The State of New York approved an 11.4% loss cost rate decrease to the rate for Code 5190 Electrical Wiring. Effective with policies renewing on or after October 1, 2024, the loss cost for code 5190 will be reduced from 4.39 to 3.89. The loss cost rate, multiplied by a carrier loss cost multiplier yields the […]
The Scholarship Committee is pleased to announce the 2024 NYSEC College Scholarship is awarded to Samantha Farsky of member firm Off Shore Electric Corp., New York, NY. The award is $1,000 per year payable over a four-year period. Samantha is pursuing a degree in Sports Journalism at Arizona State University, where she is setting her sights on becoming a sports broadcaster. We […]
Several important bills to the industry were tracked during the 2024 NYS Legislative session. View a recap and current status HERE
The NYSEC Annual Membership Meeting will be held August 1, 2024, 2:00PM at Keens Steakhouse, 72 West 36TH St. New York, NY. Please RSVP your attendance with the registration form here by July 20, 2024. Order of Business: Approval of Minutes of the 2023 Membership Meeting Report of Officers Report of Nominating Committee Election of Officers and Directors […]
Since 1992 the State Association has been awarding an annual scholarship to help advance the educational pursuits of college bound students. The scholarship award is $1,000 per year for a maximum award of $4,000. The scholarship application may be downloaded HERE. Note that the deadline for filing the application is JUNE 21, 2024. Please circulate […]
The State of New York approved a 0.0% loss cost rate change in the rate for Code 5190 Electrical Wiring. Effective with policies renewing on or after October 1, 2023, the loss cost for code 5190 will remain at 4.39. The loss cost rate, multiplied by a carrier loss cost multiplier yields the total rate charged by the […]
On May 3, 2023 the 2023-2024 NYS Executive Budget was enacted… Download Legislative Update HERE
The State Association is making progress toward an Association Health Plan designed specifically for our NYSEC membership. Our endorsed broker partner Gallagher Risk Services/ Cool Insuring has compiled preliminary employer data and is in the process of approaching carriers for underwriting and pricing. The program will be available to cover the non-collectively bargained employees, office […]
The Winter Meeting is back! The State Association will be hosting the 2023 Winter Meeting at the Hyatt Zilara Rose Hall All-Inclusive Resort, Montego Bay, Jamaica. Dates are Saturday January 28 – February 1, 2023. Please download Meeting and Registration form HERE. Plan to relax and network with your fellow industry counterparts in sunny Jamaica!
The State of New York approved a decrease in the rate for Code 5190 Electrical Wiring. Effective with policies renewing on or after October 1, 2022, the loss cost for code 5190 will decrease 9.1% from 4.83 to 4.39. The loss cost rate, multiplied by a carrier loss cost multiplier yields the total rate charged […]