The New York state Legislature may be right in the middle of budget negotiations, but the Assembly took a break from the budget to pass one of PIANY’s top legislative priorities for the 2024 legislative session.
The Assembly passed A.2866—which requires the New York State Department of Financial Services to create a standard definition of windstorm for homeowners insurance policies—on March 18, 2024.
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.
A.2866 would do just that by requiring a uniform definition of hurricane windstorm when insurance companies include a hurricane windstorm deductible in a policy. Standardizing the definition would ensure consumer clarity regarding the increased exposure to the risk of a hurricane. It also would bring New York closer in line with neighboring states like New Jersey and Connecticut, which already have a standard definition.
PIANY would like to thank Assemblywoman Stacey Pheffer-Amato, D-23, sponsor of A.2866, for her strong support on this issue.
Get involved
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.
Additional resources
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
Bradford J. Lachut, Esq.
Bradford J. Lachut, Esq., joined PIA as government affairs counsel for the Government & Industry Affairs Department in 2012 and then, after a four-month leave, he returned to the association in 2018 as director of government & industry affairs responsible for all legal, government relations and insurance industry liaison programs for the five state associations. Prior to PIA, Brad worked as an attorney for Steven J. Baum PC, in Amherst, and as an associate attorney for the law office of James Morris in Buffalo. He also spent time serving as senior manager of government affairs as the Buffalo Niagara Partnership, a chamber of commerce serving the Buffalo, N.Y., region, his hometown. He received his juris doctorate from Buffalo Law School and his Bachelor of Science degree in Government and Politics from Utica College, Utica, N.Y. Brad is an active Mason and Shriner.
