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The New York State Department of Financial Services last weekend clarified the current moratorium on terminating and changing insurance policies. A new “frequently asked questions” (FAQ) page on the DFS website explained the rules: IF the terms of the policy permit the carrier to cancel, non-renew or conditionally renew it on a specific date; AND the policyholder can demonstrate financial hardship because of the pandemic; THEN the 60-day moratorium begins on that date. For example, suppose the insurer sent a non-renewal notice on February 1. The policy will expire April 16. The policyholder demonstrates financial hardship. The insurer must delay the non-renewal until June 15.…

​Progressive donation to provide relief to Big ‘I’ members facing pandemic challenges.​ ALEXANDRIA, VA, April 16, 2020— The Independent Insurance Agents & Brokers of America (the Big “I”) is pleased to announce that Progressive Insurance has donated $2 million dollars to establish the Trusted Choice® COVID-19 Relief Fund in response to the economic and operational challenges the coronavirus crisis has presented to independent agencies. The grant will be dispersed directly to independent agencies via a Big “I” application process to meet those agencies’ critical needs in the midst of the pandemic.  Independent agencies can apply for assistance online​. “The Big ‘I’ is so grateful for Progressive’s…