All homeowners should brace themselves for sticker shock next time their homeowners policy is up for renewal. Inflation’s effects on the construction industry and the broader economy extend to premiums charged on insurance policies. While it may cost more now, the...
Generally, business owners, agency owners, and business leaders have several critical success factors to consider as they manage and grow their businesses. Some essential success factors are apparent (e.g., profitability, providing a good product or service or...
Do you run a short-term rental property? Think AirBNB or VRBO. These properties bring income to owners and operators, but they require constantly tracking a changing legal landscape—especially in popular rental areas. It’s vital to keep tabs on changes to local laws...
Hurricane Debby makes its way slowly up the East Coast: it is forecasted to bring rain to the Northeast later this week. Connecticut awards state grants to protect acres for community green spaces. PIANY meets the DFS on the exits of Adirondack Insurance Exchange and Mountain Valley Insurance Company from the marketplace. Also, learn more about forwarding PIANY’s campaign to pass legislation that would standardize the windstorm definition. Plus, you can read about state-specific industry news, advocacy updates, technical resources, education opportunities and upcoming events in this issue of the Weekly Dispatch.
It is shaping up to be a pivotal year for New York state’s insurance industry, with the establishment of a single definition of windstorm in homeowners policies on the horizon. This is a monumental step forward, not just for insurance professionals, but...
The hard market has been a recurring topic of conversation over the last several months as something impacting insurance producers nationwide significantly. Diving further into the topic, the recent pattern of carrier withdrawals from various markets has become rather...
For several years, PIANY has been on the front lines as an advocate for the standardization of the windstorm deductible definition in New York state. It has been a top legislative priority for the association. PIANY members and staff members have meet with countless...
Representatives of PIANY met recently 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...
New report examines the issues driving up homeowners insurance costs. U.S. senators issued a letter to the FTC pressing it to investigate automakers disclosing driving data. New Jersey launches initiatives regarding artificial intelligence. In New York state, PIA Northeast offers resources to help members educate their clients about Adirondack Insurance Exchange’s withdrawal from the New York insurance market. Vermont offers resources to help residents recover from flooding—PIA Northeast offers resources to help members educate their clients about the importance of flood insurance. Plus, you can read about state-specific industry news, advocacy updates, technical resources, an in memoriam to former New York state Sen. James Seward, education opportunities and upcoming events in this issue of the Weekly Dispatch.
Dear PIANY members, I’m writing to you to discuss the recent announcements from Adirondack Insurance Exchange and AmGuard Insurance Co., regarding their decisions to withdrawal from specific insurance marketplaces. When the announcement was made, an email was sent to...