News
Another year, another successful Connecticut Convention
Over 300 insurance professionals from the Northeast gathered at this year’s PIA Connecticut Convention from March 19-20, 2026, at the Foxwoods Resort Casino in Mashantucket for an exciting insurance event. Festivities started the evening before the convention on March 18, with the CTYIP Welcome Reception | Axes & Accelerators—insurance professionals enjoyed go-karting and axe-throwing at the Monza Garage at Foxwoods. For the next two days, attendees learned from insightful, CE-approved education sessions, found novel business solutions at the sold-out trade show and networked with their fellow peers at events like the lunch and networking receptions. The convention also honored this year’s Awards of Distinction winners, and new officers and directors were elected for PIACT and CTYIP (see below). PIA would like to extend thanks to everyone who attended: We hope to see you again next year! Plus, watch your PIA publications for more on the convention, including photos.
PIACT elects officers, directors for 2026-27
PIACT elected Kathleen Bailey, CPIA, TRA, CLCS, ACSR, as president during the association’s Annual Convention last week. Bailey is an agent with The Russell Agency LLC, in Southport. Officers also elected were: Treasurer: Jeffrey Krar; and Secretary: Anthony DeSalva. Kevin McKiernan, CIC, CPIA, will serve as immediate past president. Raymond Chase, CLCS, was elected to the board of directors. James Kannengeiser, director of national partners for Hagerty Insurance, will join the PIACT board of directors in May 2026.
CTYIP elects officers and board of directors
CTYIP elected its officers and board of directors at the PIACT Connecticut Convention last week. Robin Ricciardone of RPS Cowles & Connell in Meriden, will serve as president; Jacklyn Meeker of The Russell Agency LLC in Southport, will serve as president-elect; Kieran Buttrick of Hagerty Insurance in Stratford, will serve as vice president; Sean Walsh of Broad Range Benefit Group in Shelton, will serve as treasurer; Ryan Keating of Keating Insurance in Hartford, will serve as secretary; Justin Sloan of the Nesso Group in Milldale, will serve as immediate past president. Elected to serve on the CTYIP board of directors are: Frances Batista of Muni Insurance in Waterbury; Nicole Deissler of Chubb in Southington; Michael Kelly of CRC Insurance Services in Middletown; Malorie Leone of Atlanta Casualty Insurance in New Britain; Jessica Martino-Meyer of Crystal Restoration of NE in Southington; Stanley Wong of Capital Premium Finance in Newtown; and Christine DeFelice, ex-officio of ProMax Underwriters in Danbury.
March is Flood Awareness Month: Are you and your clients ready?
It’s almost the end of March, but don’t forget that it’s also Flood Awareness Month. Snowpack is melting across the country, and heavy spring rain are just around the corner. Flooding can pose significant threats to your clients’ home, and flooding isn’t covered by a standard homeowners policy. Make sure your clients are prepared: For PIA Northeast members who are looking for help on how to answer their clients’ questions about flood insurance, they can access the PIA Flood Insurance Tool Kit. PIA also offers consumer-facing documents that can be shared with clients.
AM Best: US p/c underwriting income tripled in 2025
A new report from AM Best has found that the property/casualty industry recorded a $60.9 billion net underwriting gain in 2025, nearly tripling the $22.1 billion posted from last year. The report also found that the p/c industry’s combined ratio improved significantly by 3.7 percentage points to 92.2 in 2025. Catastrophe losses accounted for an estimated 7.6 points on the 2025 combined ratio, down from an estimated 8.8 points in 2024.
JD Power: Homeowners claims satisfaction improves as repair times improve
A new study from JD Power—the “2026 U.S. Property Claims Satisfaction Study”—has found that overall customer satisfaction has improved for the property claims process as repair and payment cycle times improve. The report found that repair times decreased from 32.4 days to 29.6 days, and that final payment time is down from 44.1 days to 40.7 days. The adoption of digital tools also has contributed to increased satisfaction. The report found that despite 19% of homeowners insurance customers experiencing increased cost, overall customer satisfaction in the industry still rose 20 points, reaching 720.
Swiss Re: 92% of global insured losses in 2025 were from secondary perils
The reinsurance broker Swiss Re Institute found that in 2025, 92% of total global natural catastrophe insured losses were derived from secondary perils—such as “wildfires, severe connective storms and floods.” These losses amounted to $107 billion in damages: while global insured losses were below the long-term natural catastrophe loss trend, but they still were elevated due to a high-frequency of events impacting dense, high value area. Economic losses for 2025 totaled $220 billion.
March consumer content round-up
Have you had the chance to review March’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. This month, your association published the following articles on PIA Northeast News & Media: Don’t let your property just wash away, Set sail with the right coverage for your boat and Disasters beyond your homeowners/renters policy.
