PIWA accomplishments

Since its formation, PIWA has been an outspoken advocate for the wholesale insurance broker. Among its many notable accomplishments, PIWA:

• Initiated and supported legislation resulting in the creation of Excess Lines Association of New York, now a critical element of the state's nonadmitted market;

• Successfully lobbied to restructure Regulation 41, and worked with the state to streamline the affidavit procedure, reducing the number of affidavits and forms used;

• Worked with the state to establish the Export List;

• Lobbied successfully for legislation allowing security guards who purchase insurance as part of their licensing requirement to use nonadmitted carriers;

• Successfully worked with the New York State Insurance Department to seek the expiration of an emergency regulation addressing fully earned commissions;

• Successfully lobbied for legislation requiring retail agents to notify premium finance companies when a wholesale insurance broker was involved in writing a financed policy;

• Worked with the Department of Environmental Conservation to allow the use of excess line brokers for liability insurance for pesticide applicators, and successfully sought a change to allow binding authority for excess line brokers in New York;

• Worked with ELANY to support a new law that allows the sale of excess disability insurance in New York state, available on both an admitted and non-admitted basis; and

• Currently is working to ensure that wholesalers are excluded from any state-mandated compensation disclosure requirements.