The Twelfth Annual LICONY Legislative & Regulatory Conference Nearly 140 conferees from the life insurance industry, leading professional firms that serve the industry, and prominent insurance regulators and legislators took part. The meetings were substantive, the social events were enjoyable, and the weather was perfect. Proof that there is Life in Cooperstown after the summer […]
Response to Ed Higgins’s article in the last issue of the Insurance Advocate was swift, sharp and abundant. The majority of e-mails came from insurance agents who expressed their admiration for Ed and for his work. We have not yet heard from any of the other protagonists whose opinions and positions we have invited and […]
When is a Release Not a Release? Once again the NY Insurance Department* is attempting to narrow the ability of insurance companies to settle claims. Current Regulation 64 provides a straightforward requirement that insurers cannot require a claimant to sign a release as a condition of settlement that is “broader than the scope of the […]
To calculate workers compensation experience rating modifications, an insured’s incurred losses are split into a primary loss portion and an excess loss portion. The amount of the incurred loss equal or less than the “split point” is the primary loss and the portion in excess of the split point is the excess loss. Effective January […]
Certainly not into the insurance industry and definitely not into independent insurance agencies. What a surprise! What young 20 something college graduate wouldn’t want to go to work in an industry portrayed in TV commercials as two doofuses in light blue suits? What intelligent, young person with a great personality wouldn’t flock to an industry […]
As someone who visits with agencies in many areas of our country on a daily basis, I probably “have heard them all” when it comes to questions that are posed to me by agents regarding everything from “What are the most competitive carriers?” to “What technology is available to help me increase my bottom line?” […]
Selzer v New York City Tr. Auth. This appeal arises out of a personal injury action in which the plaintiff alleges that he sustained injuries as he was exiting a subway car on the R train at Whitehall Street, Manhattan. At trial, the plaintiff testified that the defendant’s conductor negligently closed the doors on his […]
So far in 2012 the New State Department of Financial Services (DFS) has not issued any publicly available Office of General Counsel Opinions. A review of the most recent disciplinary actions taken by the DFS against insurance companies, agents, brokers, and adjusters (released September 10, 2012), sheds some light on what areas have been the […]
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