Compliance
N.Y.: New law requires retail businesses to accept cash
A law, which recently went into effect, now requires retail stores and food businesses to accept cash payments. A “retail establishment” is broadly defined as any business where consumer commodities are sold or where services are provided at retail. This definition could include insurance agencies, as they sell insurance services to consumers. The intent of the law is to make sure that no one is left behind as the economy becomes ever more cashless—a trend that picked up during the COVID-19 pandemic. The law does offer businesses certain exceptions regarding cash payments: Businesses can decline bills that are larger than $20, and online or over-the-phone transactions do not need a cash option. Businesses also can provide customers with an option to convert cash into prepaid cards (i.e., reverse ATMs). PIANY is working on resources to help its members determine if they are affected by this new law. Watch your PIA publications for more details.
N.Y.: Cyber security compliance certification deadline April 15
Those individuals who hold a New York state insurance license—covered entities—including nonresident licensees, have until Wednesday, April 15, 2026, to certify their compliance with the requirements of New York state’s cyber security regulation (23 NYCRR 500) for calendar-year 2025. This filing requirement is for all licensees not covered by another covered entity’s information system. This certification, which is required annually, must be filed via the New York State Department of Financial Services’ web portal. Interested in learning how to navigate 23 NYCRR 500? PIA Northeast has written a series of articles on the topic.
Advocacy
N.J.: New bill would target premium increases after not-at-fault auto accidents
A newly introduced bill in New Jersey—A-4570—would prohibit auto insurers from increasing premiums for policyholders involved in not-at-fault automobile accidents. The bill is sponsored by Assemblywomen Rosaura Bagolie, D-27, and Annette Quijano, D-20. Currently, policyholders assume that a not-at-fault accident means their insurance costs won’t go up, but that is not necessarily the case. The bill, if passed, would close the gap between expectations and outcomes in a not-at-fault accident.
N.Y.: One-house budgets released, negotiations begins
The New York state Assembly and Senate have each issued their budget proposals in response to Gov. Kathy Hochul’s Executive Budget. From there, the governor and legislative leaders of both chambers will negotiate toward a final budget. The Assembly one-house bill did not include anything regarding insurance, keeping in line with the chamber’s long-standing practice of noting including nonfiscal policy proposals in the budget. The Senate, meanwhile, took a more active role in engaging with the Executive Budget’s insurance positions by modifying, accepting and rejecting proposals.
Technical
Adapting loss control techniques for your own business
Loss control is defined as “a risk-management technique that seeks to reduce the possibility that a loss will occur and/or reduce the severity of those that do.” Depending on the size of your agency, you may not be able to hire a consultant who can provide loss cost services for you, but independent insurance agents can implement loss control techniques in their day-to-day operations. To learn more about loss control, PIA Northeast members can access Loss control for producers in the PIA QuickSource Library.
Educating insurance agents
Guiding clients through their homeowners insurance purchase
If you are an independent insurance agent who is looking for expertise on how to guide clients through the trickier parts of purchasing homeowners insurance, then be sure to attend 2026-2027 CISR PR: Insuring Personal Residential Property. This webinar will be taught by Steven D. Lyon, CPCU, CIC, CRM, CRIS, AAI, ARM, AIS, MLIS, AFIS, on Friday, April 10, 2026, from 8 a.m.-4:15 p.m. This course has been approved for continuing-education credits in New Jersey (7 GEN; for CISR designees: the DOBI will award 12 CE credits for each full year of good standing); and New York (7 BR, C3, PA, PC). It has been submitted for CE approval in Connecticut (7 PC).
Register now
Monday, April 20, 2026: YIP Education: From Bud to Table (and Tap): Insurance Issues in the Cannabis Industry. To register: Connecticut–YIP Members, Others | New Jersey–YIP Members, Others | New York–YIP Members, Others
Wednesday, April 22, 2026: PIANJ Women’s Leadership Alliance Golf Clinic
Wednesday, April 22, 2026: NY-YIP Buffalo I-Day Welcome
Wednesday, May 6, 2026: NJYIP Golf Open
May 11 | May 18 | June 8: Emerging Leaders Series:Connecticut | New Jersey | New York
June 7-9, 2026: PIANJ | PIANY Annual Conference—Want to sponsor, exhibit or advertise?
Tuesday, June 9, 2026: NJYIP Fun Run at Annual Conference
Tuesday, June 23, 2026: CTYIP Golf Open
Thursday, July 23, 2026: NJYIP Summer Breeze Bash
Save the date
Sunday, June 7, 2026: NJYIP Nitecap at Annual Conference
Monday, Aug. 3, 2026: NY-YIP Annual Golf Open
