Gerald F. Hemphill, CIC, LUTCF, of Richmond, Virginia, was installed as president of the National Association of Professional Insurance Agents at the organization’s board of directors meeting in San Diego, California on September 22, 2022. Hemphill was sworn in alongside four other national officers: Richard A. Savino, CIC, CPIA, of Warwick, New York, President-elect; Ariel… Continue reading Hemphill Installed as New President of PIA
Author: Annie George
2022 Agency Universe Survey: Number of New Agencies Increased
According to the 2022 Agency Universe Study, the number of independent insurance agencies has increased, and business conditions for agencies remain favorable. While the majority of agencies reported revenue growth, the percentage is lower than in the previous 2020 study. Future One, a partnership between the Big “I” and leading independent agency firms, has released… Continue reading 2022 Agency Universe Survey: Number of New Agencies Increased
Louisiana Department of Insurance Approves January 2023 Rate Increase for Citizens
Louisiana Citizens’ request for a 63% rate increase on its residential property insurance policies beginning January 1 was approved by the Louisiana Department of Insurance. Citizens’ current policyholders will not be affected by the rate increase until they renew their policy after that date. Louisiana law requires Citizens to charge at least 10% more than… Continue reading Louisiana Department of Insurance Approves January 2023 Rate Increase for Citizens
Insurance Agents to CA Commissioner Lara: Lift Auto Rate Moratorium
Every day, insurance agents work directly with California consumers, many of whom are struggling financially. They are uniquely placed to discuss the current state of the industry as well as the impact of Insurance Commissioner Lara’s decisions on California consumers. Consumers are now complaining to agents, and they are forcing them to act. Commissioner Lara’s… Continue reading Insurance Agents to CA Commissioner Lara: Lift Auto Rate Moratorium
DOJ Reaches Agreement in Discrimination Case Against Architect of Pennsylvania Senior Living Facilities
J. Randolph Parry Architects P.C. (Parry) has agreed to settle a federal lawsuit alleging that it violated the Fair Housing Act (FHA) and the Americans with Disabilities Act (ADA) by failing to design and construct senior living facilities that are accessible to people with disabilities, according to the Justice Department. Parry will pay $350,000 to… Continue reading DOJ Reaches Agreement in Discrimination Case Against Architect of Pennsylvania Senior Living Facilities
Measured Analytics and Insurance Launches AI-Powered Excess Cyber Coverage for SMBs
Measured Analytics and Insurance, the industry’s leading AI-powered cyber insurance provider, has announced its intention to enter the excess cyber insurance market in order to provide more capacity in the cyber coverage marketplace. Measured’s excess policy was built in partnership with brokers, based on their valuable feedback,” Nick Little, Head of Insurance, commented, “best-in-class underwriting… Continue reading Measured Analytics and Insurance Launches AI-Powered Excess Cyber Coverage for SMBs
JP Morgan: Munich Re & Swiss Re Likely to Have Largest Share of Ian Losses
Based on RMS’s $67 billion estimate of Hurricane Ian losses, JP Morgan believes Munich Re and Swiss Re will have the largest market share of Ian losses. According to JP Morgan, RMS provided a range of $53-74 billion, with an additional $10 billion in losses for the National Flood Insurance Programme due to storm surge… Continue reading JP Morgan: Munich Re & Swiss Re Likely to Have Largest Share of Ian Losses
Instacart Reaches Settlement in Gig Worker Lawsuit
A settlement reached between the San Diego City Attorney’s Office and grocery delivery company Instacart will provide restitution payments for approximately 308,000 people who worked for the company in California and were incorrectly classified as independent contractors, according to city officials. According to the proposed settlement agreement between the City Attorney’s Office and Instacart, the… Continue reading Instacart Reaches Settlement in Gig Worker Lawsuit
Litigation Likely to Stall DOL’s Proposed Independent Contractor Rule
Experts predict that business groups will file lawsuits to delay or derail a rule proposed by the Biden administration on Tuesday that would limit companies’ use of independent contractors. The proposal by the U.S. Department of Labor drew immediate criticism from industry groups and caused stocks of companies that rely on gig workers, such as… Continue reading Litigation Likely to Stall DOL’s Proposed Independent Contractor Rule
Russell Duffey Named President of RPS Signature Programs
Risk Placement Services Inc. announced on Tuesday that Russell Duffey has been named president of RPS Signature Programs, its program administration division. According to RPS, Mr. Duffey is in charge of leading the division in marketing admitted and nonadmitted proprietary programs to niche markets that require specific underwriting and distribution. He will be based in… Continue reading Russell Duffey Named President of RPS Signature Programs