Industry News

​​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,…

​As part of the CARES ACT recently approved by Congress, $350 billion will be available through various SBA lending programs to help small businesses – like your agency and those of your clients – survive and recover from losses suffered during the COVID-19 crisis. The new Paycheck Protection Program (PPP) is designed to help cover your short-term operating expenses so you can remain open and keep your local economies thriving. InsurBanc, recognized as a Preferred Lender by the U.S. Small Business Administration, is prepared to work with eligible businesses to obtain the emergency financing offered through the PPP. InsurBanc President & CEO Dave Tralka recorded…