By Betty Flood and Katlin Nash ALBANY, N.Y.—New York Superintendent of Financial Services Benjamin M. Lawsky spoke at the 22nd annual Hyman P. Minsky Conference on the state of the U.S. and world economies in New York State and what the Department of Financial Services is doing to improve the insurance and banking industries. Superintendent […]
A new survey by Insurance.com called “Ticketmasters” ranks popular excuses drivers give to police when stopped for a potential violation. Among people who said they have used excuses when pulled over by a police officer, here’s how explanations break down: 1. I couldn’t see the sign telling me not to do it: 20.4 percent 2. […]
New York’s superintendent of financial services, Benjamin Lawsky, spoke recently about healthy competition. Before you get too excited about a new direction for the DFS, I should point out that he was talking about competition among financial regulators, not among insurance companies or other industry participants (see related article this issue). Speaking at a highly-regarded […]
Demographics, technology and advertising threaten the future of independent agents and brokers. As the client base ages and evolves their expectations, demands and buying patterns are changing as well. It’s influenced by the information consumers can obtain on the internet. The internet also offers 24/7 access for pricing and purchasing insurance. At the same time […]
So my son Devin, who is a member of the NY Young Insurance Professionals and whom many of you know, tells me the other day that he is writing a paper for his junior year economics class at the University of Hartford, on counterfeit auto parts manufactured in China that find their way into our […]
By Betty Flood and Katlin Nash A LBA NY, N.Y.—The New York Stand Against Insurance Fraud endorsed a measure for the crackdown on rate evasion insurance fraud. New York State Senator Lee Zeldin (R, C, I- Shirley) has called for a crackdown on rampant auto insurance fraud being committed by New Yorkers who intentionally and […]
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