Mar 29, 2019
PIANY priority bill among those introduced in the state Legislature
Assemblyman Sean Ryan, D-149, recently introduced A.6831 (Assembly version of S.3753, introduced by Sen. Neil Breslin, D-44). This bill was initiated by PIANY, and is a 2019 legislative priority that relates to providing a commission schedule to pay licensed insurance brokers for services provided to their clients who obtain coverage through the New York State Insurance Fund.
Currently, agents do not receive a commission when placing workers’ compensation coverage with the NYSIF. The NYSIF leadership claims it does not have the authority to pay commissions; this legislation would grant the NYSIF that authority.
Another bill of interest, S.4534, which was introduced by Sen. Kevin Parker, D-21, would direct the New York State Department of Financial Services superintendent to distribute rules and regulations to limit the use of credit scores to determine automobile insurance premiums.