With climate change set to raise the temperature of the planet dramatically, the frequency of natural disasters is increasing. The insurance industry is struggling to keep up with skyrocketing homeowners insurance claims. For example, drought conditions in California...
The New York Legislature certainly has been active on PIANY priority-issues. PIANY’s top priority photo inspection bill passed the Legislature late last month. This week, another PIANY priority passed the state Assembly, which deals specifically with windstorm...
PIA-supported legislation (A.2811) that would repeal the antiquated anti-arson application in New York City, successfully passed the state Assembly on March 9, by a vote of 138-0. What this bill would do If this bill was to become law the anti-arson application would...
We’re now in March. Have you broken your New Year’s resolutions yet? Exercising is time-consuming and it can be hard to find the energy to keep up. Drinking and eating less requires some cooperation from friends and family, as well as appealing food. Being more...
PIA-supported legislation (A.2811) that would repeal the antiquated anti-arson application in New York City, successfully passed the state Assembly Insurance Committee on March 1, without opposition (23-0). The current anti-arson law In the late 1970s, insurance fraud...
We have all seen on the news the of the intense hurricanes hitting Florida, the big Texas freeze in February of 2021 and most recently “island towns” forming in California due to runoff from the large amount of rain. The claims resulting from catastrophes are known as...
Given the various daily disturbances to American communities by climate change, it would be highly beneficial for those individuals who are looking to build houses and other structures to use compiled, local climate-risk data to determine the best place to build. It’s...
According to the Insurance Information Institute, the insurance industry is seeing more economic momentum in U.S. auto, home, and business insurance than the entire U.S. economy. Mortgages and other personal loans will cost less, allowing for economic development in...
The condo is the most misunderstood policy in personal lines insurance, and you may ask why. Let’s examine the evolution and nuances of condo insurance. The original definition of a condo was just the air inside the unit. Now, it can mean anything and everything. Many...
Hard market refers to a high demand for insurance and a decreased desire to insure. A soft market marks the opposite, when the demand for insurance coverage and competition in the market is minimal. The COVID-19 pandemic caused global economic hardship. The U.S. is...