Albany Update: Support Builds for Photo Inspection Reform, Grassroots Campaign Intensifies, Excess Lines Affidavit Bill Clears Legislature

Support Builds for Photo Inspection ReformThis week, Big I NY rallied twenty business and insurance associations to support our bill to make photo inspections optional, the Auto Insurance Consumer Relief Act (AICRA). The wide ranging group included statewide employer associations such as the Business Council of NYS, National Federation of Independent Business, the NY Farm Bureau, several regional chambers of commerce, and all of the state's agent associations and P&C carrier trades. Our letter was delivered to all members of the state Senate, and was covered in multiple publications including State of Politics a premiere state political report. The bill has passed the Assembly, but…

Continue ReadingAlbany Update: Support Builds for Photo Inspection Reform, Grassroots Campaign Intensifies, Excess Lines Affidavit Bill Clears Legislature

Industry Roundup: Claims Frequency Up for 2021, but Workers’ Comp Profitability ‘Unprecedented’; Munich Re Writes Down $740M Bonds Over War in Ukraine; How Many Americans Lie on Auto Insurance Applications?; What Drove Auto Insurance Shopping Trends in Q1

​Court Says Federal Law Preempts, Tosses New York Suit Over Amazon Worker SafetyA New York state appeals court on Tuesday dismissed state Attorney General Letitia James' lawsuit accusing Amazon.com Inc. of failing to adequately protect thousands of workers at two New York City facilities against COVID-19.Munich Re Writes Down $740M Bonds Over War in UkraineMunich Re incurred steep losses on Russian and Ukrainian bonds in its investment portfolio and warned of risks to its outlook from the conflict between the two countries, along with volatile markets and the pandemic.Claims Frequency Up for 2021, but Workers' Comp Profitability 'Unprecedented'For the first time in more than a…

Continue ReadingIndustry Roundup: Claims Frequency Up for 2021, but Workers’ Comp Profitability ‘Unprecedented’; Munich Re Writes Down $740M Bonds Over War in Ukraine; How Many Americans Lie on Auto Insurance Applications?; What Drove Auto Insurance Shopping Trends in Q1