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NYSIF’s Approach with Policyholders Regarding the Coronavirus

​Big I NY President & CEO, Lisa Lounsbury spoke to Eric Madoff, CEO & Executive Director at New York State Insurance Fund, this morning regarding NYSIF’s approach to work with policyholders regarding the coronavirus.  We are very pleased to share the following correspondence that will go out to NYSIF policyholders later today.  In addition to offering premium payment flexibility, NYSIF recognizes that payrolls may decrease and is willing to adjust premium payments to meet policyholder needs.​​​ ​Dear Policyholder,Extraordinary times call for extraordinary solutions. As the coronavirus (COVID-19) takes its toll on New York businesses, NYSIF stands ready to help by lowering your premium to reflect…

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Big I NY, Other Producer Associations Call for Reg 79 Suspension, CE and License Renewal Grace Period During COVID-19 Pandemic

Today, Big I NY, along with other industry trade groups, ​ sent a letter to DFS Superintendent Linda Lacewell urging the department to take critical steps to protect policyholders. Together, we call on the DFS to protect consumers’ ability to obtain comprehensive and collision insurance by suspending the photo inspection requirement in Regulation 79. With current staffing limitations, and social distancing directives, customers are unable to travel to inspection locations. Furthermore, we call on the DFS to implement a grace period for CE and license renewal requirements for the duration of the current State of Emergency. Insurance agents and brokers face increased difficulty in obtaining the required continuing…

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Big I New York Calls On Governor Cuomo To Declare Insurance Services “Essential”

​March 19, 2020 - Today, Lisa Lounsbury, Big I New York President and CEO, asked the Empire State Development Corporation to declare that insurance agencies and brokerages do provide essential services to the public in response to an executive order mandating businesses decrease their in-office workforce by 75 percent by 8 p.m. Friday, March 20.  This follows the Governor's directive yesterday that all businesses and not-for-profit entities in the state shall implement, to the maximum extent possible, any telecommuting or work from home procedures that they can safely utilize. Any essential business or entity providing essential services or functions shall not be subject to the in-person…

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