Like most things, insurance policies should be straightforward to understand. If you were to educate yourself about policies or ask your independent agent to clarify something, it shouldn’t lead to you agonizing over the details. In the case of homeowner’s insurance...
ALBANY, N.Y.—Gary Slavin, CLTC, CIC, LUTCF, of Massapequa N.Y., was elected president of the Professional Insurance Agents of New York Wednesday at the association’s annual business meeting. Slavin is a financial services representative and investment advisor...
Strangely, the legal concept of spousal liability has been in the news recently. This is due to a recent change in New York state law that will now require all auto insurance policies issued in the state to provide coverage for supplemental spousal liability—unless a...
The iconic New York City skyline is renowned for its dazzling lights, towering skyscrapers—and unfortunately its unsightly construction cranes and scaffolding. On July 26, 2023, a crane—situated atop a 45-story building in Midtown Manhattan—abruptly caught fire and...
In May, an application for an overall loss cost decrease of 2.6% was submitted to the New York Department of Financial Services by the New York Compensation Insurance Rating Board. The DFS approved the application as filed with an effective date of Sunday, Oct. 1,...
The New York State Department of Financial Services published a revised proposed second amendment to 23 NYCRR 500—colloquially referred to as New York’s cyber security regulation. The publication of the revised second amendment comes over six months after the...
The New York state Legislature went into recess for 2023 when the Assembly adjourned in the early morning hours on June 9. While Assembly members have returned to the Capitol this week to address a few outstanding items, (including a PIA-priority issue!) For most...
The Grieving Families Act passed both houses of the New York state Legislature in June 2023. It proposes sweeping changes to New York’s wrongful death statute, which has been on the books since 1847. Currently, under the law, compensable damages in wrongful death...
Some 1,500 insurance professionals gathered at the Annual Conference hosted by PIANJ and PIANY, at the Hard Rock Hotel Casino in Atlantic City on June 4-6, 2023. Those who wanted to grow their relationships and industry connections; energize their businesses; and...
In New York state the 2023 legislative session was scheduled to conclude on June 8. The state Senate adjourned on Saturday, June 10, at 3:27 a.m. And, the state Assembly closed its session later that day at 4:35 p.m. However, it appears that the Assembly’s adjournment...