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...
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...
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...
Former New York state Sen. James L. Seward, a prominent leader in New York state Legislature, passed away on July 27, 2024, at the age of 72, after a long battle with cancer. Seward’s distinguished career in public service spanned over three decades, during which he...
In a significant legal development, Suffolk County state Supreme Court Judge Alison Napolitano temporarily halted a law that would limit the outside income of New York state lawmakers. This decision, which was rendered on July 17, 2024, marks a notable victory for...
The 2024 legislative session in Connecticut was a tumultuous one for insurance-related matters. The Connecticut legislative calendar alternates between a long-session year and a short-session year. The 2024 session was a short session—characterized by two significant...
Staged construction accidents have become a growing concern in New York, significantly affecting the property/casualty insurance sector. This fraudulent activity undermines the integrity of the construction industry and leads to substantial financial repercussions for...
In today’s digital age, businesses are increasingly reliant on technology to operate efficiently. However, this dependence on digital systems also opens new avenues for risk, particularly in the form of cyberthreats. Look no further than the recent news of a global...
In recent years, insurance companies have increasingly turned to satellite imagery to evaluate the conditions of properties—particularly roofs—for underwriting purposes. This technological resource allows insurers to assess large numbers of properties from the air...
Summer is the perfect time for outdoor home improvement projects, and one of the most critical components of your home is the roof. It provides essential protection against the elements and contributes to the structural integrity of your property. When it’s time to...
