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  • 2023
    1/13

    New Law Further Restricts Underwriting of Dog Breeds

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    A law taking effect in March adds new restrictions to homeowners insurers’ ability to underwrite breeds of dogs residing in a home or apartment. The law, which builds on one that took effect a year ago, effectively requires insurers to provide liability coverage at full policy limits for most dogs regardless of breed.

    The New York State Assembly approved the bill last March by a vote of 115 to 32, and the Senate followed in May by a vote of 49 to 13. Gov. Kathy Hochul signed it into law on December 15, 2022.

    Previously, insurers were prohibited from:

    • Refusing to issue or renew
    • Cancelling, or
    • Surcharging a rate or premium

    based solely on the breed of a dog in the household.

    The amended law, which applies to policies issued, renewed, modified, altered or amended on and after March 15, 2023, further prohibits insurers from:

    • Excluding
    • Limiting
    • Restricting, or
    • Reducing coverage

    based on dog breed.

    The law applies to homeowners and renters insurance policies. It also applies to commercial policies insuring one- to four-family dwellings if the named insured is an actual person and not an organization such as a limited liability company or a corporation.

    Be aware that after March 14, your carriers will no longer be able to add exclusions or sub-limits to the liability coverage in any of these types of policies based solely on dog breeds.

  • 2023
    1/13

    Do You Have Friday the 13th Insurance?

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    Friday the 13th is traditionally seen by some better safe than sorry superstitious individuals as a day when one must take care to avoid catastrophe terminal embarrassment certain doom being unlucky. We here at Big I New York are, of course, above such silliness. As a rule, our staff members are stupid reckless confident enough to go on about their lives as if it were any other day.

    However, when if the predictable unexpected happens, insurance is there to say I-told-you-so pay for the financial fallout. Here, in no particular order, from the home office in Harpursville, New York, are the top five Friday the 13th hazards and how prudent superstitious individuals and businesses avoid big trouble an eternal curse OMG-what-were-you-thinking accidental loss:

    Ladders. Look, if you insure contractors, you know all about New York's scaffold law. Many scaffold law claims involve someone standing on a ladder and suddenly finding himself subject to the earth's gravitational pull in a most unwelcome way. The ladder shifts, it moves, it spins, it does the hokey-pokey, whatever, and a worker falls and gets hurt. But what about if someone walks under the ladder? The ancient Egyptians caught onto this one 5,000 years ago. Fortunately, while many Commercial General Liability insurance policies exclude coverage for an employee falling off a ladder, relatively few exclude coverage when someone tempts fate by walking under one. So far.

    Black cats. I know someone who has a black cat. At some point, that cat must have crossed in front of her. You know what it did? It developed a taste for the water supply line leading from her plumbing system to her toilet. Said cat also had reasonably sharp cat teeth. The result was a pond in what was at one time her downstairs. It took six months and thousands of dollars from her homeowners insurance company to repair the damage. Against her better judgment, she still has the cat.

    Mirrors. Ever stop to think how often you come across mirrors during the day? They're in multiple rooms in your home. There are at least three of them attached to your car. They're in public restrooms. And any one of them can break. Sure, your car insurance and homeowners insurance will cover the cost of broken mirrors if the amount of damage clears the deductible. And if your skin happen to contact the broken glass, medical insurance covers part of the cost to sew you up. But what do you do about the next seven ​years? Not leaving the house isn't an option. There are mirrors in there.

    Step on a crack ... In general, I believe I caused my mother enough grief during my formative years. I don't want to be responsible for putting her in traction because I failed to step cleanly on a single panel of a sidewalk. However, should I chew gum while walking fail to pay attention, the good news is she has Medicare.

