PIWA seeks your input on Contract Certainty
We would like your help. PIWA has been asked to comment on
a proposed guidance letter on contract certainty, following up on its Circular
Letter No. 20 of 2008. In Circular Letter No. 20, the Department sought to
minimize disputes because insurance policies haven’t been delivered to
policyholders. The Department recommended stakeholders look to the
principles established in the United Kingdom.
In the proposed guidance
letter (attached), the Department is seeking to address, among other specialized
policies, policyholders in the excess line market, in the latter part of
2010. In New York, an excess line policy must be filed within 45 days of
procurement. PIWA believes the goal of contract certainty is laudable, but
is concerned regarding the responsibilities. Let us know what you think so
we can appropriately respond to the Department. Submit your comments by
Dec. 22, 2009 to PIWA: email@example.com
Mark your calendar!
PIWA is in the process of planning its 2010 events. This year,
our conference will be held the afternoon and evening of Oct. 20, at the Pearl
River Hilton. Mark your calendar now to ensure that you'll be able to
participate in our hands-on, timely education programs and our annual Service to
the Industry Recognition Dinner.