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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.

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