Agency Staff Not Eligible for Early COVID-19 Vaccinations

​Some Big I New York members have asked us whether insurance agents are eligible for COVID-19 vaccinations in Phase 1b of the distribution plan. The answer appears to be no.The New York State COVID vaccine web page contains a long list describing New Yorkers eligible for vaccinations in Phases 1a and 1b​. The list includes health care workers; individuals over age 65; first responders; corrections officers; in-person college instructors; those working in schools (pre-school and grades K through 12); grocery store workers; childcare workers; public transit workers; and individuals living and working in homeless shelters. It does not appear that insurance agency staff qualify under any…

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NYCIRB Announces COVID-19 Claims Exempt From Merit Rating

​Today, the New York Compensation Insurance Rating Board issued Bulletin R.C. ​2527​, which states that effective December 1, 2020, claims attributable to the COVID-19 pandemic are excluded from the merit rating calcuation of individual employers.Per Bulletin R.C. 2512 of May 1, 2020, COVID-19-related losses are also excluded from experience rating, effective December 1, 2020.If  you  have  any  questions,  please  contact NYCIRB:Mark  Battistelli,  Vice  President  of Underwriting Services (212) 697‐3535, ext. 113underwritingservices@nycirb.orgSource

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Moratorium, Premium Payment Flexibility Emergency Regulation Expires

As of 12:01am on Tuesday, July 7th, emergency restrictions on insurance carriers' and premium finance agencies' ability to terminate coverage and requirements for premium flexibility are no longer in effect. The emergency regulation, first adopted on March 30th, and subsequently re-adopted with changes on June 29th, expired on July 6th, per Executive Order 202.48. Relief granted to policyholders prior to July 6th remains in effect. For example, an insured who demonstrated hardship for a June 1 premium payment is still entitled to a 60-day deferral (until July 31), and the option to repay that premium in 12 monthly installments. Contact Scott Hobson with questions. More…

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