N.Y. Legislature passes owner-controlled insurance bill
Recently, the New York state Senate passed A.10362B/S.9327 which, if signed into law, would amend the Insurance Law concerning the authorization and regulation of owner-controlled and contractor-controlled insurance programs. This bill, introduced by Sen. Sean Ryan,...
Supplemental spousal liability bill passes N.Y. state Legislature, moves to governor’s desk
The confusion around supplemental special liability coverage that has existed in New York state since last year may be alleviated soon. Legislation (A.9407/S9021), which would make important changes to SSL coverage in auto policies, has passed the New York...
N.Y.: BI coverage expansion, causation clause reform bills pass through Legislature
Recently, the New York state Legislature has passed two significant bills poised to reshape the landscape of property/casualty insurance within the state. These legislative advancements address crucial issues in business interruption coverage and anti-concurrent...
N.Y. Groundbreaking parametric insurance bill passed, await action from the governor
The New York state Legislature has passed A.10344 that would amend the Insurance Law to incorporate parametric insurance. This bill, introduced by Sen. Skoufis, D-42, and Assemblywoman Gina Sillitti, D-16, at the request of the New York State Department of Financial...
N.Y.: A brief guide for major insurance bills that passed this legislative session
The 2023-24 legislative session has officially come to a close in New York state. True to form, the Legislature worked tirelessly, passing hundreds of bills on the last day of the session. During the session, PIANY was committed to supporting measures that would...
There and back again: An E&S journey
In the 2023 E&S edition of PIA Magazine, I wrote about the perils and pitfalls that insurance producers face when placing business in the nonadmitted—or excess & surplus lines—marketplace through the lens of Lord of the Rings. [EDITOR’S NOTE: You can access...
PIANY-top priority windstorm bill passes N.Y. Legislature: A triumph for consumers, agents
In a significant legislative achievement, the New York state Senate has passed S.4199, which would establish a standardized definition of windstorm for homeowners insurance policies. This bill was the top legislative priority for PIANY for the 2024 session. The...
Weekly Dispatch: June 6, 2024
New report shows that there is some downward pressure on the property-catastrophe reinsurance market. Safest drivers ranked by state: four PIA Northeast states are in top five. Connecticut announces vote on funding to curb neighborhood flooding in Portland. PIANJ elects its officers for the 2024-25 administrative year. The PIANJ | PIANY Annual Conference was held from June 2-4 and had over 1,600 attendees: thank you for making it such a success! 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.
N.Y.: PIA-priority C-MAP bill passes state Legislature
Property owners along New York state’s Great Lakes and rivers may now have increased insurance options soon. The New York state Assembly passed A.9821, sponsored by Assemblyman Steven Otis D-91, on Wednesday. This legislation is set to widen the eligibility criteria...
New Jersey Supreme Court: E-scooters are not covered by no-fault law
When it comes to navigating the streets, electric scooters, or LSESs, are as trendy as they are tricky. As the popularity of LSES and their presence on the roadways increases, it became all but certain that questions about insurance coverage would arise. For example,...
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