Identify risks in emerging niche industries
Emerging niche industries are reshaping markets, offering innovative solutions to unique challenges. However, these industries often face risks distinct from traditional sectors. From mental health challenges to regulatory uncertainty, the fast pace of growth can...
PIANY’s fight against insurance fraud: lowering premiums for consumers
High insurance premiums are a growing concern for both policyholders and insurance professionals. While many factors contribute to rising costs, fraud and legal loopholes often play a significant role. That’s why PIANY is advocating for legislative reforms that target...
PIANY MetroRAP: Building foundations
More than 300 insurance professionals attended PIANY’s MetroRAP on Jan. 29, 2025, at the Sheraton New York Times Square Hotel. During the daylong event, attendees were able to take advantage of networking opportunities, gain powerful educational knowledge on insuring...
Weekly Dispatch: Jan. 30, 2025
FEMA issues new flood standards to boost resilience. LA fires may hit over $40 billion in insurance damage according to experts, analysts. PIA issues its 2025 policy priorities. New Jersey ends its state of emergency over winter weather. New York’s DFS updates its declination forms for supplemental spousal liability insurance. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources, education opportunities and upcoming events in this issue of the Weekly Dispatch.
Surveillance to big data: Tools to mitigate fraud
Insurance fraud costs billions of dollars each year, driving up insurance premiums and straining industry resources. From staged accidents to false claims, these schemes harm insurance producers and honest policyholders. Technology is changing the game by enabling...
Market Trend Survey 2024: Insights on premiums, underwriting and nonrenewals
The 2024 Market Trends Survey—conducted across six Northeastern states—collected responses from 118 insurance professionals to gauge shifts in premiums, underwriting guidelines, remarketing efforts and nonrenewals across major lines of business. The survey, targeting...
Weekly Dispatch: Jan. 23, 2025
Extreme cold weather continues to chill Northeast. Read about PIACT’s agenda for Connecticut’s legislative session, which includes simplifying E&S coverage placement. N.H.: New bill would address rental car coverage bill. New York’s State of the State address may have insurance implications, includes affordable housing and risk mitigation initiatives aimed at reducing losses. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources, accolades, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.
N.H.: Understanding the recently introduced rental car coverage bill
On Jan. 8, 2025, the New Hampshire General Court signaled the beginning of the 2025 legislative session. With this came the introduction of H.B.434, a new bill that would amend RSA 264:18, which if passed, promises significant relief and convenience for consumers...
N.Y.: Addressing insurance costs, disaster preparedness: A look at Hochul’s initiatives
The start of New York state’s legislative session comes with its fair share of traditions and responsibilities. From the swearing-in of new assemblymembers and senators to the unveiling of committee rosters, these rituals set the stage for the year ahead. Last week,...
Conn: Bill would ban credit history as an underwriting factor for homeowners insurance
To enhance consumer protections and promote fairness, a new bill has been introduced in Connecticut that would impact what factors insurers can use in underwriting. If passed, this legislation would amend Title 38a of the general statutes and would prohibit insurers...
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