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...
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...
Best practices to assist clients during a claim
Rarely is the role of the insurance agent or broker ever more important to a client than when that client has experienced a claim. Guiding clients through the claims process is a critical component of the agent’s or broker’s job. It involves not just a deep...
4.8 magnitude earthquake hits Northeast
On Friday, many Northeasterners felt the effects of a 4.8 magnitude earthquake, which rocked our world with shaking buildings from Philadelphia to New Jersey to New York City to Connecticut to Westchester, N.Y. The earthquake was centered near Whitehouse Station,...
The insurance implications and economic impact of the Francis Scott Key Bridge collapse
On the early morning of March 26, 2024, the container ship MV Dali hit the Francis Scott Key Bridge in Baltimore, Md. The bridge collapsed within the span of a minute, sending the bridge, cars, machinery, cargo, and even people in the chilly depths of the Patapsco...
N.Y.: Navigating the home stretch: New York state’s budget talks and the impact on insurance
As the calendar turns its pages toward the end of March, New York state finds itself in the thick of its budget negotiation process, with the April Fools’ Day deadline looming just six days away. During this time, the New York state Legislature finds itself juggling...
N.Y.: PIA-priority New York City anti-arson bill passes the state Assembly
PIA-supported legislation (A.8831) that would repeal the outdated anti-arson application in New York City, was passed by the New York state Assembly (by a vote of 147-0) on March 25, 2024. The current anti-arson law In response to a surge in insurance fraud linked to...