What are these people thinking? Shared loss data is essential, otherwise no one would know how to price an exposure their company had never written in the past, thus limiting new entrants and competition. Maybe they\’ll just let NCCI into the state since they already have the infrastructure — otherwise, they\’ll end up doing the most inefficient thing possible — trying to recreate the wheel.
… the insurance companies that will be charging the premiums. We will raise benefits and lower premiums without the input from the insurance companies?
Maybe NCCI should take over. However if anyone thinks that there will be a competitive market with rates being reduced and benefits being increased probably thinks that Kodak and Carrier will be back, not likely !
How about our IIABNY and PIA advocating for their member agents and brokers to get the State Fund to pay us a commission for the work we handle? As far as I\’m concerned there is no reform if it doesn\’t compensate us professionals. What I see will further limit availability of comp in NYS and drive more business to the SIF.
I agree we need efficiency and reform in the rating end. The workers will have to see, in the long run this is best for them too.
It is a step in the right direction and I am glad it is being addressed. Thanks to all the IIABNY L-Day people who have been putting this in the forefront the last few years.
enough Lies… we pay more get less, please be honest, where is the money going?
empty promises. we pay 40k on an 80k payroll…. with 0 accidents… obviously somethings ‘wrong in NYS’ as soon as the rest of NY residents can afford to leave we will.
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What are these people thinking? Shared loss data is essential, otherwise no one would know how to price an exposure their company had never written in the past, thus limiting new entrants and competition. Maybe they\’ll just let NCCI into the state since they already have the infrastructure — otherwise, they\’ll end up doing the most inefficient thing possible — trying to recreate the wheel.
… the insurance companies that will be charging the premiums. We will raise benefits and lower premiums without the input from the insurance companies?
Lets see, Spitzer is going to raise benefits and at the same time reduce premiums to employers. He is a genious. I hope he runs for President.
Maybe NCCI should take over. However if anyone thinks that there will be a competitive market with rates being reduced and benefits being increased probably thinks that Kodak and Carrier will be back, not likely !
How about our IIABNY and PIA advocating for their member agents and brokers to get the State Fund to pay us a commission for the work we handle? As far as I\’m concerned there is no reform if it doesn\’t compensate us professionals. What I see will further limit availability of comp in NYS and drive more business to the SIF.
They are so going to take in the pooper with this one.
I agree we need efficiency and reform in the rating end. The workers will have to see, in the long run this is best for them too.
It is a step in the right direction and I am glad it is being addressed. Thanks to all the IIABNY L-Day people who have been putting this in the forefront the last few years.
When will the legislature be voting on this
enough Lies… we pay more get less, please be honest, where is the money going?
empty promises. we pay 40k on an 80k payroll…. with 0 accidents… obviously somethings ‘wrong in NYS’ as soon as the rest of NY residents can afford to leave we will.