Industry News

​The New York State Insurance Fund is offering its Workers' Compensation insurance policyholders a credit to offset the cost of purchasing personal protective equipment (PPE) for use during the COVID-19 pandemic. You may hear about this program from your clients soon.The program offers employers a credit of 5% of their annual premium or $500, whichever is less. The credit is for the purchase of eligible items such as:MasksGogglesGlovesGownsHand sanitizerOther COVID-19 safety related itemsEmployers can apply for the credit now on the Fund's website​. Source

​​The New York Automobile Insurance Plan​ has asked state insurance producer trade organizations to distribute the following message:Dear Producers, Section 4 of the New York Automobile Insurance Plan (NYAIP) manual provides for the Department of Financial Services to appoint 2 public members and at least 4 public member alternates to the Governing Committee of the NYAIP. The Superintendent also recommends eight public members who are subject to a majority of votes cast by Plan subscribers at the annual meeting. At the request of the Department of Financial Services, the NYAIP is soliciting producer trade organizations for qualified producers (at least five years of work experience) who are…

​The New York State Department of Financial Services announced ​today that candidates for insurance licenses will be able to take exams online starting next week. The exams will be administered by the department's designated vendor PSI. Until now, candidates for New York insurance licenses were required to take the exam at a proctored testing center. However, most testing centers have been closed for months because of the COVID-19 pandemic. The new online option will be available to all candidates. According to a department news release, "Online testing will allow candidates to take the exams at a testing center or any other location of their choice,…