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TRI-COUNTY & SUFFOLK COUNTY<br />
INDEPENDENT AGENTS TACKLE<br />
OUR COASTAL INSURANCE<br />
ISSUES WITH LOCAL<br />
LEGISLATORS<br />
Steven Visco<br />
MAY/JUNE 2008<br />
On Friday, April 18, a group of agents from the IIAA of Suffolk Co and the Tri-County Agents<br />
Association met with Assembly Insurance Committee Chair Joe Morelle and a group of Long<br />
Island Assembly Members. Joining Chairman Morelle were Assemblywoman Ginny Fields, who<br />
hosted the meeting in her Bayport office, Assemblywoman Patty Eddington, Assemblymen<br />
Phil Boyle and Mark Alessi, and a representative from Assemblyman Fred Thiele’s office to<br />
hear first-hand from agents about the deterioration of the Long Island homeowners market.<br />
Representing Tri-County were Evan Portnoy, Steve Folan, Ken Hehir, Frank Elorza, and Steve<br />
Visco. Representing Suffolk Co were Tom Crowley, Mike Romeo, John Mulvey, John Stype and<br />
Jim Sutton.<br />
continued below -<br />
Tom Crowley did a superior job leading the discussion and Assemblyman Morelle and the<br />
other legislators were very open in the discussion. In addition to presenting statistical data<br />
supporting the severity of market problems on Long Island, the agents provided specific<br />
examples of the pricing and availability issues affecting their customers. Among the solutions<br />
offered by the agents group was legislation to create incentives for insurers offering the<br />
equivalent of an HO-3 wrap policy, regulatory changes to allow pass-through of reinsurance<br />
costs and making the New York Property Insurance Underwriting Association (NYPIUA)<br />
permanent. Also discussed was legislation that would allow for flex-bands for rate increases<br />
or decreases, depending on specific levels of <strong>com</strong>petition within a market. The proposal<br />
would apply to all lines of insurance except workers <strong>com</strong>pensation and medical malpractice.<br />
Also discussed was the standardization of wind deductible triggers. Assemblyman Morelle and<br />
the other legislators in attendance promised to work with the association and the Senate<br />
Insurance Committee to find solutions that will create additional market capacity and ease<br />
the growing availability problem and coverage deficiencies.<br />
This was the second agents meeting we have had with Assemblyman Morelle in as many<br />
weeks (he met at IIABNY’s DeWitt office with the IIAA of Central NY on April 10) and clearly<br />
believes in a free market approach whenever possible. In his words, consumers need choices<br />
in the marketplace and while the protection of consumer rights is important, he does not<br />
believe in creating an environment that neglects the business environment.
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