Advocacy

Abstract: It was a busy Friday afternoon for Governor Hochul as she acted on several bills sent to her desk for action. Body: ​It was a busy Friday afternoon for Governor Hochul as she acted on several bills sent to her desk for action.Hurricane Windstorm Deductible Trigger: Gov. Hochul APPROVED A.2866/S.4199, which directs the superintendent of the New York State Department of Financial Services (DFS) to “establish standards for windstorm deductibles, which create, to the greatest extent possible, uniformity in the operation of such deductibles with respect to the triggering event."The new law requires the DFS to issue and adopt regulations regarding how triggering events…

Abstract: Big I NY is pleased to share that we have become a member of Consumers for Fair Legal Funding—a coalition that supports regulation of the lawsuit lending industry through transparency, disclosure, and limits on interest charges and fees. Body: Big I NY is pleased to share that we have become a member of Consumers for Fair Legal Funding—a coalition that supports regulation of the lawsuit lending industry through transparency, disclosure, and limits on interest charges and fees. With growing concerns around increasingly abusive practices by the third-party litigation funding industry, this is a unique opportunity to join a diverse group of organizations committed to…

Abstract: This week the Big I NY legislative team and a small group of agent members met with Counsel for Gov. Hochul to share perspective on the wide variety of windstorm deductible triggers used in New York insurance policies. Body: ​This week the Big I NY legislative team and a small group of agent members met with Counsel for Gov. Hochul to share perspective on the wide variety of windstorm deductible triggers used in New York insurance policies.  Late in the legislative session, lawmakers passed A.2866/S.4199, which directs the superintendent of the New York State Department of Financial Services (DFS) to “establish standards for windstorm…