News
Happy New Year—December consumer content round up
Say goodbye to December 2024 and hello to January 2025. As we celebrate the New Year, have you had the chance to review December’s consumer content offered by PIA Northeast? Our consumer content provides an excellent conversation starter when it comes to introducing different types of insurance or business practices to your clients. Last month, your association published the following articles on its news site: the best way to protect your home while on vacation, driving tips during winter weather and what to know before you start living with a roommate.
Tesla model cars cited for high fatal crash rates
Tesla cars are becoming a more frequent sight on the road. In 2023, the company sold delivered 1.8 million Model 3/Y cars to its customers—while they aren’t the most dominant car brand, drivers see at least one or two of them during their morning commute. While these cars occupy a burgeoning position on America’s roads, they have a relatively high fatal crash rate compared to other cars on the road. What could be behind these crashes?
New York sees new legislation signed over the holiday
Over the December 2024 holiday, Gov. Kathy Hochul signed legislation that will impact all residents of the state. On Dec. 24, a package of bills concerning online safety was signed, which included legislation that will require social-media companies to post their terms and services, strengthen protections of medical and insurance information from identity theft, the prohibition of using social-media websites for debt collection and more.” On Dec. 26, the legislation S.2129-B/A.3351-B was signed, which will create a “climate superfund” to support New York projects to improve climate resiliency. Under the new law, the state can collect up to $75 billion from fossil fuel companies as compensation for damages.
Vt.: Bigglestone named acting commissioner of the DFR
On Dec. 20, 2024, Gov. Phil Scott announced current deputy commissioner of the Captive Insurance Division, Sandy Bigglestone, will become acting commissioner of the Department of Financial Regulation at the start of 2025, following Commissioner Kevin Gaffney’s retirement. Gaffney is retiring after serving as commissioner of the DFR since 2022. In March 2019, Gaffney was named DFR deputy commissioner of insurance. Prior to that for more than 12 years, he served as director in the Insurance Division Rates & Forms section.
Advocacy
NFIP extended to March 2025
On Dec. 20, 2024, Congress avoided a government shutdown after reaching a short-term deal, called a continuing resolution, to fund the federal government. Included in the agreement was an extension of the National Flood Insurance Program. The NFIP will now be funded through Thursday, March 14, 2025. This extension marks the 32nd short-term extension of the NFIP since its last five-year reauthorization expired in 2017. In advance of that deadline, the 115th Congress was unable to agree on NFIP reforms, leading to a seemingly endless string of short-term extensions. PIA will continue to work with lawmakers to bolster support for a long-term reauthorization of the NFIP with necessary reforms.
New Hampshire leads coalition calling for FIO abolishment
A coalition of insurance commissioners from Alabama, Arkansas, Kansas, Louisiana, New Hampshire, North Carolina, Oklahoma, Tennessee and West Virginia have issued a joint letter to the appointed leaders of the Department of Government Efficiency, Elon Musk and Vivek Ramaswamy. The letter, which features New Hampshire Insurance Department Commissioner DJ Bettencourt as the first signatory, urges DOGE to recommend the elimination of the Federal Insurance Office: DOGE is a proposed presidential advisory commission tasked with restructuring the federal government and “increasing government efficiency.”
Technical
Certificates of insurance and failure to place, renew coverage
Don’t give your insureds the wrong idea: certificates of insurance are not the same as insurance coverage. This misunderstanding can lead to an errors-and-omissions lawsuit, but what can you do to avoid claims related to certificates of insurance and failure to place or renew coverage? For more information, PIA Northeast members can access COI and failure to place or renew coverage in the PIA QuickSource library.
Educating insurance agents
Spring Trusted Risk Advisor™ Certification Programs
The Trusted Risk Advisor™ Certification Program from Beyond Insurance offers a convenient package for insurance producers interested in acquiring an enterprise risk management skill set through a logical, disciplined and results-oriented framework. The four online courses you will take, if you choose to register, are immersive microlearning modules facilitated by subject experts, offer opportunities to collaborate with peers, experts and coaches in an online format, and will take only four months to complete. These modules have also been submitted for CE approval: learn more and register for the spring courses here.
Events
Hit the virtual green for the CTYIP Holiday Social
The CTYIP Holiday Social is back and once again heading to the Back 9 Social for an evening of virtual golf, food and networking fun. The Back 9 Social, Wallingford, Conn., combines state-of-the-art golf simulations with excellent food, atmosphere, and service. This event will be held on Wednesday, Jan. 15, 2025, from 5-8 p.m. Don’t miss out on a chance practice your golf swing and strengthen your relationship with your industry peers—register today!
Knowledge to help build your business—MetroRAP 2025
Independent insurance agents must rely on their knowledge and tools to deliver excellent service to their clients. Learning about a city’s insurance marketplace and regulations isn’t so different from a construction worker preparing for a new project. PIANY’s MetroRAP 2025 will feature two education seminars, both of which have been approved for continuing-education credits: Measure Twice, Insure Once? Insuring NYC Contractors, Property Owners & Tenants with Jon Lipton, CIC, CRIS, Castle Rock Capacity LLC and E&O Pitfalls when Insuring Construction/Renovation Projects ^UN^AZ with Christopher Weldon, Esq., Winget, Spadafora & Schwartzberg LLP. The former will teach attendees about the dynamic insurance market of New York City, covering construction insurance’s complexities, balancing coverage inclusions and exclusions and actionable knowledge of how to protect clients. The latter will teach you about avoiding E&O pitfalls, regulations in the city and the best practices for claims handling and documentation. Don’t miss out: MetroRAP will be held on Wednesday, Jan. 29, 2025, at the Sheraton Hotel in Times Square, register for MetroRAP 2025 now and save 15%. Sponsor, exhibit or advertise here.
Register now
Wednesday, Jan. 15, 2025: CTYIP Holiday Social
Tuesday, Jan. 28, 2025: NY-YIP Welcome Reception
Wednesday, Jan. 29, 2025: MetroRAP—Interested in sponsoring, advertising or exhibiting?
Tuesday, March 4, 2025: NJYIP Swing and Connect
Wednesday, March 19, 2025: Connecticut Convention Welcome Reception
March 20-21, 2025: Connecticut Convention— Interested in sponsoring, advertising or exhibiting?
Tuesday, March 25, 2025: NY-YIP Pre I-Day Happy Hour
Save the date
June 8-10, 2025: PIANJ | PIANY Annual Conference
Monday, Aug. 11, 2025: NY-YIP Annual Golf Outing
