2022
2022 Issues - Click to View
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Leaders Elected in Associations| IFNY Elects Howard Mills President
Insurance Advocate Cover Story
IFNY ELECTS HOWARD MILLS TO SUCCEED NICK PEARSON, ADDS JEFFREY SILVER, K.J. SINGH TO OFFICERS
LICONY ELECTS MIKE ZARCONE TO TOP POST
AND….MICHAEL CHANG IS IBANY PERSON OF THE YEARWork Works
Napoleon Bonaparte once said that to know a man you must understand the world he lived in a twenty years of age. In Eisenhower’s America and on and off since, work was ennobling, even if it was not glorious. There’s the story of a CEO visiting the Circus, passing the elephant’s cages only to come […]
Catalytic Converter Thefts on the Rise
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor Catalytic converters are a prime target of thieves. According to the National Insurance Crime Bureau (NICB), more than 1200 catalytic converters per month were stolen in the United States during 2020. Thefts increased almost 300% in the period from July 2020 to […]
Fraudulent Claim Voids Policy
Making a Claim for Loss to Personal Property Not Damaged is Fraud To successfully commit arson-for-profit the perpetrator needs a modicum of intelligence and some knowledge of insurance. When the perpetrator is incompetent, makes claim for property removed from the subject of the insurance before setting it afire, he or she will be caught and […]
Workers Comp Execs Identify Major Concerns
As it has annually for nearly two decades, NCCI recently surveyed more than 100 workers compensation insurance executives to hear what topics are top of mind for the industry. The results are not surprising, but the list of top concerns contains a multitude of interconnected complexities, particularly as it relates to the topics of: Rate […]
Test, Jab, Boost, Repeat
Joe Biden introduced his “new” plan to save us from the dread coronavirus. He will provide 500 million “free” tests (paid for by taxpayers or with borrowed money); 1,000 National Guard troops to overstressed hospitals; and more pressure to get vaccinated and boosted. According to the Kaiser Family Foundation, we would need 2.3 billion tests […]
Never Rely on a Certificate of Insurance
A Certificate Conferred No Rights Upon the Holder The plaintiffs relied on a certificate of insurance advising that Chipotle was an additional insured of a policy issued to a vendor. The insurer, RLI, proved that Chipotle was not named as an additional insured nor was it an additional insured by reason of a contract with […]
Liars Never Prosper
No Coverage for Loss at Unidentified Property Dignity Housing West is a California nonprofit corporation that provides low-income housing. Describing itself as a housing developer and listing its only premises as 200 square feet of office space, it applied for and received a commercial general liability insurance policy from Atain Specialty Insurance In Atain Specialty […]
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Adrienne A. Harris Confirmed to Lead the New York State Department of Financial Services
“I thank Governor Hochul for my nomination. I thank the New York Senate for their confidence and support in my confirmation to serve the great people of New York.
“I am honored to serve as the Superintendent of the Department of Financial Services. As the first African American woman to lead DFS, I am personally committed to working with all stakeholders to build a robust, fair and sustainable financial system, creating a better economic future for all New Yorkers.” –Adrienne HarrisAdrienne Harris
Insurance Advocate and its readers welcome Adrienne Harris to the post of New York Superintendent of Financial Services. Ms. Harris, whose years might imply otherwise, is rather a seasoned executive with experience in Washington and elsewhere in and around government. We trust that her experience t will translate well into the role of NY DFS’s […]
Katherine Papa Elected To Board Of National Association Of Public Insurance Adjusters (Napia)
Katherine M. Papa has been recently elected to the Board of the National Association of Public Insurance Adjusters (NAPIA), which is in its 70th year. NAPIA is comprised of licensed Public Adjusting firms, from across the nation, who are dedicated to promoting the education, certification, ethics, legal and legislative representation, and promotion of the public […]
RV Popularity Surges
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor One result of the COVID-19 pandemic was a marked increase in the popularity of recreational vehicles (RVs). Especially in the early days, limited availability of public restroom and restaurant facilities, restrictions on airline flights, and a reluctance to go to hotels made […]
