Advocacy; Industry News

​Guidance to help agents and brokers comply with a new federal law requiring disclosure of health insurance compensation is now available from the Big "I" and the federal government. The requirement took effect late last month.Section 202 of the December 2020 omnibus government funding legislation signed into law by former President Donald Trump included new compensation disclosure requirements for health insurance agents and brokers. The requirements took effect on Dec. 27, 2021.After the requirements took effect last week, the Department of Labor (DOL) released Field Assistance Bulletin No. 2021-03, which provides further guidance and announces the DOL's temporary enforcement policy for group health plan service…

​An endorsement to the Insurance Services Office (ISO) Homeowners insurance program, which Big I New York initially proposed, has been approved by the New York State Department of Financial Services (NYSDFS). The form gives homeowners coverage for damage to underground utility service lines. It will allow you to offer better protection against very expensive losses to your Homeowners clients.Since 2012, Big I New York has been a member of the Mid-America Insurance Conference,  a forum where independent agents, trade association staff, and representatives of industry standards-setting organizations discuss topics such as property-casualty coverage, rules, forms, and other technical aspects within the industry. ISO, the National Council on…