Financial Services

New York needs to support and encourage its largest economic sector (by share of gross state product and total payroll) in the face of the ever-growing global competition. It’s imperative that we:

• Modernize the regulation of commercial insurance markets in New YorkState, including allowing qualified insurers to write insurance without filing policy forms and rates; establishing special license privileges; and defining and setting standards for a “large commercial insured”
  
  
• Reject proposals subjecting publicly traded companies to the provisions of New York’s broad Martin Act
  
  
• Oppose new state-imposed mandates until federal financial services reforms are fully implemented and assessed