Advocacy; Industry News

​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…

​The New York State Department of Financial Services has told automobile insurers and insurance producers that it will not tolerate rate discrimination against newly-licensed undocumented immigrants. In a circular letter dated January 16, 2020, the department advised that these drivers "should not be subjected to any unfairly discriminatory practices when they seek motor vehicle insurance." The letter follows the enactment last year of New York's "Green Light Law." The law, passed by the State Legislature and signed by Gov. Andrew Cuomo last spring, allows all New Yorkers of legal driving age to apply for a standard, not for federal purpose, non-commercial driver license or learner permit, regardless of their citizenship or lawful status…