Just learned of this bill, introduced in only the NYS Assembly on Tuesday, May 20, 2025. Lots to be concerned about here, if you are a NYS property insurer or independent adjuster.
One needs to read only the first provision of § 6 of this bill to discern who’s driving this proposed bill:
(T) PUBLIC ADJUSTERS SHALL BE ABLE TO CHARGE ANY REASONABLE RATE FOR SERVICES RENDERED BY THE ADJUSTER. THE SUPERINTENDENT SHALL NOT LIMIT THE RATE A PUBLIC ADJUSTER MAY CHARGE FOR THEIR SERVICES.
I’ll have a detailed assessment of this proposed bills after I’ve had a chance to study it.
Meanwhile, have a nice (and hopefully warmer) Memorial Day on Monday, folks.
