March 16
Attorney General in New York named “Prosecutor of the Year”
Award bestowed by the New York Alliance Against Insurance Fraud NEW YORK, N.Y. — Cited for an aggressive campaign to counter auto and healthcare insurance fraud scams, the Office of Attorney General in New York was honored with the “Prosecutor of the Year” award by the New York Alliance Against Insurance Fraud. The award was […]
Generous and again generous….
Insurance leaders are among the most giving of executives. It’s kind of a culture in the field, from local agents who engine local teams, runs, charities and give support to fire fighters and police, up to the C Suite professionals who send dollars and staff to the good causes that change the world for so many. The New York Times […]
News Flash: Tail Wags Dog!
The insurance media sometimes does not know quite how to report on pronouncements by our fearless regulatory leader in New York. This is probably because so many of his statements are about “financial services” without distinction between industries, and insurance industry reporters are not always sure if he is including, excluding or consciously ignoring insurance. […]
A Tale of Two Exclusions: Fungi and Bacteria & Cosmetic Damage
Reader Asks About: Fungi and Bacteria Exclusion A Westchester producer writes: We have a client that plans to produce and sell maxi- pads in foreign countries. We’ve received two quotes. The first totally excluded losses in any way involving fungi or bacteria. The second has a more limited exclusion: “Bodily injury” or “property damage” which […]
Success in Social Media Starts with…
When you think of social media and the success that can be gained from it, one thing that we always need to keep in mind is to continuously keep learning. Social media is constantly changing because of Google’s fluidity, and that’s why we can never stop learning. Remember, Google is the boss of the Internet […]
Some Policies Have Tails, But This One Has Legs!
So think about this for a second: what was the most bizarre risk that you have ever insured? Where did the risk originate from? How did it end up in your office? Were you well versed in the type of coverage that was applicable to the risk? Where did you place it…direct with an admitted […]
Misrepresent Material Fact – Lose Coverage
Uberrimae Fidei Allows Voidance of Marine Insurance Policy Insurance has, from its inception, been an agreement requiring utmost good faith by both parties to the contract of insurance. As used in maritime insurance failure of an insured to deal in the utmost good faith with its insurer allows the insurer to void the insurance. A […]
Medical Provider Must Submit to EUO Whether it Gets an Assignment or Just Authorization to Receive Payment
Stracar Med. Servs., P.C. v State Farm Mut. Auto. Ins. Co. Appeal from an order of the Civil Court of the City of New York, Kings County (Devin P. Cohen, J.), entered January 29, 2013. The order granted defendant’s motion for summary judgment dismissing the complaint and denied plaintiff ’s cross motion for summary judgment. […]
Study Reveals Stability and Growth in P-C Insurance Market
Independent insurance agents continue to outperform captives in several areas. The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) has released the results of the 2015 Market Share Study (based on 2013 data) which reveal that independent insurance agents and brokers (collectively “IAs”) continue to dominate commercial lines while rivaling […]
