Albany Alert

Albany Alert: DFS Pre-Proposed Regulation on Hurricane Deductible 03.31.25 The Department of Financial Services (DFS) is alerting regulated entities and individuals to use caution before responding to outreach from individuals falsely claiming to represent DFS. DFS recently became aware of phishing emails purporting to come from DFS personnel urging regulated entities to open files, make…

Albany Alert: Governor Hochul Actions on Legislation 12.20.25 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…

Albany Alert: Superintendent Adrienne Harris to Depart DFS 09.30.25 Governor Kathy Hochul has announced that, after four years of service, Superintendent Harris will be leaving the Department of Financial Services. The Governor is appointing Kaitlin Asrow as Acting Superintendent of the Department of Financial Services effective October 18, 2025. Kaitlin Asrow has worked at DFS…

Call to Action – We Urge You to Weigh In Help STOP Harmful New York Legislation that Could Increase Lawsuits and Insurance Costs New York lawmakers are considering legislation—the deceptively titled Fostering Affordability and Integrity through Reasonable (FAIR) Business Practices Act, A8427 (Lasher)—that could lead to an explosion of litigation against businesses in the state…

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…