CONTACT: Darel Cramer, communication assistant
or Mary E. Christiano, director of communication
Fax: (888) 225-6935
Web site: www.pia.org/NY/
FOR RELEASE: Dec. 9, 2011
PIANY meets with DFS Superintendent Lawsky to discuss crucial issues
Representing PIANY at the meeting were President Richard Savino, CIC, CPIA; Director Peter Resnick; Director Mike Cracco; Legislative Representative
PIANY commended Lawsky on the public comments he made in September that “Private insurance is there to help people when a disaster strikes, and the state will do everything in its power to ensure that insurance companies are properly paying claims.” And that, “insurance companies and their personnel will be held accountable if they are misleading New Yorkers about the terms of coverage.”
PIANY pointed out that despite Tropical Storm Irene and the damage it caused, coastal New York, nonetheless, has been lucky to escape a direct hit from a true hurricane–but luck is no substitute for planning. PIANY described instances in the not-so-distant past where homeowners were pummeled by rising rates, nonrenewals and threats of nonrenewal of their homeowners’ insurance policies and explained that homeowners shouldn’t have to worry about whether they will be able to get coverage when their policies expire–there will be another storm at some point, and planning for that inevitability is essential.
Specifically, PIANY reiterated its support for a package of reforms put forth by the department in late 2010, one of which would restrict insurance companies from applying a special deductible for wind damage unless a hurricane actually makes landfall in
“PIANY appreciates Superintendent Lawsky taking the time to meet with us to discuss these important issues,” said PIANY President Savino. “We are pleased that the positive rapport we’ve built continues to facilitate our mutual goal of improving
PIANY is a trade association representing professional, independent insurance agencies, brokerages and their employees throughout the state.