Albany Update: Advocacy Week(S), Budget Deal Reached, Priority Excess Lines Bill Passes Senate

Agents Advocacy Week(S)This week, Big I NY member agents from across the state descended on Albany (virtually) to urge lawmakers to support several pro-consumer bills. Agents urged members of the Senate to co-sponsor our bill to make auto photo inspections (CARCOs) optional at the discretion of insurance carriers. This bill recently passed the Assembly for the first time ever, and we are ramping up the pressure to pass the bill through the Senate before the end of session in June. Our agents also urged for the passage ofbills to eliminate the 30-day notice to withdraw from the State Insurance Fund, eliminate the diligent effort requirement when placing…

Continue ReadingAlbany Update: Advocacy Week(S), Budget Deal Reached, Priority Excess Lines Bill Passes Senate

Momentum Building: Big I NY Photo Inspection Bill Passes the Assembly

​On Wed​nesday, the New York State Assembly passed our bill to make CARCO inspections optional at the discretion of insurance carriers. We thank the bill sponsor, Assemblyman Kenneth Zebrowski (D, Rockland) for his leadership on this top-priority issue.This is a historic and important step forward. The bill has never before passed either chamber. The vote is the culmination of years of hard work. You called, you emailed, you met with lawmakers. Together we made the case, and the Assembly has listened. Now, the bill must pass the Senate, then be signed by the Governor. Tell your Senator to support this critical bill today!We are pulling out all the stops…

Continue ReadingMomentum Building: Big I NY Photo Inspection Bill Passes the Assembly

Albany Update: Excess Lines Simplification Bill Passes Senate, Budget Negotiations Underway, HERO Act Designation Ends

​Big I NY Applauds Senate Passage of Excess Lines Affidavit Simplification Bill:This week the New York Senate passed Big I NY-supported legislation to streamline the affidavit required when placing coverage in the excess market. The bill, S.8127 sponsored by Senator Neil Breslin (D, Albany), would reduce significant burdens on agents by streamlining the reporting of declinations by reducing declination data elements from twenty-one to nine. New York is one of only 13 states/jurisdictions that require declination information for each policy to be filed with the state or a stamping office. Of these states New York filings are the most burdensome, with seven required data elements…

Continue ReadingAlbany Update: Excess Lines Simplification Bill Passes Senate, Budget Negotiations Underway, HERO Act Designation Ends