Weekly Dispatch: June 3, 2021

June 3, 2021

News

Last chance: Register now to earn 13 CE

PIA Northeast’s Virtual Conference 2021 is next week! Register by tomorrow to earn a staggering 13 continuing-education credits in just four days. You can learn about business income and the pandemic, or how to protect your clients’ lives while complying with Regulation 187—you can even test your personal- and commercial-lines knowledge. Trust us, you don’t want to miss it. Get your entire agency in on the action! When you sign up, use the PIAMEMBER21 discount code and share it with colleagues so they can register for $50 off. That’s the full conference for just $149 per attendee when they register now!

It’s hurricane season—and it’s no secret that the Northeast ought to prepare

This hurricane season, researchers are predicting another above-average year. And, since the U.S. Environmental Protection Agency has recorded that oceanic temperatures are on the rise, the Northeast could experience another major storm. Are you prepared? Hurricane season runs from June 1-Nov. 30. As you know, it takes 30 days for a flood policy to go into effect, so the time to start talking to your clients about flood insurance is now.

Conn.: CID reviewing use of AI in insurance

The Connecticut Insurance Department announced last week that it is actively engaging with insurers to protect consumers, and to ensure that the use of artificial intelligence and big data is not discriminatory in any way. Last year, the National Association of Insurance Commissioners released guidance addressing the use of AI in insurance, which the CID adopted unanimously. Per the guidelines, AI use in insurance is expected to be fair and ethical; accountable; compliant; transparent; and secure, safe and robust.

N.H.: Gov. Sununu allows electronic delivery of policy cancellation notices

Gov. Chris Sununu signed H.B.520 last week, which allows insurers and agents to deliver mandatory policy notices to policyholders electronically. According to the legislation, any document that an insurer or agent must deliver to a policyholder will be able to be delivered electronically, including the cancellation of an auto policy or any other document that requires a signature. However, policyholders must consent to electronic delivery of notices about their policies, and may request written notice instead of electronic notice. And, policyholders can withdraw their permission to receive electronic notices at any time. This legislation will go into effect Saturday, July 24, 2021. Watch your PIA Northeast publications for more information on this new legislation.

Advocacy

N.J.: The primary elections are next week—Don’t forget to vote

The New Jersey primary elections for the state Assembly and state Senate are Tuesday, June 8, 2021. New Jersey PIAPAC is your voice in the New Jersey political arena. NJPIAPAC contributes to candidates who understand the insurance industry in order to help their efforts to get elected—or reelected. Local and state elections impact independent agents’ lives directly, so NJPIAPAC encourages you to get out and vote. If you are not sure where your polling place is, you can find out on the New Jersey state website.

N.Y.: PIANY spotlights Assemblywoman Pheffer Amato

To mark the start of hurricane season, PIANY casts a spotlight on Assemblywoman Stacey Pheffer Amato, D-23, who sponsors PIANY-priority legislation A.950. The legislation would standardize hurricane deductible triggers, making policies clearer for policyholders and allowing carriers to distribute hurricane risk between insurers and policyholders, with freedom to adjust deductibles.

N.Y.: PIANY members talk insurance with local legislators

As part of PIANY’s quarterly Regional Advisory Council meetings, the councils held a special Spring Into Advocacy event from May 18-28, 2021. Over the course of 10 days, PIANY leadership and members met with legislators (or their representatives) from each region to discuss the insurance industry in New York, to express their concerns about current or pending legislation, and to ask questions. PIANY thanks all of the members—and most importantly, the legislators—who set aside time to discuss the issues that impact independent agents in New York.

Register now

June 15: The CTYIP Golf Open

Celebrating 40 Years with Berkshire Hathaway GUARD Insurance Companies.
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