February 2022: The New Comprehensive Insurance Disclosure Act
There is an old English proverb that says: “You don’t know where you’re going until you know where you’ve been.” On the afternoon of December 31, 2021, New York Governor Hochul signed into law New York Senate Bill “7052.” Called the “Comprehensive Insurance Disclosure Act,” (“CIDA”), it amends the rules that apply to civil litigation […]
An Experienced Adjuster Would Have Recognized That a Jeweler’s Inventory Exists to be Sold
Diminution in Value of Stock of Jeweler is a Direct Physical Loss Personal Property Not Damaged is Fraud Before the court was a Motion for Partial Summary Judgment filed by defendant Great American Insurance Company of New York (“Great American”) seeking dismissal of plaintiff’s claims of insurance coverage for consequential loss. In Nederland Jewelers LLC v. […]
The Great Resignation’s Impact on Local Government
Scores of workers are quitting and governments are scrambling to adapt By Liz Farmer The summer of 2021 brought on the Great Resignation with scores of Americans quitting their jobs—including in local government. Driven by COVID-fatigue, a desire for better pay, and employee retirements, more people have left state and local government in the last […]
Public Policy & No Insurance Defeats Negligence Claim
Leodis Sledge appealed the trial court’s grant of summary judgment to the City of Pine Bluff, Arkansas, et al on his claims of negligence that he asserted were the proximate cause of Leach’s death on April 16, 2020. FACTS On April 12, 2020, a large line of severe thunderstorms containing straight-line winds and tornadoes passed […]
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IFNY Free Enterprise Award to Steve Menzies
The 107-year-old Insurance Federation of New York, Inc. will present its 2021 Free Enterprise Award to Steven M. Menzies, Chairman of Applied Underwriters, and its Mary Lanning Public Service Award to William Frazier, founder of American Veterans Group, Wall Street’s first public benefit corporation. Honored guest, New York’s new Superintendent of Insurance, Hon. Adrienne A. Harris, will participate in the program. The Annual event, postponed from November, 2021 owing to the uncertainties of the COVID pandemic, will be held March 31st at 12:00 noon at the Union League Club on Park Avenue at 37th Street in Manhattan.
As we go to Press…
Ukraine’s top government economic adviser Oleg Ustenko has issued a statement that Russian forces have so far destroyed at least $100 billion worth of infrastructure, buildings and other physical assets. Ustenko, chief economic adviser to Ukrainian President Volodymyr Zelenskiy, told an online conference on economics that the war has caused 50% of Ukrainian businesses to […]
The American College Of Financial Services Appoints New Officers, Members To Board Of Trustees
John Howard and Salene Hitchcock-Gear, JD, bring over 60 years of experience and service to The College King of Prussia, PAThe American College of Financial Services announced a pair of newly elected officers to its Board of Trustees, with John Howard selected as the Board’s new chair and Salene Hitchcock-Gear, JD, voted in as vice […]
Varney Insurance Opens New York Office and Appoints Patrick Yannotta as Senior Vice President
Varney, an insurance agency covering commercial and private clients, has announced the expansion of its US business into the New York property market with the opening of its real estate head office in Manhattan and the appointment of Patrick Yannotta as Senior Vice President in Commercial Real Estate. Varney is a family-owned real estate insurance […]
Don’t Let Frozen Pipes Dampen Your Day
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor Winter cold and wind chill can lead to frozen pipes and water damage. These claims are fairly common and can be expensive. According to the Insurance Information Institute (III) each year water damage and freezing claims impact about one in 50 homeowners, […]
Actuaries: Some Estimates of Pandemic-Related Life Expectancy Changes Can Be Misleading
The American Academy of Actuaries has released a new public policy paper (reprinted below) and issue brief cautioning that clarification may be needed regarding estimated life expectancy showing significant decreases in light of the COVID-19 pandemic. “Reports of considerable decreases in life expectancy driven by COVID-19 may certainly garner attention, but they can potentially be […]
Help: My House is Falling Into the Sea
