Yearly Archives: 2024

The ONE Reason You Should Support IAPAC

Contributing to the Independent Agents Political Action Committee (IAPAC) is one of the most impactful things you can do for the profession that you love. It all comes down to one thing. The most important thing. Without this, nothing else matters.Protection. Every day you help people protect what matters most to them. But what are you doing to protect the future of your agency? Your career? The business we all love so dearly?IAPAC exists to protect you. As a non-partisan political action committee, its singular purpose is to support the election of state candidates who support our profession.You know Big I NY has your back,…

Continue ReadingThe ONE Reason You Should Support IAPAC

How Insurance Producers Get Penalized By NYS DFS

​The latest insurance disciplinary action report from the New York State Department of Financial Services is out. As usual, it contains interesting information about what DFS is focusing its enforcement efforts on. Here are some raw numbers:Total number of reported disciplinary actions: 27.Total number of actions against carriers: 1 ($577,250 fine against a life insurance carrier for disclosure failures.)Total number of actions against agents and brokers: 23.Total number of actions against other licensees: 3 (an adjuster, a life settlement broker, and a title insurance agent.)Total number of actions against NY licensees: 10.Total number of actions against out-of-state licensees: 16 in 10 states.Number of licenses revoked:…

Continue ReadingHow Insurance Producers Get Penalized By NYS DFS

Big I New York Awarded Maurice Herndon Award

Wednesday, during the Big “I" Legislative Breakfast, Charles Symington, Big “I" president & CEO, presented Big I New York with the 2023 Maurice Herndon Award. The Maurice Herndon award is given every year to the state association that has done exemplary work on legislative issues and government affairs the previous year.“This year's recipient achieved new fundraising levels for both InsurPac, our federal PAC, and their state PAC," Symington said. “They've had very strong participation at the Legislative Conference and strengthened grassroots relationships with key members of their congressional delegation. And on the state level, our winners successfully defeated legislation that would've banned all noncompete agreements…

Continue ReadingBig I New York Awarded Maurice Herndon Award