The New York State Court of Appeals ruled last week that amendments to Regulation 187, which created a suitability and best interest standard for the sale of life insurance and annuity products, were constitutional. This decision ends a legal battle that started in...
In the case of Malzberg v. Josey et al., the Superior Court of New Jersey ruled that Uber Eats, the food delivery company, was not obligated by law to provide uninsured/underinsured coverage to drivers using its app. What happened? Scott Malzberg delivered food...
PIANJ volunteers spent August and September meeting with the members of the state Assembly Financial Institutions and Insurance Committee to discuss PIANJ’s top legislative priority: a ban on step-down provisions in personal auto policies. A step-down provision...
A bill (A-4643) that would amend the law related to physical damage inspections—often referred to as photo inspections—was introduced in the state Assembly last week. Currently, insurers are prohibited from providing physical damage coverage for an automobile prior to...
PIANJ-supported legislation, A-389, which would create a safe harbor for insurance producers and carriers working with a cannabis-related business was reported out of the state Assembly Financial Institutions and Insurance Committee—a major step toward the bill...
A letter ran recently in the Albany-based Times Union titled “Commentary: A repeal that would help fraudsters and hurt consumers.” The letter is an opinion piece written by Tod Neifert, an auto theft investigator, which calls for New York Gov. Kathy Hochul to veto...
Legislation that would prohibit the use of step-down provisions in personal auto policies was introduced in the state Senate last week. Generally, step-down provisions are found in some personal auto policies. They act to reduce the amount of coverage to which an...
The state Legislature may have been on summer recess, but its impact was still felt as two compulsory insurance bills were signed into law by Gov. Phil Murphy on Aug. 5. Increase in auto limits S-481, sponsored by Sen. Nicholas Scutari, D-22, and Assemblyman Louis...
At the end of June, Gov. Kathy Hochul signed legislation into law that directly impacts businesses with outstanding unpaid balances with the New York State Insurance Fund. What does the new law do? Under the new law (S.9096/A.10078), which goes into effect...
Two bills passed the New Jersey state Legislature last week, which would impact the personal auto and commercial insurance marketplace, respectively. The auto limits bill was amended in the state Senate. Increase in auto limits S-481, sponsored by Sen. Nicholas...
