N.Y.: PIANY advocacy successfully removes insurance application from new insurance disclosure law
Gov. Kathy Hochul signed the Comprehensive Insurance Disclosure Act (S.7052/A.8041) into law last week. The new law requires the defendants in civil lawsuits to provide plaintiffs with complete information for any insurance policy through which a judgment could be...
N.Y.: Legislative terms you should know for New York’s upcoming legislative session
This year, Gov. Kathy Hochul is negotiating the budget for the first time. Additionally, it’s an election year for all legislators in the New York state Legislature, the governor, the lieutenant governor, the attorney general and the state comptroller; and it’s a...
N.Y.: Election terms you should know for New York’s upcoming elections
This is a big election year in New York—all 213 state legislators are up for reelection, and this is the first time in 12 years that the governor’s seat is open. And, the lieutenant governor, attorney general and the state comptroller are up for reelection, too. To...
Canceling personal policies—the rules to follow
When insurers choose to cancel—or not to renew—a personal insurance policy, they need to ensure that they comply with the laws of the state in which they do business. Agents need to know these requirements to ensure they and their clients receive the notice of...
Updated: CE changes in New York: What does it mean?
Recently, the New York State Department of Financial Services announced that it has finalized changes to the continuing-education requirements for insurance producers. PIANY has compiled a list of frequently asked questions to help its members prepare for these...
Five funny holiday- and winter-time claims
After determining that everyone is safe and getting the claims process started, there are some claims submissions that can give an agent a belly laugh once he or she gets off the phone. Here are some comical examples of winter-season claims: No. 1: A very hungry pup....
Weekly Dispatch: Dec. 22, 2021
AM Best predicts insurers can manage tornado losses. PIA teaches agents more about the National Flood Insurance Program’s Risk Rating 2.0. And, Gov. Lamont announces commission to approve support for small businesses. Plus, you can read about state-specific industry news, advocacy updates, technical resources and upcoming events in this issue of the Weekly Dispatch.
The holidays are full of claims opportunities
We hope that everyone has a safe and warm holiday season without any mishaps—but sometimes, things go awry. And, just what are the most common claims this time of year? For the answer, read on: No. 1: Fires. At this time of year, people tend to use more candles, light...
Conn.: NCCI 2022 WC loss cost decrease of 14.1% approved
The Connecticut Insurance Department approved the proposed workers’ compensation loss cost filing made by the National Council on Compensation Insurance, consisting of an overall 14.1% decrease. The CID also approved an overall assigned risk rate decrease of 8.2%....
COVID-19: How life insurance sales are trending
Communities around the globe first faced the threat of COVID-19 in late 2019. At the time, no one knew how bad it was going to be, but as cities overseas (e.g., China and Italy) began to experience the effects of the pandemic—and lockdowns were instituted to blunt the...
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