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|April 18, 2013|
Assembly Insurance Committee chair shares coffee with PIANY
The PIANY board of directors met with New York State Assembly Insurance Committee Chair Kevin Cahill, D-103, who visited PIA headquarters in Glenmont, Wednesday, April 17. During a collegial and informal discussion, Cahill commended professional agents for their civic, charitable and economic involvement in their communities around the state. "I know well the high level of involvement you represent, and I thank you for it because it's rare and extraordinary." For more details on PIANY’s discussion with Cahill, click here. Cahill is pictured at the board meeting, second from the right.
PIANY leaders meet with Buffalo I Day keynote speaker Rudy Giuliani
PIANY President Michael Skeele, CIC, CPIA, President-elect Alan Plafker, CPIA, and a host of PIANY members are participating in today's Buffalo I Day event. PIANY First Vice President Tony Kubera helps coordinate the event each year, and provided PIANY leaders with the opportunity to talk with Giuliani the evening before the event. Pictured at right are Alan Plafker and Rudy Giuliani.
Assembly Standing Committee on Insurance invites PIANY to more post-Sandy roundtables
At the invitation of the Assembly Committee on Insurance, PIANY was represented by longtime member Stuart Fries, of Garber Atlas Fries & Associates, at two additional roundtable discussions today on insurance coverage following a disaster. These roundtables are to further examine many of the issues faced by homeowners and businesses following a catastrophe, including the claims settlement practices of insurers as it relates to damages and losses resulting from the storm, to examine the types of coverage available to consumers and to ensure they are informed properly of their coverage needs and options to deal with future disasters.
PIANY leaders meet in Glenmont to discuss agent issues
PIANY leaders meet in Glenmont to discuss agent issues Your PIANY board of directors met yesterday at PIA headquarters in Glenmont, to discuss information and services important to agents, including the status of the health insurance exchange in New York state (and the roles of agents and brokers in the exchange); legislative issues from the state budget (and the transfer of $1.75 billion from the reserves of the New York State Insurance Fund); and the Department of Financial Services’ post-Sandy legislative and regulatory issues—including certificates of insurance, photo inspection and automobile no-fault legislation. The board also discussed networking opportunities for members and carriers. The Legislative Committee reviewed the dozens of proposals that PIANY is tracking. Over the past several weeks, your PIA leaders have been across the state, continuing their tireless travels and work on your behalf from recent Advisory Councils in New York City, Long Island and the Hudson Valley to networking with the NY-YIP in Utica and a pre-event cocktail reception that preceded I-Day in Buffalo. You can be a part of the movement—sign up for your local Advisory Council and be a part of events like Long Island RAP next Thursday, April 25.
PIA survey reveals significant underwriting trends
In the recent PIA Market Trends Survey, more than 400 association members responded to the question: To what extent are underwriting guidelines becoming stricter? As a result of the recent changes in the market including the result of Superstorm Sandy, more than 37 percent of responses indicated a significant or extreme change in the underwriting approaches to homeowners and commercial property lines of business. In contrast, 14 percent of the survey respondents indicated a shift in personal auto, and 22 percent noted a change in commercial liability underwriting approaches that would be categorized as significant or extreme. Full results from the Market Trends Survey will be available in the June edition of PIA magazine.
PIANY’s Long Island RAP is next week!
PIANY’s Long Island Regional Awareness Program takes place one week from today at Leonard’s of Great Neck, Thursday, April 25, 2013. Education sessions, an expansive trade show and networking opportunities will be available throughout the day. Delivering Long Island RAP’s 2013 keynote address will be Prasad Gunturi, senior vice president of catastrophe management services, Willis Re. Gunturi will deliver an insightful and informative review of Sandy, what happened and why the loss was greater than expected. Also, find out how loss can be mitigated in future events, and how Sandy has changed hurricane modelers views of vulnerability in New York state. For more information on the event, or to register, click here.
PIANY Advisory Councils are your chance to get involved
The PIANY Spring Advisory Council program continues on Tuesday, April 30, in Albany and in Kingston on Thursday, May 2. It is designed to get valuable input from our members, which is critical to the development of PIANY policies, products and services. If you are interested in participating in the Advisory Council program, please contact PIANY Deputy Director Kelly Norris, CAE, at email@example.com.
