Legal and Compliance

Without this exemption, the act would have required agencies with fewer than 20 employees to file new reports on their beneficial ownership.

A short-term reauthorization of the National Flood Insurance Program through to Feb. 2, 2024, was included. The legislation also included an extension of the current Farm Bill through to Sept. 30, 2024.

The American Property Casualty Insurance Association (APCIA) annual meeting this week focused on several hard market catalysts and the outlook for 2024.

The Big “I” advocated for efforts to address the current property insurance crisis and its impact on consumers at a U.S. House of Representatives hearing.

AM Best downgraded 32 property & casualty companies’ credit ratings in the first half of 2023, including 21 personal lines insurers.

In the current hard market environment, independent agents are proactively shopping ahead for their clients more than they have in the past.

The act would protect Big “I” members from criminal and civil liability and provide clarity for transactions involving legitimate cannabis-related businesses.

The hearing investigated how outside capital is funding litigation against companies and agencies to achieve policy goals and examined the lack of oversight in this area.

The global average breach cost reached $4.45 million, with detection and escalation the most expensive component—indicating a shift toward more extended and complex investigations.

The deduction, which is scheduled to expire at the end of 2025, is heavily relied upon by many Big “I” members and their clients to expand their small businesses, hire more employees, and better serve their communities.