The insurance industry is facing a critical talent shortage as experienced professionals retire and fewer younger workers enter the space. This issue has been exacerbated by the COVID-19 pandemic, which accelerated retirements and led many seasoned professionals to seek remote opportunities or new careers altogether. Paul Martin, CEO of Martin & Company, explains, “The pandemic created an opportunity for legacy insurance workers to explore remote work opportunities, forcing some workers to retire and leaving a gap in the industry.” Younger workers have historically been less attracted to insurance careers. In fact, only 4% of Millennials considered a career in insurance…

The South Carolina Department of Insurance (Department) has issued Bulletin 2024-06, which summarizes changes made during the 2024 legislative session pertaining to service contracts. The bulletin was issued and effective July 31, 2024. Read More

This data call applies to licensed casualty, fire, fire and casualty, county mutual (except industrial fire county mutual), Lloyds, and reciprocal companies that wrote premium in 2023 for any of the following lines of insurance in Texas: fire, allied lines, private crop, farm owners multiple peril, homeowners multiple peril, commercial multiple peril, inland marine, medical malpractice, general liability, products liability, private passenger automobile, commercial automobile, fidelity, or surety. Read More

The Florida Office of Insurance Regulation (OIR) is providing notice to insurers to file catastrophe claims data for Hurricane Debby on August 8 and August 9. Data must be submitted by 12 p.m. ET for each reporting deadline. Insurers are to report using the 2024 Simplified Catastrophe Reporting Form (CRF). The fillable 2024 CRF template must be downloaded from within the Insurance Regulation Filing System (IRFS). Read More

On August 1, 2024, the Utah Department of Insurance issued Bulletin 2024-9 concerning the new Reporting Requirements for Motorboat Insurance Policies imposed by Utah House Bill 184 enacted during the 2024 legislative session, effective January 1, 2025. Read More

Commissioner Kreidler has issued a data call to specifically identified insurance-related entities that may have provided property and/or liability coverage within the last five years to housing providers receiving housing trust fund resources and serving extremely low-income households. The worksheet and additional-requested information are due by close of business August 27, 2024. Read More

On July 24, 2024, the New Mexico Office of Superintendent of Insurance (OSI) issued a notice requesting property and casualty insurers adjusting personal property claims from the Salt and South Fork wildfires to provide certain relief to policyholders who suffered a total loss of their insured property. In addition, the OSI wants insurers to email a “Statement of Intent” indicating whether they implemented the wildfire relief to [email protected] by Tuesday, July 30, 2024. Read More