Workers’ compensation loss cost multipliers updated
The DFS updated the list of lost cost multipliers approved for use by workers’ compensation insurers. These multipliers, which are effective April 1, 2013, may be obtained in PIA QuickSource document No. QS31151.
State Workers’ Compensation Board releases its summary of WC law changes
In Subject No. 046-520, the New York Workers’ Compensation Board provides its summary of the Business Relief Act changes contained in the 2013-14 Executive Budget Legislation (Part GG, page 130). Future subject numbers will provide additional and more detailed information on certain aspects of the new laws.
NCCI posts issue analysis on TRIA extension
The National Council on Compensation Insurance has posted its Issue Analysis online providing background information on the Terrorism Risk Insurance Act and subsequent extensions. In the 113th Congress, Representative Michael Grimm has introduced H.R. 508 to extend the TRIA program's expiration date five years until the end of 2019. The bill has been referred to the House Committee on Financial Services, who has yet to take further action in this Congress. The committee's Subcommittee on Insurance, Housing, and Community Opportunity held a hearing on TRIA during the 112th Congress.
Benefit of the week: Cyber liability products
To protect against the ever-increasing threat confronting agencies as they handle their clients’ information, PIANY offers two options for coverage of cyber liability. Agents can choose from two products, available through PIA. One option is a stand-alone, comprehensive policy through Philadelphia Insurance Cos. available on an admitted basis in New York. A second choice is an optional endorsement to new or existing errors-and-omissions policies through Utica National Insurance Group in New York. Agents interested in this coverage are encouraged to call PIA at (800) 424-4244, ext. 800, or click here.
Earn Life CE credits before the June deadline
Need Life CE credits for your June 30 corporate license renewal? Don't wait until it's too late. Register today for one of PIA’s upcoming courses offering LA credits: CISR LHE: Life & Health Essentials, April 23, 24, 25, 2013, in Cheektowaga, Rochester, and Vestal, respectively; CIC Agency Management Institute, May 1-4, 2013, Buffalo; CPIA 1: Position for Success, Thursday, May 2, 2013, Newburgh; CPIA 2: Implement for Success, Wednesday, May 8, 2013, Plainview; CPIA 1: Position for Success, Thursday, May 16, 2013, Glenmont; and Webinar: Living Trusts and Estate Planning Tuesday, June 4, 2013. For a full listing of courses, or to register, click here.
NYAIP Producer Procedures Courses are offered by PIANY throughout the year
Get up to speed with PIA's New York Automobile Insurance Plan classroom seminars. Every four years, producers certified to place and service business with NYAIP are required to complete a NYAIP Producer Procedures Course. Our classroom courses provide a full 5 continuing-education credits approved for the BR, PC, PA and C3 licenses. Plan now to keep your NYAIP certification, while earning CE credits toward your next license renewal date. Choose a class near you and complete your NYAIP course in a single half-day. Upcoming courses will be taking place on Tuesday, April 30, 2013, at Ramada Adria, Bayside; and Wednesday, May 1, 2013, at Executive Inn, Woodbury. To view the entire schedule, or for more information, click here, or call (800) 424-4244.
Newtwork at NY-YIP’s Spring Bowling Party, May 21
The New York Young Insurance Professionals will host its Spring Bowling Party Tuesday, May 21, 2013, at Lucky Strike in Manhattan. Come network with the industry’s best and brightest right in the middle of Times Square. Exchange business cards and ideas to further your career with individuals in the state’s pre-eminent organization for young insurance professionals. For more information, or to register for this event, click here.
New York insurance consumer shopping guides
The New York State Department of Financial Services offers two consumer shopping guides: QS31097—Consumer guide to homeowners and tenants coverage; and QS31108—Consumer guide to automobile insurance. To access either of these guides, log on to the PIANY website and type the appropriate QuickSource number in the Google-facilitated search box, or fax a request to PIANY’s Industry Resource Center at (888) 225-6935.
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