A bulletin from the Professional Insurance Agents of New York noted that the New York Property Insurance Underwriting Association has now been closed down for new business for 20 days, equaling its previous record shut-down in 1997. (See IJ Website May 15)
“By now, NYPIUA has processed several days’ worth of nonrenewals, affecting policies with renewal dates of June 29, 2003 and beyond,” said the bulletin. “PIANY maintains daily contact with key Senate and Assembly figures who will play decisive roles in determining NYPIUA’s reauthorization.”
As a service to its members the PIANY has prepared a “fact sheet” for agents to share with their clients which offers guidance for the questions being asked, e.g. “Do you have current NYPIUA policyholders or applicants who are now being affected by the shut-down? Don’t know what to tell them?”
The NYPIUA Shut-down Fact Sheet is available, for PIANY members-only, on the PIA Web site at: www.piaonline.org/.
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