Advocacy

Body: ​ Big I New York Regional Director Eileen Frank and Assistant Vice President of Government Relations, Travis Wattie, recently participated in a series of Affordability Roundtables hosted by the New York State Senate Republican Conference. Their goal: help lawmakers better understand how insurance works and highlight practical reforms to address New Yorkers’ growing affordability challenges. During the Manhattan roundtable, Eileen Frank used a simple but powerful visual to explain the basics of insurance. Holding up a cup, she described premiums as what goes in and claim payments as what comes out. Insurance, she emphasized, is pooled risk—a modern extension of neighbors helping neighbors. But when claims are inflated or…

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…