Weekly Dispatch: July 21, 2022

July 21, 2022


Berkshire Hathaway GUARD to cease writing some HO risks

Berkshire Hathaway GUARD Insurance Cos. announced it will no longer write certain classes of homeowners insurance risks. In a notice sent to GUARD agencies at the end of June, the carrier stated it would no longer accept new submissions for homeowners coverage for any property that is either: a dwelling with more than two families, or has an ISO Public Protection Classification of 8, 9, 10, X or Y. This change applies to all states. However, renewal business in not impacted.

Conn.: Plan to grow businesses with COVID funding approved

Gov. Ned Lamont this week announced that the U.S. Treasury Department has approved Connecticut’s plan to deploy up to $119.5 million in funding through the American Rescue Plan Act’s State Small Business Credit Initiative. Connecticut’s SSBCI program will support underserved entrepreneurs across the state through a variety of loan and equity programs designed to spur small-business growth, create jobs, promote equity, and catalyze green technologies.

N.Y.: A look into the law to allow businesses with outstanding balances to access WC insurance through NYSIF

At the end of June, Gov. Kathy Hochul signed legislation into law that directly impacts businesses with outstanding unpaid balances with the New York State Insurance Fund. PIANY Director of Government & Industry Affairs Bradford J. Lachut, Esq., has examined this new law thoroughly—to see what the law does, how it’s different from previous law, its impact on the insurance-buying public, and what it mean for agents. PIANY has long advocated for a change in the law to permit the payment of compensation to producers on NYSIF policies. The association will continue to push for this necessary change. In the meantime, producers are reminded that they are permitted to charge fees on NYSIF policies.


PIA, other groups, oppose proposed small-business tax hikes

PIA, along with over 190 business groups, wrote to congressional leadership recently to oppose proposed tax hikes on small-business owners as part of the newest effort to pass a reconciliation bill in Congress this session. This renewed effort follows a failed effort in 2021 to pass a more sweeping reconciliation measure. To pay for the latest reconciliation proposal, congressional Democrats are looking to raise taxes on small, individually, and family-owned businesses.

PIANY advocates at the national and state level

PIANY members met with members of their congressional delegation last week to discuss reauthorization of the National Flood Insurance Program. The meetings took place as part of PIA’s rolling year-round 2022 Advocacy Days. Association members noted that Congress must be sure to extend the authorization of the NFIP before it lapses on Sept. 30. Currently, the program is operating on its 20th short-term extension since 2017. PIANY members also have been meeting with their state representatives virtually and in-person to discuss the association’s legislative priorities for 2022, which include: waiving photo inspections, repealing the anti-arson application requirement in New York City, standardizing the definition of windstorms, reforming the New York State Insurance Fund, and more. See pictures from this year’s meetings here.

New Jersey PIAPAC is your state political action committee

PIANJ often gets questions about the difference between NJPIAPAC and PIAPAC. The former is the PIANJ state PAC, while PIAPAC is the PIA National’s PAC. They are similar, but they do have some key differences. The major difference is NJPIAPAC only contributes to candidates for state office in New Jersey and PIAPAC contributes to candidates from across the country for Congress. Learn more about their other differences here.


N.Y.: WC loss costs to fall 8.7% on Oct. 1

The New York State Department of Financial Services approved the workers’ compensation filing submitted by the New York Compensation Insurance Rating Board for a decrease of 8.7% in the overall loss cost level in New York state, effective Saturday, Oct. 1, 2022. Revisions to the experience rating values for use with the New York Experience Rating Plan also have been approved.

N.Y.: ISO HO 2022 program approved, effective Nov. 1

Another decade has passed since the Insurance Services Office Inc. 2011 HO Program debuted. Prior to that, it was the 2000 HO Program. Now comes the 2022 HO Program. There are many interesting enhancements and limitations, and many coverage holes that have been plugged. There are 13 new forms, 130 revised forms, and 11 withdrawn forms in this filing. In New York state, the new program is effective Tuesday, Nov. 1, 2022. For more details, see the ISO 2022 HO Program PIA Resource document.


N.Y.: Petrylka named National Alliance CSR state winner

The National Alliance for Insurance Education & Research announced recently that PIANY member Amanda Petrylka, ACSR, of Mackoul Risk Solutions in Island Park, has been named one of its 2022 Outstanding CSR of the Year state winners. National Alliance chooses these state winners to compete against each other to become one of five finalists for the National Outstanding CSR of the Year Award. PIANY congratulates Petrylka, and the association wishes her luck.

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.

Register now

Thursday, July 28, 2022: NJYIP Summer Reception

Monday, Aug. 1, 2022: NY-YIP Golf Open—Golf spots still available.

Monday, Sept. 12, 2022: PIANJ Golf Classic

Thursday, Sept. 29, 2022: Save the date: PIANH Symposium

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