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  March 14, 2013

Committee reports PIANY bill for policyholder protections

This week, the Assembly Insurance Committee reported a high-priority PIANY proposal to the floor that would encourage policyholders to more freely communicate with their insurance producers over potential claims. PIANY’s proposal would protect consumers by requiring the removal from an insurer's record of claims any claim paid for lost property, which was subsequently found to be not lost and the insured reimbursed the insurer for the claim. The bill was reported to the Assembly floor.  More…

PIANY attends Assembly Insurance Committee post-Sandy roundtable

PIANY President-elect Alan Plafker, CPIA, represented your association at a roundtable meeting last Friday in Far Rockaway, Queens, hosted by Assembly Insurance Committee Chair Kevin Cahill, D-101, to discuss post-Sandy proposals that could have an effect on agents and brokers. The meeting was designed to further examine claims settlement practices of insurers after Superstorm Sandy, the types of coverage available to consumers, and how to ensure that consumers are informed properly of their coverage needs and options going forward.   More…

PIANY meets with New York legislators on insurance issues

PIANY representatives met with Assembly Insurance Committee Chair Kevin Cahill, D-101, last Thursday to discuss post-Sandy proposals that could have an effect on agents and brokers, including a proposal to mandate an annual flood notice on commercial insurance policies similar to New York’s law requiring all homeowners to be notified of the need and the availability of flood insurance. PIANY also met with Sen. Andrew J. Lanza, R-24, to discuss PIANY’s photo inspection reform bill (A.1305/S.4047) that would make photo inspections optional by carriers. On Monday, PIANY also met with the Senate and Assembly members on the bill to regulate certificates of insurance (A.3107/S.3084).  More…

PIANY legislative hot lists

Want to see the status of an important bill? Think PIA first. Select PIANY Priority Bills for bill status. Select Recent Actions for any movement in the past week affecting any bill PIANY is tracking. More information, including summaries and bill texts, can be viewed by clicking on the bill number in the chart.  

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Cuomo seeks federal approval of plans for storm recovery programs

Gov. Andrew Cuomo submitted New York state’s proposal for housing and business recovery programs to help New Yorkers devastated by Sandy, as well as Hurricane Irene and Tropical Storm Lee. These programs will provide billions of dollars in direct aid to individuals, homeowners and small businesses using funding from the $60 billion Sandy aid approved by Congress and signed into law by President Obama in January.  More…

NYCIRB amends class codes

In its RC Bulletins No. 2327 and No. 2328, the New York Compensation Insurance Rating Board has made clarifications to the following classifications:  Code 7231 Messenger Service Companies: Delivering Mail, Parcels or Packages-All Employees-& Drivers; Code 8039 Department Store—Retail; and Code 5057 Iron or Steel Erection NOC.  

PIA-member agencies highlighted in article on Sandy

Several PIA-member agencies from New York state were profiled in the article "Agents go extra mile after Sandy’s devastation," in the March issue of PIA magazine, and the cover story of the March edition of PIA Connection. Among those profiled were: Completely Covered Insurance Agency, in Massapequa; Garber Atlas Fries & Associates, in Oceanside; Bryan Insurance Agency LLC, in New Windsor; and Zongrone Agency in Schenectady. Inspired by these stories, A.M. Best released a video focusing on PIA member agency The McMahon Agency Inc., and the steps it took to mitigate damage to itself and clients before, during and after Sandy. To view the video, click here.   

Call for nominations: 2013 Distinction of Professionalism Awards

PIANY will present its 2013 Distinction of Professionalism Awards during the PIANY/PIANJ Joint Annual Conference June 9-11, 2013, at the Trump Taj Mahal, Atlantic City. Do you know someone who deserves a nomination for Professional Agent of the Year; Distinguished Insurance Service; or the Community Service Award? For a nomination form, click here or to request a fax-back version of the nomination form, call (800) 424-4244. Submissions must be received by Friday, April 19, 2013. For more information about the conference, click here.  

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Agent licensing bill NARAB II introduced in House and Senate

The bipartisan National Association of Registered Agents and Brokers Reform Act of 2013—or NARAB II—was introduced in both houses of Congress on Tuesday. The bill would streamline insurance agent licensing by formally creating NARAB as a nonprofit, independent board comprising state insurance commissioners and insurance market representatives.  More…

NCCI provides guidance for implementing PPACA

The Patient Protection and Affordable Care Act, enacted in 2010, contains certain provisions and requirements related to health insurance for both health insurance providers and employers. Most of the employer provisions of the PPACA related to providing health insurance coverage to employees become effective in 2014. The way in which an employer may choose to comply with providing health insurance coverage to its employees to meet PPACA requirements also has the potential to affect an employer's workers’ compensation premium determination. In anticipation of possible questions on these issues, the National Council on Compensation Insurance offers guidance based on current rules in NCCI's Basic Manual for Workers’ Compensation and Employers’ Liability Insurance.  

Ask PIA: Liability coverage for a license vs. a lease

Q. Many of my New York City commercial clients are signing license agreements for commercial space. The agreements are called licenses, and not leases, in which the client is called the licensee and the landlord is called the licensor. In most liability policies, a "lease" is stated specifically as an "insured contract." Given that the policy makes no reference to a "license," would coverage still apply? How do we cover the licensor when additional insured coverage is required by contract? What about waivers of subrogation? A. In order to preserve this contractual coverage, you will want to be certain provision f. has not been endorsed off the policy by the ISO Contractual Liability Limitation (CG 21 39) endorsement. For a comprehensive answer to this question, click here. To access our entire Ask PIA library of frequently asked questions and expert answers by PIA’s technical staff, click here.  

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Producers public entity insurance compensation reports due April 15

New York State Insurance Regulation 87 requires annual disclosure by insurance producers who received commissions or fees in connection with coverage placement, or insurance services rendered, on behalf of a governmental unit in New York state. Producers, who were paid a share of such commissions or fees received by another producer, also must make the appropriate disclosure. These reports must be filed with the New York State Department of Financial Services by April 15, 2013. For a complete explanation and copy of the form, log on to the PIANY website and type QS31023 in the Google-facilitated search box, or fax a request to PIANY’s Industry Resource Center at (888) 225-6935.  

Network at the NY-YIP Spring Reception

On Monday, April 15, 2013, come network with the New York Young Insurance Professionals in the heart of New York’s capital city. The 2013 Spring Reception takes place from 5:30-8 p.m., at Blue 82 in Albany. For more information, or to register for this event, click here.  

Looking to buy or sell an agency?

PIA’s Agency Transition Program can help you make contact with other agencies that are looking. Click here and complete the form that’s appropriate for you. Sellers participating in the program will be kept strictly confidential to allow them a choice on who they want to contact for a possible sale. PIA membership is a prerequisite for buyers and agencies that would like to merge.  

Hoeppner joins PIA Technology Hot Line

Jason H. Hoeppner, CIC, a technology and operations consultant with B.H. Burke & Co., joins recognized technology expert, Steve Anderson, CIC, editor of TAAR Report, to assist PIA members through PIA’s Technology Hot Line. Experienced in information technology management and Lean Six Sigma principles, Hoeppner has been an independent agent consultant since 2005. His experience includes: the establishment of new markets through independent agency channels; system conversions; standardized workflows implementations; and management system training. For more on your association’s Technology Hot Line, click here or contact PIA’s Industry Resource Center at (800) 424-4244.  

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