N.H.: New boating safety law signed by Sununu
Gov. Chris Sununu signed H.B.1046, which targets boater safety, into law on June 11, 2024. Effective Wednesday, Jan. 1, 2025, this new law requires that boat operators involved in accidents resulting in death, injury, or property damage must immediately stop and...
An out-of-this-world Annual Conference
One of the most exciting insurance events in the cosmos was held June 2-4, 2024, at the Hard Rock Hotel Casino in Atlantic City: the PIANJ | PIANY Annual Conference. At the event, more than 1,600 insurance professionals gathered from around the region to forge...
N.Y. Legislature passes amended ‘wrongful death’ bill; awaits action from governor
The state Assembly and Senate passed the bipartisan A.9232-B and S.8485-B on June 4 and June 5, respectively—marking the third consecutive year the state Legislature has acted on bills to address the wrongful death issue. Sponsored by Sen. Brad Hoylman-Sigal, D-47,...
Weekly Dispatch: June 13, 2024
FEMA may run out of money before the end of this year’s hurricane season. The Institute for Legal Reform has issued a new report on the rising trend of nuclear verdicts. Connecticut is releasing funds to bolster economic development in historically underserved communities. Multiple new insurance bills have passed the New York Legislature, including the PIANY top-priority windstorm bill. Plus, you can read about state-specific industry news, advocacy updates, technical resources, accolades, education opportunities, and upcoming events in this issue of the Weekly Dispatch.
Adirondack Insurance Exchange financial stability: What policyholders need to know
In recent years, Adirondack Insurance Exchange has grappled with challenging market conditions and increasing claims payment costs—leading to a decline in its financial strength. This situation now has culminated in Demotech's—a financial analysis and rating company...
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...
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