PIACT has formally expressed its support for H.B.5373– An Act Concerning Premium Billing Notices for Personal Risk Insurance Policies. At a recent public hearing held by the Connecticut Insurance and Real...
N.Y.: TED Part DD: Rewarding real risk reduction—without distorting the market
In our ongoing series examining the insurance-related proposals in Gov. Kathy Hochul’s TED budget, we’ve looked at how Part BB would strengthen premium transparency, and how other provisions could affect market stability. Now we turn to Part DD—an...
N.Y.: TED Part CC: Protecting market stability—why it misses the mark
In PIANY’s recent overview of Gov. Kathy Hochul’s Transportation, Economic Development and Environmental Conservation budget proposals, we outlined several insurance-related measures that could affect the personal lines marketplace in New York state significantly....
PIACT recommends technical fixes to bill for service-animal protections
Connecticut lawmakers are once again revisiting an issue that sits right at the intersection of insurance underwriting and consumer protection: how insurers treat policyholders who own certain dog breeds. This session, H.B.Raised Bill 5264 would propose new...
N.Y.: Bring fairness and accountability to aerial imagery in homeowners insurance
Technology is reshaping property underwriting, and aerial imagery now is a routine part of how carriers assess risk. From satellite photography to high resolution flyovers, insurers have more data than ever before about the condition of insured...
Nobody’s home—but you still need insurance
There are many reasons why homeowners leave their homes vacant for prolonged periods of time. For example, they could own multiple properties and live in them based on the season—someone could have property in Florida when it gets too cold in the Northeast, and vice...
N.Y.: TED Part BB: A once-in-a-generation opportunity to improve premium transparency
In PIANY’s recent overview of Gov. Kathy Hochul’s Transportation, Economic Development and Environmental Conservation (TED) budget proposals, we outlined several insurance-related measures that could affect the personal lines marketplace in New York state...
Rodents, insurance and you: how is your coverage?
Rodents—from squirrels to mice—can pose a threat to your house or car. By nesting near or in your home and car, rodents can damage your property over time. They can gnaw wires, insulation and anything else they can chew. If this happens … do you know how your...
Is it covered? Common items that need more coverage
We assume all our possessions will be covered if we lose them or if they are damaged, but do you know how your insurance policy will truly respond—or even which one will respond when it is needed? Sometimes you need additional coverage. Snowmobiles. Typically, a...
N.Y.: Have you met TED (again)?
As New York state’s budget season gets underway, the familiar alphabet soup of Albany returns—none more important to insurance professionals than the Transportation, Economic Development and Environmental Conservation budget, better known...