Advocacy

Body: ​For the fourth year in a row, Gov. Kathy Hochul has vetoed the “Grieving Families Act,” also known as the “Wrongful Death” bill. The proposal would significantly expand the types of damages families could recover after a wrongful death, adding broad noneconomic categories such as grief, emotional anguish, and loss of companionship.The Governor’s veto message emphasized affordability concerns, warning that the measure would sharply increase claim costs and, as a result, drive up insurance premiums for patients and consumers across New York.​In a letter urging the veto, Big I New York noted that the cost of these expanded awards would ultimately fall on policyholders…

Abstract: The causes of rising Homeowners insurance premiums in New York are mostly self-inflicted, Big I New York told a state Senate panel Tuesday. Body: ​The causes of rising Homeowners insurance premiums in New York are mostly self-inflicted, Big I New York told a state Senate panel Tuesday. The remarks came at a day-long special hearing on affordability issues in the state's residential property insurance market. Members of the Senate's standing committees on Insurance; Investigations and Government Operations; and Housing, Construction, and Community Development heard testimony from many different perspectives inside and outside the industry.The hearing stemmed from an investigation the three committees launched last…

Body: ​It’s official—legislation repealing the “Anti-Arson” application has been signed into law by Gov. Hochul.  The change goes into effect immediately, but we strongly advise adhering to carrier requirements until they have implemented this change to their processes.  A.112/S4157 repeals Section 3403 of the New York State Insurance Law​.  After being repealed in both the cities of Buffalo and Rochester, the anti-arson form requirement was only applicable to certain properties in New York City.  With the Governor’s signature, no property owners in New York state are required to complete the form.  Big I New York has fought for several years to have this outdated requirement repealed. Thank you to  Big…