Posts by Kaitlyn Flynn

Albany Alert: Governor Hochul Announces Budget Agreement 04.29.25 Governor Hochul has announced that she has reached a budget agreement with the legislature. The 2025–2026 fiscal year budget will total $254 billion, which is $2 billion more than the executive budget proposal. The governor did not discuss any specific items that would impact the property and…

Albany Alert: DFS Pre-Proposed Regulation on Hurricane Deductible The Department of Financial Services (DFS) issued a pre-proposed regulation on standards for hurricane windstorm deductibles, as required by A2866 (Pheffer Amato)/S4199 (Sanders) signed Chapter 460 of the Laws of 2024. In NYIA’s initial review, the pre-proposed regulation does not specify the category of hurricane that would…

Albany Alert: Governor Hochul Actions on Legislation Late last night the Governor acted on several pieces of legislation that are relevant to the property casualty industry. Most notably, the majority of these bills would expand litigation. NYIA will be releasing more information on the bills signed over the coming days but wanted to provide a…