NY: Kemper market withdrawal update
PIA has received reports from association members who are being denied the ability to fully process endorsements on Kemper’s online “AgentInside” portal due to their status as a “terminated agent.” PIA subsequently reached out to the New York State Department of...
CID issues bulletin on aerial imagery and underwriting
On March 19, 2024, the Connecticut Insurance Department issued a bulletin to address the use of aerial imagery by insurance carriers in underwriting homeowners insurance, specifically in relation to decisions about roof condition. This bulletin responds to a rise in...
N.Y.: Have you met TED: Part Deux
Back in January, I wrote about the release of the New York Gov. Kathy Hochul’s Executive Budget—in particular, the release of transportation, economic development and environmental conservation items, referred to as the TED. Fast forward to the end of April and New...
Renting a car for your vacation in Canada? Here’s what that means for your insurance
Have you thought about visiting Canada? Our friendly neighbor to the north is an extremely popular travel destination for Americans. The Seattle Times, has reported that 9.1 million Americans traveled to Canada in 2022. While Mexico took the lion’s share of American...
Weekly Dispatch: April 18, 2024
Triple I: Dog injury claims have risen in 2023 from 2022, with payouts totaling $1.12 billion. Can AI assist with the talent shortage issues facing the claims industry? PIACT held its Connecticut Convention, seeing the election of new PIACT and CTYIP officers and board members, and the presentation of the Awards of Distinction. New Jersey’s digital equity plan has been accepted by the federal government. PIANY priority excess-line reform bill heads to Senate floor. Plus, you can read about state-specific industry news, advocacy updates, technical resources, accolades, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.
N.Y.: Two PIA-supported bills introduced in state Legislature amid budget negotiations
The New York state Legislature might be in the process of negotiating the budget, but it took the time to introduce two PIA-supported bills that could have a significant impact on the homeowners and auto marketplace, respectively. C-MAP Assemblyman Steven...
PIANY-priority excess-line reform bill reported out of committee, heads to Senate floor
Over the last several legislative sessions, PIANY has been pushing for reforms to the way business is placed in the excess & surplus marketplace to ensure that agents and consumers have access to the insurance producers they need. During the 2021-22...
Is AI the answer to talent shortages in claims?
Talent shortages continue to rank in the top 10 concerns of insurance industry stakeholders.[1] According to the U.S. Census Bureau 12,000 people per day will turn 65 in 2024, calling this milestone “Peak 65.” Peak 65 is expected to lead to talent shortages in the...
Good times, great connections, new administrations at Connecticut Convention
PIACT’s annual Connecticut Convention returned to Foxwoods Resort Casino, Mashantucket this year. The event, which was held at the end of March, featured hundreds of agents, company representatives, exhibitors, and more industry professionals from across the state....
Weekly Dispatch: April 11, 2024
4.8 magnitude earthquake rocks Northeast—are your clients calling you with questions about coverage options? The 2024 hurricane season is predicted to be “very active.” PIACT met with legislators and Connecticut Insurance Department representatives at its Legislative Reception. New York announced that $412 million in bonds and subsides for the renovation and construction of 1,100 homes. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources, accolades, upcoming events and information you may have missed in this issue of the Weekly Dispatch.
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