Weekly Dispatch: June 23, 2022

June 23, 2022

News

Conn.: New law enacts a comprehensive consumer data privacy law

Gov. Ned Lamont recently signed into law Public Act 22-15, which enacts a comprehensive series of protections for consumers that provide them with greater ability to safeguard their personal data that is collected when they interact with companies online. The law requires companies to publicly share a privacy policy that tells consumers what data of theirs is being collected and how that data is being used, and it gives consumers an option to opt out of selling or sharing that data to others. In addition, it requires consumers under the age of 16 to provide consent to data collection. Companies will be prohibited from discriminating against consumers who choose to exercise these rights. The law also requires companies to lessen the amount of data they collect and only use that data for the purposes they are collecting it for, therefore having less data breaches and identity theft.

PIANJ recognizes its Director of the Year

During its Annual Conference last week, PIANJ presented Lisa Hamm, CIC, of Clyde Paul Agency, North Arlington, N.J., with its Director of the Year award. During the presentation, newly elected PIANJ President Tom Wilkens said: “This year, our honoree has contributed remarkable time and talent to help support the organization and its many programs. A respected and outstanding insurance professional, we recognize Lisa Hamm for her leadership as chair of both the Membership Services & Programs Committee, and the Women’s Leadership Alliance.”

Advocacy

N.J./N.Y.: Agents Advocacy Coalition and NJPIAPAC thanks donors at Annual Conference

Agents Advocacy Coalition and New Jersey PIAPAC had a wonderful time at the Landshark Bar & Grill last week thanking their 2020, 2021, and 2022 Capitol Club and above donors at the annual cocktail reception at the Annual Conference hosted by PIANJ and PIANY. There were more than 40 people in attendance. Everyone enjoyed some lovely appetizers and an open bar while networking and catching up with old friends. The event flowed right into the Beach Party that night, which meant the fun didn’t have to stop! Learn more about Agents Advocacy Coalition and New Jersey PIAPAC on their respective websites.

Technical

N.J.: Commercial water backup endorsement revised

The Mutual Service Office Inc. received approval for a revised MCP 107 05 22–Water Damage–Sewer/Drain Backup Coverage–Part I endorsement. MSO added a provision effective June 15, 2022, which clarifies that the Flood/Flooding Exclusion is not amended by this endorsement and still applies as originally intended.

Educating insurance agents

N.Y.: New classes that meet the New York State Department of Financial Services’ new CE requirements are available online and in private on-site sessions.

Education session: Funding LTC with life insurance

Join Jerry Rhinehart, CIC, CLU, ChFC, RHU, as he leads Innovations in Long Term Care Funding with Life Insurance, Tuesday, June 28, starting at 10 a.m. This webinar will review the dilemma faced by so many families—the long-term care, and associated financial and emotional issues, needed by people when they encounter a serious medical issue. When attention is needed, the options are limited as to where the care can be rendered—their personal residence (or a residence of another), an assisted care living facility, or a skilled nursing facility. The cost, advantages and potential problems concerning each site for care will be reviewed. The cost of such care can only be borne in one of three options: personal funds, some governmental entity, or specific insurance. This program will review the qualification rules, and care provided by Medicare and Medicaid. It will review the coverage and provisions of LTC policies that have been available for more than 40 years. The program will conclude with the recent innovations that have emerged in recent years regarding living benefits riders (or policy provisions) that allow certain insurance contracts to provided advances against the death benefit to fund for the LTC dilemma. This class has been approved for continuing-education credits in Connecticut, New Hampshire, New Jersey, New York, and Pennsylvania. Register for this webinar today.

NFIP classes help agents understand flood program

The National Flood Insurance Program will present its next round of Key Fundamentals of Flood Insurance Webinar 2.0 next week. These classes review the key elements that insurance agents need to know about the NFIP and how it works. They have been approved for continuing-education credits for the states in the PIA Northeast footprint. You must attend both parts to receive CE credit. Part One will be held Tuesday, June 28, from 3-5 p.m.; and Part Two will be held Wednesday, June 29, from 3-5 p.m. The classes also will be held: Part One: Wednesday, June 29, from 11 a.m.-1 p.m., and Part Two: Thursday, June 30, from 11 a.m.-1 p.m.

Events

NJYIP Summer Reception, register today

Join NJYIP at Burnt Mills Cidery for its Summer Reception on Thursday, July 28, 2022, from 5:30-8:30 p.m. With drinks and food included, you can network with your industry colleagues and enjoy a day of warm weather after work! Register today.

Register now

Thursday, July 14, 2022: PIWA Summer Reception

Thursday, July 28, 2022: NJYIP Summer Reception

Monday, Aug. 1, 2022: NY-YIP Golf Open

Monday, Sept. 12, 2022: Save the date: PIANJ Golf Classic

Celebrating 40 Years with Berkshire Hathaway GUARD Insurance Companies.
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