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Big I NY Photo Inspection Reform Bill Clears Legislature:

This week, we celebrated a major milestone in our campaign to end mandatory CARCO inspections, with the State Senate passing our photo inspection reform bill by a vote of 55-8. The bill passed the Assembly in March, meaning that final step is for the Governor to sign it into law. The bill next must be “sent" by the Assembly to the Governor, which triggers a ten-day period for her to take executive action. Big I NY is working with the Governor and Assembly to ensure this process happens swiftly. We are optimistic the bill will be signed, as the language is identical to language that Governor Hochul included in her own executive budget proposal earlier this year. Nonetheless, we are urging all agents to call the Governor and register their support for this common-sense reform.

Excess Lines Reform Bill Advances in Senate:

Big I NY-priority legislation to eliminate the “diligent effort" requirement for commercial excess lines policies​ cleared the Senate Insurance Committee and advanced to the Senate floor, where it will soon be voted on by the full chamber. The bill must also pass the Assembly Insurance Committee and a floor vote by the full Assembly before being sent to the Governor.

State Insurance Fund Reform Bill Introduced:

On April 3^rd, Assemblyman David Weprin, Chair of the Assembly Insurance Committee, introduced comprehensive legislation which would level the playing field between the State Insurance Fund (SIF) and private carriers. The bill would require that the State insurance Fund be licensed by the Department of Financial Services (DFS) and subject to the same requirements as other insurance companies providing workers' compensation insurance, and would require that the Superintendent of DFS approve the rules adopted by SIF for the conduct of its business. It would also eliminate the requirement for SIF policyholders to provide 30 days' notice to withdraw from the Fund, and allow the payment of commissions. Big I NY strongly supports this bill and will work with Chairman Weprin to advance it this session.