Advocacy

​​With three weeks of session remaining, activity in the capitol is ramping up to fever pitch (virtually, of course.) This is typically the time when bad bills start moving fast and furious, and we've got your back. On Wednesday, Assemblywoman Hunter amended her bill to modernize the process for placing excess lines coverage. The amended bill includes provisions to significantly streamline the required affidavit, eliminating all required information except name and NAIC code of the declining insurer and the reason the broker believed the insurer would consider writing the coverage. However, the provisions eliminating the requirement to obtain three declinations have been removed from the…

New York lawmakers are currently considering the passage of a massive government takeover of health insurance. The numbers for the New York Health Act, which would enact a single-payer healthcare system, are staggering: more than 160,000 jobs eliminated; $253 billion in new taxes on employers and workers (more than double the entire state budget); business tax increases of over 2,000%.It is no understatement: single payer is an existential threat to our profession. We and a diverse coalition of allies have successfully held this devastating bill at bay for years, but the threat is growing. In the wake of a historic leftward shift in the Senate…

​Given New York's political climate, playing defense is one of the most important ways Big I NY stands up for you in Albany. New York's legislative session concludes in four weeks, and as is typically the case, numerous harmful bills have popped up.Last week, Assemblywoman Helene Weinstein (D, Brooklyn) introduced a bill to create a statutory “bad faith" cause of action, allowing policyholders to sue insurance companies for a wide range of alleged unfair conduct. The bill includes a raft of incentives for trial attorneys, including extra-contractual damages, double and treble damages, attorney fees, interest, and penalties for failing to settle claims in as little…