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  1. Advertisements—location of insurer | Ask PIA

    Does the requirement that insurance agency advertisements that use insurer’s names include the location of the insurer’s principal office apply to lists of companies represented, such as Yellow Pages and agency website listings?

    Yes, according to an Office of General Counsel opinion issued Jan. 7, 2008, the use of the insurers’ names without indicating the location of their principal office in an advertisement violates Insurance Law Section 2122(b). Moreover, the Insurance Law draws no distinction between particular types of advertisements, such...

  2. Broad-evidence rule | Ask PIA

    What is the law regarding the broad-evidence rule and actual cash value in Connecticut?

    Placing a value on damaged property is not always easy to do. Guided by the principle of indemnity, everyone agrees that the insured should be made whole; that is, placed in the same economic position had the damage not occurred. However, once you move beyond theory toward practical application, the...

  3. Terminated agent’s rights | Ask PIA

    What are my rights as a terminated agent in Vermont?

    The insurer must notify the producer of termination within 15 days of communicating such termination to the commissioner (8 V.S.A. 4813m). Within 30 days of receiving such notice, the producer may file written comments concerning the substance of the notification with the commissioner. The producer shall, by the same...

  4. Referral fees/rebating—lottery tickets | Ask PIA

    May our agency offer lottery tickets costing $5 as an incentive to our clients for providing referrals? We are concerned because, while the tickets cost only $5, if they are winners the pay-out might be more than $100, and we would be providing them to clients.

    Often an insurance agency looking to increase visibility or grow sales will engage in a marketing plan featuring a program structured to reward current clients for referring a prospective new client. As stated in N.J.A.C. 11:17A-1.2, offers of consideration, (money, favor, advantage, object, valuable consideration) which have a cost of...

  5. TRIPRA options | Ask PIA

    Can you tell me how my clients will be impacted by the Terrorism Risk Insurance Program Reauthorization Act of 2007 with respect to offers of terrorism coverage?

    Besides extending the program for another seven years, the most significant change affecting your clients is the removal of the distinction between foreign-based terrorism events and domestic-based terrorism events. Both types must be offered to policyholders as coverage for a “certified act of terrorism” under the terms of the Terrorism...

  6. Real Time vs. comparative rating | Ask PIA

    I keep hearing about Real Time and comparative rating; but, I’m unsure what each of these terms really means and how they differ. Could you please explain these terms for me?

    Real Time implements an overall objective to make doing business easier, encompassing many different agency functions, including comparative rating, billing inquiry, claims inquiry, personal- or commercial-lines download, etc. Real Time is a major time-saver that can expedite a variety of these transactions. The basic definition of Real Time is...

  7. Website accessibility | Ask PIA

    Does my website have to be accessible to people with disabilities?

    Yes, or you have to offer an equivalent alternative. The U.S. Department of Justice has said that public accommodation includes access to websites. As more and more business is done via the internet, lack of access for the disabled puts them at a distinct disadvantage. Thus, your website needs to...

  8. Customer harassment of employee | Ask PIA

    Am I liable if a customer harasses one of my employees?

    Yes. In Freeman v. Dal-Tile Corp., the Fourth Circuit Court found that the employer failed to take action to stop the harassment of an employee and was held responsible. Complaints from an employee about harassment by a customer should be handled in the same manner as you would handle a...

  9. Diminished value | Ask PIA

    Are personal auto insurers providing personal automobile insurance in New York required to pay for the diminished value of a vehicle that has been repaired after an accident?

    “Diminished value” or “diminution in value” is a discussion that has percolated around the country. It is the reduction in market value of a vehicle that has been fully repaired following an accident. Consumer advocates and trial lawyers support legal theories that allow the recovery of diminished vehicle value from...

  10. Notice of group health plan termination | Ask PIA

    What notice is an employer required to give to employees, when it terminates its employees’ group health plan?

    New York State Insurance Law Sections 3221 and 4305 currently provide a right to convert to an individual policy of accident and health insurance without producing evidence of insurability and without a gap in coverage, to persons who lose their coverage under a group health insurance...

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