Proposed Legislation Would 'Level Playing Field' With NYSIF

An insurance group said Wednesday that policyholders across the state will save on premiums if a new bill is passed to remove the 30-day cancellation notice used by the New York State Insurance Fund. NYSIF is the carrier of last resort for New York employers that can’t secure workers’ compensation policies on the private market. But it has grown to hold a 46% share of the state’s comp market. Matthew Guilbault, director of government and industry affairs for the Professional Insurance Agents of New York State, said Wednesday that state law currently locks policyholders ...