N.Y.: Private flood-insurance market study passes Senate
Last week, the New York state Senate passed legislation that would direct the New York State Department of Financial Services to—in part—study the possibility of supporting a private flood insurance market. The bill (S.8167), sponsored by Sen. Neil Breslin,...
Carrier do’s and don’ts: Commission cuts
To anyone who works in the insurance industry, it is clear that the marketplace is going through a period of transition. The increasing occurrence of severe weather, growing interest rates, and increasing replacement cost are a few of the drivers that are creating...
N.Y.: Risk retention placement reports due March 15
New York State Insurance Law Section 5904 requires producers placing New York state business with risk retention groups not chartered in the state to report this business by Friday, March 15, 2024. To comply with New York State Insurance Law Section 5904(c), if a...
Weekly Dispatch: Feb. 15, 2024
The NU Property & Casualty Magazine is seeking to survey PIA members about industry challenges. PIACT hosts a Q&A session with CID Commissioner Andrew Mais, who speaks about the most pressing issues facing the industry. New Hampshire is reminding producers that they must complete their flood insurance education. Chapter amendments have been made to New York’s bait-and-switch law. Plus, you can read about state-specific industry news, compliance issues, advocacy updates, technical resources, accolades, education opportunities and upcoming events in this issue of the Weekly Dispatch.
N.Y.: Gov. Hochul proposes to increase short-term disability benefits
Since 1989, New Yorkers in need of temporary disability leave, including individuals with pregnancy and childbirth-related conditions, have been limited to a maximum benefit amount of $170 per week. This figure—unadjusted for over three decades—has diminished in its...
PIACT hosts Q&A lunch session with CID Commissioner Andrews Mais
PIACT hosted an interactive question-and-answer session last week with Connecticut Insurance Department Commissioner Andrew Mais. The event, moderated by PIACT’s Director of Government & Industry Affairs, Bradford J. Lachut, Esq., delved into a range of critical...
N.Y.: Chapter amendments made to PIA-priority ‘bait-and-switch’ law
In 2023, PIANY fiercely advocated for passage of legislation that would increase consumer protections during the automobile insurance underwriting process. PIA was successful in its efforts when New York Gov. Kathy Hochul signed into law S.5764-B, which takes aim at...
Conn.: Court finds no duty to defend automobile crash injuries under home and umbrellas policies
Recently, the Court of Appeals of Connecticut affirmed a decision by a lower court, which granted a motion for summary judgment in favor of several insurance carriers. It confirmed that these carriers did not have a duty to defend and indemnify two policyholders under...
Weekly Dispatch: Feb. 8, 2024
Triple-I has presented its quarterly report showing that commercial lines are outperforming personal lines. Learn the best way professional insurance agents can manage AI risks. We look back at the 2022-23 New Jersey legislative session, where PIANJ made major strides. New York state Sen. Neil Breslin, who serves on the chair of the Senate Insurance Committee, has announced that he will not seek reelection. Plus, you can read about state-specific industry news, issues, advocacy updates, technical resources, accolades, education opportunities and upcoming events in this issue of the Weekly Dispatch.
In review: New Jersey’s legislation session 2022-23
While PIANJ may have faced challenges in advancing the association’s top priority—a ban on the use of step-down provisions in personal auto policies—your association’s efforts during the 2022-23 session were not in vain. The organization has seen widespread success in...
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