Industry News – Page 85 – Insurance Agents & Brokers

Baltimore Highlights NFIP Premium Discounts

Representatives of the Baltimore Department of Planning provided the following reminder for IA&B members:Baltimore City wants to remind all insurance agents and brokers that properties purchased in Baltimore City’s Special Flood Hazard Area (SFHA) with federally backed loans are required to have flood insurance. Baltimore City participates in the Federal Emergency Management Administration’s Community Rating […]

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NFIP Extended for One Year

Industry News, Maryland News, Political Advocacy / By David Brener

With the National Flood Insurance Program (NFIP) facing expiration last week, President Trump signed into law legislation to extend the program for another year, through Sept. 30, 2021. This extension was part of a broader measure to keep the federal government funded through Dec. 11. Since the NFIP originally came up for renewal three years

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Appeals Court Grants Stay for Governor’s Shutdown Orders

Industry News, Pennsylvania News, Political Advocacy / By David Brener

As a reminder, a U.S. District Court in Pittsburgh last month struck down some of Gov. Wolf’s COVID-19 shutdown orders as unconstitutional, including the business closure and stay-at-home orders (which already have been suspended), as well as the 25-person indoor and 250-person outdoor gathering limitations.Gov. Wolf filed an appeal and last week was granted a

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PA Overtime Reg in Effect

Industry News, Political Advocacy / By David Brener

Changes to Pennsylvania’s overtime eligibility standards went into effect Oct. 3 after a lengthy regulatory review process. As a reminder, the now final regulation will gradually raise the threshold to potentially qualify for overtime exempt status to $875 per week ($45,500 annually) in October 2022, with automatic adjustments to the salary threshold thereafter.Please note: Pennsylvania’s

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Ransomware Incident Offers Cautionary Tale

Delaware News, Industry News, Maryland News, Pennsylvania News, Products & Services / By David Brener

Late last month hackers attacked insurance broker Arthur J. Gallagher & Co. (to include claims unit Gallagher Basset). The ransomware incident forced the firm to take its global systems offline and turn to outside cybersecurity professionals for help. Ransomware attacks increased almost 50% between the first and second quarters of 2020, according to a recent

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Federal Judge Rules Shutdown Orders Unconstitutional

Industry News, Pennsylvania News / By David Brener

A federal judge in Pittsburgh this week struck down some of Gov. Tom Wolf’s COVID-19 shutdown orders as unconstitutional, including the business closure and stay-at-home orders (which already have been suspended), as well as the 25 person indoor and 250 person outdoor gathering limitations which are still in effect. The ruling stems from a civil

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