarded Tom Minkler, CIC, with the Woodworth Memorial Award, the highest honor the association bestows on one of its members, during the annual Big “I” Legislative Conference. Minkler is president of the Clark-Mortenson Agency in Keene, New Hampshire, and former […]
Insurance Digital Revolution Announces First Gold and Silver Sponsors
NEW YORK, April 21, 2016 – The Insurance Digital Revolution (IDR) announced its first sponsors, including Gold Level Sponsors: Applied Systems, Nationwide Insurance, and Vertafore; and Silver Level Sponsors, The Cincinnati Insurance Companies and NetVU. IDR is an industry campaign, organized by ACT, AUGIE and PIA, to drive technology adoption to better serve the insurance […]
IIS Forms Insurance Development Forum
New York, NY − IIS has announced the formation of the Insurance Development Forum (IDF), a collaboration between the United Nations, the World Bank Group and the insurance industry. The IDF aims to incorporate insurance industry risk measurement expertise into existing governmental disaster risk reduction and resilience frameworks and to build out a more sustainable […]
Damage, not Negligent Acts, is Occurrence
An Insured Can Only Kill a Child Once When a person is injured or killed as the result of the negligence of another, an insurer is obligated to defend and indemnify its insured up to the limits of liability of the insurance policy. Almost every liability insurance policy contains a per-occurrence limit of liability and […]
Zika: Crisis or Sentinel Event?
According to the World Health Organization (WHO), Zika is, like Ebola, a Public Health Emergency of International Concern. Now the U.S. Centers for Disease Control and Prevention (CDC) has stated that it is “clear” that the Zika virus causes a serious birth defect, microcephaly (small head). CDC publishes a scary interactive map of cases […]
No Witness, No Evidence, Nothing But a Theory Held Sufficient To Sustain Jury Award in Pedestrian Fatality
Oates v New York City Transit Authority A pedestrian was found crushed to death near a bus stop. Nobody saw or heard anything: not the bus driver, not the passengers, not anyone on the street. But the pedestrian’s estate sued the Transit Authority, claiming that the bus ran over her. A Bronx jury found the […]
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PIANY Honors Hourihan, Jarvis, Seeks to Inspire and Build Agents’ Business at LI RAP
Hundreds of professional, independent insurance agents from the Long Island and greater New York area gathered on May 4 at the sprawling Crest Hollow Country Club in Woodbury for a day of networking, tradeshow, education and ceremony at the Professional Insurance Agents of New York State’s Long Island Regional Awareness Program. Tradeshow Long Island RAP […]
Heck Honored. And just what is a “Stevie”?
Steve Acunto
Foreword, Insurance
At a time when personnel needs in the industry are becoming acute (with an estimated 18% loss among professionals through retirement, etc.), a sure 60% percent of people working in the U.S. insurance industry are women. The New York City Association of Insurance Women (NYCAIW) reminds us that only six percent of them hold “C” […]
Six Short Takes on Six Significant Topics
Jerry Trupin
Exposures and Coverages
We have a bumper crop of short takes on significant topics ranging from cat (catastrophe) bonds to hail this month. It’s going to be all the news that fits, we print. Cat Bond Issuance Sets First Quarter Record of $2.2 Billion Despite Fall in Interest Rates Cat bonds once again set a quarterly record in […]
Protecting Fifty Years of Child Health Progress
By Marian Wright Edelman It was a generation ago that Harry Truman said, and I quote him: “Millions of our citizens do not now have a full measure of opportunity to achieve and to enjoy good health. Millions do not now have protection or security against the economic effects of sickness. And the time has now […]
New Hampshire’s Tom Minkler Honored with Woodworth Memorial Award
WASHINGTON, D.C. – The Independent Insurance Agents & Brokers (IIABA or the Big “I”) has awarded Tom Minkler, CIC, with the Woodworth Memorial Award, the highest honor the association bestows on one of its members, during the annual Big “I” Legislative Conference. Minkler is president of the Clark-Mortenson Agency in Keene, New Hampshire, and former […]
The Maze Of Medical Pricing – How Much Does It Cost and What Are We Paying For?
By Gerard Gianoli, M.D. – http://earandbalance.net In a previous editorial, I commended candidate Trump’s proposal of price transparency for hospitals and doctors. It is astounding that this has not been an element of the GOP formula for healthcare reform until now and that an outsider had to bring it up. It is so obviously part […]
Who Is Your Customer?
