When a big property owner in Naples, Florida, recently tried to refinance some loans, the owner was surprised to discover that 31 properties had no insurance – despite having paid thousands of dollars in premiums. Late last month, investigators with …
For three years, undercover investigators watched as construction company owners in South Carolina met with a check-cashing company in parking lots, then walk away with bags of cash and fake insurance certificates, showing laborers were covered by workers’ compensation insurance. …
Insurer Nationwide has invested in an early-stage funding round for Certificial, an insurtech with a platform that issues real-time certificates of insurance and simplifies compliance management. Certificial’s $5.8 million Series A funding round also included lead investor IA Capital, a …
TrustLayer, developer of a proof-of-insurance risk management platform, has raised $6.6 million in seed funding from venture investors, insurance brokers and others. “Verification of insurance and business credentials is a pain point for millions of businesses and demands a solution …
International Business Machines Corp. announced on Monday a new blockchain network aimed at improving manual and cumbersome supply chain management. Supply chain management involves overseeing the flow of goods and services, such as tracking the movement and storage of raw …
The New York State Insurance Fund (NYSIF) is adding a new feature to its certificates of insurance. NYSIF said all NYSIF workers’ compensation certificates now include a QR (quick response) code, which can be scanned to instantly validate a certificate …
New Jersey Gov. Chris Christie’s administration issued a statement this week reminding insurance agents, contractors and other interested parties in the state that the new certificates of insurance law will take effect on April 10. The Certificates of Insurance Act, …
New Jersey Gov. Chris Christie’s office announced that the governor signed the Certificates of Insurance Act (S-3270/A-4705) into law Monday. The new law will govern the use of certificates of insurance, making it illegal to request the issuance of certificates …
The Massachusetts Division of Insurance (DOI) issued a bulletin to provide guidance on the implementation of Massachusetts General Laws Chapter 175L, concerning the issuance of certificates of insurance. Chapter 175L was signed into law on Jan. 7, 2015, by then-Gov. …
New York and Massachusetts in January became the latest states to enact laws to prohibit improper use of certificates of insurance. On Jan. 28, New York Gov. Andrew Cuomo signed into law a bill (A.9590/S.6545-A) that would standardize the practice …
