News
Another PIANY win: Lawsuit-lending reform law signed, more work ahead
Before the end of 2025, PIANY scored another key victory. Gov. Kathy Hochul officially enacted the Consumer Litigation Funding Act (S.1104-A/A.804-C), a much-needed reform to regulate the previously unchecked world of third-party lawsuit lending. It’s a move that will protect vulnerable plaintiffs, curb predatory financial practices, and help contain rising insurance costs for businesses and consumers alike. This legislation was a top priority for PIANY during the 2025 legislative session and marks a major milestone for fairness in the state’s legal and insurance systems. While the new law is a big step forward, there’s one area that PIANY believes needs additional action: transparency during active litigation. As it stands, the law does not require that the existence of a lawsuit lending agreement be disclosed during the litigation process. That means insurers, defense attorneys, and even courts may be negotiating in the dark, unaware that a third-party financial player is influencing a plaintiff’s settlement expectations. The good news? The governor has requested chapter amendments to address this concern.
Happy new year—Looking back and looking forward
PIA wishes you a happy new year! Say goodbye to 2025, and hello to 2026. PIA Northeast thanks you for your continued support in our fight for independent insurance agents and consumers across our five-state footprint. In 2025, PIA landed many significant victories, and there is more to be won in the new year. Let’s take pride in our accomplishments and resolve to face these new challenges head on.
Northeast states hunker down for winter weather
From the end of December into the New Year, states in PIA Northeast’s five-state footprint have been gripped by cold weather and plenty of snow. Connecticut activated its Severe Cold Weather Protocol, while New York declared a state of emergency in response to lake effect snow and high winds. Every winter, remember that PIA Northeast will keep its members updated on any winter storms that may affect the Northeast through its PIA Storm Info Central. The tool kit has numerous resources that you and your clients can use this winter.
Vt. Governor announces new legislative appointments
Gov. Phil Scott announced on Jan. 2, 2026, his appointment of Republican Val Taylor to represent Rutland District 11 in the state House of Representatives and Republican John Benson to represent the Orange District in the state Senate. Taylor is replacing Rep. Jim Harrison, and Benson is replacing Sen. Larry Hart. Taylor served as the chair of the Mendon Selectboard, and has an entrepreneurial background. Benson was a civil engineer for 45 years and has served on the Brookfield Selectboard since 2009, and currently serves as the chair of the board.
Advocacy
PIANY’s 2026 legislative priorities: Building a fairer, stronger insurance marketplace
After major advocacy wins in 2025, PIANY is looking forward to this year’s legislative session. As the 2026 legislative session begins in Albany, the association is once again advancing practical, meaningful reforms to improve the state’s insurance environment. This year, its priorities reflect the challenges independent agents are seeing in real time. This includes a new continuing-education carryover policy for insurance producers, further crack down on lawsuit lending abuses, a new insurance framework for e-bikes and e-scooters and more. To move these efforts forward, we need your voice and engagement: get involved today!
Technical
How to make the most of customer relations in an unpredictable economy
During periods of economic uncertainty, businesses are forced to confront new challenges that demand flexibility and innovations. Economic downturns can lead to dramatic changes in customer attitudes, so how do you maintain relationships with existing clients and catch new ones? To learn more, PIA Northeast members can access Maximize customer relationships in an unpredictable economy in the PIA QuickSource library.
Conn.: NCCI 2026 WC loss cost decrease of 3.8% approved
The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 3.8% decrease. Also approved was an overall assigned-risk rate reduction of 0.4%. These loss costs and rates took effect Jan. 1, 2026. For more on the CID approval, see its online Memorandum and Order. For the latest loss cost multipliers, PIA Northeast members can access Connecticut loss cost multipliers in the PIA QuickSource library.
N.J.: 2026 WC overall rate level decreases 4.3%
The New Jersey Compensation Rating and Inspection Bureau received approval from the Department of Banking and Insurance for a rate revision of -4.3%, effective Jan. 1, 2026,which is applicable to new and renewal policies. The NJCRIB distributed Circular Letter No. 2510 detailing this rate revision, along with the manual changes. For specific information on these changes, including rates, classifications, minimum/maximum payroll, expense constant and policy surcharges, PIA Northeast members can access 2026 WC overall rate level decreases 4.3% in the PIA QuickSource library.
