Recently, the Vermont Supreme Court ruled in the case of Huntington Ingalls Industries v. Ace American Insurance Co., that a policyholder could proceed with a business interruption claim that alleges that the COVID-19 virus caused physical damage to property when it...
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...
At the end of June, Gov. Kathy Hochul signed legislation into law that directly impacts businesses with outstanding unpaid balances with the New York State Insurance Fund. What does the new law do? Under the new law (S.9096/A.10078), which goes into effect...
Two bills passed the New Jersey state Legislature last week, which would impact the personal auto and commercial insurance marketplace, respectively. The auto limits bill was amended in the state Senate. Increase in auto limits S-481, sponsored by Sen. Nicholas...
You may be aware that Jurassic World Dominion was released earlier this month. Dominion is the (checks IMDB) sixth Jurassic Park/World movie. The release of JWD has caused me think about the “Jurassic” premise as whole. First, let me say I am a huge Jurassic Park fan....
Senate Six months into the job as state Senate President, Sen. Nicholas Scurtari, D-22, is looking to put his stamp on New Jersey’s automobile insurance marketplace. Last week a series of bills—sponsored by Scurtari—passed the Senate Commerce Committee. If signed into...
A trio of lesser known—but notable—insurance bills passed the New York state Legislature in the waning days of the 2022 legislation session, which could have an impact on your agency and clients. Supplemental spousal liability coverage S.9367/A.1029–Sponsored by Sen....
Legislation that would require businesses and certain rental units to carry insurance passed the state Senate (25-11) on May 26. The bill, S-1368, sponsored by Senate President Scutari, D-22, would require business owners to purchase liability insurance in an...
On May 9, the New York state Assembly passed S.8127, which would simplify the excess-line insurance placement affidavit requirements brokers must complete before placing insurance in the excess marketplace. The bill passed the state Senate on March 23, so the final...