How well do you know and understand your customer? Not only your current customer but the customer you are looking to add in the future. Are they similar in their wants, needs and motivations? What are their expectations? Meeting and exceeding customer expectations is the key to growing a successful agency today and going forward. […]
Sit on Your Rights & You Will Lose Them — Statutes of Limitation Serve an Important Function
In an attempt to clean up with damages after Hurricane Katrina after sitting on its rights for many years, Marion’s Cleaners, LLC, sued its insurer seeking indemnity from its insurer for damages that resulted from Katrina. In Marion’s Cleaners, LLC v. National Fire & Indemnity Exchange, Slip Copy, 2016 WL 952247 (March 14, 2016), the United […]
Was The Cure Worse Than The Disease? Homeowner Alleges That Tear Gas Remediation Chemical Made Her Sick
Kendall v Amica Mut. Ins. Co. A tenant in plaintiffs’ home had to be subdued by police using tear gas. Plaintiffs had an adverse health reaction to the tear gas residue and their homeowners’ insurer hired a remediation company which used a chemical to remove the tear gas. Plaintiffs then alleged an adverse health reaction […]
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Fitch: U.S. Commercial Insurance Market Performance Heading Downward
Underwriting performance for the commercial lines sector of the U.S. property/casualty (P/C) insurance industry is likely to deteriorate in 2016, according to a new report from Fitch Ratings. The decline follows a three-year underwriting profit for the industry with a combined ratio of approximately 94% in each of the last three years (2013-2015). “Catastrophe losses below historical norms contributed to strong 2015 […]
2015 Results: Premium Growth Slows, Combined Ratio Creeps Up for Property/Casualty Insurers
Private U.S. property/casualty insurers saw their net written premium growth slow to 3.4 percent in 2015 from 4.2 percent a year earlier, while their net income after taxes grew to $56.6 billion in 2015 from $55.9 billion in 2014, according to ISO, a Verisk Analytics (Nasdaq:VRSK) business, and the Property Casualty Insurers Association of America […]
Rank Sentiment
New York CEOs are not happy. They rated the Big Apple 49th out of 50 for the second year in a row, making it the second-worst state in which to do business, according to Chief Executive magazine’s annual Best & Worst States for Business survey. This survey gauges the sentiment of CEOs on a variety […]
What’s the Difference Between a Customer and a Client?
Before I share my opinion on this topic, I will admit to a brief Internet search. As I expected, Google revealed no shortage of customer service advice supporting what I have to say. One source opines that business interests consider the value of a client over a lifetime versus a customer who is forgotten after […]
Digital Access: Insurance Entities are “Not Keeping Up”
Insurance Websites Not Keeping Pace with Changing Customer Expectations, Says J.D. Power Study Insurer websites are not keeping up with customer expectations, with just over half of consumers surveyed saying they “definitely will” return to the site for their servicing needs, according to the J.D. Power 2016 Insurance Digital Evaluation Study(SM). The study,[1] now in its […]
Insurance Agency M&A in Q1 Breaks Record
Insurance agency mergers and acquisitions hit an all-time high for the first quarter of a year, with 109 reported transactions in the first three months of 2016, according to OPTIS Partners’ M&A database. The data covers U.S. and Canadian agencies selling primarily property-and-casualty insurance, agencies selling both P&C and employee benefits, and those selling only […]
How Clean is Your Agency?
We recently wrote a six-part blog series on how to Spring Clean your agency. It was amazing the feedback we received, as well as how many agencies shared the posts with their entire team. As it turns out, many agencies are, well, downright filthy! Just like that one junk closet you may have at home, […]
Dog Bites Accounted for More Than One-Third of All Homeowners Liability Payouts Last Year as Cost Per Claim Soars to More Than $37,000 Per Bite
National Dog Bite Prevention Week was May 15-21; California has Largest Number of Claims, Arizona Has Highest Cost Per Claim Dog bites (and other dog-related injuries) accounted for more than one-third of all homeowners insurance liability claim dollars paid out in 2015, costing in excess of $570 million, according to the Insurance Information Institute (I.I.I.) […]
A Primer on Reinsurance Pricing Strategy
“A Checklist for Optimizing Reinsurance Negotiation” By Larry Warren This article is written with the assumption that both the reinsurer and the direct writer would each benefit from fully exploring all appropriate assumptions and considerations directly and indirectly impacting reinsurance pricing. Such assumptions and considerations are discussed below. The reinsurer benefits by being able to […]
PIANY members meet legislators at Capitol to discuss insurance issues during Albany Lobby Day
ALBANY, N.Y.—Professional Insurance Agents of New York State Inc. members met with their legislators at their Albany offices during the association’s Albany Lobby Day, May 10, 2016. The PIANY members included: PIANY President Gene Sandy, CIC; PIANY President-elect John Parsons II, CIC, CPIA, AAI; PIANY Director Anthony Kammas; and PIANY past-President Richard A. Savino, CIC, […]
Expert Witnesses May Not Testify to Legal Conclusions
Unwise to Settle for Claimed Policy Limits Without Investigating All Available Coverages and Funds Litigation of serious injuries will often be sidelined by limited available insurance and assets to pay a judgment for the true value of an injury. Injured parties and their lawyers will determine the available coverages and will often settle for policy […]
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NYIA Annual Conference: Connect. Collaborate. Change.
