The New York Legislature certainly has been active on PIANY priority-issues. PIANY’s top priority photo inspection bill passed the Legislature late last month. This week, another PIANY priority passed the state Assembly, which deals specifically with windstorm definitions.
A.2866 would require the New York Department of Financial Services to create a standard definition of windstorm for homeowners insurance policies.
Why does PIANY care about a definition?
The definition of windstorm may seem harmless, but it has real consequences on consumers.
Currently, there is no standard definition of windstorm. In fact, the DFS has approved over 100 definitions of windstorm! Differences in the definition of windstorm can cost homeowners thousands of dollars in the event of a wind-related claim. To simplify homeowners policies for consumers, PIANY has advocated for the creation of one definition.
PIANY would like to thank Assemblywoman Stacey Pheffer-Amato, D-23, sponsor of A.2866, for her strong support on this issue. In addition, thank you to all the members who spent time visiting with their elected officials through PIANY’s District Office Visit Program. Your time and efforts made a difference!
If you want to get involved with PIANY’s legislative and advocacy work, there are many ways to engage with the association:
- participate in PIANY’s District Office Visit Program;
- become a member of Agents Advocacy Coalition; and
- watch your PIA Northeast publications and PIA Northeast’s social-media channels for important New York updates, and share them with your followers.
N.Y.: Do you know what a hurricane is (for insurance purposes)?
Letter to the editor: It’s time to fix windstorm coverage in N.Y. insurance policies