California’s new labor law may have dire implications for insurance agents in the state. The law was enacted late last year and is designed to punish employers that misclassify workers in an attempt to receive discounts on their insurance coverage. The law itself does not make specific mention to insurance agents, but the language in which the law is written is very vague. Agents could easily fall victim to the law simply by providing employers with advice regarding employee classifications. The law allows the California Labor and Workforce Development Agency…
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Risk Management Agency pushes back deadline on crop termination, giving farmers more flexibility with their insurance coverage
The U.S. Department of Agriculture’s Risk Management Agency has announced that farmers will have more time to ensure that their crops are properly insured after an uncommonly wet spring last year. Farmers are required to terminate their cover crops in order to obtain insurance coverage for their main crops. The original deadline for this termination was scheduled for May 15 of this year. The Risk Management Agency has pushed that back to June 5. Farmers will be required to terminate their cover crops regardless of their stage of growth by…
Read MoreA Christmas tale from an insurance point of view
We found this and couldn’t resist…so in the spirt, please enjoy a Christmas tale from the insurance side of life! ‘Twas the night before Christmas (12:01 a.m. 12/25) and all through the house (single family, joisted masonry, e.c.3, terr. 44, pc5), not a creature was stirring, not even a mouse (thorough pride of ownership and excellent maintenance). The (flame-retardant) stockings were hung by the (contractor-installed) chimney with care, in hopes that St. Nicholas soon would be there (in spite of deadbolt locks and central station alarm system). The children (ages…
Read MoreInsurance industry sheds jobs in some sectors while adding to others, according to III report
The Insurance Information Institute (III) has released a new report drawing upon data from the U.S. Department of Labor. The report touches upon the volatility seen in the property/casualty insurance business in October of this year. According to the report, the property/casualty sector performed poorly in terms of employment while other sectors saw promising growth. Overall, the report highlights the turbulent year the insurance industry has faced as a whole and suggests that the trend can continue throughout next year depending on the economic climate. The III notes that 900…
Read MoreInsurance agents and carriers bring their mobiles with them everywhere
A study conducted by FirstBest Systems, Inc. has shown that the majority of insurance agents and carriers either want or already use a tablet computer, and that virtually all of them have a minimum of one smartphone, and that they all want to have convenient information access, to be able to be able to perform tasks of a time sensitive nature quickly and easily, and to offer superior service no matter where they are or what time it is. FirstBest performed the Mobile Technology for Insurance Survey while taking part…
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