N.J.: Get in front of renewal increases with your clients; PIANJ offers sample letter
Across the country, the insurance-buying public has seen sharp premium increases when their homeowners and automobile insurance policies are being renewed. In many cases, premiums are outpacing claims and expenses, as well as rising higher than inflation. The rules...
N.Y.: DFS issues guidance on cannabis-related criminal convictions and underwriting
The New York State Department of Financial Services issued a circular letter last week to provide guidance to the insurance industry on cannabis-related criminal convictions and insurance underwriting. Under New York state law, it is illegal for any person or entity...
N.J.: Bill to require liability insurance for handguns passes state Assembly
A bill (A-4769) that would require any person in New Jersey who carries a handgun in public, to maintain liability insurance coverage passed the New Jersey state Assembly (43-29-1) earlier this month. According to the bill, the policy must provide coverage for loss...
Letter to the editor: It’s time to fix windstorm coverage in N.Y. insurance policies
Dear Editor, As we look at the damage caused by Hurricane Ian in Florida and South Carolina—and prepare for the possible damage caused by Hurricane Nicole—we say our prayers and think about how New Yorkers would fair in this type of disaster. The answer lies within...
An explanation multi-factor authentication
Multi-factor authentication is a method of authenticating users on an information system and requires them to go through multiple steps to access that information system. Commonly, this is accomplished through a combination of a username and password, followed by a...
Weekly Dispatch: Nov. 23, 2022
At this time of year—just like all year—PIA thanks you for your continued support. The Connecticut workers’ compensation announces an automated form 6B filing process. And, Gov. Kathy Hochul vetoes PIANY’s top-priority photo inspection legislation S.6028/A.6877. Plus, you can read about state-specific industry news, compliance issues, technical resources, education opportunities, and upcoming events in this issue of the Weekly Dispatch.
N.Y.: Governor vetoes photo inspection legislation
In a stunning move, New York Gov. Kathy Hochul vetoed PIANY’s top-priority photo inspection legislation (A.6877/S.6028) yesterday. The legislation would have made New York’s outdated photo inspection requirements optional. The governor acted quickly on this bill. It...
An overview: Amendments to N.Y.’s cyber security regulation (23 NYCRR 500)
The New York State Department of Financial Services released the official proposed second amendment to the cybersecurity regulation (23 NYCRR 500). This follows an unofficial draft of the amendments that circulated in August. The amendment would make multi-factor...
Hello agents! Want to make the most out of client data?
Independent agents work to protect their clients’ biggest assets: their homes. It’s no surprise that clients need to feel they can trust their independent agent when it comes to advice on protecting something so important. What is the key to fostering (and...
Weekly Dispatch: Nov. 17, 2022
PIANH elects 2022-2023 officers during its annual business meeting, PIANY provides a section-by-section analysis of the DFS’s proposed second amendment to 23 NYCRR 500. And, PIA is asking members to contact their congressional representatives to encourage them to provide inflation relief for agents who provide crop insurance. Plus, you can read about state-specific industry news, advocacy updates, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.
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