N.J.: DOBI receives reaccreditation
The DOBI has received reaccreditation of its Banking Division, which certifies that the department continues to meet the national standards and practices set by the Conference of State Bank Supervisors. The department received notification of its reaccreditation on Dec. 29, 2025. The CSBS reviews state banking departments every five years. To earn accreditation, state agencies must undergo a rigorous and comprehensive independent review of their operations, including administration and finance, personnel training, examination, supervision and statutory powers.
Vt.: DFR announces grant opportunity to provide financial services education
The Vermont Department of Financial Regulation has announced that it is resuming its grant program to support Vermont organizations providing services education. Grant applications will be accepted via email by Friday, Jan. 30, 2026, at 5 p.m. This fund, the Victim Restitution Special Fund, was established in 2019, and allows a portion of settlements arising out of DFR enforcement matters to be retained for the purposes of education and restitution.
Educating insurance agents
N.Y.: CE regulations for ethics, law, diversity
For a comprehensive overview of New York state broker and agent licensing issues, laws and regulations, and items that may be misunderstood, register today for the New York CE Regulations on Ethics, Law & Diversity. This webinar will be held on Thursday, Jan. 15, 2026, from 9 a.m. to 12 p.m., and will be taught by Mishell K. Magnusson, CIC, CISR, CPIA, AAI, FIPC. This course has been approved for CE credits in New York (BR, C1, C3, LA, LB, LSB, PA, PC, approved for new NYS regulations for insurance law; ethics and professionalism; diversity inclusion and the elimination of bias).
N.Y.: Learning the basics of flood insurance
Take a basic agent training flood course for Federal Emergency Management Agency agent certification. Register today for Flood Insurance—What is covered and makes it work, which will be taught by Mishell K. Magnusson, CIC, CISR, CPIA, AAI, FIPC. This webinar will be held on Thursday, Jan. 15, 2026, from 1-2 p.m. This course, which has been approved for CE credits in New York (1 BR, C3, PA, PC) features a New York state mandatory one-hour requirement per licensing period.
Events
N.Y.: Industry honors and Tiki Barber: Be at MetroRAP
Don’t miss PIANY’s MetroRAP 2026: this year, we’re excited to feature former New York Giants Running Back Tiki Barber as the event’s keynote speaker. Barber had a record-breaking 10-year career with the team and later found success in broadcasting and entrepreneurship. He will share with the audience his strategies for maintaining motivation and becoming the best MVP for your business. Also, PIANY will honor Steve Diamond (posthumously) and Kingstone Insurance Co.’s Meryl Golden for the Distinguished Insurance Service and Executive of the Year awards, respectively, for their valuable contributions to the insurance industry. This event will be one to remember: MetroRAP will be held on Thursday, Jan. 29, 2026, at the Sheraton Times Square Hotel. Register now and save 15%. Sponsor, exhibit, or advertise here.
Register now
Wednesday, Jan. 14, 2026: CTYIP Holiday Social
Wednesday, Jan. 28, 2026: NY-YIP MetroRAP Welcome Reception
Thursday, Jan. 29, 2026: PIANY MetroRAP—Interested in sponsoring, exhibiting or advertising?
Wednesday, Feb. 25, 2026: NJYIP Spring Warm-Up
Wednesday, March 1, 2026: CTYIP Axes & Accelerators
Save the date
March 19-20, 2026: Connecticut Convention—Interested in sponsoring, exhibiting or advertising?
Wednesday, April 22, 2026: NY-YIP Buffalo I-Day Welcome
Wednesday, May 6, 2026: NJYIP Golf Open
June 7-9, 2026: PIANJ | PIANY Annual Conference
Sunday, June 7, 2026: NJYIP Nitecap
Tuesday, June 9, 2026: NJYIP Fun Run
Monday, Aug. 3, 2026: NY-YIP Annual Golf Open
