News

Charles Symington, Big “I” president & CEO, has been recognized for his success on Capitol Hill in 2023.

Amidst forecasts that the property & casualty combined ratio will continue to deteriorate, the hard market and inflation continue to shape the independent agent psyche.

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.

Amazon announced that Amazon Prime members can now access low-cost primary health care services with One Medical, including 24/7 on-demand telehealth care.

Joe Rossi, CEO and president of Joe Flood Insurance Brokerage, was appointed chair of the Flood Insurance Producers National Committee, where he will represent the Big “I” and other producer groups.

With 40% of the agency principals surveyed older than 60 years old and 20% older than 65 years old, half of agencies will experience a major change of ownership in the next 10 years, according to the study.

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

The projection is worse than the 102.2 combined ratio predicted earlier this year, according to projections by the Insurance Information Institute and Milliman.

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.