True Crime Story of Insurance Fraud Number 17 Career criminals are not the only people who perpetrate insurance fraud. The temptation has become so great that almost anyone who is given the opportunity, will try. Those who do not premeditate insurance fraud are called perpetrators of soft frauds. Most are small. Some are not. The […]
Go Directly to Jail, Do Not Pass Go
Chutzpah: Convicted of Insurance Fraud Appeals to Avoid Going to Jail Tarek Abou-Khatwa appealed his conviction of a complex, multi-year insurance fraud scheme. He previously asked the court to delay the start of his incarceration pending the outcome of that appeal. On January 31, 2022, the court denied his request, explaining that Defendant’s appeal did […]
How the Insurance Industry Can Solve our Nationwide Mold Problem
by Michael Rubino Most individuals are probably unaware of what insurance coverage they have for mold growth, and anything they do know is hazy at best. Unfortunately, by the time people start to consider what their mold coverage is, they’re facing a current colonization problem. It’s an unfortunate and generalized fact of modern-day life. While […]
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“Try It – You’ll Like It,”
say Consumers of All Ages When It Comes to Using Realtors, Insurance Agents, and Financial Advisors
Gen Zs May Be Harder to Convince, But Once They Work with Intermediaries, They’re Sold
It’s the age of the new and improved intermediary. Consumers of all ages are looking for more information and service, and they’re turning to realtors, insurance agents and financial advisors to get it, according to a new survey from Agentero, a digital insurance network. Of those who have used a realtor, insurance agent, or financial services professional, more than three- quarters say they would use them again.Fresh Thinking from the “Old Country”
Now and then, we come upon a straight set of thoughts are compelling clear and utterly awake – I do not mean “woke”. Here is an article that every agent in the country should read and pass along. It is written by Maria Rosa Alaggio, editor of the Italian insurance magazine, Societa e Rischio. SA […]
Benchmarking New York
Spending, Debt and Tax Levels for 2020 By BEN MOULTEN New York State residents pay some of the highest local taxes in the nation. To help New Yorkers compare certain basic fiscal measures for local governments, the Empire Center for Public Policy has calculated effective property tax rates and per-capita values for the spending, debt […]
National Ethics Awareness Month
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor March is designated as National Ethics Awareness Month – in the insurance industry and elsewhere. The value of a good reputation, for both businesses and individuals, cannot be overstated. It can take years to build a reputation and minutes to destroy it. […]
An Update on Changes to the New Comprehensive Insurance Disclosure Act and How Agencies and Brokerages Should Handle Requests for Information
On December 31, 2021, New York Governor Hochul signed into law Senate Bill 7052, called the “Comprehensive Insurance Disclosure Act”, (“CIDA”). It amends the rules that apply to civil litigation in New York as to the production by a party in a lawsuit of its insurance information. Although the Governor signed the Bill as drafted, […]
A Promise to Not Report a Crime is Unenforceable
υAfter he was convicted of workers’ compensation fraud, plaintiff Daniel Wilson filed a civil complaint alleging that representatives of his former employer, Southworth-Milton, Inc. (SMI), conspired to extort him while negotiating the settlement of his workers’ compensation claim. The defendants in the civil action included Attorney Teresa Brooks Benoit, who represented Wilson during settlement negotiations; […]
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Insurance Federation of New York Presents Free Enterprise Award to Steve Menzies
Mary Lanning Public Service Award to William H. Frazier
Hundreds applaud honorees and hear new head of DFS Hon. Adrienne A. HarrisNearly 300 insurance leaders convened at New York’s Union League Club on March 31st for the 107-year-old Insurance Federation of New York’s Annual Free Enterprise Award luncheon, considered by many to be the industry’s top award. This year’s honoree was Steve Menzies, Chairman of Applied Underwriters, who joins a long line of top US business leaders in receiving the accord. The very first annual Mary Lanning Public Service Award was given to to William Frazier, founder of American Veterans Group, Wall Street’s first public benefit corporation. Honored guest, New York’s new Superintendent of Insurance, Hon. Adrienne A. Harris, was interviewed during the program in a “fireside chat” format whereupon she viewed the DFS’s strengths and her own progress as a professional, among other topics.
