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V.F. McNeil Insurance Deepens Engagement with Big I CT to Address Insurance Market Challenges

By May 13, 2024May 14th, 2024No Comments
V.F. McNeil Insurance Deepens Engagement with Big I CT to Address Insurance Market Challenges - Legislative Team

Pictured in photo from left to right: Lisa Lounsbury, (President, Big I CT), Jay Long (Big I CT Board Member), Representative Kerry Wood (D, Rocky Hill), Jason Guererra (Big I CT Board Member), Dan McNamara (Big I CT Board Member), Scott Hobson (AVP of Government Relations, Big I CT)

Branford, Connecticut –May 13, 2024 – V.F. McNeil Insurance strengthened its role in Big I CT, the premier association for Connecticut independent insurance agencies and their customers.

V.F. McNeil’s president and owner, Daniel McNamara now sits on the Big I CT Board of Directors and recently joined with other leaders of Big I CT to meet with Representative Kerry Wood (D, Rocky Hill) at the State Capitol.  Representative Wood is co-chair of the state legislature’s Insurance and Real Estate Committee and holds substantial influence over insurance-related legislation.

Key topics ranged from easing paperwork burdens on excess lines transactions, protecting the use of non-competes, preserving underwriting flexibility, and reducing costly lawsuit abuse, (which has a huge impact on premiums for the consumer). Big I CT board members provided an on-the-ground report of the market conditions, which are the worst they have been in many decades.

The Big I Connecticut reported that Representative Wood was gracious with her time and expressed her support over issues discussed.  Representative Wood also reported hearing many concerns over the cost and availability of insurance from her constituents, and specifically mentioned the challenges faced by nonprofit healthcare providers. She committed to continuing her work with Big I Connecticut and industry stakeholders to ensure a fair and healthy insurance market.

In addition, the Big I Connecticut leadership team recently traveled to Washington D.C. to present key legislative issues.  They met with representatives from the offices of Connecticut state officials and presented on issues such as the opposition of tax increases for Main Street America, the need to protect the Federal Crop Insurance Program (FCIP), and the need to extend and reform the National Flood Insurance Program.

Also diving deep into the insurance market crisis, the delegates further explained the unprecedented property insurance crisis and shared that appropriate and suitable property and casualty insurance is simply unaffordable for millions of Americans, and that it is altogether unavailable for a growing universe of families, businesses, and individual consumers.  The team made recommendations on how Congress can take action to help alleviate pressure on the insurance market.

“The challenges faced in the insurance landscape are the most rapidly evolving that I’ve ever seen in my career.  We fully intend to be an instrument for change to benefit the consumer and the agent,“ commented McNamara.

With McNamara’s increased involvement in the Big I Connecticut, V.F. McNeil Insurance has solidified its position as a leader in the independent insurance agency channel.  This underscores the local insurance agency’s dedication to delivering unparalleled insurance solutions to its valued customers.

“I’m honored to have the ability to be a voice for our customers and for my staff and I welcome questions that anyone may have about these topics” stated McNamara.

V.F. McNeil Insurance invites insurance consumers with questions to inquire for more information.  Please visit www.vfmcneil.com and submit an inquiry by email or through the Contact Us form on the agency’s website.

About V.F. McNeil Insurance:

Since 1886, V.F. McNeil Insurance has been a customer-focused independent insurance agency dedicated to treating others how they would expect to be treated. Serving the property and casualty insurance needs of Connecticut business owners and residents, the twelve-person team strives to be known as a top choice for insurance in Connecticut.

You may also find Understanding Rising Insurance Premiums: Key Factors Behind Increased Costs and Reduced Coverage or A ‘Hard Market,’ What it Means for Your Insurance to be helpful.

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