Insurance agents are the middlemen—they act as intermediaries between insureds and insurers. With this positioning, there are times when agents are put into situations in which they are unsure of what side to take—especially when evidence of a misrepresentation has...
What PIA members need to know about the Corporate Transparency Act
While the Corporate Transparency Act became law on Jan. 1, 2021, you may just be hearing about it now. That is because it became effective as of Jan. 1, 2024, and it has created new business reporting requirements on a federal level for smaller businesses. The law’s...
N.J.: Stay updated on pay-to-play changes
There were sweeping changes for New Jersey’s campaign-finance and pay-to-play laws in 2023. Gov. Phil Murphy signed the New Jersey Elections Transparency Act, P.L. 2023, c. 30, into law on April 3, 2023, and later he signed Executive Order 333 into effect on June 15,...
N.Y.: Risk retention placement reports due March 15
New York State Insurance Law Section 5904 requires producers placing New York state business with risk retention groups not chartered in the state to report this business by Friday, March 15, 2024. To comply with New York State Insurance Law Section 5904(c), if a...
N.Y.: Chapter amendments made to PIA-priority ‘bait-and-switch’ law
In 2023, PIANY fiercely advocated for passage of legislation that would increase consumer protections during the automobile insurance underwriting process. PIA was successful in its efforts when New York Gov. Kathy Hochul signed into law S.5764-B, which takes aim at...
In review: New Jersey’s legislation session 2022-23
While PIANJ may have faced challenges in advancing the association’s top priority—a ban on the use of step-down provisions in personal auto policies—your association’s efforts during the 2022-23 session were not in vain. The organization has seen widespread success in...
N.J.: Trio of insurance-related bills passed into law
At the end of the 2022-23 legislative session in New Jersey a series of insurance-related bills that will impact personal- and commercial-lines clients were signed into law by Gov. Phil Murphy. These bills range from mandating safety measures in housing construction,...
Understanding insurance requirements for home-elevation contractors in New Jersey
In the world of home renovations, raising a house 10 feet off the ground is no easy task. This ambitious undertaking not only demands expertise in engineering and construction, but it also necessitates strict adherence to insurance regulations—especially in New...
Where the legal risks lurk in human resources: Reduce the risk of wage-and-hour violations
As an employment lawyer and human resources expert spending my career working with businesses of various sizes, I believe the single most important thing employers can do is make sure they are handling their employees’ wages properly. When people’s livelihoods are...
Premium trust accounts and commissions
On the most basic level, choosing a career as an insurance producer means having the opportunity to sell insurance products to clients. However, deciding to become an insurance producer also means signing up for a heightened level of responsibility, which means acting...