In an advance for commercial property insurers, site-specific exposures can now factor into underwriting models. Verisk has developed a new analytic report that provides underwriters the ability to determine the likelihood of fire incidents and a broad spectrum of non-modelled weather events. The Peril and Incident Report is offered as part of Verisk’s newly enhanced […]
Love this news: USAA reports the financial services industry’s reputation has “recovered considerably” from its recent low point in 2009, but it still falls far below other industries many people love to hate, including energy and telecommunications. Some financial firms escape the downbeat industry assessment, according to the 16th annual Harris Poll Reputation Quotient® (RQ) […]
“The winter of our discontent” was how King Richard III described his plight in Shakespeare’s play of the same name. In fact the errant king was just reinterred in England after his miscreant bones were discovered. And what timing, near the end of the worst winter in memory. Who would have thought that potholes would […]
Insurance leaders are among the most giving of executives. It’s kind of a culture in the field, from local agents who engine local teams, runs, charities and give support to fire fighters and police, up to the C Suite professionals who send dollars and staff to the good causes that change the world for so many. The New York Times […]
The Mercury Insurance Special Investigations Unit (SIU), which refers to itself as the CSI of the insurance industry, continues to uncover fraudulent claims, saving Mercury policy holders hundreds of millions of dollars and per- forming a service to all of the industry’s SIUs and sleuths. From sophisticated organized crime and sleazy lawyers and doctors to low intelligence criminals chasing quick bucks, […]
When we read in these pages of legislative and regulatory issues – in particular, the recent successes for agents with Reg 60, Reg 79 and now the C of I clarifications – it reminds me of the value agents get from their associations: NYSAIFA, IIABNY, PIANY and the others. That was underlined just the other […]
Over the holidays and into the New Year we at?the Insurance Advocate® have been preparing?to mark our 125th year of service to the New York, New Jersey and Connecticut insurance community with a special touch. The Insurance Advocate®, the oldest and largest regional in an industry that is – thankfully – state regulated, is publishing […]
We mourned the death of former Governor Mario Cuomo as did so many across the State. He was a refreshing liberal personality in that he was always clear in what has been lately called “progressive” orthodoxy in taking positions on the issues that faced New Yorkers. In financial services, he was responsible for the De […]
Insurance Advocate has received two sad notices, as we go to press. The first was this note and obituary from Diana Sands, daughter of Linda Lamel. “Dear Steve: My mother passed away on Friday, December 5th at her Manhattan home at the age of 71. At her request and with the encouragement of her former colleagues […]
In this season of high notes and well wishes, we applaud the new officers and directors of the New York Insurance Association (NYIA) for 2015. Chair is Bernard Turi, senior vice president, general counsel, general auditor and chief risk officer, Utica National Insurance Group, Utica; First vice chair: Steven Coffey, president and chief executive officer, Broome Co-operative […]
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