May 11
NAIFA Launches an Attack on “Unreasonable” Legislation
The National Association of Insurance and Financial Advisors–New York State (NAIFA–NYS) has launched an all-out attack on an initiative introduced in the leg- islature that would institute what it sees as unreasonable requirements upon providers of Financial counsel. NAIFA which represents the interests of tens of thousands of agents, their associates, and their clients who […]
Post Ben: Revisit the Concept
Too bad that the news of Ben Lawsky’s departure from the NYDFS was greeted in the major papers almost universally with a recounting of his hard-hitting penalties and pun- ishments of bankers. It has made him appear a bit of an over-reacher in the prosecution of errant bank operatives, when in fact he meted out […]
Egads Charlie Brown!
One of my favorite Peanuts car- toons is of Linus and Charlie Brown talking. Linus says, “Well Charlie Brown, you win some and you lose some!” Charlie Brown thinks about it and through his inimitable meek smile responds: “Gee, that would be neat!” The insurance industry, particularly in New York, can certainly empathize with Charlie […]
When Does a Property Loss Occur?
It’s generally clear when a property loss has occurred. The building burns down, the insureds call the fire department, and then call their insurance producers. But sometimes the damage occurs and the insured doesn’t know about it. It’s the insurance variation of “If a tree falls in a forest and no one is around to […]
ISO Tries to Fix “Where Do You Reside” Problem in HO
ISO Fixes the Residence Prob- lem in Homeowners Policies— Somewhat. Mary, an elderly widow, suffers from a number of chronic ailments and has signs of dementia. Her family decides that she can no longer live on her own and must be moved to a nursing home. They realize that Mary will never recover sufficiently to […]
ISO Responds to Uber, Lyft and Other TNCs
ISO Responds to Uber, Lyft, and Other TNCs (Transporta- tion Network Companies) ISO has responded to the Uber, Lyft and the TNC craze that’s disrupting the taxi industry by filing new endorsements. It’s a response that will leave ISO-based insurers out of the game. The most important change is a mandatory endorsement that eliminates coverage […]
Computer Hacking Caused by Carelessness More Than Cleverness
Phishing, not Phenoms, Cause Most Computer Hacking Problems It’s not Professor Moriarty, Darth Vader, or even Crabby Appleton who wreak havoc on our computers, it’s our own gullibility. More than two-thirds of the 290 electronic espionage cases studied by Verizon and Symantec involved some- one victimized by phishing (computer- speak for emails that trick you […]
Catch the Social Media Wave
Social media has become one of the most prominent marketing chan- nels. A recent study shows that near- ly 91 percent of all businesses are using social media as a new marketing tool to reach customers and prospects. It’s also reported that Americans spend more than 3.5 hours a day using social media. That’s more […]
Grill Baby Grill!
So as we approach Memorial Day and the dog days of summer, many of us have thoughts in our minds of trav- eling on vacation, trips to the beach, and backyard barbeques. Well, as we commit to these different events, there are a few reminders that I want to share for us to keep in […]
