Albany, N.Y.—New legislation has been signed into law. Legislation restricting the supervision of state licensed real estate appraiser assistants has been signed into law by Governor Andrew M. Cuomo of the laws of 2013. The law became effective on July 1, 2013. “The new standards had to be adopted by state appraisal programs by July […]
Promed Durable Equip., Inc. v GEICO Ins. Appeal from an order of the Civil Court of the City of New York, Kings County (Lisa S. Ottley, J.), entered October 25, 2011. The order, insofar as appealed from, denied defendant’s cross motion for summary judgment dismissing the complaint and found, in effect, that plaintiff had established, […]
The Department of Financial Services (DFS) released the first in a series of audits on the New York State Common Retirement Fund (CRF). The audit uncovered serious information technology problems at the Office of the State Comptroller (OSC) that are putting retirees and taxpayers at significant risk. To help address these problems, DFS – the […]
This month we’re going to look at three cases that may change the way you view insurance coverage. Two of them involve the New York Court of Appeals, which seems to be coming down on the insured’s side more frequently than in the past. And at the end we’ll quickly look at an item that […]
You hear it every day, social networking: Facebook (which by the way has now climbed over its IPO price and is increasing every day!) Twitter, Tumbler, LinkedIn, Instagram…where does it end? Guess what? It doesn’t…it just keeps growing! Two new key trends that we are now seeing are “social culture” and the “connected society” which […]
Are you as tired as I am of hearing the word “robust”? Everything is robust. You have a wine, it’s robust, you have fans at a baseball game who are robust, you have a new suit hanging on the rack at Brooks Brothers and the sales clerk tells you the color is robust. And on […]
In the Community Association world, Directors and Officers Liability Insurance is a must. Community Associations, such as Condominium Associations, Homeowners Associations, and Co-ops, present a unique set of challenges to insurance brokers. Education is a key component to understanding these challenges and it is the insurance broker’s job to educate and explain the types of […]
You may have heard the huge sigh of relief coming from Downtown Manhattan in early August, particularly from the William Street offices of the New York Liquidation Bureau. On August 8th the decades long failed rehabilitation of Executive Life Insurance Company of New York (ELNY) finally ended and it was officially liquidated. Not only was […]
Glen Rock, N.J.—MSO®, Inc. (The Mutual Service Office, Inc.) has announced that they have partnered with Nexxus Solutions Group. Based in Orlando, FL., Nexxus Solutions Group, LLC is a managed repair network servicing the Insurance Industry and their customers. Nexxus Solutions Group’s national network encompasses mitigation companies, contractors and service providers, who mitigate, repair or […]
My last 2 blog posts at IIABNY have been about establishing the value of buying protection from an independent agent. Having consumers appreciate that value takes the decision on where to buy coverage out of the realm of just price. Technology has allowed price sellers who deal directly with consumers over the internet to offer […]
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