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NY State Insurance Fund Goes Paperless for Disability Policies

​The New York State Insurance Fund has notified Big I New York that it will soon stop mailing paper copies of New York State Disability Benefits Law (DBL) insurance policies and bills to insurance brokers. The change takes effect on Feb. 28, 2021. In a letter to be sent to brokers this week, the State Fund invites all brokers to create online accounts on its website. The accounts give brokers constant access to their clients' records. The letter provides instructions for brokers who do not already have online accounts with the State Fund.If you have obtained DBL policies for your clients from the State Fund, be…

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On Our Mind…Embracing Change

​By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & DevelopmentAs I write this, I have the Presidential Inauguration Ceremony streaming in the background. Politics aside, it is a tremendous event and shows the world that America can accept and embrace change. I don't want to belittle it by comparing it to our lives in the insurance industry but there are a few obvious similarities:As agents we must ALWAYS be prepared for change and have tools and resources to assist us.As agents we must ALWAYS honor the rules and traditions but at the same time try to find better ways to do thingsAs agents we…

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Governor’s Proposed Budget Includes Multiple Issues Affecting IAs

This week, Governor Cuomo released his proposed state budget. This is the first step in the state's budget process. Next, the Senate and Assembly will release their own budget proposals ("one-houses"), then the three budget proposals are negotiated into a final budget, which must be passed by April 1st.The governor's proposal includes several key provisions of interest to independent agents:No-Fault Reform The Superintendent of Financial Services would be granted greater authority to prohibit a provider of health services from demanding or requesting payment for health services rendered under the no-fault insurance law. The bill also establishes the Motor Vehicle Insurance Task Force, which will examine alternatives…

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