According to the Insurance Information Institute, the insurance industry is seeing more economic momentum in U.S. auto, home, and business insurance than the entire U.S. economy. Mortgages and other personal loans will cost less, allowing for economic development in...
N.Y.: Photo inspection 101
As we enter the 2023-24 legislative session, PIANY has released its legislative priority list. At the top of that list is reforms to the state’s photo inspection system. But, what is the inspection system and what is PIANY doing about it? What is the photo inspection...
Fringe benefits and other reimbursements that are nontaxable
Comprehensive knowledge of what is taxable and nontaxable benefits is incredibly important for business owners, as well as heads of human resource departments. Employees are attracted to worthwhile benefits bundled in with their earned income and this only aids in a...
PIANJ testifies; ‘step-down’ bill passes state Assembly Committee
Representatives of PIANJ gave testimony before the New Jersey state Assembly Financial Institutions and Insurance Committee on Monday in support of legislation (A-1761) that would prohibit the use of most "step-down" provisions in personal automobile insurance...
N.J.: Get in front of renewal increases with your clients; PIANJ offers sample letter
Across the country, the insurance-buying public has seen sharp premium increases when their homeowners and automobile insurance policies are being renewed. In many cases, premiums are outpacing claims and expenses, as well as rising higher than inflation. The rules...
N.Y.: Governor vetoes photo inspection legislation
In a stunning move, New York Gov. Kathy Hochul vetoed PIANY’s top-priority photo inspection legislation (A.6877/S.6028) yesterday. The legislation would have made New York’s outdated photo inspection requirements optional. The governor acted quickly on this bill. It...
N.J.: Bill to increase minimum PIP coverage introduced in state Senate
Legislation that would increase minimum personal injury protection coverage, was introduced in the state Senate on Oct. 31. This legislation (S-3266) is the latest in a long line of bills to address auto insurance coverage limits that have been introduced this...
N.J. court rules Uber Eats insurer does not have to offer UM/UIM coverage
In the case of Malzberg v. Josey et al., the Superior Court of New Jersey ruled that Uber Eats, the food delivery company, was not obligated by law to provide uninsured/underinsured coverage to drivers using its app. What happened? Scott Malzberg delivered food...
PIANJ members work to change step-down provisions, meet with legislators
PIANJ volunteers spent August and September meeting with the members of the state Assembly Financial Institutions and Insurance Committee to discuss PIANJ’s top legislative priority: a ban on step-down provisions in personal auto policies. A step-down provision...
N.J.: Photo inspection bill introduced
A bill (A-4643) that would amend the law related to physical damage inspections—often referred to as photo inspections—was introduced in the state Assembly last week. Currently, insurers are prohibited from providing physical damage coverage for an automobile prior to...