All homeowners should brace themselves for sticker shock next time their homeowners policy is up for renewal. Inflation’s effects on the construction industry and the broader economy extend to premiums charged on insurance policies. While it may cost more now, the...
Generally, business owners, agency owners, and business leaders have several critical success factors to consider as they manage and grow their businesses. Some essential success factors are apparent (e.g., profitability, providing a good product or service or...
Do you run a short-term rental property? Think AirBNB or VRBO. These properties bring income to owners and operators, but they require constantly tracking a changing legal landscape—especially in popular rental areas. It’s vital to keep tabs on changes to local laws...
The hard market has been a recurring topic of conversation over the last several months as something impacting insurance producers nationwide significantly. Diving further into the topic, the recent pattern of carrier withdrawals from various markets has become rather...
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...
Representatives of PIANY met recently with officials from the New York State Department of Financial Services to discuss the impending exit of Adirondack Insurance Exchange and Mountain Valley Insurance Company from the New York marketplace. This meeting comes in...
The 2024 legislative session in Connecticut was a tumultuous one for insurance-related matters. The Connecticut legislative calendar alternates between a long-session year and a short-session year. The 2024 session was a short session—characterized by two significant...
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...
In recent years, insurance companies have increasingly turned to satellite imagery to evaluate the conditions of properties—particularly roofs—for underwriting purposes. This technological resource allows insurers to assess large numbers of properties from the air...
Summer is the perfect time for outdoor home improvement projects, and one of the most critical components of your home is the roof. It provides essential protection against the elements and contributes to the structural integrity of your property. When it’s time to...