/ /

A Special “Thank You”

Guest Author

By Lisa K. Lounsbury

When you look at the major wins and critical stops of the New York State Legislature’s 2015 session, it is critical that you know the story behind these successes. The volunteer leaders of IIABNY (the Independent Insurance Agents & Brokers of New York), our local association leaders, and our countless engaged members deserve the thanks of every New York insurance professional for their vital role. Thank you to all of you who attended local legislative events to learn about the issues, met with lawmakers in your districts, sent letters and emails, made phone calls and relentlessly worked to raise legislators’ awareness of our issues. Your strong support was invaluable.

We at IIABNY feel privileged to work collaboratively alongside our devoted volunteer members, who give of their time and talent so generously to serve their industry and their insureds.

The highlight of the session was enactment of a law regulating certificates of insurance designed to stop unaccountable third parties from coercing insurance producers into issuing inaccurate certificates. IIABNY has worked with the legislature and the governor for years to get this law enacted. We are pleased to note that it takes effect July 28th.

IIABNY also successfully fought off a bill, supported by trial lawyers’ groups, which would have broadly increased insurance premiums by enabling individuals who believe their insurers have used unfair claims settlement practices to sue the insurers. The New York State Department of Financial Services has the power already to punish insurers who commit these practices. This bill would have encouraged frivolous lawsuits against insurers whenever a claimant felt wronged. It is dead for this session and hopefully for good. How did this get accomplished? In the closing weeks of the session, many IIABNY members “blitzed” their local legislators and convinced them to oppose the bill. As a result, the bill never came up for a vote. No lobbyist, no staff, no TV ads have the same effect of constituent communications on a consumer issue such as this.

On the federal level, the Independent Insurance Agents & Brokers of America (IIABA) and hundreds of members from across the country (including many New York agents and brokers) also scored major wins for the industry. Working with our national office in Washington, IIABA members “lobbied” Congress to realize the extension of TRIA, the Terrorism Risk Insurance Program. They also created a new facility that will make it easier for insurance producers to obtain licenses in multiple states. Both measures were high priorities of the IIABA.

As New York’s original and longestrunning insurance producer trade organization, we continue to be member driven and member centered, capitalizing in the legislature upon the hard work of our volunteer agents and brokers.

For these legislative victories, they deserve our recognition. Cheers to them and all of you!

 

Lisa K. Lounsbury, CAE, AAI, senior vice-president of the Independent Insurance Agents & Brokers of New York, also serves as president of IIABNY’s membership services division IAAC, Inc. She is responsible for all for-profit activities; member recruitment; the overall marketing direction of the association; and the day-to-day oversight of the association’s operations. In addition, she was recently elected to the board of directors of the Big I Reinsurance Co., based in Alexandria, Virginia and the IIAA Agency Administrative Services, Inc. Board of Directors. She is an active volunteer in her community currently serving as a member of the Cazenovia Central School District Board of Education.
Lisa K. Lounsbury, CAE, AAI, senior vice-president of the Independent Insurance Agents & Brokers of New York, also serves as president of IIABNY’s membership services division IAAC, Inc. She is responsible for all for-profit activities; member recruitment; the overall marketing direction of the association; and the day-to-day oversight of the association’s operations. In addition, she was recently elected to the board of directors of the Big I Reinsurance Co., based in Alexandria, Virginia and the IIAA Agency Administrative Services, Inc. Board of Directors. She is an active volunteer in her community currently serving as a member of the Cazenovia Central School District Board of Education.