I keep hearing Marvin Gaye signing in my ears, “Brother, Brother”…… “What’s Going On”. The 60’s were tumultuous times and one of the members of the Four Tops wrote this song for Marvin when the riots in Detroit, Newark and other cities seemingly threatened to burn our entire country down to ashes.

So” What’s Going On” now!!! Just days after a top state court ruled it was legal for insurance carriers to pay contingent commissions, the New York Insurance Department and our Attorney General said they will hold joint public hearings on the compensation arrangements for insurance agents and brokers. Those who sell insurance deserve to be fairly compensated and those who buy insurance deserve to be fairly treated," said New York Insurance Superintendent Eric Dinallo. "These hearings will help us understand how best to ensure the marketplace is competitive, and transparent?? How many times are we going to visit this topic because of a few rotten apples in out of a millions of employees in the insurance industry?

So “What’s going On”? I don’t get it. If executives in corporate America can pull down enormous bonuses for their performance what’s the problem with insurance agencies sharing in their excellent performance with the carrier?? When our insurance commissioner says he needs to understand that the market place is competitive, what does that mean?? Are we not in as competitive marketplace as anyone has seen in a long time? And what does transparent mean?? What about the unconsciable profits that the oil companies have been making for years, and the performance and perks paid to management in that industry. We are one of the most heavily regulated industries in the country. I can only think that the investment industry has as much regulation as us. So, what’s going on and what can we do about it??

Here’s the real deal. Once again, it comes back to us. Us, is the guy or lady who looks back at you in the mirror every day. Your association and other industry associations will take up the standard and represent our interests. Just in this past month, we’ve seen legislation passed that was beneficial to the public, to our industry and to us independent agents.

Late Notice - Just in the past month we’ve sent passage of a Late Notice bill. This legislation limits insurers’ ability to deny coverage based on late notice. Before the passage of this legislation an insurance company could deny coverage on any claim that was reported late, even if the late report did not prejudice the carriers’ ability to “investigate, defend, or negotiate a settlement of the claim”. The new legislation is much broader and really does help agent, brokers and the insureds.

Flex-Rating Legislation -- Allows insurers to vary their rates up or down by five percent without prior approval from the state's insurance department. Although the insurance superintendent can still reject rates he feels are unjustified. Flex rating will take effect Jan 1, 2009.

New York Property Insurance Underwriting Association (NYPIUA) the so-called FAIR Plan for homeowners insurance – one of the providers of last resort for coastal property in New York was made permanent. NYPIUA has operated on three-year cycles for many years.

None of this happens without the commitment of those dedicated members of IIABNY and the voices of those willing to make our positions known to the politician and those with clout. There are many more important issues on the horizon that have to be addressed and I urge you to give of your time and energy. We need you. If that is not possible, then dig a bit into your pockets and support our political action committee InsurPAC. That’s the only way. Get involved so that everyone of us has a say in “what’s going on”.