Over this past weekend, the New York Times ran a rather unflattering article about the employment practices at Amazon.com. Titled Inside Amazon’s Thrilling, Bruising Workplace, the article by Jodi Kantor and David Streitfeld described an atmosphere that borders on slave-driving and cruel. They wrote about employees receiving emails after midnight and follow-up text messages when the recipients fail to respond. They quoted an employee who said nearly every person he worked with cried at their desks at some point.
I learned earlier today that the New York State Department of Financial Services has disapproved ISO's filing of endorsements to address the "where you reside" issue. Correspondence in the filing expressed concerns about whether, under some carriers' underwriting guidelines, the endorsements might reduce coverage. The examiner also felt that it was unclear how carriers would interpret them, given the varying underwriting guidelines.
We at IIABNY will discuss this decision and what, if anything, we should do next. For now, though, the ISO Homeowners insurance program will maintain the status quo on October 1.
NPR's excellent Planet Money podcast recently did a show about how we as humans become comfortable with frightening technology. Did you ever wonder why elevators used to have operators in them? It's because, once upon a time, people didn't fully trust elevators and they wanted someone there to take control if necessary.
I have returned this morning from 11 days off. I spent a few days in the Thousand Islands region with some college friends, spent a week with my family on the Jersey Shore, played golf badly, coated myself with SPF infinity sunblock and sat on the beach, read a bunch of books, and pretty much forgot about insurance for two weeks. Today, I bear a striking resemblance to the picture displayed above.
Nevertheless, it's a new dawn, it's a new day ... sorry, lapsed into song for a minute there. But it is a new day, because New York's law governing the use of certificates of insurance took effect one week ago today (I celebrated by taking a nap on the beach in Ocean Grove, NJ.) Accordingly, the questions from IIABNY members have been coming in fast and furious in my absence. There is one question that we've gotten from all corners of the state, so I think it's worth addressing in an addendum to my earlier post about the myths surrounding the law.