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DFS Stepping Up Enforcement of New Auto Business Notification Requirement:

​Recently, the NYS Department of Financial Services informed representatives of the insurance industry that the Department will significantly step up enforcement of the requirement that carriers notify DMV of new auto insurance business (NBS) within seven days of the issuance of the policy. The DFS’s position can best be characterized as “zero tolerance” for late reporting. Big I NY, along with insurance carriers and their trade associations, have been regularly engaged with DMV and DFS regarding NBS compliance over the past several years. The DFS’s aggressive enforcement posture marks a significant development which will have impacts across New York’s auto insurance space.   At this stage,…

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Read more about the article Legislation Matters

Legislation Matters

Legislation Matters Evan Portnoy, Big I TriCounty’s Legislative Chair and I met with Senator Todd Kaminsky’s Chief of Staff, Aaron Miller, on Monday October 28, to discuss issues crucial to our members.  As independent agents, legislative actions are vitally important to our businesses and to our insureds. Not only has local legislation been a focus of Big I TriCounty, but Big I New York has made it one of its three strategic goals and is asking for a large grassroots effort.   TriCounty will set up several meetings with our local leaders this term to discuss the issues highlighted in Big I’s Legislative Position Paper…

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On Mary’s Mind – Until We Meet Again

​By Mary Byrnes​, AAI-M, AU​, Education Department On the eve of my last day with Big I New York rapidly approaching on November 7th, it seemed like the perfect opportunity to leave you with one last challenge. Thinking back on a few decades in insurance, it has come to mind how truly blessed I have been to have been mentored by some wonderful people.  Perhaps you might have known them. Bill Caryl of Caryl & Murray (RIP)-This was my first agency position.  Whether it was asking to take the brokers licensing course, take the AAI course series, try my hand at sales, or whatever, Bill was not…

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