Carriers Must Explain Premium Increases Under New State Law
One of the auto insurance reforms included in the New York State budget enacted in May (see Part BB) pertained to carrier premium change explanations. The state Department of Financial…
One of the auto insurance reforms included in the New York State budget enacted in May (see Part BB) pertained to carrier premium change explanations. The state Department of Financial…
Despite being nearly two months late, the recently enacted New York state budget delivers a sweeping set of auto insurance reforms that tackle excessive lawsuits and strengthen fraud enforcement. The package reflects years of sustained advocacy…
Insurance industry standards-setting organization ACORD has announced revisions to three application forms used in New York. The revisions, which carry a “2026/04” edition date, are for use on and after…
The New York State Senate and Assembly today released the details of their respective 2027 budget proposals. Glaringly absent, however, was any mention of auto insurance affordability. “The Senate and…
Governor Kathy Hochul has released the FY27 Executive Budget, officially launching the sprint toward the April 1 deadline for a State Budget agreement. As anticipated, affordability took center stage, with…
Nicholas M. Insua and Richard P. Lewis, partners at law firm Reed Smith, LLP, raise an interesting point in a post published last month: “The bigger issues related to how…
New York Governor Kathy Hochul delivered her annual State of the State address today at the Albany Convention Center, highlighting key affordability challenges facing New Yorkers, including the rising cost…
The causes of rising Homeowners’ insurance premiums in New York are mostly self-inflicted, Big I New York told a state Senate panel Tuesday.
Most clients need an umbrella! With dangers lurking everywhere and increasing with changing seasons, milestones, and success, it’s critical your customers aren’t under-insured. What are the risks of inadequate coverage?…
The New York State Department of Financial Services (DFS) has formally proposed an amended regulation on hurricane deductible triggers. The department is accepting comments from the public until July 7th. The…