Please indicate your rating of priority for each of these issues by dragging and dropping them from the column on the left to the column on the right with the highest priority issue at the top. Moreover, please identify any NEW legislative issues that you think would be appropriate (and meet our five criteria below):
- The potential impact upon the financial health of insurance agents.
- The potential to reduce impediments to agency operations and/or E&O exposures.
- Its impact on the insurance-buying public.
- The political feasibility of the legislation passing.
- Other considerations specific to the bill or issues as identified by the committee.
Allow State Insurance Fund to pay commissions
PIANY should work to allow the NYSIF to pay commissions to licensed brokers.
Require NYSIF brokers to be licensed
PIA should work to require that individuals who procure a NYSIF policy for their clients either be licensed or be required to satisfy workers’ compensation education and competency requirements.
Repeal automobile photo inspection requirements
PIA should work to fully repeal the requirement for mandatory automobile photo inspections.
Reform New York’s Scaffold Law
PIA should work to reform New York's Scaffold Law and work to enact other tort-reform proposals, such as providing for a defense of contributory negligence.
Reform automobile no-fault to eliminate fraud
PIA should work to reduce automobile no-fault fraud.
Standardize coastal homeowners insurance policies hurricane/windstorm deductibles
PIA should work to standardize hurricane and windstorm deductible triggers in coastal homeowners insurance policies.
Enact workers’ compensation policyholder protections—notice of cancellation, etc.
PIA should work to put in place protections for workers’ compensation policyholders, such as notices of cancellation.
Excess-line market reforms—ease declination requirements
PIANY should work to enact excess-line market reforms, including designating 25 percent or more in premium from an authorized insurer over an excess-line market quote as a declination allowing access to the excess-line market.
Consolidate property/casualty; life; accident-and-health licenses on to one document
PIANY should work to consolidate producer licenses on to a single license.
Prohibit price optimization
PIANY should work to outlaw “price optimization” in property/casualty rates. Price optimization refers to an insurer’s practice of varying rates based on nonrisk-related factors. Price optimization is the use of mathematical analysis by a company to determine how customers will respond to different prices for its products and services through different channels.
Enhanced agent/broker access to disaster sites
PIANY should work to allow agent and broker enhanced access to disaster sites.
Repeal anti-arson application requirements statewide
PIANY should work to repeal the anti-arson application requirement statewide.
Provide policyholders copies of property inspection reports upon request
PIANY should work to ensure that policyholders are able to receive inspection reports when paid for in addition to the policy premium.
Increase minimum automobile insurance coverage requirements
PIANY should work to increase the minimum insurance coverage requirements for motor vehicles rented or leased in the state.
Increase mandatory SUM/UM coverage requirements
PIANY should work to require automobile insurance companies to offer policyholders underinsured motorist coverage in the same amount of the coverage provided for in their bodily injury liability policy.
Eliminate NYSIF’s 30-day notice of cancellation policy
PIANY should work to eliminate the competitive advantage allowed to the New York State Insurance Fund, including the elimination of the 30-day notice requirement and the NYSIF short-rate penalty schedule.
Fair and accurate automobile insurance quotes—require MVRs prior to binding
PIANY should work to help independent agents compete with direct writers in personal lines by restricting their ability to offer artificially low initial premiums by requiring MVRs be run prior to binding.
