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July 28, 2014
The Professional Insurance Wholesalers Association of NY held their Summer Symposium on June 19-20, 2014 at the Foxwoods Resort & Casino. Keynote speaker Paul Miskovich, Senior Vice President at Axis is the product leader for all of the cybersecurity, technology and E & O lines at Axis. His keynote informed participants on the current state of cyber security, the data breach events that are becoming more prevalent and the insurability of cyber exposures.
Executive Director of the Excess Lines Association of NY, Dan Maher, Esq. gave a comprehensive overview of the legislative and regulatory issues and the general political climate in Albany; including the introduction of a bill that would help excess lines brokers by allowing them to rely on the financial analysis and reviews conducted by ELANY to establish that an insurer is financially secure.
Marc Pillinger, Esq. is the senior partner at his firm Pillinger Miller Tarallo, LLP and is a prominent attorney in the areas of Construction/Labor Law and environmental and toxic torts. He shared numerous examples of cases he litigated that fell under this precarious law, revealing the coverage and contractual implications of this law and how to protect your clients from some common misconceptions.
The Professional Insurance Wholesalers Association of New York State Inc. has announced a new, exclusive member benefit designed to provide quick, practical guidance on day-to-day issues facing the insurance wholesaler. The association will launch a toll-free phone line, called the PIWA Hotline, at (844) FOR PIWA or (844) 367-7492, by which members will receive free general guidance from renowned insurance law expert Milton Thurm, Esq., who is admitted to practice law in New York, Florida and other jurisdictions. Questions also may be submitted via email at piwahotline@piwa.org.
"PIWA members deal with complicated issues that are specific to the wholesale/excess and surplus lines broker, and these seem to grow in complexity every day. To help members, PIWA is providing practical guidance on our members' specific questions that arise from the wholesaler side of the insurance business, separate and apart from questions applicable to the brokerage industry in general," said PIWA President Maya Cruz, CPCU. "... issues such as premium collection; direct communication with insureds; claims situations and complaints; and issuance of insurance certificates, just to name a few. In addition, PIWA will monitor court decisions in New York and elsewhere and keep members advised of the latest trends and developments in cases involving the wholesale brokerage industry."
Members who call the PIWA Hotline will speak with an industry and legal expert with many years of experience in representing brokers in general, and wholesale/excess and surplus lines brokers in particular. The Hotline is intended to provide responses to inquiries quickly, recognizing that the answers to some questions require greater research, depending on the nature and complexity of the issues involved. Limited legal research will be undertaken when necessary in order to answer the question.
(NB: No attorney-client relationship will be established between the caller and legal professional as a result of inquiries made to the PIWA Hotline, although every effort will be made to provide guidance in accordance with established case law and existing statutes. By using the hotline, users acknowledge that PIWA is not liable or responsible with respect to any guidance offered by the legal professional and that PIWA specifically disclaims any liability or responsibility with respect to actions taken or not taken by users as a result of such guidance.)