I’ve been writing this column for about a decade and I still haven’t run out of things to say. Some folks may suggest that this reflects my personality, but I believe it’s because the insurance industry—and particularly the field of professional, independent agents—is so multifaceted and dynamic that there is, literally, no end to the […]
As an underwriter and later as an agent, it was always hard for me to understand why consumers weren’t willing to buy “voluntary” insurance to protect them against loss. When I say “voluntary” insurance I am talking about coverage not mandated by law, mortgage holders or others with an insurable interest. Issues like flood insurance, […]
Many years ago I participated in a meeting at the old New York insurance department moderated by a relatively new deputy. A few minutes into the meeting the deputy interrupted the proceedings and declared: “No more acronyms!” The offending acronym was “Pru Re.” Pru Re, of course, is not an acronym – it is simply […]
As if the boundaries of exposure needed expansion, the American Medical Association has recognized obesity as a disease in the same vein that the American Psychiatric Association has diagnosed and reset a manual of mental disorders. What is happening is simple: more and more diseases, more and more illnesses are being translated into exposures for […]
By now we all are very much aware that when it comes to insurance and privacy, just because you see something doesn’t mean you can discuss it with anyone who is not entitled to that information. This is especially true when it pertains to areas that are protected under the federal HIPAA laws. Effective September […]
We’ll start this month by looking at some recent developments related to Sandy and then examine a situation that tests my mantra that the first three steps in claims handling are: Report, Report, and Report. Sandy at $18.8 B and Counting The latest reports peg the insured damage from Sandy at $18.8 billion, excluding National […]
Two time fraudster Raja Ishtiaq was convicted after a five-week trial for his role in a massive scheme to fraudulently obtain commercial car insurance policies and New York City Taxi and Limousine Commission (TLC) licenses. Over a period spanning almost five years, the defendant and his co-conspirators fraudulently obtained thousands of dollars in discounted insurance […]
Electronic transactions have been implemented in online banking, trading, credit card usage, airline transactions, medical records and federal court dockets. Despite this, and despite recent legislative and regulatory developments facilitating its use, the insurance industry lags other major consumer sectors in adopting e-commerce transactions. Those insurers who have implemented such practices, however, are doing so […]
EMANUEL LEVY, Editor of the INSURANCE ADVOCATE, and vice president and treasurer of The Roberts Publishing Corp. passed away in Ann Arbor, Michigan on August 18, 2013. He was born in the Bronx, N.Y. on April 11, 1918 and was educated in the public schools of New York City. He was graduated from Brooklyn College […]
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