News
Hurricane Debby forecasted to bring rain to the Northeast
The most recent storm this hurricane season, Hurricane Debby, made landfall earlier this week in Florida as a Category 1 Hurricane. It has triggered flooding in cities in Georgia and South Carolina and is now slowly traveling up the East Coast. It is projected to arrive in the Northeast this Saturday, with rain and flooding forecasted for all five states in PIA Northeast’s footprint. For this highly active hurricane season, check out PIA’s Hurricane Info Central, which has resources to help your clients and your agency during the hurricane season, which runs June 1-Nov. 30. If you would like to send customized materials to your clients, email PIA’s Design & Print.
FEMA issues statement on National Resilience Month
The Federal Emergency Management Agency has issued a statement on National Resilience Month, to highlight the significant investments and policies that help state, local, tribal and territorial partners across the nation build disaster resilience. The Biden-Harris Administration remains committed to investing in nationwide resilience, preparing communities, training the country’s workforce and its response capabilities at all levels.
CrowdStrike rejects claim by Delta Air Lines
In reporting from Reuters, American cyber security firm CrowdStrike rejected a claim by Delta Air Lines over the flight disruptions triggered by the July 19 systems outage. The CEO of Delta, Ed Bastian, claimed that the outage cost the company $500 million and that the company will be taking legal action to receive compensation from CrowdStrike. Due to the outage, Delta canceled over 6,000 flights, which impacted 500,000 travelers. CrowdStrike rejects these claims, arguing that it acted appropriately and was not grossly negligent. Read more about navigating operational risk in cybersecurity in a related article on PIA Northeast News & Media.
Conn.: State funds to protect acres for green spaces
Gov. Ned Lamont announced that his administration is awarding $14.5 million in state grants to aid in the purchase and protection of more than 2,626 acres of open space through 17 projects in 18 municipalities across Connecticut on July 31, 2024. Additionally, $343,015 in state grants are being awarded to create two new urban community green spaces in Stratford and Thomaston. These funds are being provided through the state’s Open Space and Watershed Land Acquisition Grant Program and the Urban Green and Community Gardens Grant Program, both of which are administered by the Connecticut Department of Energy and Environmental Protection.
N.Y.: Funds announced for July floods, tornadoes
Gov. Kathy Hochul announced up to $11 million in emergency assistance for eligible homeowners and municipalities in seven counties impacted by a series of severe weather events on July 31, 2024. From July 10-16, 22 tornadoes, severe thunderstorms, and flooding affected multiple upstate communities. This funding follows the governor’s request for a federal Emergency Declaration to support response and recovery operations in 15 counties. To help navigate through these disasters, PIA Northeast members can access Planning for the interruption of business operations due to a catastropheand Questions that business owners may have about their property loss claim following a catastrophic event, which are in the PIA QuickSource library.
Vt.: Reconstruction efforts underway after July storms
Vermont has requested assistance in its recovery efforts after a series of storms and flooding in July. On Aug. 1, 2024, the Vermont Department of Economic Development requested business that endured damages from July 2024 flooding to complete the department’s Flood Damage Survey for Businesses to capture the scale of the damages. Then, Aug. 2, 2024, saw the state submit a request for a Preliminary Damage Assessment from the FEMA to determine whether the state qualifies for a federal major disaster declaration for flooding and resulting damage on July 30-31, 2024. Additionally, on Aug. 3, 2024, Gov. Phil Scott requested for a federal disaster declaration for individuals and communities recovering from flooding on July 10-11, 2024.
Advocacy
N.Y.: The windstorm definition campaign—so much done, but still more to do
PIANY has made major strides with its windstorm campaign this year. For years, it has been a priority of the association to see a standardized definition of a windstorm deductible in New York state. Thanks to our tireless advocacy efforts, S.4199, a bill that would standardize this definition, passed both houses of the state Legislature and now waits on Gov. Hochul’s desk. However, this isn’t where our efforts end: the bill still needs to be signed into law. To learn more about what needs to be done next, and how you can help, visit the PIA Northeast News & Media blog.
PIANY meets DFS on Adirondack, Mountain Valley’s marketplace exits
Representatives of PIANY met with officials from the New York State Department of Financial Services to discuss the impending exit of Adirondack Insurance Exchange and Mountain Valley Insurance Company from the New York marketplace. This meeting comes in response to growing concerns within the industry regarding the financial stability of these carriers and the impact on policyholders and agents. Both Adirondack and Mountain Valley have been grappling with financial difficulties for some time. The DFS has requested that PIANY and its members keep the department informed of any challenges encountered when placing Adirondack policies with other carriers.
Technical
Your client declares bankruptcy: What’s next?
Bankruptcy: It’s a scary word to see, especially when you’re an independent agent and it just so happens that a client of yours announces insolvency. In the event of a client declaring bankruptcy, there are a few different, important details for you to keep track off, including the type of bankruptcy your client is declaring and the date he or she entered it. For more information, PIA Northeast members can access What can you do when a client files bankruptcy? in the PIA QuickSource library.
Educating insurance agents
Conn./N.J./N.Y.: Get ready for hybrid two-day Ruble Graduate Seminar at Turning Stone Casino
Mark your calendar for the 2024 Ruble Graduate seminar, running from Aug. 21-22, 2024. This seminar will walk attendees through advanced and specialty topics, feature a network of CICs and CRMs to connect with and, if you are attending in-person, give you the opportunity to explore a wonderful venue. The webinar version of this course has been approved for continuing-education credits in Connecticut and New Jersey. The in-person version of this course has been approved for CE credits in New York. For detailed CE information, contact the National Alliance at (800) 633-2165.
Register now
Wednesday, Aug. 14, 2024: CTYIP Summer Connections
Thursday, Aug. 29, 2024: New Hampshire Symposium—sponsorship opportunities
Tuesday, Sept. 10, 2024: NY-YIP Albany Fall Soiree
Monday, Sept. 23, 2024: PIANJ Golf Classic
Thursday, Oct. 3, 2024: CTYIP Golden Gala Awards
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
Save the date
Wednesday, Nov. 6, 2024: Hudson Valley RAP—Interested in sponsoring, advertising, or exhibiting?
Tuesday, Dec. 3, 2024: NJYIP Holiday Social
