Yesterday, the Big I MN, represented by Bill Butler (Butler and Associates) and Roberta Gibbons (Dyste Williams) testified before the MN House Commerce Finance and Policy Committee on the impact of climate change on the property and casualty insurance market. Other testifiers included: Dr Heidi Roop from the University of MN’s Climate Adaptation Partnership; DOC Deputy Commissioner, Julia Drier; and Aaron Cocking, President and CEO of the Insurance Federation of MN. A testifier from the Reinsurance Association of America was unable to testify due to technical difficulties.
Bill and Roberta did an amazing job representing Big I MN and focusing the Committee’s attention on consumers. Roberta spoke about how the hard market is impacting consumers and the independent agent’s role in helping consumers weather the storm. Bill shared with the Committee how storm chasers are exacerbating the problem, and Big I MN’s proposal for curbing the rebating and referral practices that are contributing to claim costs.
The end of the hearing features a bill to add tree trimmers and restoration companies to the contractor price gouging law that we worked to pass last year. The bill is first of several bills that will be aimed at reducing the cost of storm related claims in MN.
Thanks to Bill and Roberta for stepping up to represent the independent agent industry and to House Commerce Chair Zack Stephenson for highlighting this critical issue.
You can watch the entire hearing below or you can just watch Roberta and Bill at the 1:29 mark.