Following confusion over insurance claims after major, hurricane-strength storms, PIANY has made the standardization of windstorm deductible triggers a legislative priority to clarify the definition of windstorm. How a windstorm is defined can make a substantial...
The ISO 2022 HO Program was examined for enhancements to coverage in the HO policy forms last month in ISO 2022 HO Program—Part I. This article will examine the restrictions introduced in the HO policy forms, a new policy form, and new enhancement and restrictive...
The life insurance industry has a dirty secret that most agents are aware of, but don’t want to talk about: The main factor for choosing one policy over another comes down to price. Most agents know that Carrier A’s coverage likely will be like Carrier B’s coverage,...
New York insurance producers are no strangers to electronic delivery of insurance documents—during the COVID-19 pandemic, sending documents electronically became the easiest and safest way to connect with clients. However, certain legal restrictions in the state...
With summer sun and vaccine shots, we are heading for the great reawakening. Our customers have learned to work remotely, save money, avoid travel and find entertainment in those things closest to their homes and families. We were forced to avoid buying and...
Let’s discuss the electronic delivery of insurance documents. Please don’t leave! I promise this will be painless (mostly). I know that the electronic delivery of insurance policy documents is not a new phenomenon. You probably have sent thousands of documents...
Gov. Phil Murphy signed Executive Order No. 243 to expand efforts to reopen the state by further reducing mask requirements. Effective Friday, June 4, workplaces not open to the public will no longer need to require employees wear face masks or adhere to social...
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...
Another decade has passed since the Insurance Services Office Inc. 2011 HO Program debuted. Prior to that, it was the 2000 HO Program. Now comes the 2022 HO Program and I am more than a little excited about it. There are many interesting enhancements and limitations,...
Picture this: Mysterious music plays. A curtain pulls back. A shadowy man wearing a cloak emerges on stage. In his hand, he holds a hermetically sealed envelope. He states to the audience that he is a famous mystic, and he will psychically divine the answer to the...