Business interruption was the insurance buzzword for much of the COVID-19 pandemic. Many business owners closed their businesses without experiencing physical damage to their property. Insureds who sought coverage for interruption of their businesses...
The New York state Senate is considering a bill, introduced by Sen. Neil Breslin, D-46, which would amend the Insurance Law concerning anti-concurrent causation clauses (S.9421). These clauses often create confusion and frustration for policyholders during claim...
Last year, in a previous blog article, I explored the concept of parametric insurance and how its novelty presents an attractive insurance option for both insurers and consumers—especially when traditional insurance products may fall short in managing and mitigating...
Following victories for pet-loving homeowners in 2021 and 2022, when Gov. Kathy Hochul signed Chapter 545 of the Laws of 2021 and Chapter 679 of the Laws of 2022—which prohibited insurance companies from refusing to issue, renew or increase premiums, as well as...
Legal requirements related to offering supplemental spousal liability coverage may get a little less confusing in New York state. A bill (A.9407), which would make important changes to the supplemental spousal liability coverage in auto policies, passed the state...
In a recent legislative update, the New Hampshire Senate passed S.B.423, a bill that would introduce changes to improve transparency in the insurance industry—particularly in cases involving motor vehicle accidents. Sponsored by Sen. Sharon M. Carson, R-14, and...
In the last legislative session, PIANY had some tremendous legislative successes: it’s important to look back at our victories as an association, as it reminds us of what we can achieve as a unified group of independent agents. Priority photo-inspection bill signed...
As S.B.462 is set to be considered by the House for a vote this Thursday, it’s important for association members to recognize its potential impact on our industry. The bill, which emerged from the House Judiciary Committee with a 11-9 recommendation to pass without...
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...
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...