​ Albany Update: Big I NY Opposes Mandatory Insurance Disclosure Bill, UI Tax Hikes

​This week, Big I NY joined a broad coalition of business, municipal, and construction groups in calling on Governor Hochul to veto the “Comprehensive Insurance Disclosure Act". The bill would require the automatic disclosure of virtually all information related to a defendant's insurance coverage and information, including insurance applications. Typically such information is obtained through discovery, in which a judge has discretion to allow only relevant materials to be disclosed. The practical effect of this bill would be to put significant discovery costs on defendants, and give plaintiffs attorneys a trove of information to engage in a litigation “fishing expedition," pursuing claims based on a defendant's available coverage…

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DFS Finalizes Guidance For Carriers On Climate Change Risks

​The New York State Department of Financial Services (DFS) this week issued final guidance to licensed domestic insurers on how they should manage the financial risks presented by climate change. The document culminated a months-long process that started with proposed guidance on which 45 parties provided detailed comments.Acting Superintendent of Financial Services Adrienne A. Harris said that DFS intends the guidance to "support insurers’ efforts to manage the financial risks from climate change, bolstering the safety and soundness of the industry and the protection of consumers. " According to the document, DFS expects all New York insurers to start integrating consideration of climate change's financial risks…

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3, 2, 1 With Sue Keegan: Avoid Hackers; Register for Pre-Licensing; Make Chai Sugar Cookies

​By Sue Keegan, AIC, MBA, Learning & Development Manager​3 Things2 IdeasRunning #futuregoalsAm I middle-aged? Yes. Do I love Taylor Swift? Also yes. Grab her Red (Taylor's Version) album (I'm so old that I still use the word album) that dropped last Friday and whip up some of her Chai Sugar Cookies while you listen.1 QuestionSource

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