Monthly Archives: August 2024

IIABA Committee Appointments

​Big I NY is proud to announce the Big I NY members that have been appointed to serve on key IIABA committees in the upcoming 2024-2025 term.Steve Zogby of Scalzo, Zogby & Whittig in Utica will be Chair of the Professional Liability Committee and Ron Brunell, CIC of Acrisure in Garden City will serve as a member of that committee.Ted Walsh, CPCU, CIC of Walsh Duffield Companies in Buffalo will serve as a member of the Large Agents & Brokers Council.Ashley Engl of Jencap in Buffalo will serve on the Young Agents Committee.The following Big I NY staff will also serve on IIABA committees:Kathy Glahn –…

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Adirondack, Mountain Valley Withdrawal From the Market: Your Questions Answered

Adirondack Insurance Exchange (AIE) and Mountain Valley Indemnity Co. (Mountain Valley) will withdraw from the New York personal insurance markets by the end of this year under a plan approved by state insurance regulators. The plan will permit an orderly wind down of the carriers' operations. Under the plan's terms, the two carriers will begin non-renewing homeowners, watercraft, umbrella liability, identity theft, and auto insurance policies as they expire. Any policies that are up for renewal in 2025 will be cancelled effective December 31, 2024. While it is believed that the carriers have sufficient reserves to pay their policyholders' claims, an Allstate company has agreed…

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Big I NY, DFS Meet a Second Time About Personal Lines Market

​At the request of the New York State Department of Financial Services (DFS,) Big I New York met by video with DFS representatives this morning to discuss the ongoing problems with the state's personal insurance market. Big I New York Chair of the Board David Bodenstein, President and CEO Lisa Lounsbury, and AVP of Research and Information Tim Dodge met with the DFS representatives for a little more than a half hour.DFS asked for the meeting to continue discussions that began on July 25. The meeting was productive. Further conversations between Big I New York and DFS on how they can work together to improve…

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