Monthly Archives: August 2024

Advocating for Our Insurance Community: Addressing Market Challenges in New York

​Big I New York met this morning with leaders from the New York State Department of Financial Services (DFS) about the pressing issues in our state's personal lines insurance markets. This meeting came at a pivotal time.  The wind-down of Adirondack Insurance Exchange's and Mountain Valley Indemnity Co.'s operations ​is having disruptive effects on local consumers and businesses. Big I New York President and CEO Lisa Lounsbury and Assistant Vice-President of Research and Information Tim Dodge represented our members. Three DFS representatives took part in the video meeting. During the conversation, we explained that independent agents and brokers are facing major hurdles in replacing policies…

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Three Reasons Why You Should Use Declination Forms

​A coverage declination form is a document that agencies should use as part of their workflow process for situations when a client declines coverage. The client signs the form to acknowledge that they reviewed the coverage with their agent and that they are declining to purchase coverage.While it may seem like just another piece of paperwork, the truth is that a coverage declination form can play a crucial role in protecting an insurance agency. Here are three reasons why your agency should use declination forms and make them part of your procedure manual:1.    Legal ProtectionWhen a client refuses a certain type of coverage, having a…

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Big I NY Leadership Academy: Q&A with Jim Lombardo

Q: Can you tell me what The Leadership Academy is in 25 words or less?A: Well, I don't think I can do it in less than 25 words but here goes… It is a program that is sorely needed where the future of our agencies can learn from professionals those skills which will help them develop into the people who will guide your agency, the independent insurance agency system and the industry as a whole over the next generation. How many words was that?Q: What skills are you talking about?A: Communication, Goal Management, Motivation, Team Building, Powerful Presentations and The Power of Caring among othersQ:…

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