Advocacy; Industry News

Abstract: A new auto insurance online verification system is coming to New York in three years, thanks to a bill approved yesterday. Body: ​A new auto insurance online verification system is coming to New York in three years, thanks to a bill approved yesterday. New York Gov. Kathy Hochul signed into law Senate Bill 5331-A, establishing the modernized system. Senate Insurance Committee Chair Jamaal T. Bailey (D – Bronx, Westchester) and Assembly Insurance Committee Chair David I. Weprin (D - Queens) sponsored the measure. This much-needed reform replaces the 25-year-old Insurance Information and Enforcement System (IIES). For decades, IIES has frustrated drivers, agents, and insurers…

Abstract: Broker compensation, withdrawal notices, and payroll reporting were on the agenda when Big I New York joined in a New York State Insurance Fund (NYSIF) meeting with insurance producers. Body: ​​NYSIF logo used under a ​Creative Commons Attribution-Share Alike 4.0 International license​.​​Broker compensation, withdrawal notices, and payroll reporting were on the agenda when Big I New York joined in a New York State Insurance Fund (NYSIF) meeting with insurance producers.NYSIF held the November 5 meeting virtually with its producer advisory council. Attending on behalf of Big I New York were:President and CEO Lisa Lounsbury.Assistant Vice-President of Government Relations Travis Wattie.Doug Benz of New Buffalo Insurance…

Body: Big I New York has joined a diverse coalition of business and industry groups in calling on State Lawmakers to oppose the “Fostering Affordability and Integrity through Reasonable (FAIR) Business Practices Act."  The so-called FAIR Act would upend existing consumer protection law by dramatically expanding the instances in which lawsuits can be filed for “unfair" and “deceptive" acts and practices. The bill has the support of State Attorney General Letitia James who just last week was joined by bill sponsors State Senator Leroy Comrie and Assemblymember Micah Lasher at a rally to push the bill over the finish line before lawmakers leave Albany on June…