Menzies Sees Bold Approach
Remarks by Steve Menzies at the Insurance Federation of New York Awards “I am deeply honored by this award, as its pedigree is exceptional. IFNY has cited leaders in insurance, banking, and finance, and then, has often gone, beyond the confines of these sectors into many fields of endeavor to find the exponents of free […]
IFNY: Stellar
Congratulations to the IFNY Board and its honorees for a beautiful, meaningful event as detailed on these pages. Steve Menzies’ remarks were eye openers, and gave attendees a sparkling reminder of the fact that the business is good and worthwhile. Bill Frazier got the Mary Lanning Public Service Award and the audience met new DFS […]
Big ‘I’ Names Chris Boggs New Vice President of Agent Development, Research and Education
The Big “I” is pleased to announce the promotion of Chris Boggs as the new vice president of agent development, research and education. Boggs succeeds Madelyn Flannagan, who will retire after 26 years of excellent service to the independent agency channel. Boggs joined the Big “I” team in November 2016. In his new role, Boggs […]
Applied Continues Niche Lines Expansion, Launches Applied Surety
Top surety executive, Joshua Betz, named to head Texas based global enterprise Applied Underwriters continues its niche sector expansion with the latest in its series of acquisitions and introductions, launching Applied Surety Underwriters to be based in Houston and serve a worldwide clientele. Since 2019, Applied has acquired companies and books of business in the […]
Insurance Fraud Report 2022: Real Time Data, A Crucial Asset In Fraud Fighting
A 2022 study by FRISS reveals the importance of real time insights from real time data to secure end to end protection from risks and fraud In a recent study by FRISS, the worlds most implemented AI powered fraud, risk and compliance solution provider for P&C insurance companies worldwide, the challenges and opportunities facing insurers […]
Safety Tips for Homeowners – Follow Your Nose
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor For homeowners, safety is of utmost importance. But many homeowners may not realize the warning signs in their homes, including the potential hazards indicated by foul smells. Helping clients understand hidden dangers, and the importance of proper home maintenance, is another value-added […]
New York State Economy Added 39,800 Private Sector Jobs in February 2022
New York State Economy Added 39,800 Private Sector Jobs in February 2022 According to preliminary seasonally adjusted figures released by the New York State Department of Labor, the number of private sector jobs in New York State increased over the month by 39,800, or 0.5%, to 7,888,300 in February 2022. By comparison, the number of […]
COVID Isn’t Over for You
by Jane T. Orient, MD Even if you have had COVID, and some restrictions in your area have been lifted at least temporarily, life is definitely not normal, especially in medicine. We live under an increasingly authoritarian regime, which falsely claims to “follow the science,” but is really based on fear. Warning: Much of what […]
It’s Not Nice to Claim One Fact to One Judge and Another to the Next
Inconsistent Pleadings and Argument Establish Coverage in One Case and Exclusion in Another The Delaware Supreme Court was called upon to determine whether a securities class action and a later follow-on action were related actions, such that the follow-on action was excluded from insurance coverage under later-issued policies. The Superior Court found that the follow-on […]
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Mary Lanning Honored
A beautiful tribute to Mary Lanning was held and atteended by scores of friends and associates – too many to identify but not to many to show! IFNY, ELANY, BOYS’ HOPE/GIRLS’ HOPE were the organizations. Funds were raised for the youngsters and a dedication to Mary, fittingly, proud and inspirational.
American Transit Insurance Company Resolves Significant Lawsuit Against Health Care Providers
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, […]
Of Signatures and Branding
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 […]
ELANY Holds 34th Annual Members’ Meeting; Panel Looks at Crypto and E&S Market
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. […]
NCCI Announces 2021 Workers Compensation Performance Metrics
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 launches Digital Labs initiative for the automotive enthusiast industry
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 […]
Finseca and NAILBA have Officially Merged
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. […]
Big ‘I’ Names Whitnee Dillard New Invest™ Executive Director
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 […]
Slate Of Officers and Board Members Announced at IMUAs 91st Annual Meeting
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 […]
The Benefits of Modern Building Codes
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, […]
HDI Global Leverages Verisk’s Mozart Form Composer® to Streamline Forms Management
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 […]
Verisk Expands Weather Intelligence
Insurers, first responders and supply chain logistics operators can now analyze the impact of severe weather more effectively with Verisk’s newly enhanced web-based weather analytics data solution. Verisk (Nasdaq: VRSK) is a leading global data analytics provider. Verisk’s Respond® mapping and analytics platform, Respond MAP™, enables users to combine valuable weather data with locations of […]
Report: The effects of inflation on insurance companies
Besides the glitches in global supply chains, the post-pandemic world has been facing a surge in energy prices following the resumption of economic activities. Such a situation has been compounded by the geopolitical scenarios triggered by the war between Russia and Ukraine, which is fuelling inflationary pressure worldwide. Moody’s has produced an analysis detailing how […]
Who Defines Disinformation?
