Feature

2022/ December

On NYDFS publishes proposed amendments to Cybersecurity Regulation for covered entities

Insurance Advocate Feature December 20, 2022

The New York Department of Financial Services (NYDFS) has recently published proposed amendments to significantly expand Cybersecurity Requirements for Financial Services Companies under 23 NYCRR 500 (the “NYDFS Cybersecurity Regulation). These developments are happening amid an outbreak of other, largely uncoordinated U.S. government initiatives to further regulate cybersecurity practices.   The proposed amendments would create a new subset of […]

2022/ November 20

One Insurer Views Ian Aftermath

Insurance Advocate Feature November 20, 2022

Centauri’s Preparedness in Claims Management and Client Service Proved Essential for its Insureds Following Hurricane Ian Devastation By the time Hurricane Ian was rated at Category 4 in its attack trajectory toward Florida’s west coast, one insurer had already reflected upon its protocols and its readiness during the expected onslaught, proving that preparedness and financial […]

2022/ Summer 2022

Mary Lanning Honored

Insurance Advocate Feature August 2, 2022

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.

October 7

Restrictive Covenants For Insurance Producers: A Primer On Legal Enforceability

Guest Author Feature October 7, 2020

As States continue to diverge in their interpretation and enforcement of restrictive covenant agreements, it is now more important than ever to ensure those agreements are drafted to conform with jurisdiction-specific laws. By Harris S. Freier, Esq MAIN TYPES OF RESTRICTIVE COVENANTS There are generally four main categories of restrictive covenants to consider in employment […]

September 20

Amid Uncertainty, Insurance Brokerage Firms Remain Resilient, Optimistic

Insurance Advocate Feature September 21, 2020

While the U.S. economy contracted in the second quarter of 2020 (Q2) at a rate not seen in 70 years, the insurance brokerage industry is a “shining star” with median organic growth of 4.4%, according to Reagan Consulting. This is the rate of growth for the six-month period that ended on June 30, compared with […]

September 20

Navigating financial services sector performance post-COVID-19

Insurance Advocate Covid-19, Feature September 21, 2020

Impact on personal and commercial auto insurance With people generally driving a lot less due to the pandemic, personal and commercial auto insurance carriers should expect to see a steady decline in premiums written for the next several quarters, and perhaps even for years. But given the lower traffic density, profitability could get a boost […]

September 20

Consumers Increase Shopping for Auto Insurance Despite COVID-19 Challenges

Insurance Advocate Feature September 21, 2020

Newly released TransUnion Insurance Shopping Annual Report uncovers impacts of COVID-19 on personal auto insurance Even with the ongoing economic impacts of the COVID-19 pandemic, overall personal auto insurance shopping rates in the first half of 2020 surpassed 2019 levels. The 2020 Insurance Shopping Annual Report from TransUnion (NYSE: TRU) found overall shopping rates were […]

June 22

4 in 10 Agents Say They’ll Continue Working from Home Post-Pandemic

Insurance Advocate Feature June 22, 2020

A Channel Harvest Research survey of U.S. independent insurance agencies reveals about half expect to make no permanent transition to working at home when the pandemic is over, and all staff would return to the office. However, 27% said at least some staff would continue to work from home, and 10% said that all employees […]

May 31

Risk Retention Groups Report Surplus Growth Despite Underwriting Losses

Guest Author Feature May 31, 2020

By Douglas A. Powell A review of the reported financial results of risk retention groups (RRGs) reveals insurers that continue to collectively provide specialized coverage to their insureds while remaining financially stable. Based on reported financial information, RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses. […]

February 24

The Necessary Boldness of the Entrepreneur

Steve Acunto Feature February 24, 2020

From time to time, you hear a speech or a presentation or read a letter that is worth repeating or reprinting. What follows is one such presentation. Recently on these pages, we presented remarks made by Steve Menzies, Chairman of Applied Underwriters, upon his receipt of Man of the Year of the State of Israel […]