Flood Program Extended To Sept. 30, 2023

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​An omnibus spending plan approved by Congress today includes a nine-month re-authorization of the National Flood Insurance Program (NFIP.) President Joseph R. Biden, Jr. has pledged to sign the measure, which sets federal government appropriations for the 2023 fiscal year. The reauthorization means that you will be able to obtain new and renewal flood insurance policies through the program without interruption.Congress has authorized the NFIP on a temporary basis since its inception in 1968. Its most recent authorization was due to expire at the end of the day December 23 when appropriations for the federal government were also to run out. The newly enacted bill…

Continue ReadingFlood Program Extended To Sept. 30, 2023

Your Questions About ‘220 Letters’ Answered

​We get frequent questions (that is, six or more in the last two weeks) about cancellation, non-renewal and conditional renewal letters from insurers. A lot of members refer to these as "220 letters," so called because the law that requires them for many types of commercial lines policies (Section 3426 of the New York Insurance Law) was enacted as Chapter 220 of the Laws of 1986. Here in one place are links to some of our posts and answers to member questions about what insurers are and are not required to do. This list will likely grow with time, but here is some information to help…

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​ Our Photo Inspection Reform Bill Was Vetoed: Here’s What Happens Next

What Happened:On November 21st, Governor Hochul vetoed our bill, S.6028/A.6877, which would have allowed insurance companies to waive CARCO inspections. In her veto message, the Governor cited concerns that the bill would remove protections against fraud, increase insurance rates, and harm the businesses that perform photo inspections. What's Next:While we are deeply disappointed the bill was vetoed, we remain confident there is a path forward. In her veto message, Governor Hochul stated that “with modern technology the [photo inspection requirement] could be updated in a responsible way," and that “I am willing to work with the legislature, the insurance industry, and the automotive industry during…

Continue Reading​ Our Photo Inspection Reform Bill Was Vetoed: Here’s What Happens Next