Just after Elon Musk bought Twitter, promising more freedom, the Biden administration announces a new government agency to “protect” Americans and the world from harmful disinformation, especially about the COVID pandemic. It is called the Disinformation Governance Board, although some would call it the Minitrue, short for Ministry of Truth, the ministry of propaganda in […]
Coverage for Special Events
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor The pandemic changed how people think about hosting and attending events. Many were cancelled. Some, such as weddings, were downsized or postponed. Others were impacted by government regulations. In such situations, special event coverage, in addition to a standard homeowners or […]
US life insurance premiums exceed $200B for 1st time ever in 2021
U.S. life insurers saw their yearly direct life insurance premiums surpass $200 billion for the first time in history in 2021, according to an S&P Global Market Intelligence analysis of annual statutory statements. U.S. life insurers saw their yearly direct life insurance premiums surpass $200 billion for the first time in history in 2021, according […]
Estoppel Cannot Create Insurance Coverage
Cambridge Mutual Fire Insurance Company (Cambridge) sued seeking a declaratory judgment that it did not owe Defendants Terry Gaca and Janet Waymen (collectively, “Defendants”) a duty to defend an underlying lawsuit under the terms of their insurance policy. Thomas J. Frederick sued in Illinois state court, alleging Defendants maintained a boarding house and a parking […]
Lawyer Appointed by Insurer had a Duty of Zealous Representation
The law of unintended consequences is not statutory. No state or federal government has enacted it into law. No executive has signed the law. It is, rather, a law of the nature of people. It is an adage or idiomatic warning that an intervention in a complex system always creates unanticipated and often undesirable outcomes. […]
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55% of Organizations Have Cyber Coverage
A new report has hit the cyber cover situation head on revealing that: just 55% of organizations currently have cyber insurance, and of those, most policies have limits far lower than the cost of the average attack.
La Plus ça change
Independent agents again shown to place the majority of all property-casualty insurance written in the U.S. Independent agents place 62% of all property-casualty insurance written in the U.S., according to the Big “I” 2022 Market Share Report. The annual Market Share Report compiles and analyzes property and casualty premium data and provides insights for agencies […]
Imua Now Offering Members All Access To Remote Education
Inland Marine Underwriters Association (IMUA) announced that the association is elevating its professional development commitment to members and will provide “all access” to remote education events at no additional cost. In making the announcement, Kevin O’Brien, IMUA President & CEO, said, “As announced at our recent 91st Annual Meeting in Savannah, the IMUA Board of Directors […]
NAIC Passes Pet Insurance Model Act
Insurance Advocate In The Associations
The National Association of Insurance Commissioners (NAIC) members passed a Pet Insurance Model Act to establish appropriate regulatory standards for the pet insurance industry, which has annual premiums of approximately $2.8 billion in total in-force premiums in 2021 (up over 30.5% from $2.175 billion in 2020) and over 4.41 million insured pets across North America, […]
Hagerty Acquires Broad Arrow Group
Hagerty (HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, has announced that it has entered into a definitive agreement to acquire all outstanding shares of Broad Arrow Group, which specializes in the transactional segments of the collector car market. Earlier this year, Hagerty acquired approximately […]
Insuring Your Online Business
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor Lockdowns of the pandemic resulted in a significant and rapid increase in business being done online. Ibisworld.com estimates that 30% of business is now done over the internet. Selling online has risks and insurance considerations just as a brick and mortar store […]
No Bad Faith
