Monthly Archives: <span>January 2016</span>

My New Market

My New Markets is brought to you by Insurance Journal’s sister website: www.mynewmarkets.com Need a Market? Find it. FAST. Vacant Property Insurance Market Detail: US Assure‘s vacant structure product provides coverage for vacant residential and commercial structures and can be …

8 Industry Trends to Exploit for 2016

It is time to put on the thinking cap and roll up the sleeves to determine what needs to be done to put the firm in a great position for growth and profit in 2016. Those that like to be …

Second ‘Hottest’ Year on Record in U.S. Included 10 Major Weather Events in 2015

Last year was the second hottest on record in the contiguous United States, and included 10 major weather and climate events, such as droughts and storms, that each led to over $1 billion in damages, the National Oceanic and Atmospheric …

New York Legislators Examine Health Republic’s Failure

Hospitals and doctors told New York senators on Jan. 6 that they’ve got $200 million or more in unpaid bills because of last year’s financial failure of the insurance cooperative Health Republic, and they want the state to step in. …

New Jersey’s Residual Property Insurance Plan Raises Rates

The New Jersey Insurance Underwriting Association (NJIUA), the state’s residual property insurance plan, has received approval from the Department of Banking and Insurance (DOBI) to implement an overall rate increase of 2.7 percent. The increase went into effect on Jan. …

People – East

The Massachusetts Association of Insurance Agents (MAIA) announced that longtime President and Chief Executive Officer, Francis A. Mancini, will retire from the association at the end of 2016. MAIA has formed a search committee to oversee the process of selecting …

Vermont Licensed 33 New Captive Insurers in 2015

Vermont licensed 33 new captive insurance companies in 2015, according to data released by the Vermont Department of Financial Regulation. 2015’s new licensees bring Vermont’s overall total licenses to 1,062 with 588 active captive insurers. Vermont is the largest captive …

New Jersey Gov. Signs Certificates of Insurance Bill

New Jersey Gov. Chris Christie signed the Certificates of Insurance Act (S-3270/A-4705) into law on Jan. 11. The new law will govern the use of certificates of insurance, making it illegal to request the issuance of certificates that contain any …

China’s Insurance Marketplace Explained in California Symposium

Few people in the world could probably offer the sort of perspective on China’s developing insurance industry as economist Qixiang Sun. Sun is the dean of the school of economics at Peking University, and director of the China Center for …

Judge: Monkey Cannot Own Copyright of Selfie Photos

A macaque monkey who snapped clear, perfectly framed selfies that would have made the Kardashians proud still cannot own a copyright to the photos because it’s an animal, not a human, a federal judge in San Francisco ruled earlier this …