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Abstract: The Corporate Transparency Act's exemption from the beneficial ownership information reporting requirement applies to insurance producers of all sizes without regard to the number of employees. Body: ​ Question from a Big I NY member: Was the exemption for licensed insurance producers under the Corporate Transparency Act limited to those agencies with less than twenty employees? There was a Big I article that referenced this exemption threshold, but I could not find this threshold cited elsewhere. We have twenty-two employees so I am trying to determine if we should file a Beneficial Ownership Information report. Thanks.  Answer: The exemption applies to insurance producers of…

Body: ​Insurance industry standards setting organization ACORD ​has announced it has revised a form used with New York personal auto insurance applications. Form ACORD 65 NY (2025/03), New York Auto Supplement – Spousal Liability Insurance Declination Form, is for use on and after March 26, 2025. It replaces form ACORD 65 NY (2023/08​).The new edition is designed to reflect the guidance ​the New York State Department of Financial Services (DFS) has provided for situations where an insured wishes to reject Supplemental Spousal Liability insurance​. DFS provided this guidance in response to a change in state insurance law that Big I New York pushed for last year. This edition removes two paragraphs from…