In New York state the 2023 legislative session was scheduled to conclude on June 8. The state Senate adjourned on Saturday, June 10, at 3:27 a.m. And, the state Assembly closed its session later that day at 4:35 p.m. However, it appears that the Assembly’s adjournment...
On May 9, 2023, PIWA held a series of advocacy meetings in the State Capitol and Legislative Office Building with legislators and key staff to highlight the importance of the excess-and-surplus-lines insurance market and to advocate for the passage of priority...
As the days tick by to the end of the Connecticut legislative session, PIACT has been advocating for passage of the association’s top priority, H.B.6621, which makes small, but important changes to the current process of placing risks in the nonadmitted marketplace....
Two of PIANY’s top legislative priorities for the 2023 legislative session successfully were reported out of the Senate Insurance Committee today: S.5889, which would make important reforms to the New York state’s outdated photo inspection law; and S.5896, which would exempt commercial insurance policies placed by retail insurance brokers through the unaffiliated wholesale excess-line brokers from the diligent-effort requirement when placing business in the excess & surplus marketplace.
The warm granite atrium of the Connecticut Legislative Office Building served as the setting for the 2023 PIACT Legislative Reception, held on March 7, 2023. PIACT President Bud O’Neil, CPIA, welcomed the co-chairpersons of the Connecticut Insurance and Real Estate...
Gov. Kathy Hochul this week signed S.8127 into law. It simplifies the process for placing business in the excess-lines marketplace. The new law, sponsored by Sen. Neil Breslin, D-44, and Assemblymember Pamela Hunter, D-128, reduces excessive reporting requirements....
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....
The answer to the question posed in the headline is because many excess- and surplus-lines insurance companies’ actions are covered by the contract. Have you ever asked yourself why E&S insurance carriers can cancel a policy with only 30 days’ notice when in most...
Brady Kelley is the executive director of the Wholesale & Specialty Insurance Association, a member service organization representing the entire wholesale, specialty and E&S industry. Dan Maher is the executive director of Excess Line Association of New York,...
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...