Even though the courts have once again come to the rescue of the Bureau, the ELNY fiasco fully exposed the Bureau for its decades-long covert mismanagement of insolvent insurance companies. The New York Superintendent of Financial Services and the New York Liquidation Bureau have experienced two major victories in the past few weeks. First, they […]
This issue of Insurance Advocate leads with a cover story by Peter Bickford, one of our prized columnists and a respected longtime industry observer. Peter expresses a well-reasoned opinion that we hear over and over again; that is, that the New York Liquidation Bureau might best be itself liquidated. Peter hastens to point out that […]
A couple weeks ago, I participated in a meeting of the North Side Civic Association in Long Beach, Long Island. Located on the furthest west part of the outer barrier islands off the South Shore in Nassau County, readers may be familiar with Long Beach because of its iconic boardwalk, which was destroyed by Sandy […]
The first case under the revised New York insurance law section that now requires an insurance company to show prejudice before it can deny coverage for late notice, has just been reported. It’s Atlantic Casualty Ins. Co. v. Value Waterproofing, Inc., No. 11 Civ. 7565 (DLC) (S.D.N.Y. Jan. 15, 2013). In the February 4th issue […]
So, in recent times we have experienced here in the Northeast an earthquake, a tornado, a super/hurricane/ perfect storm with all the “trimmings” that you can ever imagine, and now this: a blizzard with snow that fell at up to 4 inches an hour, lightning and thunder (that frightened me while I was out shoveling […]
Ferguson v Dollar Rent A Car, Inc. Order, Supreme Court, New York County (Saliann Scarpulla, J.), entered February 28, 2012, which granted defendants Dollar Rent A Car, Inc. and Auto Rental, LLC’s motion for summary judgment dismissing the complaint as against them, unanimously affirmed, without costs. Plaintiff alleges that she was wrongfully arrested and detained […]
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