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Continuing education for insurance professionals: CIBGNY is supporting some form of required continuing education for all license holders, with some provisions for "grandfathering," as well as the reassessment of current licensing requirements with an eye toward greater stringency and more in-depth professional study prior to licensing.
Bank insurance activities: CIBGNY has consistently opposed bank marketing proposals to enter the insurance field, especially the proposal that banks be allowed to sell insurance to borrowers and other consumers.
State Fund: The State Fund has "expanded dramatically since its inception and is today the dominant force in [the New York workers' compensation 1 market," according to CIBGNY. As a result, said the association, brokers have lost marketshare and the state bureaucracy has grown, creating disincentives to businesses to seek private carriers.
As a result, CIBGNY supports the exploration of a "privatization plan through which brokers may represent the State Fund and be compensated for their work.
NYAIP: CIBGNY noted that "more than any other group," it has a stake in the efficient working of the New York Automobile Insurance Plan (NYAIP).
They are an underserved minority who might wind up as a third agents group as the CIBGNY did after World War II and as the CAIA has become today.
Following a court decision upholding Regulation 194 that requires New York's insurance producers to disclose certain compensation information to their clients, IIABNY and CIBGNY leaders, unsuccessful plaintiffs in the suit, have decided to hold off on further litigation.
spoke to the capacity crowd, introducing the speakers such as CIBGNY President Michael Demetriou who presented the Scholarship Awards; and then himself presenting GMAC Insurance Company with the 2011 Company of the Year Award.
In this issue we recount (on page 6) the IIABNY and CIBGNY continuing battle to overturn Reg.
IIABNY and CIBGNY were part of an industry effort throughout 2009 aimed at convincing the New York Insurance Department to drop Regulation 194 or minimize its burdens on producers.
As Adam Rostkowski of Proactive Brokerage so warmly remarked, "We had a great time!" Many thanks to everyone who attended, such as Michael Honig, Michael Conte, Anthony Luparello, and Bill Fleisher, along with those from The Council of Insurance Brokers of Greater New York (CIBGNY), along with Morstan General Agency of New Jersey, New York, and Florida; Demetriou General Agency of Hicksville, NY; and Honig Conte Porrino Insurance Agency of New York, NY.
Speaking of The Council of Insurance Brokers of Greater New York (CIBGNY), in memory of Theodore P.
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