Acting New York Financial Services Superintendent Maria Vullo Delivers First Address This year’s New York Insurance Association (NYIA) Annual Conference drew more than 250 insurance industry leaders to the heart of New York State in Verona, New York, June 1–3. The theme of this year’s event, Connect. Collaborate. Change., reflects the collegial nature of NYIA […]
Doughboys…
The New York Times recently listed the top-paid execs in the US. Impressive list, much of it predictable, some of it surprising. Several insurance CEOs and leaders were among the top earners. The numbers are quite high and quite impressive. We add here–you won’t see it anywhere else–that the shareholder, policyholder and public responsibilities are […]
Insurance is a People Business
There’s a big rush today by venture capitalists and Silicon Valley techies to turn the purchase of insurance into an impersonal, technology driven business. There couldn’t be a worse outlook for consumers! Technology is wonderful and a great way to speed up processing and offer 24/7 availability. It should never replace the professional guidance and […]
The TriCounty Independent Insurance Agents Association Installs Officers and Directors for 2016–2017
Albertson, N.Y.—New officers and directors took the helm on June 1 during the Long Island-based TriCounty Independent Insurance Agents Association annual installation dinner. The gathering, held at Chateau Briand in Carle Place, NY, set the TriCounty IIAA leadership for the 2016 through 2017 term. Close to 200 agents and brokers, company representatives, vendors and other members […]
Return on Customer Investment: How Some Global Insurance Companies are Embracing Disruption with Customer Inspiration
By Howard Kogan In a recent PwC study of global insurance CEOs, nearly two-thirds (59 percent) believe there are more growth opportunities within the insurance industry than three years ago. Yet just as many (61 percent) see more threats to the industry than they did three years ago. Why the duality? As one […]
Medical Errors, Hysteria, and Death
By Gerard J. Gianoli, M.D. Medical errors are taken very seriously by the medical profession. It starts early in training at M&M (Morbidity & Mortality) Conference. During M&M, each complication and death is presented before the entire department of students, physicians in training, and professors. The cases are scrutinized and criticized to see what […]
Melchionni Honored by NYIA
Verona, NY — The New York Insurance Association, Inc. (NYIA) honored William P. Melchionni III with the Chair’s Distinguished Service Award at the association’s annual conference on June 2 in Verona, N.Y. Melchionni is Deputy Head, U.S. Federal and State Government Affairs for American International Group, Inc. (AIG). “Bill volunteers countless hours to NYIA as […]
The Marketing Countdown: Five Tips to Transform your Agency in 2016
Chris Paradiso
The Social Notebook
Are you looking to ramp up your agency’s marketing? I sure am, and all the time. Improvement (which can sometimes be a form of change) is the driving force of agency growth, whether it’s through tracking metrics and figuring out what does and doesn’t work, or if it’s just coming up with a new game […]
Restaurant Not Liable for Consultant’s Punch to Nasty Customer
Villongco v Tompkins Sq. Bagels 2016 NY Slip Op 50778(U) Decided on May 18, 2016 Supreme Court, New York County Edmead, J. Edited by Lawrence N. Rogak A bagel store hired a retired fireman as a consultant. Plaintiff, a customer, said a very nasty word to a waitress and pushed her. The waitress immediately told […]
Intentional Acts Can’t Be Insured
No Fortuity – No Coverage Insurance, by definition, insures only against contingent or unknown events. To obtain coverage for defense or indemnity, an insured only needs to establish that the suit against the insured was fortuitous – accidental – unintentional acts. In Mid-Century Insurance Company v. Windfall, Inc., Mettle, LLC D/B/A Mettle Strategic Marketing Solutions, […]
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Vullo Confirmed Superintendant of NYDFS
When the New York State Senate confirmed Governor Andrew M. Cuomo’s nomination of Maria T. Vullo as Superintendent of the New York State Department of Financial Services (DFS), she gained responsibility for regulating more than 1,500 insurance companies and nearly 1,600 banking and other financial institutions. “I am honored to be confirmed to serve as […]
The Workman Years
LICONY’s Tom Workman Hailed as Life Insurers’ Effective Voice from 1999 – 2016 For the life insurance industry in New York, the years 1999 to 2016 are being remembered as “the Workman years,” during which time Thomas E. Workman served as president of the powerful state association of life insurers, generally represented by the insurers’ […]
How Good of An Agency Leader Are You?
