News

Steve Dreyer, who took the helm of the Federal Insurance Office in June, is stepping down effective Friday. Steven Seitz, FIO deputy director, will become acting director until a permanent replacement is named.

This week, the Big “I” led a group of 26 organizations in sending a letter to congressional leadership urging immediate action to reauthorize the NFIP before it expires on Nov. 30.

InsurPac, the Big “I” political action committee, distributed $2,060,500 to a total of 288 federal campaigns, winning at least 245 of them for an 85% victory rate.

As the dust settles on the 2018 midterm election, agents across the country may be wondering how the new balance of power in Congress will affect their businesses.

Last week, the Big “I” testified at a Department of Labor hearing designed to assist the DOL’s efforts in updating federal overtime regulations.

As a result of the record storm surge, flooding extended well beyond FEMA’s designated Special Flood Hazard Areas into territories where purchasing flood insurance is not mandatory.

During the 2018 Applied Net conference, Applied Systems announced a nine-figure minority investment from CapitalG, the growth equity investment fund of Google parent company Alphabet, Inc., aimed at supporting digital innovation in the insurance industry.

Recently, Travelers announced a new collaboration with Amazon to create the insurance industry’s first digital storefront, offering smart home kits and homeowners insurance at discounted prices.

Reflecting little change from the second quarter of 2018, third-quarter composite rates for commercial and personal lines were up +2.5% and +2%, respectively.

Yesterday, Congress passed the Disaster Recovery Reform Act, a new law aimed at improving America’s approach to disaster resilience.