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.
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…
Question: “A referral to me received the attached non-renewal notice from her current Homeowners carrier. It gave the reason for non-renewal as: “As part of our efforts to manage risk…
It’s been a while since I added to my list of examples of subtle but possibly significant differences between insurance policies of the same type issued by different insurers. This…
Question from a Big I NY member: “We had an insured who called yesterday to add her boyfriend/domestic partner to her homeowners policy as a named insured. My first reaction…
A magnitude 4.8 earthquake centered west of Manhattan struck the northeastern U.S. this morning. We at Big I New York hope that all of you, your families, friends, and clients are safe…
For those who may have missed it, the property casualty insurance markets are in a very hard market cycle. During a hard market, insurance carriers hike premiums, cancel and non-renew…