Leadership is a big challenge in the independent insurance space. For many agency owners, you may have never worked anywhere but your family’s agency or maybe you have really only been led by a parent. The journey to go from agent to CEO can often be uncharted waters for many agencies. In most agencies, we […]
Death Care
Reprinted from AAPS News, Volume 72, no. 4, April 2016 In the post-Hippocratic, post-Christian, post-modern era, facilitating or even causing death is becoming a form of treatment, often called “end-of-life” care. This is now supposed to be voluntary, although the decision might be made decades prior to the event. There is a continuum, and it […]
PIANJ Elects LaPenna President
ATLANTIC CITY, N.J.—Donald F. LaPenna, Jr., of Cranford, N.J., president of Donald F. LaPenna Associates Inc., was elected president of the Professional Insurance Agents of New Jersey today at the association’s annual business meeting at Harrah’s in Atlantic City. An active member of PIANJ, LaPenna has served as first vice president (2015-16), vice president (2013-15), […]
Marine Insurance Requires Insured to Exercise Uberrimae Fidei
Insured May Not Hide Material Information From a Marine Insurer Marine insurance, because of the risks taken, applies the doctrine of uberrimae fidei (utmost good faith) strictly. In Fireman’s Fund Ins. Co. v. Great American Ins. Co. of New York, United States Court of Appeals, Second Circuit, — F.3d —- 2016 WL 2943139 (May 20, […]
Plaintiff’s Failure to File Note of Issue After 90-Day Notice Sinks Personal Injury Suit
Bender v Autism Speaks, Inc. Plaintiff tripped and fell on a public boardwalk during a charity walk for autism. She sued the autism charity for failing to provide a safe boardwalk. The suit was dismissed for failing to file a Note of Issue after defendant served a 90-day notice. Plaintiff moved to restore the suit […]
WC: No Reforms from Albany
By Martin Koles, M. Koles & Associates LLC Once again, New York State’s Legislative session ended without reform of the coercive and anti-competitive practices of the New York State Insurance Fund (NYSIF). As a director and former president of PIA and executive board member of CIBGNY, I can attest that the associations and their member agents […]
Record-Shattering Event at Harrah’s Makes PIA Annual Conference Biggest Ever
More than 2,000 agents and insurance industry professionals made history at the PIANJ/PIANY Annual Conference at Harrah’s Casino Resort in Atlantic City, N.J., June 5-7. The record-breaking event brought a flood of insurance professionals to the shore, to network and be seen at exciting and fun events; packing an expansive trade show; and attending […]
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Four New York Metro Areas Rank Among Lowest in the Nation for Vehicle Theft
It’s Getting Better! The New York State Department of Motor Vehicles (DMV) and the New York State Division of Criminal Justice Services (DCJS) announced that four New York metro areas were recently ranked among the lowest vehicle theft areas in the U.S. The National Insurance Crime Bureau’s (NICB) annual “Hot Spots” report found that in […]
Rough Patch Ahead
For property and casualty insurers, 2016 could be a tough year, according to a new report just published by S&P Global Market Intelligence, a leading provider of multi-asset class research data and insights. The firm’s 2016 U.S. P&C Insurance Market Report suggests that a combination of elevated catastrophe losses, unfavorable results in the private passenger […]
Non-Governmental Unemployment Insurance; Insurance “Gotchas”
Jerry Trupin
Exposures and Coverages
An Ideally Insurable Risk: Unemployment Insurance? A key insurance concept is “ideally insurable risk.” No, that doesn’t mean the old fire insurance chestnut about covering pig iron under water; it refers to the characteristics of a risk that make it suitable for insurance coverage. The characteristics are: Large number of similar exposure units […]
Great Customer Service is an Advantage in Every Industry, Especially Ours
Recently, I had a routine checkup at a new doctor’s office. After running typical blood work, the physician told me one of the tests seemed off and asked to repeat it. I went back to the lab and got stuck again. I was advised that my results would be posted on the “Doctor’s Portal,” […]
Your Image, Presence, and Agency Online
Chris Paradiso
The Social Notebook
Let me ask you something…when was the last time that you “Googled” your agency online? Or, while we are on the subject, when is the last time that you Googled your name, as the owner of the agency? It’s important that you understand how your audience perceives you online, and it should be no surprise […]
Uber & Insurance: How the Gig Economy Can Infuse Life Into a Legacy Industry
By Robin Smith You’re seeing it everywhere: old-school business learning new tricks. From Expedia’s acquisition of Homeaway, SAP’s buyout of Fieldglass, and the proliferation of Venmo, legacy industries are transitioning to digital platforms, offering personalized communications and incorporating sharing and gig economy aspects in their business models, too. As other industries are making this transition, […]
Agency Branding: Do You Really Know What It Is?
