Big I NY Comments Support Proposed Hurricane Deductible Trigger Rule

Abstract: Big I New York issued comments in support of the hurricane deductible draft rule Body: ​New York State is one step closer to a more uniform hurricane deductible trigger​ as the proposed rulemaking comment period for the new law ended this week.  Big I New York issued comments in support of the draft rule, noting that it strikes a balance between establishing a more uniform hurricane deductible trigger while allowing consumers the choice to secure a policy that suits their risk tolerance.  During early conversations with the Department of Financial Services (DFS), we emphasized the importance of prioritizing clarity, choice, and competition throughout the rulemaking…

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NY Department of Heath Eliminates Commission for Essential Plan

Abstract: The New York State Department of Health (DOH) recently announced that, effective January 1, 2026, compensation to licensed brokers and agents for Essential Plan health coverage via the NY State of Health Marketplace will no longer be permitted for new enrollments or renewals. Body: ​The New York State Department of Health (DOH) recently announced that, effective January 1, 2026, compensation to licensed brokers and agents for Essential Plan health coverage via the NY State of Health Marketplace will no longer be permitted for new enrollments or renewals.  The Essential Plan is an affordable health plan for New York residents who are not eligible for…

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DFS Urges Cyber Precautions Due to World Events

Abstract: The New York State Department of Financial Services (DFS) today advised all entities it regulates to prepare for increased risks of cyber attacks resulting from recent global conflicts. Body: ​The New York State Department of Financial Services (DFS) today advised all entities it regulates to prepare for increased risks of cyber attacks resulting from recent global conflicts. The industry letter appears to have been prompted by the entry over the weekend of the United States into the conflict between Israel and Iran.Parts of the letter focused on laws and regulations pertaining to virtual currencies and U.S. sanctions against certain countries. Much of it discussed…

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