Pennsylvania Compensation Rating Bureau (PCRB) Circular 1753 spells out changes to underwriting guidelines. Effective April 1, 2021, the payrolls between shop fabrication and installation crews can be assigned different classifications, to recognize the differences in process and hazards between the two activities, with differences in loss costs ($1.73 vs. $2.41).The PCRB has not identified the […]
PCRB Addresses Scope of HVAC Code Read More »
When placing business through brokers, they may refer to themselves as the “agent” and you as the “broker.” And they’re probably right. The adoption of the Producer Licensing statute around 2002-2003 generated a lot of confusion around basic terminology in our industry. That confusion lingers because of the way we use these terms and can
Who Do You Represent in Each Transaction? Read More »
If a lender requests a copy of the Replacement Cost estimate for a property on which they will provide a loan, should you provide it? The best practice would be not to comply. If you choose to do so, however, we would encourage you to take some precautions, as indicated below.First, let’s look at the
When Lenders Request Replacement Cost Estimates Read More »
The 2020 Travelers Risk Index found that 22% of business leaders surveyed reported that their company had been the “victim of a cyber event.” This marks the highest percentage since Travelers’ 2014 inaugural survey. And while those surveyed reported increased cyber concerns, fewer of them took risk mitigation steps than last year. Read more about
Travelers Cyber Survey Finds Businesses Vulnerable Read More »
IA&B was honored to receive two Excellence in Insurance Education Diamond Awards for the fourth consecutive year. The awards recognize significant contributions made to insurance education for Big “I” members and the industry and honor association professionals for their accomplishments. The Big “I” presented the awards at a virtual ceremony held during this week’s Education
IA&B Recognized for Excellence in Insurance Education Read More »
With the open enrollment period fast approaching, the Pennsylvania Insurance Department last week announced the approved 2021 individual and small group ACA rates, highlighting a decrease in the individual market they attribute to the new state-based exchange and reinsurance program. In a recent press release, Insurance Commissioner Jessica Altman noted that all insurers currently offering
Updates on New State-Based Health Insurance Exchange Read More »
As businesses, including independent insurance agencies, bring staff back into their offices, the concept of asking employees to sign a COVID-19 liability waiver is becoming more common. What is a Liability Waiver? When we conjure up the concept of a liability waiver, we typically think of a pre-event liability waiver. This is an agreement between
COVID-19 Liability Waivers Read More »
The state House and Senate return to session on Monday, Oct. 19 for the final three scheduled voting days of the 2019-2020 legislative session (however, there is potential for a post-election, or “sine die” session). With limited time remaining, there are a number of insurance-related issues which may be considered by state lawmakers: ANTI-INDEMNIFICATION IA&B-supported
Insurance Issues at Play at State Capitol Read More »
Stay informed of the changing human resources landscape – and the case law, legislation, and regulations that alter it – by reviewing our HR Bulletins, a running tab of state and federal updates. Read more about these recent updates by visiting our HR Bulletin webpage and scrolling to the appropriate number. FED #24 – Joint
Human Resources News, Guidance Read More »
House Bill 108/Senate Bill 175, signed into law earlier this year, amends the Maryland Condominium Act, increasing from $5,000 to $10,000 the maximum amount of a condo association’s property insurance deductible that a unit owner is responsible for when the cause of damage to the condo originates in his/her specific unit. The condo association is
New Condo Law Increases Unit Owner Deductible Read More »