Agency branding…many people think they know what it is but in reality they aren’t sure. Even more importantly, many agents don’t fully understand the power and opportunity in building a brand. Just five years ago, having a better than average website was enough, but in today’s social world you really need to have a […]
Late Notice Defense Difficult to Prove
Notice Requirement Must be Clear and Unambiguous Every liability insurance policy contains a requirement that the insured report claims promptly. Each policy contains a variation on that requirement. Excess policies contain different reporting clauses than do primary policies. In Essex Insurance Company v. Village of Oak Lawn, United States District Court, N.D. Illinois 2016 WL […]
Ambiguity in Policy Voids Exclusion For “Insured vs. Insured”
Boro Park Land Co., LLC v Princeton Excess Surplus Lines Ins. Co. 2016 NY Slip Op 04684 Decided on June 15, 2016 Appellate Division, Second Department Edited by Lawrence N. Rogak A nursing home and its landlord were the insured and additional insured under a professional liability policy issued by Princeton. An employee of the […]
Making American Medicine Great Again
The Republicans are at it again: trying to tweak a bad idea, make it “bipartisan,” and set a flawed system more firmly in concrete. What we really need is a Republican reform—one that can restore the Republic, along with medicine. Yes, ObamaCare needs to be repealed—every last syllable. But that’s not all. To make […]
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Novel Idea: Safety Strategies — A Forward-Looking Entrepreneur Spreads the “Gospel” of Risk Management to Clients in Thoughtful Book
Insurance Advocate Cover Story
Adam Friedlander gets it. Communicating with clients on a level that treats them seriously enough to receive the thoughts of widely recognized trendsetters accomplishes a lot. Friedlander, a leader in Safety Group creation and management, has written a new book entitled: Safety and Workers’ Compensation Strategies To Unleash Productivity and Profits,” a series of […]
Milestones…
Readers of the Insurance Advocate are surely saddened by the passing of Jay Fishman, one of the industry’s legendary (a word that is way overused and misapplied, though not in this case) leaders. He epitomized high standards and commitment to the business and its good central purposes in serving the public. RIP. … On a […]
Umbrella Limits: How High Is Up?; Notice of Changes to Renewal Policies Required; Safety First?; An Exclusion You Don’t Want
Jerry Trupin
Exposures and Coverages
The federal government is suing a California home owner for $25,000,000 alleging that his negligence caused a 27,500-acre wildfire that took 16 days to contain, destroyed 20 buildings and forced thousands of residents to evacuate. The suit alleges that the cause of the fire was a faulty electrical wiring box that shot sparks, starting a […]
Artificial Intelligence in Digital Marketing
Chris Paradiso
The Social Notebook
Artificial Intelligence (AI) has made its way into digital marketing, and in more ways than one. We can see some forms of AI impacting our agencies every day online—yes, every day. How could that be possible? Simply put, technology is constantly advancing, and the recent advances in AI have allowed us to have more […]
Tell Your Story Often and Everywhere
The insurance marketplace is changing rapidly. New competitors are joining constantly, many looking to leverage technology and transact primarily or completely online. Existing direct response carriers like Geico, Esurance and Progressive Direct are ramping up campaigns to attract more clients. For many consumers, insurance is something they don’t truly understand and they hate paying for. […]
Four Signs You Have the Wrong Employee
Employees can be a great joy or a huge pain. In many agencies, “we work with the team” is the crux of conversation. It’s challenging to find good staff, so all too often we retain team members who are not a great fit or make our lives harder, because the idea of recruiting overwhelms us. […]
Visualizing the Claims Process
By Peter Zeinoun, Director Customer Support Products, LogMeIn Insurance companies today are often time measured on two key metrics: positive customer experience and operating cost. Achieving these two simultaneously is not always an easy task. Regardless of whether you are the agent fielding an insurance claim or the customer placing it, the claims process can […]
Beating a Person Unconscious Is an Intentional Act
No Coverage for Bar-room Attack I have, until I was blue in the face, reminded my readers that liability insurance only applies to fortuitous events–there must be an accident, an occurrence, an injury without intent to cause the injury–for insurance to apply. Regardless, injured people and their lawyers attempt to gain insurance proceeds by artfully […]
Late Notice Disclaimer Rejected by Intercompany Arbitrator; Court Upholds Award
Matter of Geico Indem. Ins. Co. v Global Liberty Ins. Co. of NY 2016 NY Slip Op 50595(U) Decided on April 8, 2016 Appellate Term, Second Department Edited by Lawrence N. Rogak In an intercompany arbitration, Geico sought loss transfer from Global. Global argued late notice and submitted only its disclaimer letter, which the arbitrator […]
Court Won’t Hear Doctor’s Argument That Hearing Impairment Hurt His Small Claims PIP Suit
Mathews v Allstate Ins. 2016 NY Slip Op 51174(U) Decided on July 28, 2016 Appellate Term, Second Department Edited by Lawrence N. Rogak Plaintiff medical doctor brought a PIP suit in small claims court. At trial, defendant insurer produced a PM&R doctor who testified that the testing done by plaintiff was not medically necessary, […]
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2016/ Past Issues/ September 26
