Search
 

NYIA opposes tax proposal

The New York Insurance Association (NYIA) opposes a proposal requiring New York-based insurers to more than double their funding of non-insurance related state governmental services. The official budget is set for release December 16, but the

By Staff Writer | Updated on December 10, 2008

The New York Insurance Association (NYIA) opposes a proposal requiring New York-based insurers to more than double their funding of non-insurance related state governmental services. The official budget is set for release December 16, but the preliminary deficit reduction package recently proposed by the governor includes an increase of $140 million on New York domestic insurers.

Currently, domestic insurers contribute more than $340 million in assessments to fund the expenses of the insurance department. That total already includes $111 million in sub-allocations. The proposal would increase the amount to fund non-insurance department programs by $140 million for a total of $251 million in sub-allocations.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2025 ALM Global, LLC. All Rights Reserved.