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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NYS DFS Urges Carriers To Offer Homeowners Loss Mitigation Devices, Discounts

​The New York State Department of Financial Services is encouraging property-casualty insurance carriers to offer their homeowners insureds free or discounted loss mitigation tools and services. In a new Circular Letter, the department also encouraged carriers, rate service organizations (RSOs, such as the Insurance Services Office,) and the New York Property Insurance Underwriting Association (NYPIUA) to file premium discounts for insureds who use the devices and services.The May 23 letter, signed by Deputy Superintendent of the department's Property Bureau Bernard Ganley, noted difficulties in the current insurance market. The purpose of the Circular Letter, he wrote, was “to reduce risks and costs to ensure a…

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