Maryland News

IA&B Testifies in Support of COVID-19 Immunity Bill

As state lawmakers begin considering numerous pieces of legislation addressing the pandemic, IA&B this week went on record in support of Senate Bill 210, a bipartisan bill which would provide limited immunity from COVID-19 related lawsuits. Your IA&B government affairs team submitted testimony in advance of Tuesday’s bill hearing in the Judicial Proceedings Committee supporting […]

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New York to Go Paperless for Disability Policies

Licensees conducting business in New York should expect to receive notification directly from the New York State Insurance Fund (NYSIF) that, effective Feb. 28, 2021, it plans to discontinue its practice of mailing paper copies of New York State Disability Benefits Law (DBL) insurance policies and bills to insurance agents/brokers. It is IA&B’s understanding that

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Review Latest HR Updates

Take note of recent HR-related news, stemming from governmental mandates and case law. The following are documented as bulletins in our online HR resources. Federal Bulletins FED #109 – Remote I-9 Form Verification ExtensionFED #110 – IRS Extends Form 1095 Distribution Deadline to March 2FED #111 – 2021 Wage Cap Rises Modestly for Social Security

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FHA Proposes Private Flood Insurance Option

The Federal Housing Administration (FHA) last week published a proposed rule which would allow consumers the option to purchase private flood insurance instead of insurance through the National Flood Insurance Program (NFIP), when flood insurance is required by the FHA. Specifically, these changes would allow lenders to begin accepting private flood insurance policies for single-family

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COVID-19: FFCRA, Other Employer Considerations

As the number of COVID-19 cases rise, member agencies are reporting circumstances where an employee tests positive – or is exposed to (and possibly living with) someone who has COVID-19. Under either scenario, employers’ responsibilities under the paid leave provisions of the Families First Coronavirus Response Act (FFCRA) may come into play.For employers with fewer

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COVID-19 Disrupts Professional Liability Market

The events of 2020 “have put considerable added pressure on professional liability insurers,” according to AM Best. The agency just released Best’s Special Report, “Professional Liability Insurers Navigate Uncertain Terrain Amid a Pandemic,” which included a survey of underwriters.Per AM Best’s announcement, results from the survey include: Two-thirds of respondents placed the severity of COVID-19

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How to Comply with New PA Training Requirement

Meet Pennsylvania’s new annuities suitability training requirement with ease during our live, four-hour Annuities – Consumer Protection and Suitability webinar. Filed for 4 hours of Annuity CEs in Pennsylvania, Maryland, and Delaware, this webinar will be offered:Monday, Dec. 7 | 9:00 AM – 1:00 PM Register About The New Requirement As previously reported in Agent

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Who Do You Represent in Each Transaction?

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

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Travelers Cyber Survey Finds Businesses Vulnerable

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

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