Effective, Professional Arson Investigation Defeats Claims of Bad Faith Plaintiffs Donald Lemon and Candice Lemon (the Lemons) sued State Farm Fire & Casualty Company (State Farm) because it alleged it breached an insurance contract, that State Farm acted in bad faith and that the Lemons are entitled to an award of punitive damages. In Donald Lemon […]
Small Fraud Defeats Claim
Withdrawal of fraudulent portion of claim does not eliminate fraud Star Casualty Insurance Company appealed a summary final judgment and attorney fee award entered in favor of Gables Insurance Recovery, Inc., as assignee of Star Casualty’s insured, Ana Maria Correa. Star Casualty alleges that the trial court erred by granting summary judgment due to genuine […]
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Top Airports Identified
Air travel is a solid economic indicator, as global passenger volume ticks back up to 91% of pre-pandemic levels and labor shortages have caused a record number of flight cancellations, those sky-high satisfaction scores have once again fallen down to Earth. According to the J.D. Power 2022 North America Airport Satisfaction Study, overall satisfaction is […]
Independent Agents’ Market Share Highlights: 2022 United States P&C Marketplace
Members and partners of the Independent Insurance Agents & Brokers of America (The Big “I”) receive the annual Market Share Report free as a member or partner benefit. Information contained in this report is based on data through 2021.
This report graphically and numerically presents the United States property and casualty (P&C) insurance industry data from the independent agent’s perspective. We present key insights and charts from the report.
Hagerty to Acquire Broad Arrow Group
Hagerty (HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, has announced that it has entered into a definitive agreement to acquire all outstanding shares of Broad Arrow Group, which specializes in the transactional segments of the collector car market. Earlier this year, Hagerty acquired approximately […]
Risk Strategies Acquires Dickstein Associates Agency
Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced it has acquired Dickstein Associates Agency, a full-service retail insurance agency. Terms of the deal were not announced. Located in Tinton Falls, New Jersey and founded in 1965, Dickstein Associates provides comprehensive risk management solutions, including property and casualty insurance coverages […]
IABA Announces Recipients Of Lifetime Achievement Awards
The International Association of Black Actuaries (IABA) have selected Roosevelt Mosley Jr., FCAS, MAAA, CSPA and John Robinson, FSA, MAAA, FCA as their 2022 Lifetime Achievement Award Winners. As the International Association of Black Actuaries (IABA) ushers in its 30th year, it remains committed to increasing the number of successful Black Actuaries through strong leadership […]
Planet Governance | Chris Clark interviews Trevor Fetter
Chris Clark conducts interviews with leading corporate directors and subject matter experts for Stuart Levine & Associates, a global consulting and leadership development company. The Planet Governance™ interview series features the views of corporate directors and chief executives on critical issues from ESG and cyber-resiliency to succession planning and board composition. I was lucky enough […]
How to Recognize an Ambitious Insurer
by Rory Yates Since its earliest days, insurers have built their businesses around products designed to help people, businesses, and societies do more by reducing the burden of risk. Today an insurer can still win by offering good products. Tomorrow, however, insurers will only win by offering insurance experiences. Holistic experiences that include assistance, prevention […]
Chutzpah: Murder for Insurance Money Life Sentences Affirmed
Insurance Felon Fails to Get Early Release Because of Covid Courts across the United States have provided unvaccinated and ill prisoners compassionate release from jail ignoring the fact that the prisoner, if infected, might pass the disease to the public. Brian Stone, proceeding pro se, moved for compassionate release claiming he suffers from long Covid. […]
Small Fraud Defeats Claim
WITHDRAWAL OF FRAUDULENT PORTION OF CLAIM DOES NOT ELIMINATE FRAUD Small Fraud Defeats Claim WITHDRAWAL OF FRAUDULENT PORTION OF CLAIM DOES NOT ELIMINATE FRAUD Star Casualty Insurance Company appealed a summary final judgment and attorney fee award entered in favor of Gables Insurance Recovery, Inc., as assignee of Star Casualty’s insured, Ana Maria Correa. Star […]
