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NY-YIP Fall Soiree: Were you there?

NY-YIP Fall Soiree: Were you there?

by Matt McDonough | Sep 18, 2024 | Association, Featured, General News, YIP

Last week, the NY-YIP hosted its annual Albany Fall Soiree. This soiree was held in downtown Albany, N.Y., at the City Beer Hall. [PHOTO CAPTION FOR PHOTO TO THE RIGHT: (L-R) Angela Temple, Hopmeier, Evans, Gage; Harriet Thomas, United States Liability Ins. Co.; Jack...

PIANY, DFS continue discussions on carrier exits from N.Y. marketplace

PIANY, DFS continue discussions on carrier exits from N.Y. marketplace

by Theophilus Alexander | Aug 26, 2024 | Advocacy, Featured

Last week, representatives from PIANY met with officials from the New York State Department of Financial Services for a second time this month to continue discussions on the impending exits of Adirondack Insurance Exchange and Mountain Valley Insurance Company from...

What to know: The N.Y. insurance guaranty fund

What to know: The N.Y. insurance guaranty fund

by Bradford J. Lachut, Esq. | Aug 23, 2024 | Featured, Technical

Insurance is meant to protect you when unexpected events happen, but what happens if your insurance company goes out of business? That’s where the New York insurance guaranty fund comes in. This fund is designed to protect policyholders and ensure that claims are paid...

N.Y.: We’ve come so far … standardized windstorm deductible definition

N.Y.: We’ve come so far … standardized windstorm deductible definition

by N. Stephen Ruchman | Aug 2, 2024 | Advocacy

For several years, PIANY has been on the front lines as an advocate for the standardization of the windstorm deductible definition in New York state. It has been a top legislative priority for the association. PIANY members and staff members have meet with countless...

From PIANY President Gary Slavin, re: Adirondack, AmGuard leaving markets

From PIANY President Gary Slavin, re: Adirondack, AmGuard leaving markets

by Gary Slavin, CIC, LUTCF, CLTC | Jul 29, 2024 | Association, Featured

Dear PIANY members, I’m writing to you to discuss the recent announcements from Adirondack Insurance Exchange and AmGuard Insurance Co., regarding their decisions to withdrawal from specific insurance marketplaces. When the announcement was made, an email was sent to...

PIANY remembers Sen. James L. Seward 

PIANY remembers Sen. James L. Seward 

by Bradford J. Lachut, Esq. | Jul 29, 2024 | Featured, General News

Former New York state Sen. James L. Seward, a prominent leader in New York state Legislature, passed away on July 27, 2024, at the age of 72, after a long battle with cancer. Seward’s distinguished career in public service spanned over three decades, during which he...

The impact of staged construction accidents on New York insurance premiums

The impact of staged construction accidents on New York insurance premiums

by Bradford J. Lachut, Esq. | Jul 23, 2024 | Featured, General News

Staged construction accidents have become a growing concern in New York, significantly affecting the property/casualty insurance sector. This fraudulent activity undermines the integrity of the construction industry and leads to substantial financial repercussions for...

N.Y.: Revised WC loss costs take effect Oct. 1

N.Y.: Revised WC loss costs take effect Oct. 1

by Dan Corbin, CPCU, CIC, LUTC | Jul 22, 2024 | Technical

In May, the New York Compensation Insurance Rating Board submitted an application for an overall loss cost decrease of 9% to the New York Department of Financial Services. The DFS approved the application as filed with an effective date of Tuesday, Oct. 1, 2024. There...

New York implements new law for fair insurance practices in affordable housing

New York implements new law for fair insurance practices in affordable housing

by Theophilus Alexander | Jul 15, 2024 | General News

On April 20, 2024, Gov. Kathy Hochul signed into law Chapter 56 of the Laws of 2024, marking a decisive change in how insurance companies can interact with property owners who house tenants utilize federal housing vouchers. According to an investigative report by the...

N.Y.: Legislative setbacks: Excess-line reform, staged construction accidents, and more

N.Y.: Legislative setbacks: Excess-line reform, staged construction accidents, and more

by Theophilus Alexander | Jul 12, 2024 | Advocacy, General News

The 2023-24 legislative session in New York saw a flurry of activity, with legislators in both houses passing hundreds of bills. Despite this progress, several bills on PIANY’s radar did not pass the Legislature. Some bills passed one house but not the other, while...

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