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...
PIANJ-supported legislation, A-389, which would create a safe harbor for insurance producers and carriers working with a cannabis-related business was reported out of the state Assembly Financial Institutions and Insurance Committee—a major step toward the bill...
Insurance scoring is when insurers use a score, which is based on a policyholder’s credit history, to screen potential customers for underwriting acceptability. Originally, the scoring methodology was developed in the context of evaluating loan applicants. Credit...
So, it used to be that if clients asked you if their homeowners insurance policy covered their property anywhere in the world, you could reply: “Yes. However, if they are in another one of your residences, then coverage is limited to 10% of the limit shown in your...
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...
Questions can help your clients choose The National Flood Insurance Program has been the main flood insurance provider in the United States since its inception in 1968. But is it always the best option for your clients? Private flood insurance provides...
Legislation that would prohibit the use of step-down provisions in personal auto policies was introduced in the state Senate last week. Generally, step-down provisions are found in some personal auto policies. They act to reduce the amount of coverage to which an...
The state Legislature may have been on summer recess, but its impact was still felt as two compulsory insurance bills were signed into law by Gov. Phil Murphy on Aug. 5. Increase in auto limits S-481, sponsored by Sen. Nicholas Scutari, D-22, and Assemblyman Louis...
Almost everyone has shopped online in the last decade. Even those who manage to resist the lure of two-day delivery probably have priced appliances or scouted sales on various websites before purchasing the items at a physical store. This means they have been...
What can make your agency unique or different? Why should an individual or family do business with your agency instead of another one within a 20-minute driving radius? Are your products and services wildly different from your local or internet competitors? For many...