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...
PIACT’s legislative priorities for 2025: streamlining regulations, protecting consumers
As we enter the 2025 legislative session, PIACT is sharpening its focus on advocating for reforms that will enhance efficiency, modernize outdated practices and provide better protections for insurance consumers throughout the state. Among the organization’s top...
Weekly Dispatch: Jan. 16, 2025
The Los Angeles fires have caused billions of dollars of insurance losses so far. PIWA, NESLA announce merger and expands outreach throughout Northeast. More winter weather updates for the Northeast. Gov. Kelly Ayotte inaugurated in New Hampshire. Learn more about PIA’s priorities for the 2024-25 New Jersey legislative session. New York implements it’s first in the nation PPL policy; PIANY pushes for outdated anti-arson regulations to be repealed. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources, education opportunities, upcoming events and information you may have missed in this issue of the Weekly Dispatch.
Sen. Jamaal T. Bailey: Chairing the New York State Senate Insurance Committee
Sen. Jamaal T. Bailey has been named chair of the New York State Senate Insurance Committee, a role that will position him to shape legislation affecting the state’s insurance industry. Representing New York’s 36th state Senate District since 2016, Bailey’s...
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