PRIORITY ISSUE: SCAFFOLD LAW REFORM
IIABNY SUPPORTS REPEALING OR REFORMING THE ABSOLUTE LIABILITY STANDARD IN LABOR LAW 240 AND 241.
Certificates of Insurance
- IIABNY supports legislation or other regulatory action that will prohibit third parties from requiring producers to issue certificates of insurance that misstate the terms and conditions of underlying insurance policy.
Homeowner's Insurance Availability & Affordability
- IIABNY supports standardization of events that trigger hurricane deductibles in homeowners’ policies
- IIABNY opposes further restrictions on homeowner’s insurance non-renewals
- IIABNY supports a catastophe fund
- IIABNY believes that aggressive implementation of these legislative initiatives is necessary to realize the benefits intended for coastal property owners.
- State Insurance Fund: IIABNY supports an even playing field for SIF and
other workers’ compensation insurers.
- Aggregate Trust Fund: IIABNY supports changing the pre-funding
requirements of the aggregate trust fund.
- Renewal Notices: IIABNY believes that businesses deserve the same type of advance notice of substantial premium increases to their workers’ compensation policies that they receive for other types of commercial insurance policies.
- IIABNY supports agent involvement in the state’s health benefit exchange
and receipt of fair compensation for their services.
Excess & Surplus Lines Market
- IIABNY supports changes to the Excess Lines law to facilitate the ease of doing business.
Modernization of Outdated Insurance Law & Regulation
- IIABNY supports changes to insurance regulations that allow producers to maintain premium trust accounts in out-of-state banks.
- IIABNY supports changes to the rules requiring specific approval from insurance companies for agents and brokers to hold fiduciary funds in an interest-bearing account.