News

Hurricane Ian is expected to impact rates as capacity is restricted even further in Florida and other wind-exposed coastal states.

The Big “I” successfully advocated for the Financial Crimes Enforcement Network (FinCEN) to modify a definition that would have added new restrictions to certain state-licensed producers.

Applied Systems hosted Applied Net 2022 this week in Nashville, Tennessee, covering product updates and including a keynote presentation from Mike “Coach K” Krzyzewski, former Duke and Team USA basketball coach.

The Federal Advisory Committee on Insurance (FACI) members heard a variety of presentations and discussed several issues that are top of mind for regulators, policymakers and agents.

Independent agent carrier satisfaction increased for the second consecutive year in 2022, recovering from a pandemic-related decline in 2020.

The U.S. Senate passed legislation funding the government through Dec. 16, reauthorizing the National Flood Insurance Program (NFIP) and including the Big “I”-supported “Hermit’s Peak Fire Assistance Act.”

The Trusted Choice Relief Fund is available to provide financial assistance to insurance industry personnel impacted by Hurricane Ian.

The hearing highlighted the significant increase in wildfire risk over the last several years.

The study by J.D. Power shows that the increase in auto premiums is dragging down the overall satisfaction of policyholders and hurting retention rates of bundles.

The final rule redefines third-party marketing organizations to include individual agents and brokers, who will now be subject to new requirements.