PIANY priority legislation to address and curtail the issue of bait and switch in the auto insurance market has been reported out of the New York state Assembly Insurance Committee (23-0). The legislation, A.1809, would prohibit insurance carriers from rerating...
Legislation to streamline the process of placing commercial policies in the excess-lines market has passed the New York state Senate (63-0) on May 24. The bill (S.498A) would simplify the excess-lines affidavit that producing brokers must complete as part of the...
While I was looking at appliances in Home Depot this week, an announcement throughout the store warned shoppers that any house built before the 1970s still may have lead-based paint on the walls and posing a risk to residents. This risk extends to many houses across...
The New York State Department of Financial Services has taken the first step to amend the continuing-education requirements for insurance producers. What’s new? The DFS is proposing that all licensees be required to take at least: One hour of insurance law One hour of...
PIANY leaders met with their congressional representatives and staffers from the offices of 10 New York representatives from May 11-13. These meetings were part of PIA National’s PIA Advocacy Day. Discussions focused mainly around four key issues: flood insurance,...
Gov. Andrew M. Cuomo announced last week that he signed the New York Health and Essential Rights Act—also known as the NY HERO Act. The new law directs the New York State Department of Labor and the New York State Department of Health to create an enforceable health...
Every 10 years, the United States conducts a census to count all persons in the country as set forth, however vaguely, in Article 1, Section 2 of the United States Constitution. The 2020 census count found that New York state lost over 20 million people in the...
PIANY leaders participated in Albany Lobby Day, which took place virtually last week and this week. PIANY President John Tomassi, CPCU; President-elect Tim Dean; Vice President David Sidle II, CIC, CPIA; Treasurer Gary Slavin, CLTC, CIC; Secretary Richard Andrews,...
Sen. James Sanders Jr., D-10, introduced S.6407 in the state Senate this week. The bill—one of PIANY’s 2021 legislative priorities—would require the superintendent of financial services to establish uniformity in the triggering and operation of windstorm deductibles....
The Appellate Division Third Judicial Department of the New York Supreme Court ruled last week that amendments to Regulation 187—which created a suitability and best-interest standard for the sale of life insurance—were unconstitutionally vague. This is a...