A carrier's trade group representative said his organization is hopeful of pushing through a measure to change New York's insurance rate regulation structure to a market-based system despite tough Assembly opposition.
The proposal, circulated for comment by the Albany-based New York Insurance Association, would establish a file and use system in the state for both commercial and personal lines.
Bernard Bourdeau, president of NYIA, acknowledged that the proposal will have to overcome significant hurdles, saying that "in the past, the chairman of the Assembly insurance committee [Assemblyman Pete Grannis, D-Manhattan] has said he opposes competitive market-based pricing."
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