Watch Live: Big I NY Argues Against “Best Interest” Regulation

On Wednesday, March 10th, counsel for Big I NY will present oral arguments in our ongoing legal challenge to the first amendment to Insurance Regulation 187​. The regulation, which imposes a vague and burdensome “best interest" standard for the sale of life insurance and annuities, fundamentally alters the duty of an insurance producer to the customer and threatens to harm consumers by reducing the availability of affordable coverage. The oral arguments are the final step before a ruling on our appeal.In 2018, Big I NY sued the Department of Financial Services, over the amended regulation alleging that: the DFS overstepped its authority; violated the State Administrative…

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Is Your Non-Compete Agreement Enforceable? It Depends On Where in New York You Are

​​Big I New York members often call our office with questions about non-compete agreements - Can I use one? How long can I make it effective? How broad can it be?  Attorney Bradley A. Hoppe​ has  a new blog post about a recent New York appellate court decision that illustrates that the answers depend on where in the state your agency is located.Specifically, in (King v. Marsh & McLennan Agency, LLC), the First Department again recognized the governing rule for courts (and companies and employees) located within the First and Second Departments (i.e., New York City and downstate counties) that a non-competition or non-solicitation covenant is unenforceable…

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On Our Mind…Thank You!

​By Allison Just, Meeting & Governance Manager Thank you! We put out a challenge to rock social media with how awesome it is to work in insurance. Rock you did. Not once did I see an agent with a briefcase at a kitchen table (what I used to think of insurance before I joined Big I NY; my parents tidying up before our agent came to our house). What did I – and the rest of the social media world – see?Smiling faces. People with their dogs. Babies on laps (future agents, perhaps?). Bags of groceries being donated to a neighborhood charity. Posts about being thankful…

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