Breach Blankets: Statutes in NY, NJ, CT Prescribe Notification Rules for Data Breaches
Survey of Data Breach Notification Statutes By James Westerlind, Arent Fox LLP INTRODUCTION Connecticut, the District of Columbia, Florida, New Jersey, New York, and Pennsylvania have enacted data breach notification statutes which apply to any business (including any insurance company or insurance producer) that acquires, owns or licenses computerized data that includes personal information of […]
2016/ Past Issues/ September 26
Charting Courses
Engagement Labs, a technology and data company, has ranked the top ‘Total Social’ insurance companies in the U.S. based on online and offline conversations. Here are the top five Total Social insurance companies in the U.S. as well as the top five Total Social insurance companies based on only offline and online performance. When analyzing […]
2016/ Past Issues/ September 26
Fooled by a Phisher; Business or Hobby; Hurricanes and Civil Authority Orders; Cat Bonds Come of Age
Jerry Trupin
Exposures and Coverages
Aqua Star, a New York fish importer, received an email supposedly from one of its suppliers, a fish exporter in China, instructing Aqua Star to change the bank information it used to wire payments to the supplier. Aqua Star’s employees complied with the request. Unfortunately, the supplier’s computer had been hacked and the instruction came […]
2016/ Past Issues/ September 26
Ethics is its Own Reward
This summer, I participated in a webinar on ethics, offered by PIA and taught by Steve Lyon. Steve is the cream of the crop when it comes to teaching continuing education courses for our industry. I always encourage those who want something more than just credit from their professional education to take PIA’s classes—but especially […]
2016/ Past Issues/ September 26
Metamorphosis
The independent agency business is going through a metamorphosis. The slow but steady caterpillar that served the public so well for so many years has become wrapped up in a cocoon of change and now must break out into an agile and quick flying modern day butterfly if it intends to survive. There are many […]
2016/ Past Issues/ September 26
What’s Your End-of-Year Plan?
Kids are back to school, Pumpkin Spice is everywhere and the leaves are changing. For our area it’s the most perfect time of year. While all may be distracted by football, we should be getting serious about how we want to end the year. What are all the little projects, goals and details you wanted […]
2016/ Past Issues/ September 26
Protecting Your Client — and Your Bottom Line — with a Crisis PR Plan
By Katherine Heaviside Here’s how it usually works. You’re finally enjoying a well-deserved day off when frantic coworkers begin sending you texts and emails about XYZ Company, your agency’s biggest client. There’s been a data breach impacting tens of thousands of customers. The company is all over social media and popping up on mainstream news […]
2016/ Past Issues/ September 26
Does Improving the Customer Experience Matter to Your Bottom Line?
Chris Paradiso
The Social Notebook
There are many traditional and non-traditional practices related to giving a great customer experience. Insurance companies are spending millions of dollars on studying what is working and what is not, but the million dollar question is this: how many independent insurance agencies are actually investing in a rewarding customer experience? My guess is not enough, […]
2016/ Past Issues/ September 26
Intentional and Wrongful Eviction Not Covered
A“Wrongful Eviction” May or May Not Be Intentional Liability insurance policies, under the personal injury cover, agree to insure against certain offenses, including the offense of wrongful eviction. In State Farm Fire and Cas. Co. v. Otten, Not Reported in N.W.2d 2016, Court of Appeals of Minnesota, WL 2946110 (May 23, 2016), was asked to […]
2016/ Past Issues/ September 26
Americans Unprepared for a Major Disaster
In the wake of the floods in Louisiana and as disaster season peaks, a national consumer survey commissioned by Trusted Choice® and the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”), reveals that many homeowners lack adequate insurance coverage, do not fully understand their homeowners policies and do not have enough […]
2016/ Past Issues/ September 26
Parsons Elected President of PIANY
GLENMONT, N.Y.— John C. Parsons II, CIC, CPIA, AAI, executive vice president of Parsons & Associates in Syracuse, N.Y., was elected president of Professional Insurance Agents of New York State Inc., at a meeting of the association’s board of directors today. Parsons is a third-generation professional independent agent, succeeding his father and grandfather as president […]
2016/ Past Issues/ September 26
PIANY Elects Officers for 2016-17
GLENMONT, N.Y.—Officers of the Professional Insurance Agents of New York State Inc. were elected for the 2016-17 administrative year at the association’s annual business meeting today. John Parsons II, CIC, CPIA, AAI, of Skaneateles, N.Y., was elected president. He is executive vice president of Parsons and Associates Inc. in Syracuse, N.Y. Fred Holender, CLU, CPCU, […]
2016/ Past Issues/ September 26
PIANY Names Holender Director of the Year
GLENMONT, N.Y.—Fred Holender, CLU, CPCU, ChFC, MSFS, of Williamsville, N.Y., was named the Professional Insurance Agents of New York’s Director of the Year at a meeting of the association’s board of directors today. Holender is director of administration for Lawley Service Inc., in Buffalo, N.Y. The award recognizes the hard work and dedication of a […]
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“Yates” Grates D&O Value
