January 11
SECOND ACT SEEN: Jim Wrynn Seems a Logical Choice, as Govs Cuomo-tion Sets Consolidation of Insurance, Banking and Consumer Protection Depts
When Jim Wrynn “signed up” for the top job in New York’s muscular insurance regulatory arm, he inherited a lot of work in progress, but would make his mark with innovations realized under a low key styled, but no less achievement driven regime. The Superintendent of Insurance sent his mandatory resignation to the transition team […]
Wrynn Reign
The Insurance Advocate wishes Governor Andrew Cuomo success in his “deeds not words” approach to a Government that, in the new Governor’s words needs more than “baby steps” to reform. Andrew Cuomo starts off with a good wind in his sails, but is running straight into hurricane like forces including the state’s pension obligations, the municipal unions and Medicare […]
The Independent Broker who Saved Christmas
As we all know, 2010 has brought many changes to the insurance industry, with undoubtedly the most notable being New York State’s Regulation 194. However, with the Christmas, Hanukah, and New Year’s season behind us, we may use this time to reflect upon some of the good that has arisen from our business. As I […]
Don't Set Sail in 2011 Without an Agency Plan – It's Not To Late!
2011 is here and what are your plans for this year? We have a new governor in a state saddled with budget issues and skyrocketing taxes. New York is hardly business friendly and that coupled with our stalled economy doesn’t make for a positive environment in which to operate your business. How do your clients […]
Insurers Delays in Paying Homeowner Claim Result in Bad Faith Judgment
On January 31, 2007, Plaintiffs home in Pelham, New York (the “Dwelling”) was substantially damaged by fire. At that time, Plaintiffs were insured by Defendant under a Deluxe Homeowner’s Policy. Due to the damage caused by the fire, the Plaintiffs could no longer reside in the Dwelling and rented another residence. They also apparently put […]
Citigroup Insurance Agencies Pay $2 Million Fine
New York, N.Y.—Three Citigroup-affiliated insurance agencies have paid a $2,000,000 fine to New York to resolve insurance law violations committed from 2003 to 2007. An Insurance Department examination of Citicorp Insurance Agency, Inc., Citicorp Investment Services, and SBHU Life Agency, Inc., found violations of the Insurance Law and Department regulations with regard to certain sales […]
