December 2019 Cover
2018
Supt. Vullo Confirms Her Departure from the DFS in 2019
The New York Law Journal announced today that Maria T. Vullo has confirmed she will be stepping down from her position as Superintendent of the New York State Department of Financial Services at the end of January. The rumored replacement is Linda Lacewell, Cuomo’s current chief of staff who has served in several different capacities […]
Reg 187 Battle Lines…Written
Article 78 proceeding started, as agents see harmful “vague standard” and worse. Not sure how the seemingly nonexistent balance of power in Albany will affect an insurance agents petition to stymie proposed Regulation 78 initiated by the PIANY and the Big I together, but the consent of an insurer segment won’t help much. It looks to us as if DFS Supt. Maria Vullo may well have the last word on the controversial Regulation.
On White Noise
This is a holiday letter as 2018 closes, but I cannot wax too poetically about the season or the past year, given the great insurance professionals we lost and given this past year’s growing factionalism in seemingly everything. I mean everything. The incessant white noise, the insane bickering on TV, whether its Fox or MSNBC […]
Friendly Fraud and Chargeback Fraud
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor Any client who does business with the public, especially online, is exposed to various types of fraud. It is interesting to note that not all fraud is planned or intended. No matter the type of fraud, it has a significant impact […]
Should Companies Screen Their Job Applications’ Social Media?
This has become an increasingly important question since surveys reveal that more than half of employers inquire into a prospective employee’s online social media activity during the hiring process. The insurance industry is no exception. However, there are a number of pitfalls involved in such screening. The major ones are: Pitfall No. 1: Only Performing […]
Dear Producer – No Insurtech is No Excuse
What is insurtech? It’s a recently created name for a growing class of apps, software and insurance startups that use cutting edge technology to quickly and efficiently provide insurance, customer service and customer engagement. If you think insurtech is the answer to writing insurance you’re sadly mistaken. Insurtech is merely a tool to make the […]
What Does the Future Hold for Workers’ Compensation Insurance Rates
By Donald D. DeCarlo and Roger Thompson The National Council on Compensation Insurance (NCCI) reports that workers’ compensation insurance rates will again dip in most states in 2018. The report attributes this continuing decrease to two factors; (1) declines in the frequency of claims; and (2) improvement in the area of workplace safety on the […]
NYIA Provides Industry Roadmap at New York Auto Forum
The New York Insurance Association hosted the New York Auto Forum—A Look at the Road Ahead on Wednesday, November 14, 2018. Auto insurance writers and insurance professionals heard from industry experts on a variety of trending topics. Skip Short, member, Short & Billy and Barry Levy, partner, Rivkin Radler shared colorful anecdotes from their many […]