Implications Are Far Reaching Can D&O Insurance Protect Officers and Directors Against an Increasingly Aggressive Department of Justice? BY DAVID WOOD and JOSHUA B. ROSENBERG On September 9, 2015, the U.S. Department of Justice published a memorandum entitled “Individual Accountability for Corporate Wrongdoing,” authored by Assistant Attorney General Sally Quillian Yates, the product of a […]
In Focus
The St. Regis Hotel in New York was the site of the Insurance Division of Development Corporation for the Israel/Israel Bonds annual luncheon. Dave S. Hattem, senior executive director and general counsel of AXA Equitable Life Insurance Co., Douglas J. Hayden, president of Wright Public Entity, and Martin Minkowitz, Stroock & Stroock & Lavan LLP […]
Precious Metals Exclusion; Per Claim Deductible; Adjuster Has the Right to See the Damage; Fixing Federal Flood Insurance
Jerry Trupin
Exposures and Coverages
Precious Metals Exclusion Thieves pried open seven air conditioning units at Celebration Church and stole seven condenser coils. Stolen coils can sell for more than $1,000 each because of their copper content. Copper theft is big business. It’s estimated at almost a billion dollars a year, with theft from a/c units accounting for three-fourths of […]
Six Personal Branding Lessons Professionals Can Learn from Trump and Clinton
by Karen LeLand Despite having the two highest unfavorable uDespite having the two highest unfavorable ratings of any major presidential candidates in history, Donald Trump and Hillary Clinton have outlasted their competitors— and one of them is going to become the leader of the free world. What does success in the face of such highly […]
The Rise of Chatbots: Pypestream Brings Secure Mobile Messaging to Insurance Industry
by Donna Peeples Intelligent automation, or chatbots, is transforming customer service in the insurance industry. These bots offer customers new ways to ask questions, make purchases, and more within a messaging app on their smartphone or mobile device. Recently Pypestream, a leading business- to-consumer messaging platform, announced a partnership with Insurance Thought Leadership (ITL), a […]
10 Wake Up Calls on Social Media Marketing for Your Agency
Chris Paradiso
The Social Notebook
If you read the title of this article and thought to yourself, “My agency doesn’t need social media,” then I have some unfortunate news for you: you’re falling behind. For those of us already embracing the power of social media, I applaud you, because the world of marketing is going digital, and social media is […]
Rescission of PIP Policy Available for Fraud
The “Innocent Third Party Rule” Does Not Eliminate Right to Rescind When an insured obtains a policy of insurance by misrepresentation of a material fact or fraud, the insurer may rescind the policy in Michigan. However, when an innocent person is injured by the insured before the policy is rescinded, statutes and courts attempt to […]
Lemonade–A Fairy Tale with an Unhappy Ending?
By now you’ve probably heard of Lemonade, the so-called “peer-to-peer” insurance company offering home, condo and renter’s insurance in New York. It rolled out recently, touting itself as a new brand of insurance company designed to take the typical insurance company and turn it into a new hybrid that is highly automated, competitively priced and […]
EUO No-Show Denial Upheld: Sufficient Basis Existed for Demand
In the matter of the Arbitration between Fawzy Salama PLLC and State Farm Mutual Automobile Insurance Company The issues in this arbitration are the Applicant’s unpaid bills for evaluations and electrodiagnostic testing, denied by the Respondent based on the Applicant’s failure to cooperate for an examination under oath. The Applicant brought this arbitration proceeding to […]
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2016/ November 14/ Past Issues
Optimism: Independent Agents, P&C Insurers Juice-Up Tech Budgets
Independent principals and producers in the property and casualty (P&C) insurance space remain optimistic about the state of the industry and continue to expect growth in the coming years. Agencies are predicting growth in technology budgets in the next 12 months, though smaller agencies are more likely to focus these investments on maintenance of current […]
2016/ November 14/ Past Issues
The Sound of Broken Glass
Sometimes good things happen and you do not notice them until they hit you somewhere in the future. The U.S. House of Representatives has just passed H.R. 5143, the “Transparent Insurance Standards Act of 2016,” introduced by Rep. Blaine Luetkemeyer (R-Missouri). The Big “I” in Washington was quite pleased, as was this writer. The bill […]
2016/ November 14/ Past Issues
Getting Consumer Attention
While developing information for a producer mentoring and sales program, I realized prospecting is totally different today than it was when I was an independent agent. Like many things in our world today it’s changed because of technology. Even more importantly it’s changed because consumer attitudes and buying practices are different. Even many traditional baby […]
2016/ November 14/ Past Issues
The World of Social Media
Chris Paradiso
The Social Notebook
Social media, in today’s world, is an essential for all businesses to achieve marketing success. Whether you’re a large corporation, a small business, or a local mom-and-pop shop, social media is right for your business. It doesn’t matter the industry, nor the products and services your company sells or markets–social media is a powerful […]
Quality and Value Defined
The congressional echo chamber, on both sides of the aisle, constantly talks about the great reform fad: “payment for value” and “quality” care. And the Medicare version called MACRA passed nearly unanimously, with cheers from the marbled halls of the AMA tower. ObamaCare too constantly harps on “quality.” Politicians seem to think that payment […]
2016/ November 14/ Past Issues
Gun, Partner!
