Monthly Archives: March 2021

​Today, members of the New York legislature reintroduced the New York Health Act and called for its passage as early as this spring. The Realities of Single Payer Coalition, of which Big I NY is a member, pushed back strongly on the proposal to create a single payer health care system in NY. "The New York Health Act would destroy the existing insurance market and hurt consumers by removing their ability to choose the best healthcare for their needs. Independent insurance agents and brokers are committed to helping New Yorkers protect what matters most. We believe consumers are best served by a competitive market rather than…

On Wednesday, March 10th, counsel for Big I NY will present oral arguments in our ongoing legal challenge to the first amendment to Insurance Regulation 187​. The regulation, which imposes a vague and burdensome “best interest" standard for the sale of life insurance and annuities, fundamentally alters the duty of an insurance producer to the customer and threatens to harm consumers by reducing the availability of affordable coverage. The oral arguments are the final step before a ruling on our appeal.In 2018, Big I NY sued the Department of Financial Services, over the amended regulation alleging that: the DFS overstepped its authority; violated the State Administrative…