Yearly Archives: 2023

​On January 4th, Assemblyman David Weprin (D, Queens) was named chair of the influential Assembly Insurance Committee. Weprin succeeds former chair Kevin Cahill (D, Kingston) who lost re-election in 2022.​​ Virtually all legislation affecting the insurance laws and regulations in NY must be approved by the Insurance Committee before a full vote of the Assembly can be taken. As such, it is one of the most important legislative committees to our industry.Assemblyman Weprin represents the 24th Assembly District in Queens, the same district represented by his father, the late Assembly Speaker Saul Weprin, for 23 years and his brother Mark Weprin, for over 15 years. In…

For the first time ever, New York has won the coveted “Presidents Cup", awarded to the state whose past presidents contribute the most to InsurPac. Additionally, New York shattered its annual InsurPac fundraising goal, raising nearly $53,000. Nationally, InsurPac reached an all-time record high of $1.27 million, making it one of the largest small business political action committees in the nation. We wish to thank each and every agent who generously contributed to InsurPac in 2022. We also extend our deep gratitude to all our past presidents who went above and beyond this year. Your support is critical to making the Big “I" a force…

On December 30th, Governor Hochul signed into law legislation that will reduce paperwork burdens on brokers placing coverage in the excess market and allow them to better serve their customers. The bill, which Big I NY strongly supported, streamlines the affidavits that brokers must submit upon placing excess coverage. Prior to the bill's signature, the form required a total of twenty-one data elements in total for three declinations. The new law is effectively immediately and removes name of declining representative, affiliation of the representative, and reason for the declination from the affidavits.We thank Assemblywoman Pam Hunter and Senator Neil Breslin for sponsoring this important bill…