Advocacy

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…

What Happened:On November 21st, Governor Hochul vetoed our bill, S.6028/A.6877, which would have allowed insurance companies to waive CARCO inspections. In her veto message, the Governor cited concerns that the bill would remove protections against fraud, increase insurance rates, and harm the businesses that perform photo inspections. What's Next:While we are deeply disappointed the bill was vetoed, we remain confident there is a path forward. In her veto message, Governor Hochul stated that “with modern technology the [photo inspection requirement] could be updated in a responsible way," and that “I am willing to work with the legislature, the insurance industry, and the automotive industry during…