DeWITT — DeWitt–based Big I New York announced that it applauds the approval of a new state law that the organization says it wrote for “easier” compliance with insurance-licensing requirements. Gov. Andrew Cuomo signed the bill on Dec. 7. New York State Senator James Seward (R–Milford) and New York State Assemblyman Kevin Cahill (D–Kingston) sponsored […]
DeWITT — DeWitt–based Big I New York announced that it applauds the approval of a new state law that the organization says it wrote for “easier” compliance with insurance-licensing requirements.
Gov. Andrew Cuomo signed the bill on Dec. 7. New York State Senator James Seward (R–Milford) and New York State Assemblyman Kevin Cahill (D–Kingston) sponsored the bill. The measure creates a single renewal date of June 30 for all of an insurance agency’s or brokerage’s licenses, Big I New York said in a news release.
“Agencies were required to renew three different licenses at three different times,” Louis Atti, chair of the Big I New York board of directors, tells CNYBJ in a phone interview. “I think it was just common sense.” Atti also serves as VP of personal lines insurance for the Evans Agency in Derby, located south of Buffalo in Erie County.
The new renewal date also helps agents in meeting the education requirements to have those licenses renewed, Atti notes. They can take a class on a topic of interest instead of just taking any class to secure the points necessary to renew the license.
The organization started working on the issue “prior to this year, and then we finally got some movement on it,” Atti says.
Big I New York describes itself as the state’s oldest insurance producer trade association. Insurance agents and brokers are commonly referred to as “insurance producers,” the organization said. Big I New York was previously known as the Independent Insurance Agents & Brokers of New York Inc. (IIABNY).
The change in licensing
Under previous law, business entities licensed as insurance producers had three different dates on which to renew their licenses.
Life-insurance agencies’ licenses expired on June 30 of odd-numbered years and property-casualty agencies’ licenses expired on June 30 of even-numbered years. All brokerage licenses expired on Oct. 31 of even-numbered years.
“It was very cumbersome more than anything else to try to keep track of all that and make sure that you were compliant,” says Atti.
Most insurance-producer businesses hold agent and broker licenses for both life and property-casualty insurance. The previous law required them to keep track of the three separate renewal dates. The new law sets June 30 of odd-numbered years as the single date on which all types of licenses issued to businesses will expire, starting with June 30, 2021.
Atti notes that most insurance agencies and brokerages are small, community-based businesses with “many demands for their attention.” This new state law helps “make their lives a little easier,” he adds.
Big I New York says it works to represent the educational, political, and business interests of our more than 1,750 agencies and their 13,000 plus employees, per its news release.
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DeWITT — DeWitt–based Big I New York announced that it applauds the approval of a new state law that the organization says it wrote for “easier” compliance with insurance-licensing requirements.
Gov. Andrew Cuomo signed the bill on Dec. 7. New York State Senator James Seward (R–Milford) and New York State Assemblyman Kevin Cahill (D–Kingston) sponsored the bill. The measure creates a single renewal date of June 30 for all of an insurance agency’s or brokerage’s licenses, Big I New York said in a news release.
“Agencies were required to renew three different licenses at three different times,” Louis Atti, chair of the Big I New York board of directors, tells CNYBJ in a phone interview. “I think it was just common sense.” Atti also serves as VP of personal lines insurance for the Evans Agency in Derby, located south of Buffalo in Erie County.
The new renewal date also helps agents in meeting the education requirements to have those licenses renewed, Atti notes. They can take a class on a topic of interest instead of just taking any class to secure the points necessary to renew the license.
The organization started working on the issue “prior to this year, and then we finally got some movement on it,” Atti says.
Big I New York describes itself as the state’s oldest insurance producer trade association. Insurance agents and brokers are commonly referred to as “insurance producers,” the organization said. Big I New York was previously known as the Independent Insurance Agents & Brokers of New York Inc. (IIABNY).
The change in licensing
Under previous law, business entities licensed as insurance producers had three different dates on which to renew their licenses.
Life-insurance agencies’ licenses expired on June 30 of odd-numbered years and property-casualty agencies’ licenses expired on June 30 of even-numbered years. All brokerage licenses expired on Oct. 31 of even-numbered years.
“It was very cumbersome more than anything else to try to keep track of all that and make sure that you were compliant,” says Atti.
Most insurance-producer businesses hold agent and broker licenses for both life and property-casualty insurance. The previous law required them to keep track of the three separate renewal dates. The new law sets June 30 of odd-numbered years as the single date on which all types of licenses issued to businesses will expire, starting with June 30, 2021.
Atti notes that most insurance agencies and brokerages are small, community-based businesses with “many demands for their attention.” This new state law helps “make their lives a little easier,” he adds.
Big I New York says it works to represent the educational, political, and business interests of our more than 1,750 agencies and their 13,000 plus employees, per its news release.
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DeWITT — DeWitt–based Big I New York announced that it applauds the approval of a new state law that the organization says it wrote for “easier” compliance with insurance-licensing requirements. Gov. Andrew Cuomo signed the bill on Dec. 7. New York State Senator James Seward (R–Milford) and New York State Assemblyman Kevin Cahill (D–Kingston) sponsored […]
DeWITT — DeWitt–based Big I New York announced that it applauds the approval of a new state law that the organization says it wrote for “easier” compliance with insurance-licensing requirements.
Gov. Andrew Cuomo signed the bill on Dec. 7. New York State Senator James Seward (R–Milford) and New York State Assemblyman Kevin Cahill (D–Kingston) sponsored the bill. The measure creates a single renewal date of June 30 for all of an insurance agency’s or brokerage’s licenses, Big I New York said in a news release.
“Agencies were required to renew three different licenses at three different times,” Louis Atti, chair of the Big I New York board of directors, tells CNYBJ in a phone interview. “I think it was just common sense.” Atti also serves as VP of personal lines insurance for the Evans Agency in Derby, located south of Buffalo in Erie County.
The new renewal date also helps agents in meeting the education requirements to have those licenses renewed, Atti notes. They can take a class on a topic of interest instead of just taking any class to secure the points necessary to renew the license.
The organization started working on the issue “prior to this year, and then we finally got some movement on it,” Atti says.
Big I New York describes itself as the state’s oldest insurance producer trade association. Insurance agents and brokers are commonly referred to as “insurance producers,” the organization said. Big I New York was previously known as the Independent Insurance Agents & Brokers of New York Inc. (IIABNY).
The change in licensing
Under previous law, business entities licensed as insurance producers had three different dates on which to renew their licenses.
Life-insurance agencies’ licenses expired on June 30 of odd-numbered years and property-casualty agencies’ licenses expired on June 30 of even-numbered years. All brokerage licenses expired on Oct. 31 of even-numbered years.
“It was very cumbersome more than anything else to try to keep track of all that and make sure that you were compliant,” says Atti.
Most insurance-producer businesses hold agent and broker licenses for both life and property-casualty insurance. The previous law required them to keep track of the three separate renewal dates. The new law sets June 30 of odd-numbered years as the single date on which all types of licenses issued to businesses will expire, starting with June 30, 2021.
Atti notes that most insurance agencies and brokerages are small, community-based businesses with “many demands for their attention.” This new state law helps “make their lives a little easier,” he adds.
Big I New York says it works to represent the educational, political, and business interests of our more than 1,750 agencies and their 13,000 plus employees, per its news release.
