New York Gov. Kathy Hochul signed a chapter amendment—A.2056—into law last month, which further limits how much flood insurance mortgage lenders can require. This new law amends legislation passed last session that prevented lenders from demanding flood insurance that...
PIACT voiced opposition to S.B.1245, a proposed bill that would require insurance producers and surplus-lines brokers to provide written notice about the availability of flood insurance at the time of application for personal risk insurance. While PIACT supports...
It is fair to say that the 2024 legislative session did not go as planned for the Connecticut Insurance and Real Estate Committee. As previously reported—due to a short legislative session and political in-fighting—the committee failed to report out any legislation in...
To increase transparency around flood risk and encourage climate resilience, Connecticut lawmakers have introduced S.B.1245—An Act Establishing a Resilient Connecticut Strategy. If passed, this bill would bring significant changes to how flood insurance is disclosed...
The start of New York state’s legislative session is traditionally a time when lawmakers revisit bills that didn’t cross the finish line the previous year. It’s also when they refine previously passed laws through a process called chapter amendments. This process is...
Only a few weeks after signing PIANY’s top legislative priority into law, Gov. Kathy Hochul has taken action on two other PIANY priority issues. The governor signed one bill to introduce parametric insurance into the state’s legal framework, and another bill to expand...
Before a natural disaster hits your community, it’s generally agreed that the best possible thing you can do is evacuate. However, as in the case of the recent Hurricanes Helene and Milton, we hear stories about people staying behind to weather the storm. Usually, the...
As an insurance agent or broker, helping clients choose the right flood insurance is crucial—especially when they face the aftermath of a flood. Understanding the distinctions between the National Flood Insurance Program and private flood insurance is essential for...
Gov. Kathy Hochul has signed A.2866/S.4199 into law, authorizing the New York State Department of Financial Services to create a single, standardized definition of “windstorm” in homeowners insurance policies. This long-awaited legislation marks a significant...
Recently, representatives of PIACT met with Connecticut Insurance Department Commissioner Andrew N. Mais and several high-level CID staff members to address challenges and potential solutions to increase flood insurance adoption across the state. The CID invited PIACT...