Jun 7, 2016

Bill to establish state insurance advisory board amended on Senate floor at PIANY's request

The state Senate amended a bill that would establish state insurance advisory board within the New York State Department of Financial Services to include two agent representatives. The amendment was made at PIANY's request on June 6, 2016. Prior to the amendment, the membership of advisory board did not include the representation of insurance producers.

The bill (S-7536), sponsored by Senate Insurance Committee Chairman Sen. James L. Seward, R-51, would establish a board appointed by the superintendent of insurance that would work with the superintendent to promote the development and growth of the insurance industry in New York state.