Coming off an expensive statewide ballot election featuring all 120 elected Assemblymembers and Senators, the New Jersey state Legislature’s lame duck session currently is in full swing. On Nov. 30, 2023, Senate President Nicholas Scutari, D-22,...
Risks associated with electronic bikes
Electric bicycles—or e-bikes—have become popular as an eco-friendly, efficient, and cost-effective mode of transportation. While these bicycles offer myriad benefits, they carry certain risks—which riders can mitigate. Electric bikes are powered by batteries,...
PIA testifies before the N.Y. Assembly Committees on Insurance and Environmental Conservation
PIANY Director of Government & Industry Affairs Bradford J. Lachut, Esq., along with other industry representatives, testified this morning on extreme weather and the resiliency of the property/casualty insurance marketplace. The hearing was jointly hosted...
PIA Market Trends Survey: Rising premium rates, other factors indicative of a hard market
Professional insurance agents may be aware that the insurance industry is amid a hard market. This means you also may have noticed that your insureds’ premiums have risen, and insurance coverage is more restricted, among other changes. PIA Northeast conducted a survey...
Are you selling umbrellas with holes in ’em?: If your clients get wet, you could too!
We (independent agents) are raised to sell umbrella liability insurance policies, but why? We are told to sell umbrellas because people can get sued for an auto accident or a slip-and-fall, and other outrageous scenarios. Basically, when you make a mistake and cause...
Veterinary medicine trends affect pet’s care
The COVID-19 pandemic left a major mark on the American workforce that can be seen in every industry. The U.S. Chamber of Commerce provided a brief overview of these trends in a September 2023 report. The report characterizes this phenomenon of industries seeing high...
What to know about New York’s windstorm policies
Like most things, insurance policies should be straightforward to understand. If you were to educate yourself about policies or ask your independent agent to clarify something, it shouldn’t lead to you agonizing over the details. In the case of homeowner’s insurance...
This Halloween, don’t get scared: get coverage!
Halloween is almost here, and with it, everything that makes the holiday so special. There’s the chilly fall air, and it seems as though there’s the grinning jack-o-lanterns posted at every door. Elaborate decorations and haunted houses are a fixture of Hallows’ Eve,...
N.J.: ‘Dwelling units’ would be required to have renters insurance if new bill becomes law
New Jersey Assemblymember William B. Sampson IV, D-31, introduced A-5696 on May 18, 2023. This bill would require renters insurance for individuals entering or renewing a lease for a dwelling unit. The legislation defines dwelling unit as any room, or group of rooms,...
Don’t shoot the messenger
You are probably familiar with the turn of phrase Don’t shoot the messenger. It means not to blame the person delivering a message for the content of that message. Often, I think that all insurance agencies should have that sign up in their lobby or on their website,...