Michael Loguercio
Face to Face
As I have written so many times before, I am writing this article while sitting on an airplane…I guess this is my quiet time, with no text messages, phone calls or emails that need to be answered immediately! Well, times sure have changed since I began writing for The Insurance Advocate over eight years ago. […]
2016/ November 14/ Past Issues
Advertising Injury Requires a Fortuitous Loss
Defendant’s Business Saved by Brilliance of Insurer I have over the last 1700 posts to this blog advised against entering into a stipulated judgment and granting a viable defendant a covenant not to execute in the hope of a windfall judgment from the insurer who refused to defend and indemnify the insured. In Auto-Owners Insurance […]
2016/ November 14/ Past Issues
Chunk of Concrete That Fell Off Dump Truck Does Not Qualify for SUM Coverage
Matter of Ean Holdings LLC v Joseph Edited by Lawrence N. Rogak While driving a rental car, claimant was struck by a chunk of concrete that fell off a dump truck, crashed through his windshield and took out his left eye. He filed for UM arbitration and Enterprise Rent-A-Car moved for a stay. The Court […]
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2016/ November 30/ Past Issues
IFNY Honors Kandarian, Nigro
275 Gather at New York’s Historic Union League Club to Honor MetLife Leader and NYC’s Fire Commissioner More than 250 insurance leaders joined in the Insurance Federation of New York’s (IFNY) 102nd Annual Award Luncheon honoring Steven A. Kandarian, Chairman, President and CEO, MetLife, Inc., as he received the Federation’s 2016 Free Enterprise Award. New […]
2016/ November 30/ Past Issues
Insurance Industry Puts Best Foot (Feet?) Forward at IFNY and IICF Events
The Insurance Federation of New York’s (IFNY) 102nd Annual Award Luncheon honoring Steven A. Kandarian, Chairman, President and CEO, MetLife, Inc., and New York City Fire Commissioner Daniel A. Nigro drew 250 to the Union League Club. IFNY’s inaugural Public Service Award was given to Chief Nigro as a new way of the industry shoeing […]
2016/ November 30/ Past Issues
A Whole New, Dangerous World
Last month, I received a call at my house (Yes, my wife and I still maintain our house phone.). When I answered the phone, the person on the other end said, “Grandpa, this is John.” (I’ve changed his name for his privacy.) “John?” I responded. “It doesn’t sound like you.” My grandson, John, is a […]
2016/ November 30/ Past Issues
Top Five Agency Marketing Myths
All too often we find many misperceptions about marketing an insurance agency. Much more often we hear what doesn’t work than what does. The funny thing is in my life we have failed at many marketing campaigns but we don’t give up! Sometimes we find that if we make one change, it is the magic […]
2016/ November 30/ Past Issues
NYIA Regulatory Symposium Recap
The New York Insurance Association (NYIA) held back-to-back essential events for property and casualty insurance companies doing business in New York on November 1st and 2nd at the Century House in Latham, New York. The New York Regulatory Symposium held on November 1st provided attendees with an excellent opportunity to connect with new Insurance Division […]
2016/ November 30/ Past Issues
“Fed” Up: Sound and Fury…Signifying…What?
Shakespeare’s Macbeth, Act V, Scene V: “To-morrow and to-morrow creeps in this petty pace from day to day, to the last syllable of recorded time; and all our yesterdays have lighted fools the way to dusty death. Out, out brief candle! Life is but a brief shadow, a poor player that struts and frets his […]
2016/ November 30/ Past Issues
UIM Coverage Not Available for Driver’s Negligence
UIM Coverage Only Available When Insured Injured by a Third Party Uninsured Motorist (UM) and Underinsured Motorist (UIM) coverages are designed to provide indemnity to an insured who is injured by an uninsured or underinsured motorist’s negligence. It is not designed to supplement the liability coverage of the negligent person. In Simmons v. Geico Indemnity […]
2016/ November 30/ Past Issues
PIA Receives Second Consecutive Gold MarCom Award
Association’s magazine recognized in international awards competition GLENMONT, N.Y.—For the second consecutive year, PIA Management Services Inc. received a Gold Award in the “print media/association/magazine” category for its PIA magazine. The MarCom Gold Award is presented to entries judged to exceed the high standards of the industry. PIA magazine is a monthly, state-specific publication for […]
