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 […]
Work At Home Vintage Employees LLC (WAHVE) is an interesting concept. Essentially, it is a domestic remote staffing service for insurance firms. There are some firms which provide for staffing and for services outside of the U.S. In this case, WAHVE employs the services of retired, semi-retired, or outside consultants to assist organizations with the […]
Let’s have a little chat about immunity. No, not immunity from retribution for squealing on Aunt Bea and her high stakes Saturday night poker game, or for giving state’s evidence against the mob before disappearing into witness protection. And no, not immunity for blowing the whistle on your employer, or for acting badly as a […]
Readers of this column may recall my affinity for locally owned book stores. I love shopping at and spending time in them; of course I love the products and the service and it makes me very happy to know that I am supporting a local merchant. Even as I’ve become a reader of digital books […]
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