Editor’s Note: Ever wonder why independent insurance agents are so effective and respected in legislative circles?

While there’s nothing wrong with writing a check to a favorite candidate’s political action committee, showing up on Legislative Day is priceless.

Look ’em in the ‘I’

Look no further than the recent Legislative Day sponsored by the Independent Insurance Agents and Brokers of New York Inc. on Feb. 7 in Albany. This is the 36th year in a row that this Big “I” affiliate has created an opportunity for member agents to mingle with key legislators.

To their credit, some 200 member agents took the time out of their business to attend. They got to meet with the state’s two highest-ranking lawmakers, Sen. Joseph L. Bruno (R-Rensselaer), Senate majority leader, and Assemblyman Sheldon Silver (D-Manhattan), speaker of the Assembly, as well as key insurance committee players.

They got to discuss workers’ compensation reform, auto insurance fraud and market availability with politicians who can have a real effect on the industry.

Sen. James L. Seward (R-Oneonta), chairman, Senate Insurance Committee, spoke about New York being “a low benefits state when compared to other states, but also a high cost state” for workers’ compensation. “If we’re going to look at an increase in a benefit level, we’ve got to look at bringing down the cost of the program,” he told agents. He then pledged his support for a 500 week, or nearly 10-year cap on permanent partial disability. Currently, workers suffering a permanent partial disability may collect benefits indefinitely.

Seward expressed concern about market availability in the metropolitan New York coastal areas, including Allstate’s recent decision to stop writing new homeowners’ policies in Westchester County, New York City and Long Island. Seward discussed some proposed solutions including making the New York Property Insurance Underwriting Association permanent rather than a subject of annual debate, something agents have urged for years. Recognizing that some have called for a statewide catastrophe fund covering both natural and man-made disasters, Seward expressed his own doubts. “Do we really want the government in the business of insurance? I want the government involved only if there’s a total market failure. And does a statewide cat fund make any sense in a diverse state such as New York? Right now, I’m unconvinced that it does make any sense.”

The New York Big “I” legislative days are not unique. Agents groups across the country hold them regularly in state capitals and in Washington, D.C.

For agents who care about their business and about their government, they represent a rare opportunity to educate their elected representatives about what’s important. Even better, they get to have their elected leaders look them in the eye and explain their positions.

While there’s nothing wrong with writing a check to a favorite candidate’s political action committee, showing up on Legislative Day is priceless.