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Insurance professionals value the ever-changing industry at PIANY’s first-ever Capital RAP

Insurance professionals value the ever-changing industry at PIANY’s first-ever Capital RAP

by Jaye Czupryna | Oct 31, 2022 | Association, Featured

Some 150 insurance professionals attended PIANY’s first-ever Capital RAP. The event was held Oct. 25, 2022, at the Capital Center, Albany. Scores of attendees learned from insurance industry leaders on how to navigate an ever-changing insurance landscape. Presidential...

N.Y.: ‘Best interest’ amendments declared constitutional—end of the road for lawsuit

N.Y.: ‘Best interest’ amendments declared constitutional—end of the road for lawsuit

by Bradford J. Lachut, Esq. | Oct 25, 2022 | Advocacy, Featured

The New York State Court of Appeals ruled last week that amendments to Regulation 187, which created a suitability and best interest standard for the sale of life insurance and annuity products, were constitutional. This decision ends a legal battle that started in...

NY-YIP installs 2022-23 officers and elects directors at annual business meeting

by Jaye Czupryna | Oct 20, 2022 | Press Release, YIP

GLENMONT, N.Y.—The New York Young Insurance Professionals elected officers during its annual business meeting on Oct. 20,2022. The NY-YIP officers installed were: Scott Richards, of Hilltop Strategies in New York, N.Y., will serve as president;Ian Sterling,...

N.Y.: Revised WC loss costs take effect 10/1/22

N.Y.: Revised WC loss costs take effect 10/1/22

by Dan Corbin, CPCU, CIC, LUTC | Sep 26, 2022 | Featured, Technical

In May, an application for an overall loss cost decrease of 8.7% 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 Saturday, Oct. 1,...

N.Y.: Auto theft investigator refuted

N.Y.: Auto theft investigator refuted

by Bradford J. Lachut, Esq. | Sep 6, 2022 | Advocacy, Featured

A letter ran recently in the Albany-based Times Union titled “Commentary: A repeal that would help fraudsters and hurt consumers.” The letter is an opinion piece written by Tod Neifert, an auto theft investigator, which calls for New York Gov. Kathy Hochul to veto...

N.Y.: DFS proposes updates to cyber security regulation

N.Y.: DFS proposes updates to cyber security regulation

by Bradford J. Lachut, Esq. | Aug 3, 2022 | Agency Management, Featured

The New York Department of Financial Services celebrated the five-year anniversary of 23 NYCRR 500—commonly referred to as the DFS Cyber Security Regulation—with amendments to that regulation. The DFS has released a pre-proposal for comment. Here is what is in this...

N.Y.: WC insurance available to businesses with outstanding balance through NYSIF

N.Y.: WC insurance available to businesses with outstanding balance through NYSIF

by Bradford J. Lachut, Esq. | Jul 14, 2022 | Advocacy, Featured

At the end of June, Gov. Kathy Hochul signed legislation into law that directly impacts businesses with outstanding unpaid balances with the New York State Insurance Fund. What does the new law do? Under the new law (S.9096/A.10078), which goes into effect...

Live at the Hard Rock, Atlantic City: Insurance professionals assemble at Annual Conference

Live at the Hard Rock, Atlantic City: Insurance professionals assemble at Annual Conference

by Jaye Czupryna | Jun 27, 2022 | Association

For the first time in three years, some 1,500 insurance professionals from New Jersey and New York gathered, live and in-person at a new location—the Hard Rock Hotel Casino in Atlantic City—for two-and-a-half days for the return of the Annual Conference hosted by...

N.Y.: Bills see action as the Legislature winds down

N.Y.: Bills see action as the Legislature winds down

by Bradford J. Lachut, Esq. | Jun 7, 2022 | Advocacy

A trio of lesser known—but notable—insurance bills passed the New York state Legislature in the waning days of the 2022 legislation session, which could have an impact on your agency and clients. Supplemental spousal liability coverage S.9367/A.1029–Sponsored by Sen....

PIANY top-priority photo inspection bill heads to governor’s desk, get ready to call

PIANY top-priority photo inspection bill heads to governor’s desk, get ready to call

by Katherine “Kat” Slye-Hernandez, Ph.D. | Jun 1, 2022 | Advocacy, Featured

The New York state Senate just passed S.6028, 56-7, sponsored by Sen. Neil D. Breslin, D-44. This bill would make photo inspections of private passenger automobiles optional. Currently, many consumers are required to get a photo inspection of their vehicle within 14...

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