    Umbrellas. No, not an umbrella insurance policy, though that would certainly mitigate my financial burden should Medicare choose to subrogate against me following the previous item on this list. I'm referring to opening an umbrella in the house. Generally speaking, unless one owns a black cat with a tendency to gnaw on water supply conduits, there is little need for an umbrella whilst indoors. However, the possibility can't be ruled out that someone may want to show off their brand new Taylor Swift: The Eras Tour umbrella in the living room. This could dislodge household furnishings, scratch walls, and potentially put someone's eye out. My advice is to make sure you're carrying either homeowners or renters insurance with high limits for both personal property and personal liability. Or make sure you're outdoors when you show off your umbrella. But that's just me.

    So, if you're one of those people who believe in fate karma bad luck, these are the top insurable hazards and how you can cover them. If you have any questions or comments, look for me in the Big I New York lunchroom. I'll be the one tossing salt over my left shoulder.

  • 2022
    9/1

    What's in a Name? How To Change the Name on Your NY License

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    It doesn't happen often, but occasionally a New York licensed insurance agent or broker needs to change the name on their license. Subsection (f) of Section 2102 of the New York Insurance Law requires a "licensee" to notify the state Department of Financial Services (DFS) "upon changing his, her or its legal name."

    Probably the most common reason for this is when a woman marries and assumes her husband's last name. Another circumstance may be when a marriage ends and the former wife wants to resume using her maiden name. ​And some people like to change names every few years

    Whatever the reason, if you want to change your licensed name, write an email to the Licensing Bureau of the DFS at licensing@dfs.ny.gov and include the following:

    • A copy of your current license
    • Your date of birth
    • The last four digits of your Social Security number
    • A copy of your driver's license, if you have one
    • A copy of your marriage certificate or other legal documentation of the name change, such as a judge's order

    The bureau will respond if they have questions or need additional information. Otherwise, they should amend your license.

    That's pretty much all there is to it. 

  • 2019
    3/14

    Two Minutes With Tim - Cybersecurity Regulation - 3rd Party Questionnaire

    ​I attempt to clear up some misunderstandings about the "due diligence" requirement when it comes to third party service providers.

    Two Minutes With Tim: NYS Cybersecurity Regulation (TPSP Questionnaire) from Big I New York on Vimeo.

  • 2018
    12/6

    Two Minutes With Tim: Additional Insured vs. Additional Interest

    ​My last video was about renters insurance and the additional interest endorsement. A few Big I New York members asked for a discussion of the difference between an additional interest and an additional insured. This video explains that difference.

     

    Additional Interest vs. Additional Insured from Big I New York on Vimeo.

  • 2018
    11/30

    Two Minutes With Tim: Renters Insurance & Additional Interests

    ​Your insured's landlord wants to be listed as an "additional interest" on the renters insurance policy. What does that mean and can it be done? Watch the video for the answer.

     

    Two Minutes with Tim: Renters Insurance & Additional Interests from Big I New York on Vimeo.

  • 2018
    11/29

    Two Minutes With Tim: National Flood Program To Expire

    ​Here we go again. The National Flood Insurance Program is going to expire on Sept. 30, 2017 Dec. 22, 2017 Jan. 19, 2018 Feb. 8, 2018 March 23, 2018 July 31, 2018 Nov. 30, 2018.

     

    Two Minutes With Tim: Expiration of the National Flood Insurance Program from Big I New York on Vimeo.

  • 2018
    11/19

    Two Minutes With Tim: Measles Outbreak

    ​The measles virus is on the loose in Brooklyn and Rockland County, not to mention at least one county in our neighboring state of New Jersey. Suppose 20 people in your area get the measles and they're able to trace the source back to your family. Got liability insurance for that? Watch the video to find out ...

    Two Minutes With Tim: Measles Outbreak from Big I New York on Vimeo.

  • 2018
    10/29

    We Interrupt This Blog For An Important Announcement

    Red Sox World Series Champions 

    THE BOSTON RED SOX ARE THE
    2018 WORLD SERIES CHAMPIONS!!!

    We now return you to your regularly scheduled blog.


     

  • 2018
    10/18

    Facebook Live Video on Sexual Harassment Prevention

    ​This is a recording of a 16-minute Facebook Live video I did on October 15 about New York's sexual harassment prevention law.

     

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