January 24
Cuomo-tion: Priorities Move to the Fore as New Governor Seeks Public Confidence
The first time the younger Cuomo ran, he did not get the Democratic Party’s support. So he went to work at a law firm, then went to HUD and became a favorite son of former President Bill Clinton, followed by a lucrative stint at a real estate investment firm. But Andrew’s political life was still […]
Two into One.
Response to our cover article on Jim Wrynn was overwhelmingly favorable toward theSuperintendent, many holding that he has not had much of a term on the job and should probably get that chance. We’re concerned about seeming to “cheerlead” for the Superintendent, but our feelings are exactly as laid out in the piece: we think he has […]
ERISA Fidelity Bond and Fiduciary Liability Conundrums
ERISA fidelity bonds and fiduciary liability coverage for the fiduciaries of an ERISA plans are often confused. Both are important, but they serve different purposes. A quick take on the difference: the ERISA fidelity bond covers embezzlement from an employee benefit plan; fiduciary liability protects the fiduciaries for claims alleging mismanagement of the plan, but […]
Plastic Piles Up Profits for Agents, Ease for Clients
by Art Shea It’s Sunday evening. You just got the call that your nineteen year old son was involved in a five car accident. Your new car is totaled. You meet your son at the hospital and find out everyone is going to be OK; just some minor bumps and bruises. You finally get the […]
Smile and Say Surcharge!!
How many times have you prepared to enter your car, however right before getting into the vehicle you look underneath, and in the backseat, and around the perimeter, just to see if anyone is lurking around your vehicle, ready to attack you and separate you from your hard earned money? Well, from now on you […]
No-Fault Abuse Drives New Yorkers Premiums Up
OK, I apologize for the pun and I know you’ve heard it before, but the situation is getting worse: This month, the Insurance Research Council released a study showing that no-fault auto insurance claims in New York City that were found to include “claim abuse” rose from about 29 percent to 35 percent over the […]
Insured's Failure to Update Address With Sec'y of State Does Not Excuse Late Notice of Lawsuit
If an insured does not receive lawsuit papers timely because it failed to advise the Secretary of State of its change of address, does that excuse late notice of the suit to its insurer? No, says the Appellate Division, reversing Supreme Court, New York County (Milton A. Tingling, J.). “The subject insurance policy’s notice of […]
Federal Tax Case Leads to Workers Comp Fraud Arrest
The fraud investigation of Rosa Rivera, 66, of the Bronx began when the New York State Insurance Fund learned that Ms. Rivera had been charged by federal authorities with filing false tax returns for clients of her tax preparation service. A closer look revealed that Rosa Rivera had been working as a self-employed tax preparer […]
