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Big I NY Asks Kemper To Delay Auto Insurance Commission Cut

​ Big I New York has asked Kemper Auto & Home to delay its announced commission reductions on certain auto insurance policies. The carrier was told in a meeting this week that the suddenness of its move is unreasonable and bad for its independent agents.The carrier informed many of its New York agencies this week that it is reducing the commission rate on its Kemper PrimeSM personal auto insurance product to an extremely low level. The change will take effect on June 1, 2022. Several Big I New York members contacted our office to ask whether the carrier's action is legal. We have concluded that…

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Industry News: Insurers Raise Cyber Rates Significantly Amid Costly Losses; A New Generation of Independent Agents Calls for New Hiring Tactics; U.S. Traffic Deaths Jump 10.5% in 2021 to Highest Number Since 2005

​Is That 18-Year-Old Driving Your Commercial Truck?Driver shortages have led to trucking companies exploring options to recruit new drivers, but is lowering the age requirement the best option?Tesla Bets It Can Bring Down Insurance Costs, Make Driving SaferTesla Insurance is offering comprehensive coverage and claim management for Tesla owners in select U.S. states, with additional states coming in the future and says they can do it cheaper.New York Accuses Amazon of Discriminating Against Pregnant and Disabled WorkersThe New York State Division of Human Rights has filed a complaint against Amazon.com Inc. accusing the online retailer of discriminating against pregnant and disabled workers.Insurers Raise Cyber Rates…

Continue ReadingIndustry News: Insurers Raise Cyber Rates Significantly Amid Costly Losses; A New Generation of Independent Agents Calls for New Hiring Tactics; U.S. Traffic Deaths Jump 10.5% in 2021 to Highest Number Since 2005

Albany Update: Support Builds for Photo Inspection Reform, Grassroots Campaign Intensifies, Excess Lines Affidavit Bill Clears Legislature

Support Builds for Photo Inspection ReformThis week, Big I NY rallied twenty business and insurance associations to support our bill to make photo inspections optional, the Auto Insurance Consumer Relief Act (AICRA). The wide ranging group included statewide employer associations such as the Business Council of NYS, National Federation of Independent Business, the NY Farm Bureau, several regional chambers of commerce, and all of the state's agent associations and P&C carrier trades. Our letter was delivered to all members of the state Senate, and was covered in multiple publications including State of Politics a premiere state political report. The bill has passed the Assembly, but…

Continue ReadingAlbany Update: Support Builds for Photo Inspection Reform, Grassroots Campaign Intensifies, Excess Lines Affidavit Bill Clears Legislature