Chapter Amendments to Insurance Disclosure Act Passed:
This week, agents and insurers breathed a sigh of relief as the legislature finally passed Big I NY-supported chapter amendments to the new Comprehensive Insurance Disclosure Act (CIDA). As expected, the CIDA will now apply only to actions filed after December 31, 2021 (not all pending actions, as originally passed). Additionally, PIP actions are exempted from disclosure, and the time frame for disclosure will be extended from 60 days to 90. Anticipating these favorable changes, Big I NY prepared a summary in our February 2022 E&O report. Governor Hochul is expected to promptly sign the amendments into law and they will take effect immediately. Stay tuned for guidance on best practices for complying with the CIDA.
Registration for 2022 Agents Advocacy Week(S) is Now Open!
Advocacy Week returns this year, bigger than ever! Join fellow independent agents from across New York State for Big I NY's Virtual Independent Agents Advocacy Week(S) This empowering event will kick off with an advocacy training session on April 4th, followed by virtual meetings with your state legislators who represent you in Albany. This is your opportunity to be an advocate for your industry and your customers. During Advocacy Week(s), you'll meet your state lawmakers, and be part of the movement to help the independent channel thrive – all from the convenience of your desk! Don't worry - we'll get you prepped on the issues and ready to share your story. Register today!
Big I NY to Testify Before Assembly Insurance Committee:
Big I NY has been invited to testify before the Assembly Insurance Committee on February 24th at a hearing to evaluate the impacts on all parts of the insurance industry, businesses, and consumers
as a result of the COVID-19 pandemic to identify major issues, inefficiencies, potential
legislative solutions, and to look forward at the future of the industry in this state. As your voice in Albany, we want to hear from you! What issues and frustrations have you and your customers experienced during the pandemic, specifically as it relates to insurance laws, regulations, or coverage? Click here to let us know!
Photo Inspection Co-Sponsor List Grows:
Big I NY's grassroots meetings on our bill to make auto photo inspections optional continued this week, and the list of Senate co-sponsors has grown to 11. Help us keep the pressure on lawmakers to pass this important bill this session – send a message to your representatives today asking the to become a co-sponsor!