Adirondack Insurance Exchange: Your Questions Answered

​As we previously reported, on May 28 the financial strength rating of Adirondack Insurance Exchange (AIE) on the website of insurance carrier financial ratings agency Demotech was withdrawn. AIE, a subsidiary of Allstate Insurance Group headquartered in Western New York, posted the news on its website, as did Demotech. AIE sent an email on May 28 to its agents about the action; Demotech has not publicly commented.Over the last several days, many Big I New York members have contacted us with questions and concerns about this development. We will attempt to answer them here, but our information is limited. The best sources of information, should…

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The Value of Advocacy: Legislative Session Adjourns with Significant Wins for IAs

The Value of Advocacy: Legislative Session Adjourns with Significant Wins for IAsThe New York State Senate and Assembly adjourned for the year on Saturday after a flurry of last-minute activity. Throughout the session, Big I NY's government relations team engaged on dozens of bills, and when the dust settled, the value of our efforts was clear.Both houses of the legislature passed Big I NY-backed changes to supplemental spousal liability insurance, exempting unmarried drivers and commercial coverage from automatic enrollment. These common-sense changes will end the frustration experienced by many customers when the automatic enrollment law went into effect last year. Governor Hochul is expected to…

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Agents In Action: Big I NY Members Meet with Key Lawmakers In-District

​Throughout the month of May, approximately 40 independent agents from across the state met with state lawmakers in their districts to call for the passage of pro-consumer legislation to help customers and agencies weather the challenging market. Agents met with 17 lawmakers who were identified as key votes on our bills.In the meetings, agents advocated in support of several important pieces of legislation,​ including bills to eliminate the diligent effort requirement for commercial excess lines coverage, eliminate the NYC anti-arson application, impose stricter penalties for staged construction accidents and staged auto accidents, and combine agent and broker licenses into a single “producer" license. They also…

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