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Insurance Department Provides $48.5m To Fire Departments

FASNY received $4.7 million for the support and maintenance of the firefighter's home

The New York State Insurance Department has circulated more than $48.5 million from the foreign fire tax program, to fire districts and departments and to the Firemen’s Association of the State of New York (FASNY).

FASNY received $4.7 million for the support and maintenance of the firefighter’s home in Hudson. New York City received $11.5 million, and the remainder was distributed to fire districts and departments statewide. The money given, represents foreign fire tax proceeds collected by the Department over the past year.

The foreign fire tax program of the Insurance Law mandates that any licensed foreign or alien insurance company, that writes fire insurance in New York State, must contribute 2% of the fire premiums written on property in the State. Licensed excess line brokers, that place insurance with unlicensed insurers in New York, must contribute 3% of such fire premiums written on property located in the State.

Eric Dinallo, Superintendent, FASNY, said: The foreign fire tax program supports the bravest among us, those who put their lives on the line every time the alarm goes off in the station house.