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  1. Pennsylvania no-fault | Ask PIA

    The Pennsylvania PIP benefits appear to be very similar to New York where the PIP benefits follow the car. Please confirm.

    Pennsylvania PIP benefits are most similar to New Jersey in that primary coverage follows the injured person as shown in the following statute: 75 Pa. CS. 1713.  Source of benefits. (a) General rule—Except as provided in Section 1714 (relating to ineligible claimants), a person who suffers injury...

  2. Hold harmless agreements | Ask PIA

    We have always advised our general contractor clients to have their subcontractors sign a hold harmless agreement. Recently, we were told that hold harmless agreements are illegal in New York and New Jersey. Is this true?

    Both New York and New Jersey law prohibit certain types of hold harmless agreements in construction contracts. New Jersey’s law [N.J.S.A. 2A:40A-1] bars such agreements in construction contracts only where the person making the promise to indemnify (usually the subcontractor or the “the indemnitor”) agrees to indemnify the indemnitee (the...

  3. HO coverage and fallen trees | Ask PIA

    Has there been a change in homeowners coverage for trees that are blown down but don’t land on a structure? We think we saw something to this effect.

    The ISO HO 2011 provides coverage for debris removal from the residence premises up to $1,000 for any one loss regardless of the number of fallen trees. However, the maximum amount paid for the removal of any one tree is $500 regardless of who owns the tree. Also, coverage is...

  4. Subrogation receipts, ’loan receipts’ | Ask PIA

    Could you give us a brief refresher course on subrogation receipts and what it means when our insured signs one?

    The subrogation receipt confirms the status of the insurer as the party of interest. Although the subrogation receipt is not strictly necessary to entitle an insurer to become a lawful subrogee, the subrogation receipt does provide a clear acknowledgment by the subrogor (the insured) of the subrogee’s rights to pursue...

  5. Management services for 401(k) plans | Ask PIA

    I think I saw something about a new law that lets insurance agents provide investment advice in connection with 401(k) plans. Can you give me the details? Does this have anything to do with Enron?

    It’s not a new law, but you did see something. The U.S. Labor Department has changed its thinking on whether to let workers opt for active management of their 401(k) investments by an independent advisor. The change was supported by insurance agent trade groups. Thanks to this ruling, workers may...

  6. Captive insurers | Ask PIA

    Can PIA provide me with some information on captive insurance companies?

    The captive concept has been in use for more than 100 The captive concept has been in use for more than 100 years. By definition, a captive is an insurance company that insures or reinsures the risk of its parent or an associated corporation. That said, there are several variations...

  7. Post-loss waiver of subrogation | Ask PIA

    We have a client who is a tenant insured on an ISO Commercial General Liability Policy. The tenant’s lamp started a fire that caused significant damage to the landlord’s building. The two corporations (the tenant and the landlord) are owned by the same people. The landlord’s insurer has paid $170,000...

    A better solution is available. Since the two corporations, landlord and tenant, are owned by the same individuals, have the landlord agree to waive rights against the tenant. Under standard ISO policies (CP 00 90), the landlord can do so without violating its duties under the policy. See Conditions I....

  8. Military service and youthful operators | Ask PIA

    We insure a family whose young son is away serving in the military. Do we need to rate him as a youthful operator on his family’s auto policy?

    The definition of a “resident” in the ISO personal auto rules manual states: A person in active military service with the armed forces of the United States of America is not considered a resident in the household unless this person customarily operates the auto. So, if the...

  9. Reporting of administrative actions | Ask PIA

    Regarding licensing, what would be considered an “administrative action” that an insurance producer must report to the insurance commissioner?

    The requirement to report an administrative action is generally 30 days across all states with regard to any administrative action taken against a licensee in another jurisdiction. For further clarification on how the New York State Department of Financial Services views this issue, see: http://www.dfs.ny.gov/insurance/ogco2008/rg080301.htm.“�under Insurance Law Section 2110(i), an insurance producer...

  10. Nonpayment cancellation—policies paid from escrow accounts | Ask PIA

    Is there any special rule requiring an insurance company to notify the policyholder due to nonpayment of premium, where the policy is paid by the mortgagee?

    Yes. If the notice requirement is not followed, the cancellation is not valid. The law has special notice requirements where premiums are paid by the mortgagee out of an escrow account: With respect to all covered policies for which the insurer submits bills for real property...

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