Industry News

​The New York Automobile Insurance Plan (NYAIP) has announced forthcoming rule changes to create "intersex" and "unspecified" gender classifications used in developing premiums for drivers of vehicles insured through the Plan. The changes take effect on December 1, 2022.The effected rules are:Rule 22, Private Passenger Automobile Classifications, is amended to include a youthful intersex and unspecified classification and revise the definition of youthful operator to include intersex and unspecified. Rule 27, Driver Training Credit, is amended to reference classifications for youthful operators under the age of 21. Rule 42, Named Nonowner Coverage​, ​​is amended to revise the definition of youthful operator to include intersex and unspecified.​The Class Factors Table in the Private Passenger Automobile Rate Chapter is…

​The Excess Line Association of New York (ELANY) has warned New York licensed excess line brokers of stepped-up enforcement of document filing requirements. In a bulletin ​dated August 15, 2022, the association said that the New York State Department of Financial Services (DFS) has been issuing fines to excess line brokers who "demonstrate a pattern of late policy document filings with ELANY."The fines have been in the tens of thousands of dollars, the association said, with at least one reaching six figures. These are on top of the late-filing fees that ELANY imposes. Many states, including New York, require licensed producers to notify them of…

​The New York State Workers Compensation Board is is presenting monthly webinars for employers, starting today. You and your clients may find the information useful.The webinars, presented by the Board's Advocate for Business, will address basics of the state's Workers' Compensation system, coverage requirements, and employer obligations. They will also address:Who does and does not need coverageHow and when to report workplace injuries and illnesses, including cases of COVID-19Factors to consider when an employer hires independent contractors, laborers and domestic workersHow to reduce premiumsPenalties and where to go for help with themThe sessions are free of charge and do not require pre-registration. More information can…