Advocacy

During this week's Independent Agents Advocacy Week, more than 70 independent agents conducted virtual meetings with more than 40 state legislators to call for pro-policyholder reforms. Key issues included making the auto photo inspection requirement voluntary, streamlining the process for placing coverage in the excess market, repealing the anti-arson application, and preventing no-fault insurance fraud.The event gave Big I NY members the opportunity to meet face to face with their elected state representatives. Kelly Gonyo, owner of the Blue Line Insurance Agency said,“I am so fortunate to have been given an opportunity to use my voice to directly speak with our lawmakers who represent us in…

​This week, the Senate Insurance Committee voted in favor of Big I NY – supported legislation which would make it easier to place commercial coverage in the excess market. The bill, S.498 (Breslin, D-Bethlehem)​, would simplify and streamline the affidavit process, and exempt commercial lines insurance transactions placed by wholesale insurance brokers from the requirement to obtain three separate declinations.New York's excess line market is critical to providing insurance for risks that are not underwritten by admitted carriers – such as those which are unique, volatile, or lack loss history. Current law requires brokers to obtain three declinations from admitted carriers before an excess line…

This week, Governor Cuomo released his proposed state budget. This is the first step in the state's budget process. Next, the Senate and Assembly will release their own budget proposals ("one-houses"), then the three budget proposals are negotiated into a final budget, which must be passed by April 1st.The governor's proposal includes several key provisions of interest to independent agents:No-Fault Reform The Superintendent of Financial Services would be granted greater authority to prohibit a provider of health services from demanding or requesting payment for health services rendered under the no-fault insurance law. The bill also establishes the Motor Vehicle Insurance Task Force, which will examine alternatives…