Beginning Thursday, May 1, 2025, the next wave of cyber security compliance requirements under the amended New York State Department of Financial Services’ regulation (23 NYCRR 500) will go into effect. These rules will apply differently depending on your exemption...
Those individuals who hold a New York state insurance license (covered entities), including nonresident licensees, have until Tuesday, April 15, 2025, to certify their compliance with the requirements of New York state’s cyber security regulation (23 NYCRR 500) for...
A.5811, a bill recently introduced to the New York state Assembly, would shine a light on how insurers handle liability coverage under the state’s infamous “Scaffold Law” (Labor Law Section 240). This law holds property owners and contractors absolutely liable for...
On Feb. 11, 2025, the Department of Banking and Insurance issued Bulletin No. 25-03 to clarify how artificial intelligence may be used in insurance operations within the state. The message is clear: while innovation is welcome, consumer protection remains paramount....
A recent report from a Long Island news outlet highlighted an all-too-familiar pain point for consumers and insurance professionals alike: the surge in auto insurance premiums. While inflation, vehicle costs and repair expenses are contributing factors, one...
PIANY is backing a new legislative proposal that would allow the Department of Financial Services to hire consultants to assist in reviewing insurance rate and form filings. The bill, S.5321, sponsored by Sen. Jamaal Bailey, D-36, would streamline the approval process...
The 2024-25 legislative session in New Jersey is past its midpoint, and PIANJ is tracking numerous bills that could impact the insurance industry significantly. From motor vehicle liability to home improvement contracts and personal injury protection, these proposed...
Even if your clients and colleagues have only a passing interest in politics and world affairs, you have probably heard them talk about the tariffs proposed by President Donald Trump. While it is generally understood that these tariffs mean an increased price on goods...
New York state insurance agents and brokers may soon have a more flexible and practical way to meet their continuing-education requirements, thanks to a new bill introduced in the state Legislature. Senate bill S.6122 and Assembly bill A.6652, sponsored by Sen. Jamaal...
PIACT members and staff testified before the Connecticut General Assembly’s Insurance and Real Estate Committee in strong support of H.B.6981 on Feb. 27, 2025. This legislation would remove the due-diligence requirement for placing risks in the nonadmitted insurance market when done through an unaffiliated surplus-lines broker. PIACT was represented by Treasurer Kathleen Bailey, CPIA, ACSR, CLCS; past President James Berliner, CPCU; Member Raymond Chase, CLCS; and PIACT Director of Government & Industry Affairs Bradford J. Lachut, Esq. (pictured above.)
