The Council of Insurance Agents & Brokers formally opposed New York's proposed legislation to ban non-compete agreements, arguing that such agreements are essential for commercial brokerage firms to protect client relationships and trade secrets. The Council submitted comments explaining the unique dynamics of the commercial insurance brokerage sector, where broker-client relationships represent significant business value. The opposition was part of a broader industry coalition pushing back on the sweeping proposal.
The Council recently sent a letter from its leadership to New York Governor Kathy Hochul opposing S3100A, which was passed by the NY State Senate earlier this month and would broadly ban all non-compete agreements in the State going forward. There is currently no expected timeline for the Governor to review the Bill, and we continue to monitor for her response.
Read the letter. For more information on S3100A, visit the Yellow Alert issued by The Council on June 23.
