Monthly Archives: July 2020

Moratorium, Premium Payment Flexibility Emergency Regulation Expires

As of 12:01am on Tuesday, July 7th, emergency restrictions on insurance carriers' and premium finance agencies' ability to terminate coverage and requirements for premium flexibility are no longer in effect. The emergency regulation, first adopted on March 30th, and subsequently re-adopted with changes on June 29th, expired on July 6th, per Executive Order 202.48. Relief granted to policyholders prior to July 6th remains in effect. For example, an insured who demonstrated hardship for a June 1 premium payment is still entitled to a 60-day deferral (until July 31), and the option to repay that premium in 12 monthly installments. Contact Scott Hobson with questions. More…

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NYS DFS Delays Producer License Expirations Through Aug. 7

​The New York State Department of Financial Services today announced that it was again extending the expiration of individual insurance agent and broker licenses. These licenses will now expire on August 7. The move grants producers an additional 30 days to renew their licenses. The requirement that a monitor be present to complete producer continuing education and pre-licensing course exams online also remains suspended.Be aware that this extention applies to individual licenses only. It does not apply to licenses issued to business entities.On March 25, the department announced that it was suspending the expiration of producers' licenses for 60 days, through May 24, due to…

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On Our Mind…Thinking Intelligently

​By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & Development  Someone called me an intelligent thinker the other day. I had to look that up to see what it meant.  LOL!  Here is what I found at neuronation.com (and what I normally try to do). 1.   Learn from your mistakesEverything we do is a matter of trial and error. A baby cannot learn to walk without falling down first, and we cannot do better at work if we don't know what to improve. 2.   Re-evaluate your viewsThe greatest minds of all time have re-evaluated their initial theories. When we think of intelligent, famous people, scientists usually come…

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