N.Y.: Proposed legislation would expand business interruption coverage
Business interruption was the insurance buzzword for much of the COVID-19 pandemic. Many business owners closed their businesses without experiencing physical damage to their property. Insureds who sought coverage for interruption of their businesses...
Understanding N.Y.’s proposed anti-concurrent causation clause legislation
The New York state Senate is considering a bill, introduced by Sen. Neil Breslin, D-46, which would amend the Insurance Law concerning anti-concurrent causation clauses (S.9421). These clauses often create confusion and frustration for policyholders during claim...
N.Y.: Senate and Assembly insurance committees to consider parametric insurance
Last year, in a previous blog article, I explored the concept of parametric insurance and how its novelty presents an attractive insurance option for both insurers and consumers—especially when traditional insurance products may fall short in managing and mitigating...
N.Y.: Senate, Assembly insurance committees to consider dog-breed law amendment
Following victories for pet-loving homeowners in 2021 and 2022, when Gov. Kathy Hochul signed Chapter 545 of the Laws of 2021 and Chapter 679 of the Laws of 2022—which prohibited insurance companies from refusing to issue, renew or increase premiums, as well as...
Mary Anne Cecchetto returns as PIA Northeast’s director of membership
Over two months ago, PIA Northeast welcomed back Mary Anne Cecchetto as the new director of membership. Cecchetto has nearly 38 years of experience in the insurance industry, serving as a sales & retention representative for 14 years and 13 years as a membership...
N.Y.: PIA-priority photo inspection law took effect May 15
PIANY’s top-priority photo inspection law (A.3172-A/S.5889) went into effect on Wednesday, May 15, 2024. This legislation makes important changes to New York state's antiquated photo inspection system. The law allows insurance carriers to submit a waiver to...
Weekly Dispatch: May 16, 2024
PIA’s annual Market Trends Survey is now live: take it today! Connecticut has signed a new law to prohibit medical debt being reported to credit agencies. In New Hampshire, the Senate passed S.B.423, a bill that would ensure all parties involved in an auto accident the pertinent legal information. PIANY President Gary Slavin, CIC, LUTCF, CLTC, issued a statement about recent legislative victories in the state. 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.: Supplemental spousal liability bill passes state Assembly
Legal requirements related to offering supplemental spousal liability coverage may get a little less confusing in New York state. A bill (A.9407), which would make important changes to the supplemental spousal liability coverage in auto policies, passed the state...
‘Bridge Over Troubled Waters:’ An immersive course preview on navigating the hard market
Imagine yourself steering through the tumultuous waves of today’s insurance market. As an insurance producer, you’re not just managing risks; you’re navigating a sea of change characterized by escalating prices, tightening underwriting standards and reduced...
N.H.: Understanding S.B.423: Mandatory disclosure of insurance policy limits
In a recent legislative update, the New Hampshire Senate passed S.B.423, a bill that would introduce changes to improve transparency in the insurance industry—particularly in cases involving motor vehicle accidents. Sponsored by Sen. Sharon M. Carson, R-14, and...
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