News
FEMA assists in Hurricanes Helene and Milton recovery
Hurricanes Helene and Milton, collectively, have caused billions of dollars in damages and hundreds of deaths across the Southeastern United States. State and federal resources have been deployed to assist the communities affected by these storms. The Federal Emergency Management Agency has provided $850 million to communities impacted by Helene: FEMA also is creating shelters and providing food to those affected by both storms. Check out PIA’s Hurricane Info Central, which has resources to help your clients and your agency during the hurricane season, which runs until Saturday, Nov. 30, 2024. If you would like to send customized materials to your clients, email PIA’s Design & Print.
Conn.: FEMA closes one Disaster Recovery Center, one remains open
Gov. Ned Lamont announced on Oct. 14, 2024, that FEMA has made a schedule change to Connecticut’s two recently opened Disaster Recovery Centers, which have been providing in-person support with applying for federal disaster assistance to those impacted by the Aug. 18, 2024, severe storm and flooding. The DRC located at Our Lady of Fatima Church in Wilton permanently closed on Oct. 14, 2024. The state’s other DRC, which is located at Southbury Town Hall, remains open and is continuing to provide individuals with in-person assistance.
N.J.: Army National Guard sends support to Florida Division
New Jersey Army National Guard announced the deployment of approximately 80 soldiers and 30 military vehicles to support Hurricane Milton response operations in Camp Blanding, Fla. A convoy from the 143rd Transportation Company and 253rd Transportation Company, 42nd Regional Support Group was scheduled to arrive in the state by the end of the week of Oct. 9, 2024. New Jersey responded to Florida’s request for support through the Emergency Management Assistance Compact, the nation’s state-to-state mutual aid agreement.
N.Y.: Federal assistance for those impacted by Debby
Gov. Kathy Hochul has announced that federal assistance is available to New York residents in Steuben County and the contiguous counties of Allegany, Chemung, Livingston, Ontario, Schuyler and Yates, which were impacted by severe weather related to Tropical Storm Debby from Aug. 8-10, 2024. Eligible homeowners, renters and businesses now can apply for U.S. Small Business Administration low-interest loans to aid in recovery from storms that caused significant damage to homes and businesses.
N.Y.: First phase of Empire AI launched
New York state’s first-in-the-nation Empire AI Consortium will commence research this fall—six months after it was included in the FY25 Enacted Budget. The Simons Foundation, a private foundation with the mission to advance the sciences, made a philanthropic contribution of initial computing power and expert staffing, allowing Empire AI to jumpstart its research. On behalf of the Consortium, the University at Buffalo also has launched a request for proposals to advance the permanent home of the full-scale state-of-the-art artificial intelligence computing center.
Compliance
N.Y.: DFS issues new guidance for cybersecurity and AI
As of Oct. 16, 2024, the New York State Department of Financial Services issued new guidance for the entities it regulates—specifically addressing cyber security risks arising from artificial intelligence. This guidance is especially relevant for insurance agents and brokers who operate under the DFS’s regulation, as it highlights the risks and defensive strategies related to AI’s impact on cybersecurity. It’s important to note that the DFS did not create any new compliance requirements. The guidance is meant to explain how covered entities should use the framework set forth in New York state cyber security regulation to assess and address the cyber security risks arising from AI. As a reminder: Any agency doing business in New York state must comply with the DFS’s cyber security rules. To help members do this, PIA Northeast has partnered with TAG Solutions.
Advocacy
N.J.: Bill to protect not at-fault drivers from rate hikes introduced in state Senate
Drivers in New Jersey may soon have greater protection against insurance rate hikes for accidents for which they are not at-fault. S-3717 would amend the state’s Insurance Law to prevent automobile insurers from penalizing drivers involved in accidents in which they were not at fault. The legislation, sponsored by Sen. Robert Singer, R-30, was introduced on Oct. 7, 2024. It has been referred to the Senate Commerce Committee for consideration. If passed, this legislation would eliminate the possibility of higher insurance premiums solely because the drivers were in accidents, even if they were blameless.
In conversation with New Jersey PIAPAC, PIANY AAC
The official political action committees of PIANJ and PIANY—the New Jersey PIAPAC and the Agents Advocacy Coalition, respectively—play an important role in shaping legislative efforts that impact insurance agents in their respective states. Three members from each PAC discuss their journeys into the insurance world, their advocacy efforts and what motivates them to support the coalition in recent articles on PIA Northeast News & Media. The New Jersey PIAPAC interview features New Jersey PIAPAC Chairperson Michael Beckerman, CPCU; Vice Chairperson Christopher J. Powell; and Treasurer Lydia Bashwiner, Esq., CWCP, NJWCP. The New York AAC interview features Chairperson Fred Holender, CLU, CPCU, ChFC, MSFS; Treasurer Jason Bartow, AAI, CPIA; and AAC Committee Member Jamie Ferris, CIC, AAI, CPIA, CRM.
Technical
Certificates of insurance and additional insureds
An additional insured is a person or group covered in an insurance policy under a policyholder. However, there are some misconceptions about the rights of additional insureds. It’s important to go over these limitations, as this can give certificate holders the incorrect impression of what they can, or cannot do, with their insurance policy. For more information, PIA Northeast members can access More on additional insureds in the PIA QuickSource library.
Educating insurance agents
Conn./N.J./N.Y.: Commercial policies and additional insureds
Who is covered as an insured under some of the most commonly written commercial insurance policies? Insurance professionals can learn the answer to this question and more at the webinar, Insureds and Additional Insureds—Who’s Covered Under Commercial Policies? This webinar will feature Catherine L. Trischan, CPCU, CIC, CRM, AU, AAI, CRIS, ARM, MLIS, TRIP, and will be held on Monday, Oct. 21, 2024, from 12-4 p.m. It has been approved for continuing-education credits in Connecticut (4 PC), New Jersey (4 GEN) and New York (4 BR, C3, PA, PC).
Events
HV RAP: Valuable insights at the Keynote Luncheon
PIANY’s Hudson Valley Regional Awareness Program will be held Wednesday, Nov. 6, 2024, at the Crown Plaza Hotel, Suffern, N.Y. HV RAP’s Keynote Luncheon will feature two incredible guest speakers. The keynote address will be led by award-winning sales speaker, author, trainer and coach John Chapin, who will speak about the implementation of artificial intelligence in sales. This will be followed by a speech from Rich Andrews, LUTCF, the newly elected PIANY president: his remarks will focus on his vision for the association and the industry. Don’t miss out: register for HV RAP now and save 15%. Sponsor, exhibit, or advertise here.
Register now
Monday, Oct. 21, 2024: Disaster at your Doorstep: Disaster Planning and Continuity Strategies for the Personal and Commercial Lines Client—Free webinar to YIP members in Connecticut, New Jersey and New York; $25 PIA Northeast members; $50 nonmembers
Thursday, Oct. 24, 2024: PIWA Panel Discussion: How to Build a Successful Career in the E&S Wholesale Business
Tuesday, Oct. 29, 2024: New Jersey Deep Dive: The Perfect E&O Storm—Informational only; no CE credit.
Wednesday, Nov. 6, 2024: Hudson Valley RAP—Sponsor, exhibit or advertise
Tuesday, Dec. 3, 2024: NJYIP Holiday Social
Save the date
Tuesday, Jan. 28, 2025: NY-YIP Welcome Reception
Wednesday, Jan. 29, 2025: MetroRAP
March 20-21, 2025: Connecticut Convention
June 8-10, 2025: PIANJ | PIANY Annual Conference
