Advocacy

Abstract: New York Gov. Kathy Hochul this weekend once again vetoed legislation to dramatically expand the categories of damages that can be recovered via lawsuit for an alleged wrongful death Body: ​New York Gov. Kathy Hochul this weekend once again vetoed legislation to dramatically expand the categories of damages that can be recovered via lawsuit for an alleged wrongful death. In the veto message, Gov. Hochul emphasized that the bill posed a risk to the financial well-being of the state's healthcare system and could lead to higher costs, including insurance premiums.Big I New York has been a staunch opponent of the proposal, citing a multi-billion…

Abstract: The New York State Department of Financial Services (DFS) and Big I New York met on Thursday to discuss pending regulatory action addressing the establishment of uniform standards around the windstorm deductible trigger. Body: ​The New York State Department of Financial Services (DFS) and Big I New York met on Thursday to discuss pending regulatory action addressing the establishment of uniform standards around the windstorm deductible trigger.  A recently-enacted law​ requires DFS to issue a regulation setting standards for the triggers.Colloquially referred to as the “three C’s”, we emphasized the importance of prioritizing clarity, choice, and competition throughout the rulemaking process.  With more than…

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…