February 21
Departmental Consolidation: Seward Sees Folly in Fast Tracking Cuomo Plan
Senator James Seward (R-Oneonta) and Chairman of the Senate Majority Insurance Committee said “we are going to proceed very cautiously on that. We are willing to sit and talk about it and see if something can be worked out, but I want to proceed cautiously for a number of reasons.” “In my mind,” continued Senator […]
Sic Transit
Our recent cover article on “No-Fault” has drawn a lot of fire from both of the equation. In this issue, we present one of the more acrid letters we received, from Attorney Craig Bruno. We commend that you read it (page 3). The issue simply will not go away and we will keep up the […]
Deviations from Policy Forms
The Department recently issued two Office of General Counsel Opinions related to unapproved deviations from policy forms. Most recently, on January 31, 2011, in OGC Op. No. 11-01-08, the Department opined that an insurance agent or broker may not complete a certificate of insurance that purports to amend, expand, or otherwise alter the terms of […]
Stolen Property is Recovered, Who Gets To Keep It? Three Clues: Adhesion, Ambiguity, and Contra Proferentem
In 1976, thieves stole Helen Thompson’s portrait of her Colonial ancestors, John Apthorp and his two daughters, painted by Angelica Kauffmann, a founding member of the British Royal Academy. In March 2007, the painting was recovered when an art dealer saw it listed in the Art Loss Register.1 The total value of the property stolen […]
A New Regulatory Regime? New Yorks Proposal to Merge its Insurance and Banking Departments and Consumer Protection Board into a Single Agency
By Mark Peters and Mohana Terry, Edwards Angell Palmer & Dodge LLP On February 1, 2011, New York Governor Andrew Cuomo unveiled a proposed 2011-2012 executive budget (the “Executive Budget”). As part of the Executive Budget, the Governor submitted a bill (the “Bill”) merging the Insurance and Banking Departments and the Consumer Protection Board into […]
Imagine if these Winter Blizzards Had Been Summer Hurricanes
I received a phone call this week from a former client whose entire family I used insure. About two years ago, the whole family left my business to go with State Farm for cheaper policies. Now, they’ve all received non-renewal notices because their homes are too close to the coast. I’m glad they came back to […]
ACT ACORDingly!
“So what do you say when someone says to you “Is it cold enough for you?” Well, I usually say how “I wanna go to Flo- Ri-DA!” and this past weekend I did have an opportunity to visit the Sunshine State, even though it was only for two days. As a member of the ACT […]
Auto Insurers Default at Arbitration Results in Being Forced to Provide Coverage Where None Existed
This was a petition by American Country Insurance Company for an order vacating an arbitration award against it on the basis that the arbitrator “exceeded her authority, it was rendered in violation of and the decision is utterly arbitrary.” Neither MVAIC nor AAA opposed this motion and the Court decided it on default. “American Country […]
