We often hear of Connecticut and New York insurance agencies operating under names that are different from the names on their New York licenses. Watch this video to learn why you shouldn't do that. You'll also learn what the process is for getting the right name on your agency's license.[embedded content] Source
As we previously reported, on May 28 the financial strength rating of Adirondack Insurance Exchange (AIE) on the website of insurance carrier financial ratings agency Demotech was withdrawn. AIE, a subsidiary of Allstate Insurance Group headquartered in Western New York, posted the news on its website, as did Demotech. AIE sent an email on May 28 to its agents about the action; Demotech has not publicly commented.Over the last several days, many Big I New York members have contacted us with questions and concerns about this development. We will attempt to answer them here, but our information is limited. The best sources of information, should…
The Value of Advocacy: Legislative Session Adjourns with Significant Wins for IAsThe New York State Senate and Assembly adjourned for the year on Saturday after a flurry of last-minute activity. Throughout the session, Big I NY's government relations team engaged on dozens of bills, and when the dust settled, the value of our efforts was clear.Both houses of the legislature passed Big I NY-backed changes to supplemental spousal liability insurance, exempting unmarried drivers and commercial coverage from automatic enrollment. These common-sense changes will end the frustration experienced by many customers when the automatic enrollment law went into effect last year. Governor Hochul is expected to…